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Mobility

Tesla sets up Vietnam unit to take on VinFast, which dominates 92 percent of EV market

Tesla has set up a local unit in Vietnam, registering Tesla Motors Vietnam this month as it prepares to enter Southeast Asia’s largest electric vehicle market. Specific timing and business plans have not been disclosed. Local automaker VinFast dominates the market, supported by its charging and after-sales service network and an electric taxi affiliate. Analysts said Tesla may face challenges building distribution and service networks and proving charging convenience to consumers.

Crypto

Bitcoin, crypto stocks rebound after Clarity bill setback

Bitcoin regained the $80,000 level on Sept. 19, rising about 5 percent in 24 hours and briefly reaching $81,034 on Bitstamp, data showed. The move reversed a slump after the U.S. Senate failed to pass the Clarity bill on Sept. 15. Investor sentiment improved after the CFTC and SEC took crypto-related steps using existing authority. Crypto-linked stocks jumped on Sept. 18, while short liquidations rose as U.S. Treasury yields climbed.

Industry

U.S. data centres\' gas use may top Germany and Japan combined by 2035, BNEF forecast

U.S. data centres could increase natural gas consumption to 18 billion cubic feet per day by 2035, exceeding combined usage by Germany and Japan, according to a BloombergNEF forecast cited by TechCrunch. The estimate is nearly double what was projected nine months ago. Companies including Meta, Microsoft, Google and Amazon are building on-site gas generation to avoid grid delays, while grid-connected demand could add large gas use in the power sector, raising prices, power bills and emissions.