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Huawei Australia sees large profit and revenue growth while skirting ban impact

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Huawei ban sees TPG end rollout of Australian mobile network
Australian telco says the lack of a clear upgrade path to 5G will see it end its network rollout.

Huawei Australia experienced an 18% spike in revenue over the course of 2018, as the Australian arm of the Chinese giant collected receipts of AU$735 million compared to AU$623 million in the year prior.

Broken down by revenue type, the company saw revenue growth across the board: It increased goods sales by 19% to AU$417 million, revenue from services jumped 22% to AU$154 million, with construction payments growing by 12% to AU$164 million.

With the cost of sales increasing by 21% to AU$597 million, Huawei Australia had pre-tax profit of AU$38.7 million against AU$32 million in 2017. For the year to December 31, 2018, the company paid AU$9.3 million in income tax, whereas it paid AU$16.3 million for 2017, which led to the company posting an 89% jump in post-tax profit to AU$29.3 million.

The amount spent by the company on wages in 2018 fell from AU$49.4 million to AU$47.5 million, as it reported having 343 employees. For research and development, expenditure was steady at AU$4.7 million, however the amount of tax incentives gained dropped from AU$0.51 million to AU$0.13 million.

During 2018, the Chinese giant found itself banned from 5G rollouts in Australia, which resulted in TPG announcing it would cease the building out of its mobile network.

Despite this, the company optimistically claimed the ban “may reduce the scale and growth in the carrier network business”.

“The company will continue to pursue its objective of increasing its profitability and market share during the next financial year, with a particular focus on the enterprise and consumer business,” Huawei Australia said in its filing to ASIC.

Huawei is having better luck in the United Kingdom than Australia, where it has been allowed to deploy 5G equipment despite a report pointing out significant flaws in its equipment.

Last week, the Chinese parent company announced first quarter earnings that saw revenue jump by 39% to 180 billion yuan as it sold 59 million smartphones.

The company has previously said it wanted to be the biggest smartphone brand overall by 2020.

Huawei Australia made its filing with ASIC with an air of defiance, stating it does not believe it is a reporting entity.

“The company is not publicly accountable,” the filing said.

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2023 Cadillac Escalade V-Series confirmed: What we know of this Super SUV

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Cadillac’s most lavish model is about to get a sports upgrade, with the 2023 Escalade V-Series marking the first time the SUV has worn the badge. While already notorious for its scale, luxury cabin, and general excess, the V-Series flavor of Escalade will add performance to that mix.

Source: Cadillac

Full details of the 2023 Escalade V-Series won’t be shared until spring of this year, Cadillac has warned. These newly-released photos, meanwhile, show the pre-production form of the SUV. Still, it gives us plenty to go on, as does the trajectory of the V-Series line in general.

For Cadillac, V-Series is more than just speed

You can’t accuse Cadillac of underplaying just what a V-badged model can do. “With nearly two decades of racing-inspired prowess,” the automaker promises, “the V-Series designation is reserved for vehicles that encompass the peak of Cadillac performance, bold, distinguished design, and innovative technology.”

The route from V-Series’ founding in 2003 to today has seen a few big changes along the way. Initially intended as a way for Cadillac to compete with Mercedes-AMG and BMW’s M division, it debuted with the 2004 Cadillac CTS-V sports sedan. That managed to score a role in the original Matrix movie series, (specifically The Matrix Reloaded, released in 2003), helping secure the green-light for the second-generation V Series in 2009.

Cadillac stuck with a familiar strategy: big, high-horsepower V8 engines, paired with its Magnetic Ride Control system for a sedan that could flick from luxury cruiser to track hero at the push of a button. By the time the ATS-V arrived in 2015, however, the criteria had expanded. Smaller and more affordable than the third-generation CTS-V – which got the Corvette C7’s 6.2-liter LT4 V8 to play with – the ATS-V packed a twin-turbo V6.

Beyond that, Cadillac attempted to replicate what BMW and Mercedes had achieved, expanding “V” as a broader badge to indicate a more sporting – though not necessarily the most sporting – iteration of a regular model. It tried, and abandoned, the V-Sport trim, and has most recently settled on “V” badged models as being entry-level performance options. The CT5-V and CT4-V are the current examples of that.

Source: DW Burnett / Cadillac

Meanwhile, a new Blackwing designation flags the most extreme examples of V-Series performance. Initially referring to Cadillac’s new Blackwing engine, but since expanded, the trim has so far appeared on the CT4-V Blackwing and CT5-V Blackwing, each produced in limited number.

What we expect from the 2023 Cadillac Escalade V-Series

For the 2023 Escalade V-Series, the expectation is an evolution in performance rather than the outright leap that Blackwing badging would indicate. The current Escalade – now in its fifth-generation – already features a V8 engine as standard. That’s 6.2-liters in size and offers 420 horsepower and 460 lb-ft of torque. A 10-speed automatic is standard.

2023 Cadillac Escalade V-Series

Source: Cadillac

They’re not small numbers, but then again the Escalade is not a small SUV. One possibility for an upgrade is the V8 from the CT5-V Blackwing, supercharged and with upwards of 600 horsepower on tap. Cadillac would obviously need to upgrade other components such as the brakes to balance that uptick in power, though Magnetic Ride suspension is already available on the SUV in its current form.

2023 Cadillac Escalade V-Series

Source: Cadillac

To better distinguish the V-Series truck visually, Cadillac has given it a moody makeover. The grille switches to black mesh, and most of the chrome has been deleted in favor of gloss-black trim. The bumpers front and rear, and the side sills, have been tweaked, and of course there are vast blacked-out wheels, too.

2023 Cadillac Escalade V-Series

Source: Cadillac

For the inside, Cadillac is playing it even more coy. A single image previews the “V” badging on the steering wheel, though we’d expect a fair amount of carbon fiber and Alcantara to feature, based on the other V-Series cars. The Escalade already offers a huge, curved dashboard display and plenty of space across three rows, not to mention a whole host of toys to play with.

2023 Cadillac Escalade V-Series

Source: Cadillac

As for 2023 Escalade V-Series pricing, there too Cadillac is saving full details. The current model spirals up to over $109k for the standard-length 4WD Sport Platinum trim, and that’s before you head into the options list. A six-figure V-Series is basically guaranteed, then, as Cadillac takes on well-esteemed (and well-equipped) performance SUVs from its German rivals.

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Brabus 800 Adventure XLP Superblack is taking it to the extreme

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Renowned Mercedes-Benz tuning house Brabus has unleashed its latest creation based on the Mercedes-AMG G63 sport-luxury SUV. It’s the newest variant of the 800 Adventure XLP Superblack, a go-anywhere pickup truck hiding a mighty powerful V8 engine under the hood.

Images: Brabus GmbH
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This Airstream eStream concept is an electric camper with an innovative twist

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Thor Industries, maker of the Airstream and other popular RVs, recently unveiled the eStream electric camper concept. It’s essentially a hi-tech Airstream travel trailer with some nifty innovations hiding underneath.

Images: Thor Industries
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