Telstra is set to buy into Southern Cross Cable Network through the purchase of new shares that will give the telco a 25 percent stake in the company.
The telco has also agreed to purchase “substantial” capacity on Southern Cross’ existing network and the NEXT subsea cable.
New Zealand telco Spark said that as a result of Telstra’s share purchase, its holding will be diluted to around 37.5 percent. Other shareholders of Southern Cross are Singapore’s Singtel, and Verizon Business.
“Telstra has long been a key customer of Southern Cross and this investment will mean Telstra has an immediate ownership interest in the existing Southern Cross network, as well as in Southern Cross NEXT,” Telstra group executive for enterprise Michael Ebeid said.
“This route is extremely important to our business as US to Australia traffic accounts for more than 80 percent of all the internet traffic to Australia.”
See: How Telstra handles subsea cables during typhoons
Southern Cross announced in August last year that it will start building the $350 million NEXT submarine cable, which it touted as being the fastest between Australia and New Zealand, and the United States.
The third cable is expected to provide an additional 60Tbps capacity to the existing 20Tbps on the two present Southern Cross cables, and will be ready for service in early 2020.
In July, Southern Cross said SubPartners had completed landing arrangements in Sydney.
“Landing arrangements in Australia, New Zealand, and the United States [are] now effectively completed,” Southern Cross CEO Anthony Briscoe said at the time.
“Our partnership with SubPartners for the construction of the facilities has allowed us to leverage their expertise in the construction of similar facilities for other projects that they are involved with in the region, helping us to effectively manage cost and risk around this critical aspect of the project.”
SubPartners is currently also working on the Indigo subsea cable system connecting Sydney, Perth, Singapore, and Jakarta, which is being built alongside Google, Singtel, Telstra, AARNet, Indosat Ooredoo, and Alcatel Submarine Networks and will span around 9,000km, with two fibre pairs and a design capacity of 18Tbps. It is expected to be completed by mid-2019.
In January, Southern Cross Cables announced that the Pacific islands of Fiji, Tokelau, and Kiribati had all signed contracts to be connected to the 60Tbps NEXT subsea cable.
Subsea cables across the globe
- Vocus’ Australia-Singapore Cable (ASC)
- Vocus’ North West Cable System (NWCS) between Darwin and Port Hedland, and the new Tiwi Islands spur being added
- The Australian government’s Coral Sea subsea cable, being constructed by Vocus to connect Australia, Papua New Guinea, and Solomon Islands and funded through the foreign aid budget
- Google’s Dunant transatlantic subsea cable between Virginia Beach in the United States to the French Atlantic coast
- The Indian government’s Chennai-Andaman and Nicobar islands subsea cable, being built by NEC
- Southern Cross Cables’ NEXT subsea cable system between Australia, New Zealand, and the United States, being built by SubPartners
- The Trident subsea cable system connecting Perth with Singapore via Indonesia
- The Jupiter subsea cable connecting the US, Japan, and the Philippines and being built by a consortium including Facebook, Amazon, SoftBank, NTT Com, PLDT, and PCCW
- The Hawaiki subsea cable between Australia, New Zealand, and the US
- Superloop’s Hong Kong cable
- Telstra’s Hong Kong Americas (HKA) cable between Hong Kong and the US
- Telstra’s Pacific Light Cable Network (PLCN) between Hong Kong and the US
- Google’s Japan-Guam-Australia (JGA) cable system
- The Asia-Pacific Gateway (APG) subsea cable connecting China, Hong Kong, Japan, South Korea, Malaysia, Taiwan, Thailand, Vietnam, and Singapore, owned by a consortium including China Telecom, China Unicom, China Mobile, NTT Communications, KT Corporation, LG Uplus, StarHub, Chunghwa Telecom, CAT, Global Transit Communications, Viettel, and VNPT, and being constructed by NEC
- The Southeast Asia Japan 2 cable (SJC2), which will have 11 landing stations in Singapore, Thailand, Cambodia, Vietnam, Hong Kong, China, South Korea, Taiwan, and Japan, being built by NEC and funded by a consortium including China Mobile International, Chunghwa Telecom, Chuan Wei, Facebook, KDDI, Singtel, SK Broadband, and VNPT
- The Bay to Bay Express Cable System (BtoBE), connecting Singapore and Hong Kong with the US, being funded by consortium including Facebook, Amazon Web Services (AWS), and China Mobile International, and being built by NEC
- The South Atlantic Cable System (SACS) connecting Angola and Brazil, going live in October 2018 after being built by NEC
2022 BMW M8 Competition range revealed with bigger screens and better lights
German automaker BMW has updated its 2022 M8 Competition sport-luxury car. You can still get an M8 Competition in three body styles (2-door Coupe, 2-door Cabriolet, and 4-door Gran Coupe), sharing the same 4.4-liter twin-turbocharged V8 engine with 617 horsepower and 553 pound-feet of torque.
