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<ul class="summary-list"><li>Paul Pierce will pay $1.4 million to settle charges that he made misleading statements while promoting crypto. </li><li>The former Boston Celtics star has agreed not to promote crypto assets for three years. </li></ul>Former NBA star Paul Pierce will pay $1.4 million in a settlement with the US securities regulator over charges he made misleading statements while promoting EMAX tokens, an amount that's slightly more than Kim Kardashian paid to settle charges related to the same cryptocurrency last year. <a href="https://www.sec.gov/news/press-release/2023-34" target="_blank" rel="noopener">The Securities and Exchange Commission said Friday</a> that Pierce violated anti-touting and antifraud provisions of securities laws. It found that Pierce didn't disclose that he was paid more than $244,000 worth of EMAX tokens to promote the digital asset on Twitter. The longtime Boston Celtics player also tweeted misleading EMAX statements, the agency said. Pierce sent a Twitter message with a screenshot of an account showing large holdings and profits, but he didn't disclose that his personal holdings were "much lower" than those displayed, the SEC said. Pierce has agreed not to promote any crypto asset securities for three years as part of the settlement. "This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can't lie to investors when you tout a security," SEC Chair Gary Gensler said in a statement. EMAX tokens, a crypto asset security sold by EthereumMax, were at the center of the SEC's case against Kim Kardashian last year. The <a href="https://www.insider.com/photos-kim-kardashian-west-career-evolution-2019-2">billionaire reality TV star</a> and business owner in October <a href="https://markets.businessinsider.com/news/currencies/kim-kardashian-sec-instagram-crypto-gary-gensler-emax-securities-law-2022-10">agreed to pay $1.26 million to settle charges</a> stemming from a June 2021 Instagram post about EMAX tokens. The SEC said Friday that Pierce, without admitting or denying its findings, will pay a roughly $1.12 million penalty and about $240,000 in disgorgement and prejudgment interest. Cryptocurrency investors last year <a href="https://www.businessinsider.com/kim-kardashian-and-floyd-mayweather-sued-by-crypto-investors-2022-1">filed a class-action claim against Pierce,</a> Kim Kardashian, boxing champion Floyd Mayweather and others, alleging they mislead fans into buying EMAX tokens whose value later plunged. The <a href="https://cointelegraph.com/news/class-action-against-kim-k-mayweather-over-emax-dismissed-for-now" target="_blank" rel="noopener">lawsuit was reportedly dismissed</a>, but a California judge left the door open for the plaintiffs to refile.

Ex-NBA star Paul Pierce will pay $1.4 million to settle charges from the SEC that he made misleading statements while promoting crypto

<ul class="summary-list"><li>Ethereum max has lost 95% of its value since June 2021, when Kim Kardashian promoted it.</li><li>Investing in tokens like EMAX is risky because the value can plummet, experts have told Insider.</li></ul>If you'd been swayed by Kim Kardashian to buy ethereum max tokens last year, your holdings would have lost 95% of their value by now.Kardashian promoted the token <a href="https://www.businessinsider.com/kim-kardashian-crypto-ad-instagram-post-screenshot-2022-10">on her Instagram story</a> in June 2021 — a post that's now landed her in hot water with the Securities and Exchange Commission. The SEC announced Monday that Kardashian <a href="https://www.businessinsider.com/kim-kardashian-undisclosed-instagram-crypto-ads-sec-settlement-ethereummax-emax-2022-10">would be fined $1.26 million</a> and had agreed not to promote any crypto securities for three years to settle charges that she failed to disclose how much she'd been paid to promote ethereum max.In the 16 months since her post, the token's value has dropped 95.3%. That means that if you invested $100 after Kardashian promoted the token, your investment would be worth about $5 today.<div type="image" title="kim kardashian crypto ad" height="1334" width="750" msid="94628365" hostid="261"></div><h2>EMAX's value relies on hype from promoters like Kardashian</h2>Ethereum max, aka EMAX, has been <a href="https://www.businessinsider.com/ethereum-max-kim-kardashian-token-safemoon-crypto-coin-price-cryptocurrency-2021-6">mired in controversy</a> since launching in May 2021. The token isn't affiliated with the well-known ethereum cryptocurrency — instead, EMAX is an altcoin that uses ethereum's blockchain ledger to record sales and transactions.EMAX's value is based in hype: As investors and promoters like Kardashian spread the word, more people invest and the price goes up. (Kardashian was paid $250,000 for her post, the SEC said — presumably in US dollars, though the regulator didn't disclose that information. As part of the settlement, Kardashian neither admitted nor denied the SEC's allegations.)Altcoins like EMAX lack the stability of older types of cryptocurrencies, like bitcoin and ether. And EMAX has never reached meteoric highs like bitcoin has: At its peak in November, bitcoin was worth about $69,000 a coin, while EMAX hit a peak that equated to $0.000000051 shortly after its launch, <a href="https://coinmarketcap.com/currencies/ethereummax/">according to CoinMarketCap</a>. Tokens like EMAX make for riskier investments because once investors stop buying or start selling, the token's value can quickly plummet, <a href="https://www.businessinsider.com/ethereum-max-kim-kardashian-token-safemoon-crypto-coin-price-cryptocurrency-2021-6">crypto experts told Insider</a> last year.EMAX did just that. By January, the token's value had plunged 98%, <a href="https://www.businessinsider.com/kim-kardashian-and-floyd-mayweather-sued-by-crypto-investors-2022-1">leading investors to sue</a> Kardashian and other celebrities who had promoted the token, including the boxer Floyd Mayweather and the former NBA star Paul Pierce. Both Kardashian and Mayweather have filed motions to dismiss the suit, with their lawyers arguing that there's insufficient evidence their endorsements led to the plaintiffs to buy EMAX.While it's unclear how many people invested based off the celebrity endorsements, <a href="https://morningconsult.com/2021/09/21/kim-kardashian-crypto-celebrity/">Morning Consult data found</a> that Kardashian's advertisement reached about one in five US adults and roughly 30% of crypto owners.

