BUSINESS

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Formula 1 and Mattel, Inc. have announced an exciting new multi-year global licensing partnership that will bring the thrill of F1 racing to a 1:64 scale through Hot Wheels products. This collaboration aims to captivate both young fans and adult collectors, merging the adrenaline of motor racing with the excitement of toy cars.

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Boeing announced a quarterly loss of $6.2 billion on Wednesday, impacted by a nearly six-week labor strike in its commercial plane division and significant challenges affecting its defense and space operations. The embattled aviation giant, which has been under scrutiny from regulators following safety problems, reported a one percent decline in revenues to $17.8 billion. The results had been telegraphed to the market on October 11, when newly installed Chief Executive Kelly Ortberg announced the company was cutting 10 percent of its workforce.

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Tesla is set to unveil its groundbreaking Robotaxi, also known as the Cybercab, at the “We Robot” event in Los Angeles on October 10 th . This fully autonomous vehicle, which promises to reshape the future of transportation, will be introduced by Tesla’s CEO, Elon Musk.

The Robotaxi is a fully autonomous transportation service, meaning it will have no steering wheel or pedals, completely eliminating the need for a human driver. This innovative vehicle aims to offer a more efficient and affordable alternative to traditional transportation services like Uber. Passengers will be able to request rides via an app, and the Robotaxi will autonomously navigate to pick them up and drop them off.

The official unveiling will take place during the “We Robot” event, a name that references the well-known film “I, Robot.” At this event, Musk will share all the details about this visionary product, which has the potential to revolutionize urban mobility. While the official price hasn’t been disclosed, it’s speculated that the Robotaxi could cost around $80,000, similar to Tesla’s Cybertruck.

The Robotaxi will function similarly to ride-hailing services but with one key difference: there will be no driver operating the vehicle. Owners of the Robotaxi can rent out their vehicles when not in use, creating a new business model where cars generate passive income. This proposal introduces a new way for vehicle owners to earn money, making the Robotaxi not just a mode of transport but also a potential source of income.

Elon Musk has been talking about his vision for driverless vehicles for nearly a decade, and the Robotaxi appears to be the next logical step in that evolution. Tesla’s goal is to offer a service that is cheaper than a bus ride, making it accessible to a large portion of the population. The Robotaxi is designed to operate 24 hours a day, increasing its efficiency and making it a highly competitive alternative to other forms of transportation.

Despite technological advancements, fully autonomous driving still faces significant hurdles. Regulatory challenges and local laws are among the barriers Tesla will need to overcome before the Robotaxi can operate in cities around the world. However, if anyone can make this type of transportation a reality, it’s Tesla. Musk has reiterated multiple times that his vision is for these autonomous vehicles to safely and efficiently navigate city streets, eliminating many of the risks associated with human drivers.

With the launch of the Robotaxi, Tesla aims not only to revolutionize transportation but also to redefine the relationship between people and their vehicles. By removing the need for a driver, the Cybercab promises a more efficient, cost-effective, and

autonomous future for everyone. While there are still some challenges to overcome, the release of this vehicle marks a turning point in the automotive industry.

The combination of cutting-edge technology, forward-thinking vision, and an innovative business model makes Tesla’s Robotaxi a product with the potential to transform urban mobility as we know it.

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Boeing and its striking Seattle-area workers have reached a tentative deal to end a more than month-long stoppage, the union said Saturday.

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BMW’s foray into the World Endurance Championship (WEC) with the M Hybrid V8 LMDh has been a journey marked by both promise and challenges. As the German manufacturer gears up for the 2025 season, driver Dries Vanthoor has emphasized the need for crucial upgrades to transform the car into a consistent frontrunner.

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On Tuesday, US aircraft manufacturer Boeing announced plans to bolster its cash flow, including an initiative to raise up to $25 billion, as it addresses ongoing production challenges and a significant strike in the US. In a regulatory filing, the aviation giant indicated plans to raise the funds by selling stock and debt. It also earlier announced that it was in an agreement to obtain $10 billion in credit from multiple banks.

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The German Federal Cartel Office announced on Monday that it has intensified its scrutiny of Microsoft, the American tech giant, to investigate potential abuses of its dominant market position.