Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Visa to Move European Headquarters to London’s Canary Wharf 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
General Motors revealed early this week that it has widened its design studio in China. The American carmaker will be focusing on the development of electric cars as it will not design and produce vehicles that run on gas any longer.
GM’s future goal for its fleet
According to Reuters, General Motors expanded its design studio in China as it is preparing to stop the production of diesel vehicles. The biggest automaker in the United States is aiming to completely get rid of gas cars by the year 2035.
Moreover, GM would like to get a bigger share of the electric vehicles market in China, which currently has the biggest EV market in the world today. The company also wants to extend its business from software to services after its electric cars are sold.
Selling EV batteries is also part of the company’s goal, and most importantly, by 2025, General Motors would like to reach an annual sales target of more than one million units of electric vehicles in the U.S. and China. To achieve its goal, GM is investing $35 million.
GM’s new studio in China
General Motor’s new advanced design studio is said to be one of the three that exist in the world. In this facility, the company will be designing EVs for future generations. It was built by redesigning the existing studio located on the same site as its tech center in Shanghai.
The expanded Advanced Design Center in Shanghai is now double in size and boasts 5,000 square meters of work area. Currently, GM is also hiring a new design team and staff for the studio. It is looking to hire designers, digital modelers, virtual reality experts, physical modelers, and support staff.
“Innovation allows us to adopt the best solutions available in a quick and agile way. We believe we now have the right strategy and the right technologies,” GM Authority quoted Julian Blissett, General Motor’s executive vice president and president of GM China, as saying in a statement. “We also believe that with facilities like the new GM China Advanced Design Center and its growing team of professionals, we have the right organizations and people to bring the most desirable products to China’s consumers in the new era of electrification and connectivity,” he added.
