Tesla hits another record
Plus: South Korean ISP is suing Netflix over Squid Game & Ford and General Motors are working to settle their “cruise” battle
Hello there,
Over the weekend, Tesla (TSLA) announced that it had delivered a record EV in the third quarter crushing expectations.
Why this matters: The company has weathered the chip storm better than most, with its overall deliveries surging 20% in the third quarter. CEO, Elon Musk, said that Tesla suffered a severe parts shortage earlier in the quarter so he urged his employees to make a quarter-end delivery push. Tesla delivered 241,300 vehicles globally in the July to September quarter, up 73% from a year earlier. (Yahoo Finance)
South Korean ISP is suing Netflix over Squid Game
A South Korean Internet service provider, SK Broadband is suing Netflix (NFLX) to pay for its increased network costs.
Why this matters: The South Korean court sided with SK Broadband’s concerns suggesting that Netflix was responsible for the demand its content puts on them, because of popular Korean Netflix dramas like Squid Game and D.P. The court said that the company has the obligation of paying the price for the services to SK Broadband, the “price” in question is estimated at 27.2 billion won (around $23 million) for 2020 alone. (The Verge)
Ford and General Motors are working on settling their “cruise” battle
Ford (F) and General Motors (GM) have announced their plans to settle trademark battle over the term “Cruise”.
Why this matters: In case you don’t know, GM had filed a trademark infringement lawsuit against Ford over the term “cruise”. Ford, in response, filed a motion to have the suit dismissed citing that the term has been in use and customers cannot associate it with just one carmaker. Their attorneys have said that they are now working on a settlement and asked the court to give them a conditional dismissal. (The Verge)
That’s it from us
See you tomorrow.