If you bought EMAX crypto tokens when Kim Kardashian promoted them on Instagram, you'd have lost over 95% of your money by now

<ul><li>This year’s initial <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword> has been good for smartphone makers, with an 11% increase in sales.</li><li><keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> has emerged as the biggest smartphone maker in the first phase, followed by <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword>.</li><li>Samsung recorded a 20% market share in the first phase, followed by Apple with a 16% market share.</li></ul>The festive season is here and e-commerce platforms Amazon, Flipkart and others have started their festive sales, offering devices such as smartphones at a discounted price. According to a report by Tech Insights, <keyword id="21017681" type="General" weightage="20" keywordseo="smartphone-sales" source="keywords">smartphone sales</keyword> recorded an 11% growth in the first wave of the festive season sales in India between September 26 to October 6. Among the smartphone makers, Samsung topped the chart with a 20% market share in volume terms during the first phase. "Samsung led the smartphone sales volume with a 20% market share followed by Apple in the first wave of the festive season," Tech Insight said in a blog. Apple is also gaining speed in the Indian market, with over 10 lakh iPhones being sold during the 11-day sale period. The top-selling models for Samsung include the Samsung Galaxy M35, Galaxy S23, Galaxy A14, Galaxy S23 FE and more. "Samsung was also the main sponsor for sales events on Flipkart and Amazon which also gave it an additional push. Samsung sales in unit terms grew 17% year-on-year in 2024's first wave compared to 2023's first wave," the blog said. The platform estimates that online sales volume accounted for 78% of the total sales during the phase 1 period. It was driven by online sales festivals like Big Billion Days on Flipkart and The Great Indian Festival on Amazon India while offline sales started to pick momentum with the start of Navratri. Apple was a surprising second with a 16% market share driven by strong sales of the iPhone 15 which crossed a million mark in 11 days of sales. iPhone 13 followed but the sales gap between iPhone 15 and 13 was significant. Oppo, OnePlus, Xiaomi, and Realme were also among the top vendors in the first wave of the festive season by volume. "North region sales were less compared to other region sales due to the importance of Shradh in this region. Also, states like West Bengal and Gujrat experienced better sales compared to other regions given the preparation for the popular Durga Pooja festival in these states," the blog said. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

Samsung leads the first phase of festive sales with a 20% market share

<ul class="summary-list"><li><keyword id="6357837" type="UNKNOWN" weightage="60" keywordseo="kim-kardashian" source="Orion">Kim Kardashian</keyword>, <keyword id="11955359" type="UNKNOWN" weightage="60" keywordseo="floyd-mayweather" source="Orion">Floyd Mayweather</keyword>, and Paul Pierce are being sued by crypto investors.</li><li>The <keyword id="11921506" type="UNKNOWN" weightage="60" keywordseo="lawsuit" source="Orion">lawsuit</keyword> alleges the celebrities duped fans into buying EMAX tokens that plummeted 98% in value. </li></ul><keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">Cryptocurrency</keyword> investors are suing Kim Kardashian, Floyd Mayweather, and Paul Pierce in a lawsuit that alleges the celebrities duped fans into buying EMAX tokens that eventually plummeted 98% in value. The <a href="https://www.scribd.com/document/552290881/Crypto#fullscreen&amp;from_embed">class-action complaint</a> was filed on behalf of all investors who purchased EthereumMax tokens between May 14 and June 27, 2021. Kardashian first promoted the digital tokens in an Instagram ad she posted that June: The advertisement reached approximately <a href="https://morningconsult.com/2021/09/21/kim-kardashian-crypto-celebrity/">1 in 5 US adults</a> and 3 in 10 crypto owners, according to the data intelligence company Morning Consult. Former NBA player Paul Pierce similarly promoted EMAX on Twitter on May 26, the lawsuit says. The same day, the cryptocurrency was publicized as the "exclusive Cryptocurrency accepted for online ticket purchasing" for the Floyd Mayweather vs. Logan Paul boxing match. By mid-July, EMAX had crashed to a record-low of $0.000000017 per unit, according to the lawsuit. Meanwhile, the defendants "marketed the EMAX Tokens to investors so that they could sell their portion of the float for a profit," the claim alleges. "In plain terms, EthereumMax's entire business model relies on using constant marketing and promotional activities, often from "trusted" celebrities, to dupe potential investors into trusting the financial opportunities available with EMAX Tokens," the lawsuit says.Attempts to reach representatives for Kardashian, Pierce, and Mayweather for comment were unsuccessful.

