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Electric car manufacturer Tesla has announced it is suspending for two weeks the bulk of production at its factory in Germany, citing a shortage of parts due to shipping delays caused by Huthi rebel attacks in the Red Sea. The suspension was disclosed just hours before the United States and Britain announced early Friday they had carried out air strikes against the Iran-backed rebels over their repeated threats to vessels in the key waterway. The Red Sea attacks had led to delays that created a "gap in the supply chains", resulting in production at the facility southeast of Berlin being suspended "with the exception of a few sectors", Tesla said in a statement sent to AFP. "From February 12, production will resume in full," it added. Since the start of the Israel-Hamas war, the Iran-backed Huthis have stepped up attacks on commercial and military vessels in the Red Sea in what they say is solidarity with Palestinians in Gaza. As a result, some shipping firms have opted to avoid the waterway, the gateway to the Suez Canal, forcing them to take a much longer route between Europe and Asia. Early Friday morning, heavy US and British air strikes targeted an airbase, airports, and a military camp in rebel-held Yemen, the Huthi's Al-Masirah TV station said, with AFP correspondents and witnesses also reporting hearing bombardments. US President Joe Biden called the strikes a "defensive action" after the Red Sea attacks and said he "will not hesitate" to order further military action if needed. The Tesla factory outside Berlin opened in 2022 and employs around 11,500 people, turning out about 250,000 vehicles a year, according to the company, which plans to expand the facility to double production. The post Tesla’s German factory suspends production over Red Sea delays appeared first on Daily Tribune.

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Bearish/Bullish

17.01.24 01:49

by tribune.net.ph

Power hike for January in Metro Cebu

After several reductions in power rates in Metro Cebu, Visayan Electric announced that residential consumers will experience an increase of 19 centavos per kilowatt hour for the January-February billing. The hike was due to the increase in generation rates at the Wholesale Electricity Spot Market (WESM) and the transmission charges of the National Grid Corporation of the Philippines ( NGCP). Visayan Electric in a statement said that the increase brings the average residential electricity rate from P11.43/kWh last December 2023 to P11.62/kWh. Engr. Raul Lucero, the president and COO of Visayan Electric, said that historically, energy consumption tends to spike when the weather is hot due to increased reliance on cooling appliances. He also underscores the importance of energy-conscious choices and recommends exploring natural means of cooling homes, emphasizing the significance of proper ventilation. "Natural ventilation is key to making your homes feel airy and cool, especially during the night," he said. He suggested a simple yet impactful change as swapping incandescent light bulbs for energy-efficient LEDs. Beyond the energy savings, Lucero further said, this switch helps mitigate the heat generated by incandescent bulbs, contributing to a more cost-efficient and comfortable living environment. Consequently, households consuming a minimum of 200kWh per month can anticipate an additional charge of P38.00 for the January-February billing cycle. WESM is the venue for trading electricity as a commodity in the Philippines. It was created under Section 30 of Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act (EPIRA) of 2001. Its objective is to establish a competitive, efficient, transparent, and reliable market for electricity. While NGCP is a Filipino-led privately owned company in charge of operating, maintaining, and developing the country's electricity transmission grid. The post Power hike for January in Metro Cebu appeared first on Daily Tribune.