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Theressa
2021-02-09
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2021-02-05
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Theressa
2021-02-05
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Luckin Coffee’s Restructuring Efforts Move Forward with Commencement of its Chapter 15 Case in the United States
Theressa
2021-02-05
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(the “Company”) (OTC:LKNCY), Alexander Lawson of Alvarez & Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez & Marsal Asia Limited, today filed a verified petition under chapter 15 of title 11 of the United States Code (the “Chapter 15 Petition”) with the United States Bankruptcy Court for the Southern District of New York (the “U.S. Bankruptcy Court”). The Chapter 15 Petition seeks, among other things, recognition in the United States of the Company’s provisional liquidation pending before the Grand Court of the Cayman Islands (the “Cayman Court”), Financial Services Division, Cause No. 157 of 2020 (ASCJ) (the “Cayman Proceeding”)1and related relief.</p>\n<p>The Company is negotiating with its stakeholders regarding the restructuring of the Company’s financial obligations, to strengthen the Company’s balance sheet and enable it to emerge from the Cayman Proceeding as a going concern, for the benefit of all stakeholders. The relief sought in the Chapter 15 Petition is an important component of the Company’s restructuring. This relief will promote centralized administration of the Company’s assets by permitting coordination between the Cayman Court and the U.S. Bankruptcy Court, to protect the interests of stakeholders while facilitating the Company’s restructuring.</p>\n<p>All Company stores remain open for business, offering products with high quality, affordability and convenience to its customers in China. The filing of the Chapter 15 Petition is not expected to materially impact the Company’s day-to-day operations. The Company continues to meet its trade obligations in the ordinary course of business, including paying suppliers, vendors and employees.</p>\n<p>______</p>\n<p>1The Company previously disclosed the commencement of the Cayman Proceeding on July 15, 2020.</p>\n<p><b>Safe Harbor Statement</b></p>\n<p>This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including Joint Provisional Liquidators. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the expense, timing and outcome of existing or future legal and governmental proceedings, investigations in connection with the Company; the outcome and effect of the ongoing restructuring of the Company’s financial obligations; the Company’s growth strategies; its future business development, results of operations and financial condition; the effect of the non-reliance identified in, and the resultant restatement of, certain of the Company’s previously issued financial results; the timing of the completion or outcome of the audit of the Company’s financial statements; the effectiveness of its internal control; its ability to retain and attract its customers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with its suppliers and business partners; trends and competition in China’s coffee industry or China’s food and beverage sector in general; changes in its revenues and certain cost or expense items; the expected growth of China’s coffee industry or China’s food and beverage sector in general; PRC governmental policies and regulations relating to the Company’s industry; the potential effects of COVID-19; and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.</p>\n<p><b>About Luckin Coffee Inc.</b></p>\n<p>Luckin Coffee Inc. (OTC:LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high affordability, and high convenience to customers. Empowered by big data analytics, AI, and proprietary technologies, the Company pursues its mission to be part of everyone’s everyday life, starting with coffee. The Company was founded in 2017 and is based in China. </p>","source":"lsy1573717531661","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Luckin Coffee’s Restructuring Efforts Move Forward with Commencement of its Chapter 15 Case in the United States</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLuckin Coffee’s Restructuring Efforts Move Forward with Commencement of its Chapter 15 Case in the United States\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-05 16:49 GMT+8 <a href=http://www.globenewswire.com/news-release/2021/02/05/2170477/0/en/Luckin-Coffee-s-Restructuring-Efforts-Move-Forward-with-Commencement-of-its-Chapter-15-Case-in-the-United-States.html><strong>globenewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coordination between the Cayman Court and the U.S. Bankruptcy Court to Protect the Interests of Stakeholders and Facilitate LuckinCoffee’s Restructuring of its Financial Obligations\nAll Company Stores...</p>\n\n<a href=\"http://www.globenewswire.com/news-release/2021/02/05/2170477/0/en/Luckin-Coffee-s-Restructuring-Efforts-Move-Forward-with-Commencement-of-its-Chapter-15-Case-in-the-United-States.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3d12f820102df1859c1d25e4011ee104","relate_stocks":{"LKNCY":"瑞幸咖啡","LK":"瑞幸咖啡"},"source_url":"http://www.globenewswire.com/news-release/2021/02/05/2170477/0/en/Luckin-Coffee-s-Restructuring-Efforts-Move-Forward-with-Commencement-of-its-Chapter-15-Case-in-the-United-States.