Kim Kardashian and Floyd Mayweather have been sued by investors over 'misleading' cryptocurrency promotions

<ul class="summary-list"><li>Kim Kardashian violated a 1930s securities law in promoting crypto on her Instagram, the head of the SEC said. </li><li>The SEC said Kardashian had violated Section 17(b) of the Securities Act of 1933. </li></ul>Securities and Exchange Commissioner Chair Gary Gensler on Monday said Kim Kardashian was charged over an Instagram post touting a crypto security because she didn't disclose information that's required under a decades-old US securities law. The SEC said Monday Kardashian will pay $1.26 million to settle charges stemming from a June 2021 Instagram post about <a href="https://www.coingecko.com/en/coins/ethereummax">EMAX tokens</a>, a crypto asset security sold by EthereumMax. In an October 3 <a href="https://www.sec.gov/litigation/admin/2022/33-11116.pdf">administrative filing</a> by the Securities and Exchange Commission, the regulator in imposing a cease-and-desist order said Kardashian had violated Section 17(b) of the Securities Act of 1933. "Part of that law said that if you tout a stock, you need to disclose not only that you're getting paid but also the amount - so the source and the nature of those payments," <a href="https://www.cnbc.com/video/2022/10/03/sec-chair-gary-gensler-breaks-down-charges-against-kim-kardashian-over-a-crypto-promo.html">Gensler said in a CNBC interview</a> on Monday. The TV reality star's post contained "#ad" - a hashtag used by influencers on social media to signify that a post is an advertisement. But the SEC said it found Kardashian failed to disclose that she was paid $250,000 to publish the post about EMAX tokens. Her post contained a link to the EthereumMax website that had instructions for potential investors to purchase the tokens, the regulator said. Gensler said the ad hashtag may be appropriate under other laws to use on promotions for products such as perfume or vacation homes. "But these are the securities laws … and this was really to protect the investing public when somebody is touting a stock, and whether that's a celebrity, an influencer or the like, that's at the core of what this is about." The SEC in announcing its action against Kardashian on Monday <a href="https://twitter.com/GaryGensler/status/1576897535427448832">released a video featuring Gensler</a> centered on its message that investment products promoted by celebrities and influencers do not mean they are appropriate vehicles for everyone. The chairman in the CNBC interview noted the SEC had previously <a href="https://www.businessinsider.com/sec-floyd-mayweather-jr-dj-khaled-illegally-touted-icos-2018-11">charged boxing champion Floyd Mayweather and record producer DJ Khaled</a> over promoting a Centra Tech initial coin offering without either of them disclosing they were being paid. The <a href="https://www.sec.gov/news/press-release/2018-268">2018 charges</a> were the SEC's first cases to charge touting violations involving ICOs. Mayweather and Khaled each agreed to pay more than $100,000 in fines to settle charges without admitting or denying the findings. Kardashian, without admitting or denying the findings, also agreed not to promote any crypto asset securities for three years, the SEC said. Crypto "is a highly speculative asset class. And so when a celebrity or influencer is touting it, it's important that the public understands that relationship and are they getting paid and how much they're getting paid on their Instagram site," Gensler said. Kardashian cooperated with the SEC and is "pleased" to have resolved the matter so that she can focus on her business pursuits, her lawyer <a href="https://www.businessinsider.com/kim-kardashian-undisclosed-instagram-crypto-ads-sec-settlement-ethereummax-emax-2022-10">said in a statement provided to Insider</a>. "I want to acknowledge Miss Kardashian has been cooperating and [providing] ongoing cooperation and we really appreciate that," Gensler said during the interview. EMAX tokens on Monday shot up 10% to $0.000000004935, according to CoinGecko.

Kim Kardashian ran afoul of a 1930s securities law in her Instagram post touting the EMAX crypto token, SEC Chair Gary Gensler says

<ul class="summary-list"><li>Kim Kardashian has agreed to pay $1.26 million to settle charges relating to an Instagram post about a crypto company.</li><li>Kardashian was paid $250,000 to publish a post about EMAX tokens, the SEC said Monday.</li></ul>Kim Kardashian has agreed to pay $1.26 million to settle charges relating to a post about a cryptocurrency company she shared on Instagram without disclosing how much she'd been paid to do so.The reality TV star had failed to disclose that she was paid $250,000 to publish a post about EMAX tokens, a crypto asset security sold by EthereumMax, <a href="https://www.sec.gov/news/press-release/2022-183">the Securities and Exchange Commission said in a statement Monday.</a>The post on her Instagram Story, from June 2021, contained a link directing her followers to the company's website. She was among <a href="https://www.businessinsider.com/ethereum-max-kim-kardashian-token-safemoon-crypto-coin-price-cryptocurrency-2021-6">many celebrities touting the token</a>."Are you guys into crypto????" the post read. "This is not financial advice but sharing what my friends just told me about the Ethereum Max token!""A few minutes ago Ethereum Max burned 400 trillion tokens- literally 50% of their admin wallet giving back to the entire E-Max community."The SEC announced Monday that Kardashian had agreed to the settlement and to cooperate with the ongoing investigation, without admitting or denying the agency's findings.The SEC said that Kardashian had violated the anti-touting provision of the federal securities laws. Her settlement included $250,000 in disgorgement for the original payment she was given, plus $10,000 in interest, and a $1 million penalty.Kardashian also agreed to not promote any crypto asset securities for three years, the SEC said."This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn't mean that those investment products are right for all investors," SEC Chair Gary Gensler said in a statement."Ms. Kardashian's case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities."Kardashian is "pleased" to have resolved the matter, her lawyer said in a statement provided to Insider."Kardashian fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter," her lawyer said. "She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits."

