November 29, 2020 5:28:37 pm
Tesla has had a busy week with the company’s value soared over $500 for the first time. CEO Elon Musk has been the biggest beneficiary of the stock rise, as his net worth jumped $7.2 billion, making him the second richest man with an estimated worth of $127.9 billion. In other news, the Indian government this week blocked 43 Chinese apps, including AliExpress, on the grounds of national security. For the past few months, India has been banning Chinese apps following a border clash between Indian and Chinese soldiers. This week, luxury fashion house Balenciaga has revealed that it will unveil its autumn/ winter 2021 collection in an original video game.
Read about these tech stories in detail below.
Tesla’s market cap tops $500 billion
Tesla has become the world’s most valuable automaker, surpassing Toyota. The company’s market cap rose over $500 billion for the first time on Tuesday. Despite the pandemic, the electric car company’s share price has grown over 550 per cent since the start of the year. Thanks to the surging stock, CEO Elon Musk’s net worth reached $127.9 billion, according to Bloomberg’s Billionaire index. The Palo Alto-based Tesla is known for high-end, luxury electric cars. Despite that, there is a demand for Tesla cars in the market. Tesla is rumoured to launch its first car in India sometime next year.
India blocks 43 more Chinese apps
The Indian government has banned another 43 Chinese apps on the grounds of national security. The list of apps banned this week include AliExpress and TaoBao Live. Since June, India has been blocking Chinese origin apps following a border clash between the two nations. At the beginning of this year, India blocked access to 59 apps, which included TikTok, Weibo and WeChat. Later, in September, the government extended that ban to include 118 more Chinese apps, with PUBG being the biggest name to be barred from accessing in India. In total, the Indian government has banned close to 220 Chinese mobile apps.
Balenciaga to launch its new collection in video game
Balenciaga, one of the most popular luxury brands in the world, will showcase its next collection in the form of a video game. Both the game Afterworld: The Age of Tomorrow and the collection are set in 2031. The game will be free and will be playable on major internet browsers. Afterworld: The Age of Tomorrow is said to be an ‘allegorical adventure’. The Spanish label is yet to disclose more details on the game. Luxury fashion labels like Balenciaga are coming with unique ways to promote their clothing collection during the pandemic. In September, Burberry live-streamed its entire spring/summer 2021 collection via Twitch.
Sony says more PS5 units will be available later this year
The PS5 is sold out everywhere, but the company said it will make more PS5 units before the end of the year. The Japanese electronics giant took to Twitter earlier this week and said more PS5 inventory is expected to arrive before the end of the year. The PS5 has been the hottest tech item in demand but the next-generation console is impossible to find in major markets like the US and the UK. Sony hasn’t disclosed official sale numbers, though some reports suggest the company sold close to 2 million units of PS5 on the first day of launch. While the PS5 is mostly out of stock at major retailers in the US, Sony isn’t ready to disclose the availability of the console in India.
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