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142907763","content_text":"Coordination between the Cayman Court and the U.S. Bankruptcy Court to Protect the Interests of Stakeholders and Facilitate LuckinCoffee’s Restructuring of its Financial Obligations\nAll Company Stores Remain Open and Serving Customers in China; No Material Impact on Daily Operations Expected\nCompany Continues to Meet Trade Obligations in the Ordinary Course of Business, Including Paying Suppliers, Vendors and Employees\nBEIJING, Feb. 05, 2021 (GLOBE NEWSWIRE) -- The Joint Provisional Liquidators (the “JPLs”) of Luckin Coffee Inc. (the “Company”) (OTC:LKNCY), Alexander Lawson of Alvarez & Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez & Marsal Asia Limited, today filed a verified petition under chapter 15 of title 11 of the United States Code (the “Chapter 15 Petition”) with the United States Bankruptcy Court for the Southern District of New York (the “U.S. Bankruptcy Court”). The Chapter 15 Petition seeks, among other things, recognition in the United States of the Company’s provisional liquidation pending before the Grand Court of the Cayman Islands (the “Cayman Court”), Financial Services Division, Cause No. 157 of 2020 (ASCJ) (the “Cayman Proceeding”)1and related relief.\nThe Company is negotiating with its stakeholders regarding the restructuring of the Company’s financial obligations, to strengthen the Company’s balance sheet and enable it to emerge from the Cayman Proceeding as a going concern, for the benefit of all stakeholders. The relief sought in the Chapter 15 Petition is an important component of the Company’s restructuring. This relief will promote centralized administration of the Company’s assets by permitting coordination between the Cayman Court and the U.S. Bankruptcy Court, to protect the interests of stakeholders while facilitating the Company’s restructuring.\nAll Company stores remain open for business, offering products with high quality, affordability and convenience to its customers in China. The filing of the Chapter 15 Petition is not expected to materially impact the Company’s day-to-day operations. The Company continues to meet its trade obligations in the ordinary course of business, including paying suppliers, vendors and employees.\n______\n1The Company previously disclosed the commencement of the Cayman Proceeding on July 15, 2020.\nSafe Harbor Statement\nThis announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including Joint Provisional Liquidators. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the expense, timing and outcome of existing or future legal and governmental proceedings, investigations in connection with the Company; the outcome and effect of the ongoing restructuring of the Company’s financial obligations; the Company’s growth strategies; its future business development, results of operations and financial condition; the effect of the non-reliance identified in, and the resultant restatement of, certain of the Company’s previously issued financial results; the timing of the completion or outcome of the audit of the Company’s financial statements; the effectiveness of its internal control; its ability to retain and attract its customers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with its suppliers and business partners; trends and competition in China’s coffee industry or China’s food and beverage sector in general; changes in its revenues and certain cost or expense items; the expected growth of China’s coffee industry or China’s food and beverage sector in general; PRC governmental policies and regulations relating to the Company’s industry; the potential effects of COVID-19; and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.\nAbout Luckin Coffee Inc.\nLuckin Coffee Inc. (OTC:LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high affordability, and high convenience to customers. Empowered by big data analytics, AI, and proprietary technologies, the Company pursues its mission to be part of everyone’s everyday life, starting with coffee. The Company was founded in 2017 and is based in China.","news_type":1},"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380322532,"gmtCreate":1612517305226,"gmtModify":1704872242475,"author":{"id":"3574859362835395","authorId":"3574859362835395","name":"Theressa","avatar":"https://static.tigerbbs.com/e44b7dc324227f4e9542ccf1f32702da","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380322532","repostId":"1142907763","repostType":4,"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":380350868,"gmtCreate":1612517513354,"gmtModify":1704872247497,"author":{"id":"3574859362835395","authorId":"3574859362835395","name":"Theressa","avatar":"https://static.tigerbbs.com/e44b7dc324227f4e9542ccf1f32702da","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/380350868","repostId":"2109072140","repostType":4,"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383131485,"gmtCreate":1612849061647,"gmtModify":1704874935265,"author":{"id":"3574859362835395","authorId":"3574859362835395","name":"Theressa","avatar":"https://static.tigerbbs.com/e44b7dc324227f4e9542ccf1f32702da","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383131485","repostId":"1119217335","repostType":4,"repost":{"id":"1119217335","pubTimestamp":1612847695,"share":"https://www.laohu8.com/m/news/1119217335?lang=&edition=full","pubTime":"2021-02-09 13:14","market":"us","language":"en","title":"Who could make the iCar? Apple is running short of options","url":"https://stock-news.laohu8.com/highlight/detail?id=1119217335","media":"CNN Business","summary":"London (CNN Business) The list of carmakers that might partner with Apple is shrinking.\nHyundai and ","content":"<p><b>London (CNN Business) </b>The list of carmakers that might partner with Apple is shrinking.