Kim Kardashian agrees to pay SEC $1.3 million over undisclosed Instagram crypto post payments

<ul class="summary-list"><li>Sales of electric cars in China are expected to rise at a slower pace this year.</li><li>That's likely to be a problem for Tesla too.</li></ul><a target="_blank" href="https://www.businessinsider.com/china-byd-tesla-electric-car-ev-race-2023-11">BYD</a> and <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> both posted <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-regain-title-top-electric-car-maker-2024-4">anemic first-quarter sales</a> this week, serving up a reminder that demand for electric cars appears to be stalling around the world.China, the world's largest EV market, hasn't been immune from the slowdown.The country's Passenger Car Association expects sales of new-energy vehicles to climb 25% to 11 million this year, according to figures reported by Bloomberg. That's a healthy rise, but still well below last year's growth rate of 36%.Any signs of weakening demand in China are a red flag for Tesla, which is already struggling to keep up with its local rivals' aggressive price cuts."I think a big part of Tesla's first-quarter deliveries miss came from China," Seth Goldstein, an equities strategist for Morningstar who chairs the research firm's EV committee, told Business Insider. "There's a lot of price competition, and we're seeing consumers go to other brands with cheaper offerings."<h2>Tesla waves the white flag</h2>Tesla slashed the prices of the Model 3, S, X, and Y in China last year in a bid to compete with local rivals including market leader BYD, which sells much cheaper vehicles such as <a target="_blank" href="https://www.businessinsider.com/byd-seagull-cheap-ev-electric-car-tesla-china-2023-4">the $11,000 Seagull</a>.The cuts helped Telsa log record delivery numbers, and kept its share price high — but it still lost its title as <a target="_blank" href="https://www.businessinsider.com/china-byd-tesla-electric-car-ev-race-2023-11">the world's top EV seller for 2023</a> to BYD.CEO Elon Musk appears to have backed away from the price cuts strategy this year, however. That's a sign he knows Tesla <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-price-cuts-electric-cars-losing-business-strategy-2023-11">can't win the price war</a> and remain profitable, Goldstein said."Last year was the year of the price cut, in order to grow volumes, and it worked," he said. "But Tesla now seems to have made the decision that for now, they're happy where their unit profits are at."Holding prices steady in China appears to have backfired, though. Tesla completely missed Wall Street forecasts for deliveries — and its market share in the world's second-largest economy has fallen to around 7%, per Bloomberg estimates, down from 11% in early 2023.<div type="image" title="Musk in China" height="729" width="1024" msid="109062945" hostid="261"></div><h2>Bad news for BYD</h2>Americans are shunning electric cars due to concerns about charging and the emergence of <a target="_blank" href="https://www.businessinsider.com/hybrid-electric-cars-trucks-evs-transport-ford-maverick-toyota-2024-3">cheaper hybrids</a> — but the reasons for the slowdown in China are more complex.There are plenty of public charging stations — about 2.7 million as at the end of 2023, according to the China Electric Vehicle Charging Infrastructure Promotion Alliance. And the mid-market hatchback options offered by BYD are some of China's best-selling cars.However, some would-be buyers found <a target="_blank" href="https://restofworld.org/2024/china-ev-industry-slowdown/">local companies' constant price cuts irritating</a>. BYD slashed the cost of one model by a total of 15,000 yuan ($2,100) in a matter of months last year, reducing its value on the secondhand market and making people more hesitant to buy one.China's economy has also struggled since the end of the pandemic, with <a target="_blank" href="https://www.businessinsider.com/china-economy-markets-deflation-chart-investors-consumer-prices-outlook-beijing-2024-3">deflationary pressures</a> and an ongoing <a target="_blank" href="https://www.businessinsider.com/china-economy-housing-market-real-estate-crash-investors-outlook-construction-2024-3">property-market crisis</a> fueling a decline in consumer spending.BYD makes most of its sales in China — and the tally rose 43% to about 300,000 in the first three months of the year, according to a stock market filing this week. That increase was not enough to stop Tesla from reclaiming its title as the <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-regain-title-top-electric-car-maker-2024-4">world's top electric car maker</a> despite its own dismal delivery numbers for the same period.Tesla makes the Model 3 and Model Y at its Shanghai factory and recently reduced production from six-and-a-half days a week to five, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-22/tesla-trims-output-of-cars-in-china-amid-slower-ev-sales-growth">Bloomberg reported</a>, in a sign of waning demand for its cars in China.If China joins the US in loving EVs a little less, both Tesla and BYD could be in for a difficult 2024.

