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Industry

Volkswagen bets on SUVs and pickup trucks to turn around U.S. market

Volkswagen Group is treating the United States as a key base for a performance rebound and is moving to expand its SUV and pickup truck business. The plan aims to secure new growth drivers as profitability worsens in China and the group faces high U.S. tariffs. Chief executive Oliver Blume said the group is making large investments and is considering entry into off-road-focused SUV and pickup segments. The core is the Scout brand, with deliveries targeted for 2028.

Crypto

FTX-backed SWI Group to sell last three bitcoin mining sites in Kazakhstan, shift to AI infrastructure

Three remaining bitcoin mining sites in Kazakhstan operated by Genesis Digital Assets have been put up for sale. SWI Group, which controls Genesis Digital, is winding down Kazakhstan mining assets and shifting its focus to AI data centres. The Euronext Amsterdam-listed company raised 800 million euros and was valued at 6.1 billion euros. It said it will invest funds in power infrastructure and computing facilities in the United States and Sweden.

Industry

Xpeng surpasses 80 percent automation in robot production, says Iron walks off line after assembly

China EV maker Xpeng has started a new production line for its humanoid robot Iron and released footage showing the robot walking off the line after assembly. The company said more than 80 percent of key processes are automated and that it will apply its car quality-control system to keep output consistent as volumes rise. Xpeng aims to begin mass production by the end of this year and plans initial deployments at its stores and campus.