</p>\n<p>Hyundai and Kia killed off talk of a potential iCar deal on Monday, saying they were \"not having talks\" with the tech giant about developing autonomous electric vehicles.</p>\n<p>Apple declined to comment. It's not clear how far along the company is in developing plans for any potential car, but it has been granted patentsfor a range of vehicle inventions. \"Project Titan,\" its reportedly secretive effort to break into the auto business, has been a frequent source of rumors over the years.</p>\n<p>The denial from Hyundai and Kia followed media reports suggesting the South Korean group was close to signing a deal to manufacture electric cars forApple(AAPL), potentially in the US state of Georgia. Shares in Hyundai and Kia dropped by 6% and 15%, respectively, giving up some recent gains sparked by the speculation of a tie-up with the $2.3 trillion tech company.</p>\n<p>Investors may be overreacting. Hyundai and Kia would have burnished their reputations by partnering with Apple, and their factories would have churned out more cars. But it's not clear that partnering with Apple would have helped vault the companies to the top of global carmaking.</p>\n<p>\"If you're Apple, you clearly want control over everything to do with your product,\" said Demian Flowers, an automotive analyst at Commerzbank. \"You want a contract manufacturer, not really a partner.\"</p>\n<p>Automotive experts generally agree that if Apple wants to get into cars, it needs a partner who already makes them. The investment, expertise and workforce costs needed to manufacture millions of cars a year make it difficult for any company — even one with as much cash as Apple — to jump into the industry.</p>\n<p>With speculation mounting recently,Ford(F),General Motors(GM),Tesla(TSLA),Honda(HMC),Nissan(NSANF)and Stellantis, the new autos group formed from the merger of Fiat Chrysler(FCAU) and PSA(PUGOY), have all been floated by analysts as potential Apple partners. Yet there are good reasons why none of them may join forces with the tech company.</p>\n<p>The central question is whether Apple is willing to share its tech expertise with a carmaker, which would give them a big advantage in the race to produce electric and autonomous vehicles that integrate seamlessly with technologies such as 5G networks and cloud computing.</p>\n<p>But sharing might not be what Apple has in mind.</p>\n<p>\"Apple will not help the company that ends up doing this,\" said Flowers. \"Apple will not share anything. The only benefit you'll get from Apple is the volumes.\"</p>\n<p>A deal that does not include the sharing of technology, and close collaboration on future products, would leave the carmaker in a situation akin to that of Pegatron and Foxconn, which assemble iPhones for Apple but do not reap the huge financial rewards.</p>\n<p>Replicating that business model is something that the major carmakers appear to want to avoid.</p>\n<p>\"Volkswagen wants to develop their own autonomous driving software, they want to create their own operating system. They want control over their own data. They want to compete with the tech guys, the Teslas of this world and anybody else who comes along,\" said Flowers.</p>\n<p>\"Then you ask them, 'Will you, Volkswagen, be the contract manufacturer to a tech guy?' I just don't think they're going to agree,\" he added.</p>\n<p>Jürgen Pieper, an analyst at the German bank Metzler, agrees that big carmakers have the most to lose.</p>\n<p>\"They don't want to open the door to Apple,\" he said.</p>\n<p>Smaller automakers that aren't able to invest as heavily in electric and autonomous technology may be more open to a partnership with Apple. Hyundai was one company that fit the bill, according to analysts. Honda, Nissan, Stellantis and BMW(BMWYY) are four more.</p>\n<p>\"Maybe BMW sees it a bit differently, saying, 'OK, at some point we have to accept that Apple is entering the auto business, and if that is happening, we want to be the partner instead of anybody else,' \" said Pieper.</p>\n<p>Apple may seek to avoid battles over branding and creative control by hiring a contract producer such as Magna, which already builds cars for automakers including Mercedes-Benz, Toyota, BMW and Jaguar. Magna has even developed its own electric vehicle engineering architecture.</p>\n<p>If Apple does find a partner among the major consumer brands, the pace of change in the industry will only accelerate.</p>\n<p>\"We look forward to new competitors who will certainly further accelerate the change in our industry,\" Volkswagen CEO Herbert Diess said recently on LinkedIn. \"I have said it before: A mobility company will again be the most valuable company in the world — be it Tesla, Apple or Volkswagen AG.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Who could make the iCar? Apple is running short of options</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWho could make the iCar? Apple is running short of options\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-09 13:14 GMT+8 <a href=https://edition.cnn.com/2021/02/08/tech/apple-car-partner/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>London (CNN Business) The list of carmakers that might partner with Apple is shrinking.\nHyundai and Kia killed off talk of a potential iCar deal on Monday, saying they were \"not having talks\" with the...</p>\n\n<a href=\"https://edition.cnn.com/2021/02/08/tech/apple-car-partner/index.