China has a problem with electric cars and that's bad news for Elon Musk

Chinese electric carmaker <keyword id="6482256" type="General" weightage="50" keywordseo="byd-india" source="Orion">BYD India</keyword> on Wednesday unveiled its new luxury sedan <keyword id="15977324" type="General" weightage="50" keywordseo="byd-seal" source="Orion">BYD Seal</keyword> which, it said, will be launched in the country during the last quarter of 2023. The Chinese electric car maker also claimed that <keyword id="67247" type="General" weightage="100" keywordseo="byd" source="Orion">BYD</keyword> Seal has a range of up to 700 km on a single charge. "With the unveiling of the electric luxury sedan BYD Seal, and the launch of the limited edition of BYD ATTO 3, Blade Battery, and the e-Platform 3.0, we resonate our commitment to contribute to the growth of the Indian electric vehicle segment with future EV technologies," <keyword id="13023382" type="General" weightage="50" keywordseo="sanjay-gopalakrishnan" source="Orion">Sanjay Gopalakrishnan</keyword>, Senior Vice President of Electric Passenger Vehicles of BYD <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, said. Only 1,200 units of this limited edition of BYD ATTO 3 will be available in India at Rs 34.49 lakh (ex-showroom). "Today, we are also very honored to announce that the first batch of BYD ATTO 3 delivery starts. This calendar year, we plan to sell 15,000 units of BYD ATTO 3 &amp; All-New e6. The bookings of BYD ATTO 3 have been very encouraging, and we are all set to start the first deliveries from January 2023," said Gopalakrishnan. BYD Seal is BYD India's third model for the passenger EV segment in India after All New e-6 electric MPV and BYD ATTO 3 e-SUV, both of which are already on sale. BYD India expanded its network to 24 showrooms across 21 cities in just one year and plans to double the presence to 53 showrooms within 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/kia-showcases-concept-ev9-electric-car-with-solar-panels-carnival-ka4-mpv/slidelist/96908322.cms">Kia showcases Concept EV9 electric car with solar panels, Carnival KA4 MPV</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/auto-expo-2023-hyundai-launches-ev-ioniq-5-that-can-run-631-kms-on-a-single-charge/articleshow/96908838.cms">Auto Expo 2023: Hyundai launches EV Ioniq 5 that can run 631 kms on a single charge</a>

Auto Expo 2023: Chinese electric carmaker BYD India to launch luxury sedan in 2023's last quarter

Team India will look to seal the series as they lock horns with Bangladesh in the second T20I of the three-match series at the Arun Jaitley Stadium on Wednesday. Suryakumar's side has already taken a 1-0 lead in the series after clinching a seven-wicket victory over Bangladesh in the first T20I match in Gwalior. India and Bangladesh have faced each other on 15 occasions in the shortest format of the game so far. The Men in Blue have dominated the visitors as they have managed to emerge victorious 14 times. Speaking of the team's form in this format in recent times, the hosts have won all their last five encounters. On the other hand, the Najmul Hossain Shanto-led side have won only one game out of their last five. In the 17th edition of the Indian Premier League this year only five matches took place at the Arun Jaitley Stadium. In these five matches, the teams were able to cross the 200-run mark in eight innings out of ten. So, the match is expected to be a high-scoring clash. The weather at the venue is believed to be clear, with a little bit of dew later in the match, according to ESPNcricinfo. India's left-arm speedster <keyword id="19914486" type="General" weightage="20" keywordseo="Arshdeep-Singh" source="keywords">Arshdeep Singh</keyword> asserted that skipper <keyword id="19908088" type="General" weightage="100" keywordseo="Suryakumar-Yadav" source="keywords">Suryakumar Yadav</keyword> and head coach Gautam Gambhir will check the wicket and share the plan for the game. "We [Punjab Kings] did not play here this IPL, but after seeing the scores, I did not feel like checking the wicket. But yeah, we will come tomorrow and see what could be a good plan here. And of course, the captain and the coach will check the wicket and share their plan," Arshdeep Singh said in the pre-match press conference as quoted by ESPNcricinfo. Further the Bangladesh all-rounder Mahmudullah heaped praise on the team's bowlers saying that they have been doing a wonderful job in the last few years. "Our bowlers are doing a wonderful job for the last few years. I don't think we played that badly in the first game. We shouldn't doubt ourselves based on one game. That'd be unfair. We have to come out of that zone and try to win the game. We tried to play aggressively with the bat. We have to be more organised, which will serve us better," Mahmudullah said. Mahmudullah announced his decision to retire from T20I cricket on Saturday to shift his focus to the ODI format. The final T20I between India and Bangladesh at Rajiv Gandhi International Stadium, Hyderabad, will mark Mahmudullah's final appearance in Bangladesh colours in the T20I format. Squads: India: Sanju Samson (wk), Abhishek Sharma, Suryakumar Yadav (c), Nitish Reddy, Hardik Pandya, Riyan Parag, Rinku Singh, Washington Sundar, Varun Chakaravarthy, Arshdeep Singh, Mayank Yadav, Jitesh Sharma, Tilak Varma, Ravi Bishnoi, Harshit Rana. Bangladesh: Parvez Hossain Emon, Litton Das (wk), Najmul Hossain Shanto (c), Towhid Hridoy, Mahmudullah, Jaker Ali, Mehidy Hasan Miraz, Rishad Hossain, Taskin Ahmed, Shoriful Islam, Mustafizur Rahman, Mahedi Hasan, Tanzid Hasan, Rakibul Hasan, Tanzim Hasan Sakib. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms" target="_blank">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a><a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms" target="_blank">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a><a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms" target="_blank">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