Images: BMW AG
Tesla Cybertruck delayed again plus Elon Musk squashes $25k EV rumors
Tesla closed out 2021 with a bumper year, besting Q4 estimates and pushing EV deliveries past 300,000, though Elon Musk tempered hopes for the arrival of the Cybertruck and more affordable models. Revenue in the year as a whole grew 71%, Tesla announced, describing 2021 as “a breakthrough year” for the automaker, but some of the most anticipated electric vehicles are still some way out.
No Tesla Cybertruck until 2023
The most conspicuous project that Tesla has underway is undoubtedly the Cybertruck. The oddly-shaped all-electric pickup proved controversial when Elon Musk first revealed it, and glimpses of development prototypes in the intervening years haven’t dimmed its ability to polarize opinion. Undoubtedly the most frequently-asked question, however, is when Tesla actually might put the Cybertruck into production.
Tesla’s investor deck continues with the same, vague timeline as has been stated in previous releases. “We are making progress on the industrialization of Cybertruck, which is currently planned for Austin production subsequent to Model Y,” the automaker says.
Speaking on the investor call, however, Musk confirmed that the Cybertruck wouldn’t go into production this year. The primary focus for Tesla, the CEO explained, would be ramping production of its existing models, like the popular Model 3 and Model Y. They’re still in strong demand, with orders for some configurations of Model Y not expected to be delivered until August 2022.
For the Cybertruck, there are still technological hurdles to be worked through, Musk admitted. The automaker is also still trying to figure out how to make it affordable: there was widespread surprise when Tesla announced the full-size electric pickup would have a starting price of around $40,000 when it began taking reservations in late 2019. For the moment, Musk said, the hope is that production can begin sometime in 2023.
Don’t expect the Tesla Roadster any time soon, either
What goes for the Cybertruck, also goes for Tesla’s rebooted Roadster. Also the spur of no shortage of reservation deposits – or the full $250,000 apiece in advance for those wanting one of the first 1,000 “Founder’s Series” cars – the Roadster was originally intended to go into production in mid to late 2021. That was delayed to 2022, and then to 2023.
The good news is that it’s still, apparently, on track for that timescale, though as Tesla feels the impact of the supply chain issues affecting the whole auto industry that could still change in the meantime. Chip constraints were name-checked by Musk as being a primary bottleneck for 2021 production of its cars, arguing that if Tesla tried to introduce new models in 2022 it would only have the overall impact of cutting total production output. The need to assign resources to new models would take away from the ability to build cars like the Model 3 and Model Y, he pointed out.
Engineering and tooling-up for the upcoming Tesla models may still begin in 2022. However they won’t go into production until 2023 at the earliest.
The $25,000 Tesla isn’t happening
Though Tesla hasn’t been affected by the “market adjustments” that have seen dealers of other brands add thousands or even tens of thousands to the sticker price of a new car, it’s clear that the EV-maker is still focused on the trims with the biggest profit margins. Despite previous chatter of a $25,000 Tesla that could undercut even the most affordable Model 3, Musk says that’s simply not on the cards.
“We have too much on our plate,” the CEO said during the investor call.
The reality is, while Tesla has been surprisingly well placed for dealing with the supply chain crunch – including making admirable use of existing chip supplies by reprogramming its software to suit – like most car companies it can’t build as many as it would like to. Focusing on maximizing the return on each vehicle is the inevitable result, not only by prioritizing the more expensive configurations, but on post-sale software enhancements too. Indeed, “over time, we expect our hardware-related profits to be accompanied with an acceleration of software-related profits,” the investor deck points out.
This carbon 3D-printed Rolls-Royce Cullinan is a $500,000 upgrade
The Cullinan is the Rolls-Royce of SUVs, so what does this make 1016 Industries’ carbon-fiber, 3D-printed Cullinan? You can call it anything you like, but it is indeed a dignified way to go sporty. We highly prefer it over the quirky Mansory Rolls-Royce Cullinan unveiled last year for the 50th founding anniversary of the United Arab Emirates, and it’s all thanks to the crafty use of 3D printing for the details.
Images: 1016 Industries
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