Following a report this morning from Reuters that Chinese tech giant Huawei planned to move into the electric vehicle market, Andy Purdy, chief security officer for the company's U.S. division, refuted that it would be manufacturing cars of its own.
"We're not, as a recent report said, going to be manufacturing our own electric cars," Purdy told Cheddar. However, he said the company would develop automotive computer systems.
The report comes amid Huawei's ongoing efforts to improve relations with the U.S. after the Trump administration imposed sanctions that cut the company off from a vital supply of semiconductors. The former administration also pursued criminal charges against Meng Wanzhou, chief financial officer of Huawei and daughter of the company founder, who has been under house arrest in Canada for the last two years as she fights extradition.
"We hope the Biden administration disaggregates those issues and focuses on them one-by-one," Purdy said.
He also stressed that 40,000 American jobs were on the table, which was his rough calculation of how many jobs were created by Huawei's annual purchase of 12 billion semiconductors prior to 2019, the year it bought 18 billion in order to stockpile ahead of the sanctions.
"If in the long-term, we and other companies are not allowed to buy those chips, those jobs will leave America forever," he said.
The sanctions knocked $20 billion off Huawei's revenue in 2019, he added, and that the company will announce soon what the damage was in 2020.
"We do know that we're in the black for revenue and profit for 2020, which is a good thing, but we're hurting badly and we're going to continue to hurt for the foreseeable future," Purdy explained.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