India eye series win as they take on Bangladesh in 2nd T20I

<ul class="summary-list"><li>Chinese EV firms like BYD have been effectively shut out of the US thanks to high tariffs.</li><li>Many of them sell their electric vehicles in Europe, despite the EU introducing its own tariffs.</li></ul>US tourists who visited Europe this summer may have spotted some unfamiliar EVs on the road — some of which will have been built in China.<a target="_blank" class="" href="https://www.businessinsider.com/byd-saic-chinese-ev-makers-plot-world-takeover-2024-6#">China's electric vehicle</a> giants were <a target="_blank" class="" href="https://www.businessinsider.com/china-evs-tariffs-joe-biden-transport-2024-5">effectively shut out of the US in May</a>, when the government imposed crippling tariffs on China-based EV companies amid growing geopolitical tensions.The tariffs, designed to prevent the US auto market from being flooded with cheap Chinese EVs, have made it virtually impossible for companies like BYD to export their EVs stateside.The European Union set out <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-companies-hit-with-new-tariffs-in-the-eu-2024-6">its own trade restrictions on China's Tesla rivals in June</a> — but unlike in the US, many have a sizable presence in the European market.Here are some of the Chinese electric vehicles that European drivers can buy right now but US drivers can't:<h2 id="8c27c4d8-53fb-4dcf-a9e7-30de84bd3e37">BYD</h2><div type="image" title="BYD Seal" height="683" width="1024" msid="113258283" hostid="261" sizebytes="34490"></div><a target="_blank" class="" href="https://www.businessinsider.com/tesla-rival-byd-chinese-evs-expands-in-europe-new-factory-2024-7">BYD</a><a target="_blank" href="https://www.businessinsider.com/tesla-rival-byd-chinese-evs-expands-in-europe-new-factory-2024-7"> is expanding rapidly in Europe</a>, and plans are underway to build two factories in Hungary and Turkey in the coming years.The Warren Buffett-backed automaker sells <a target="_blank" class="" href="https://www.byd.com/eu">six EV models in Europe </a>— from the Dolphin Hatchback, which <a target="_blank" class="" href="https://www.byd-cars.de/marken/byd/dolphin#8dfa9335-fae6-48ae-ade9-929a8d4761ba">costs from €32,990</a> ($36,400), to the Han sedan, which <a target="_blank" class="" href="https://www.byd-cars.de/marken/byd/han#a658351d-cfa0-49fd-b324-ff9e61445dd1">starts at €69,000</a> ($76,100) in Germany.Despite the EU imposing <a target="_blank" href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4301">a 17% import tariff on BYD in August</a>, the company isn't slowing down. As it competes with Tesla worldwide, it plans to <a target="_blank" href="https://www.businessinsider.com/byd-cheap-ev-seagull-coming-to-europe-china-us-tariffs-2024-5">bring its $10,000 Seagull EV to Europe in 2025</a>.<h2 id="28cbf932-e633-467a-ba74-145fd9eebf92">Nio</h2><div type="image" title="Nio ET7" height="742" width="1024" msid="113258297" hostid="261" sizebytes="65766"></div>Chinese EV brand Nio is known in its home country <a target="_blank" class="" href="https://www.businessinsider.com/ev-battery-swapping-china-rescue-us-revolution-2024-2">for its battery swapping stations</a>, designed to prevent long charging times by removing flat batteries and replacing them with fully charged ones.Like BYD, Nio has been expanding in Europe, establishing battery swap stations across the continent and <a target="_blank" class="" href="https://www.nio.com/news/nio-house-amsterdam?&amp;noredirect=">selling six models as of May 2024</a>.That includes the stylish ET7, which Nio says comes with an <a target="_blank" class="" href="https://www.nio.com/et7?&amp;noredirect=">AI-powered suspension and an estimated 1,000km (620 mile) range</a>.<h2 id="93224fa1-31bc-45f4-8dc3-cadaccde6d4f">Xpeng</h2><div type="image" title="Xpeng G6" height="684" width="1024" msid="113258292" hostid="261" sizebytes="71784"></div>Xpeng is known for its quirky EV models, including a <a target="_blank" class="" href="https://www.businessinsider.com/xpeng-tesla-rival-flying-car-prototype-drone-evtol-2022-11">flying car</a>.In Europe, the automaker sells its G9, G6, and P7 models in various markets, including Denmark, Sweden, and Norway.<h2 id="985d743a-d9a6-45bc-82ed-a4c4ae7f187f">Zeekr</h2><div type="image" title="Zeekr 001" height="683" width="1024" msid="113258285" hostid="261" sizebytes="39634"></div>Chinese manufacturer Zeekr is one of many companies <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-byd-selling-record-cars-tesla-competition-deliveries-2024-7">vying to take on Tesla in China.</a> It has two models available in parts of Europe.Both the Zeekr X and the Zeekr 001 are luxury EVs priced between <a target="_blank" class="" href="https://shop.zeekr.eu/en-nl/configuration/?linkCode=1">42,490 euros and 59,490 euros ($46,800 to $65,600)</a> in the Netherlands. The Zeekr 001 boasts an estimated <a target="_blank" class="" href="https://www.zeekr.eu/models/001">620km (385 miles) of range and 0 to 60 mile acceleration in 3.8 seconds</a>.Like many other Chinese automakers, Zeekr faces EU's tariffs. CEO Andy An <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-19/geely-s-zeekr-considers-building-evs-in-europe-to-avoid-tariffs">told Bloomberg that</a> the company may move production to Europe in the coming years as a result.<h2 id="3d2d47ce-d5f2-48a3-b76e-1431dec40a8b">MG</h2><div type="image" title="The MG Cyberster" height="681" width="1024" msid="113258295" hostid="261" sizebytes="64984"></div>Historic British car brand MG is owned <a target="_blank" class="" href="https://www.reuters.com/article/business/saic-to-sell-mg-cars-in-eu-by-year-end-idUSTRE60O088/">by one of China's largest automakers, SAIC Motor</a>.Since it came under SAIC Motor's control, MG has <a target="_blank" class="" href="https://www.bbc.co.uk/news/uk-england-birmingham-37449289">moved some of its vehicle production to China</a> and produced a series of electric models, including the MG4.This electric hatchback starts at <a target="_blank" class="" href="https://www.mg.co.uk/new-cars/mg4-ev">£26,995 ($35,300)</a> in the UK, making it <a target="_blank" class="" href="https://www.tesla.com/en_gb/model3/design#overview">£12,995 ($17,000) cheaper</a> than Tesla's least expensive offering in the country.MG also recently launched the Cyberster, a stylish electric roadster that is available <a target="_blank" class="" href="https://www.mgcyberster.co.uk/configurator">for preorder in the UK for £54,995 ($72,000)</a>.As of yet, there's no sign of the MG4 or the Cyberster coming to the US — although MG is planning to <a target="_blank" class="" href="https://www.reuters.com/business/autos-transportation/mg-motor-build-manufacturing-plant-rd-center-mexico-2024-08-08/">build a manufacturing plant in Mexico</a>, a move some US lawmakers have warned could provide Chinese manufacturers <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-companies-byd-mg-plan-factories-mexico-washington-concern-2023-12">with a "backdoor" to the US market</a>.