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NSANY":"日产汽车","0QXR.UK":"菲亚特克莱斯勒汽车公司","HMC":"本田汽车","AAPL":"苹果","F":"福特汽车","TSLA":"特斯拉","PSA":"公共存储公司","HYUD.UK":"现代汽车","GM":"通用汽车"},"source_url":"https://edition.cnn.com/2021/02/08/tech/apple-car-partner/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119217335","content_text":"London (CNN Business) The list of carmakers that might partner with Apple is shrinking.\nHyundai and Kia killed off talk of a potential iCar deal on Monday, saying they were \"not having talks\" with the tech giant about developing autonomous electric vehicles.\nApple declined to comment. It's not clear how far along the company is in developing plans for any potential car, but it has been granted patentsfor a range of vehicle inventions. \"Project Titan,\" its reportedly secretive effort to break into the auto business, has been a frequent source of rumors over the years.\nThe denial from Hyundai and Kia followed media reports suggesting the South Korean group was close to signing a deal to manufacture electric cars forApple(AAPL), potentially in the US state of Georgia. Shares in Hyundai and Kia dropped by 6% and 15%, respectively, giving up some recent gains sparked by the speculation of a tie-up with the $2.3 trillion tech company.\nInvestors may be overreacting. Hyundai and Kia would have burnished their reputations by partnering with Apple, and their factories would have churned out more cars. But it's not clear that partnering with Apple would have helped vault the companies to the top of global carmaking.\n\"If you're Apple, you clearly want control over everything to do with your product,\" said Demian Flowers, an automotive analyst at Commerzbank. \"You want a contract manufacturer, not really a partner.\"\nAutomotive experts generally agree that if Apple wants to get into cars, it needs a partner who already makes them. The investment, expertise and workforce costs needed to manufacture millions of cars a year make it difficult for any company — even one with as much cash as Apple — to jump into the industry.\nWith speculation mounting recently,Ford(F),General Motors(GM),Tesla(TSLA),Honda(HMC),Nissan(NSANF)and Stellantis, the new autos group formed from the merger of Fiat Chrysler(FCAU) and PSA(PUGOY), have all been floated by analysts as potential Apple partners. Yet there are good reasons why none of them may join forces with the tech company.\nThe central question is whether Apple is willing to share its tech expertise with a carmaker, which would give them a big advantage in the race to produce electric and autonomous vehicles that integrate seamlessly with technologies such as 5G networks and cloud computing.\nBut sharing might not be what Apple has in mind.\n\"Apple will not help the company that ends up doing this,\" said Flowers. \"Apple will not share anything. The only benefit you'll get from Apple is the volumes.\"\nA deal that does not include the sharing of technology, and close collaboration on future products, would leave the carmaker in a situation akin to that of Pegatron and Foxconn, which assemble iPhones for Apple but do not reap the huge financial rewards.\nReplicating that business model is something that the major carmakers appear to want to avoid.\n\"Volkswagen wants to develop their own autonomous driving software, they want to create their own operating system. They want control over their own data. They want to compete with the tech guys, the Teslas of this world and anybody else who comes along,\" said Flowers.\n\"Then you ask them, 'Will you, Volkswagen, be the contract manufacturer to a tech guy?' I just don't think they're going to agree,\" he added.\nJürgen Pieper, an analyst at the German bank Metzler, agrees that big carmakers have the most to lose.\n\"They don't want to open the door to Apple,\" he said.\nSmaller automakers that aren't able to invest as heavily in electric and autonomous technology may be more open to a partnership with Apple. Hyundai was one company that fit the bill, according to analysts. Honda, Nissan, Stellantis and BMW(BMWYY) are four more.\n\"Maybe BMW sees it a bit differently, saying, 'OK, at some point we have to accept that Apple is entering the auto business, and if that is happening, we want to be the partner instead of anybody else,' \" said Pieper.\nApple may seek to avoid battles over branding and creative control by hiring a contract producer such as Magna, which already builds cars for automakers including Mercedes-Benz, Toyota, BMW and Jaguar. Magna has even developed its own electric vehicle engineering architecture.\nIf Apple does find a partner among the major consumer brands, the pace of change in the industry will only accelerate.\n\"We look forward to new competitors who will certainly further accelerate the change in our industry,\" Volkswagen CEO Herbert Diess said recently on LinkedIn. \"I have said it before: A mobility company will again be the most valuable company in the world — be it Tesla, Apple or Volkswagen AG.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380324759,"gmtCreate":1612517428871,"gmtModify":1704872245390,"author":{"id":"3574859362835395","authorId":"3574859362835395","name":"Theressa","avatar":"https://static.tigerbbs.com/e44b7dc324227f4e9542ccf1f32702da","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380324759","repostId":"1142907763","repostType":4,"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380322532,"gmtCreate":1612517305226,"gmtModify":1704872242475,"author":{"id":"3574859362835395","authorId":"3574859362835395","name":"Theressa","avatar":"https://static.tigerbbs.com/e44b7dc324227f4e9542ccf1f32702da","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380322532","repostId":"1142907763","repostType":4,"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