Chinese EVs you can buy in Europe — but not in the US

<ul class="summary-list"><li>Kim Kardashian agreed to pay $1.26 million to settle charges related to a crypto ad, the SEC said.</li><li>Kardashian failed to disclose how much she was paid to promote a crypto asset on Instagram.</li></ul>Kim Kardashian recently found herself in hot water with the Securities and Exchange Commission by posting this story to her 330 million Instagram followers in June 2021.<div type="image" title="kim kardashian crypto ad" height="1334" width="750" msid="94626155" hostid="261" sizebytes="64704"></div>"Are you guys into crypto????," said the post, which had a link to the EthereumMax website. "This is not financial advice but sharing what my friends just told me about the Ethereum Max token! A few minutes ago Ethereum Max burned 400 trillion tokens — literally 50% of their admin wallet giving back to the entire E-Max community."The SEC said on Monday that Kardashian failed to disclose how much she was paid for the Instagram post promoting EMAX tokens, a crypto asset sold by EthereumMax, in violation of federal securities laws.What got Kardashian in trouble is that she only included the hashtag "#Ad" at the bottom of the post — not a lengthier disclosure mentioning how much she was paid. While celebrities and influencers have long used disclosures like "#Ad" to tell audience that a post is sponsored or paid for, the disclosure requirements for promoting cryptocurrencies and tokens, which are considered securities by the SEC, are more strict."The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion," said Gurbir S. Grewal, director of the SEC's enforcement division. "Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information."Kardashian was paid $250,000 to publish the post, according to the agency. She's <a href="https://www.businessinsider.com/kim-kardashian-undisclosed-instagram-crypto-ads-sec-settlement-ethereummax-emax-2022-10">agreed to pay $1.26 million</a> to settle the charges, the SEC announced. She also agreed not to promote any crypto assets for three years.As part of the settlement, Kardashian has not admitted to or denied the SEC's allegations."Kardashian fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter," her lawyer <a href="https://www.businessinsider.com/kim-kardashian-undisclosed-instagram-crypto-ads-sec-settlement-ethereummax-emax-2022-10">told Insider in a statement</a>. "She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits."

This is the Instagram post that got Kim Kardashian in hot water with the SEC — leading to a $1.26 million settlement payment

<ul class="summary-list"><li>China is the biggest market for electric vehicles on the planet. </li><li>It's a crucial battleground for Tesla, where rival BYD is about to officially steal its crown as most popular. </li></ul>China is the biggest market in the world for electric cars and a crucial region for <a href="https://www.businessinsider.com/tesla">Tesla</a>, the world leader in battery-powered car sales. But the country's electric vehicle market is ripe with competition from established automakers and startups. Although the <a href="https://www.businessinsider.com/tesla-model-y-review-interior-price-first-drive-2022-9">Tesla Model Y</a> was the second-best-selling electrified SUV in China in 2022, many other models are making things difficult for Elon Musk.<a href="https://markets.businessinsider.com/news/stocks/warren-buffett-elon-musk-berkshire-hathaway-sells-byd-stock-electric-2023-5">BYD </a>is about to <a href="https://www.bloomberg.com/news/features/2023-12-27/elon-musk-s-tesla-is-losing-ev-race-to-china-s-byd?srnd=premium">overtake Tesla</a> as the world's most-popular EV brand by sales thanks to a slew of fun and affordable models that don't resemble anything you can buy in the <a href="https://www.businessinsider.com/electrc-vehicle-demand-problem-affordability-expense-price-cost-2023-10">United States, where there aren't many particularly cheap options to choose from.</a>The Warren Buffett-backed company sold just a few thousand cars shy of Tesla in the third quarter, and fourth-quarter data could finally tip the scales in the coming days. The models listed below were China's most popular non-Tesla electrified SUVs in 2022, according to <a href="https://cnevpost.com/2023/01/12/top-performers-in-china-nev-market-in-dec-2022-cpca/#:~:text=Top%2Dselling%20new%20energy%20SUVs%20at%20retail%20in%20China%20in%202022" target="_blank" rel="noopener">data gathered by CnEVPost</a>. (Note: Since China considers both electric and plug-in hybrid vehicles as "new energy vehicles," this ranking includes both types of EVs.)<h2>BYD Song</h2><div type="image" title="The BYD Song Plus DM-i plug-in hybrid." height="1667" width="2500" msid="97498394" hostid="261"></div>The Song is Warren Buffett-backed <a href="https://markets.businessinsider.com/news/stocks/warren-buffet-berkshire-hathaway-byd-ev-ford-germany-production-plant-2023-1">BYD's</a> top-selling electrified vehicle. It comes as both a plug-in hybrid and a full-blown EV. Plus, it's now available outside of China.<div type="image" title="The BYD Song Plus DM-i plug-in hybrid." height="1630" width="2500" msid="97498395" hostid="261"></div> BYD launched the Song Plus DM-i hybrid in Brazil recently, where it costs roughly $53,000 and provides 62 miles of electric range.<h2>BYD Yuan Plus</h2><div type="image" title="The BYD Yuan Plus." height="1735" width="2500" msid="97498396" hostid="261"></div>The Yuan Plus, also known as the Atto 3 in some markets, boasts 201 horsepower and hits 62 mph in 7.3 seconds, BYD says. The firm quotes a range of up to 298 miles. In Europe, the Yuan Plus costs roughly $41,300.<h2>BYD Tang</h2><div type="image" title="The BYD Tang electric SUV." height="1107" width="1476" msid="97498398" hostid="261"></div>The Tang is bigger, rangier, and more expensive than the Song and Yuan Plus. It can hit 62 mph in 4.4 seconds and drive more than 300 miles on a full battery, BYD says. It's available with dual motors and all-wheel drive and has a panoramic sunroof.<div type="image" title="The BYD Tang." height="1080" width="1620" msid="97498400" hostid="261"></div>Like other BYD models, it has a sleek, futuristic, screen-heavy interior. It costs the equivalent of roughly $78,000 in Europe. <h2>Aion Y</h2><div type="image" title="The Aion Y." height="1667" width="2500" msid="97498403" hostid="261"></div>The Aion Y comes from GAC, a state-owned automaker. The bold-looking SUV is about as big as a Toyota RAV4, promises 379 miles of range, and offers up several bright interior options.<h2>Neta V</h2><div type="image" title="The Neta V." height="1667" width="2500" msid="97498404" hostid="261"></div>The Neta V has a 14.6-inch, portrait touchscreen, Tesla-inspired wood trim across its dash, and up to 249 miles of range. Acceleration doesn't seem terribly impressive: It claims to hit 31 mph in 4.9 seconds.<h2>Li Auto Li ONE</h2><div type="image" title="Li Auto One." height="1667" width="2500" msid="97498406" hostid="261"></div><a href="https://www.businessinsider.com/china-united-states-electric-vehicle-market-share-auto-brands-pricing-2023-1">Li Auto</a> is a young auto startup that started production in 2019. The Li One was its debut SUV — a plug-in hybrid, six-seat, luxury vehicle. The stylish SUV has a leather-filled interior, a wide array of screens, and 671 miles of hybrid range.<h2>Zeekr 001</h2><div type="image" title="The Zeekr 001." height="1667" width="2500" msid="97498407" hostid="261"></div>Zeekr is the <a href="https://www.businessinsider.com/polestar-2-vs-tesla-model-3-range-performance-electric-2023-1">premium electric brand from Geely</a>, the Chinese auto group that also owns Volvo and Lotus. The 001 is its first model.It brings intense performance, with a 0-62-mph time of 3.8 seconds. Plus, it advertises extremely quick charging speeds and the ability to add around 75 miles of range in just five minutes plugged in.

You Searched For "BYD eMax 7 charging" and got 12 results

Ex-NBA star Paul Pierce will pay $1.4 million to settle charges from the SEC that he made misleading statements while promoting crypto

Carla Mozée

If you bought EMAX crypto tokens when Kim Kardashian promoted them on Instagram, you'd have lost over 95% of your money by now

Avery Hartmans

Samsung leads the first phase of festive sales with a 20% market share

Sourabh Jain

Kim Kardashian and Floyd Mayweather have been sued by investors over 'misleading' cryptocurrency promotions

Hannah Towey

Kim Kardashian ran afoul of a 1930s securities law in her Instagram post touting the EMAX crypto token, SEC Chair Gary Gensler says

Carla Mozée

Kim Kardashian agrees to pay SEC $1.3 million over undisclosed Instagram crypto post payments

Grace Dean

China has a problem with electric cars and that's bad news for Elon Musk

George Glover

Auto Expo 2023: Chinese electric carmaker BYD India to launch luxury sedan in 2023's last quarter

IANS

India eye series win as they take on Bangladesh in 2nd T20I

ANI

Chinese EVs you can buy in Europe — but not in the US

Tom Carter

This is the Instagram post that got Kim Kardashian in hot water with the SEC — leading to a $1.26 million settlement payment

Travis Clark

Tesla's biggest Chinese rival is about to overtake Elon Musk. These fun and affordable models show why.

Tim Levin

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