Tesla’s Autonomous Vehicle Testing in Arizona
Tesla, the American electric vehicle manufacturer, has received authorization to conduct tests for its robotaxi service in Arizona, according to Bloomberg News.
The company initiated the certification process with the Arizona Department of Transportation in late June, aiming to operate its robotaxi service in the Phoenix metropolitan area. With this development, Arizona becomes the third state where Tesla conducts autonomous vehicle tests, following Texas and Nevada, which granted permission earlier this month.
Tesla’s stock gained 1.91% in the U.S. Nasdaq trading session on Monday, trading around $434.21 per share.
Grupo HIR Acquires Creditaria México
Grupo HIR, a real estate development company, acquired Creditaria México, a financial advisory and product commercialization platform primarily focused on the housing sector. The deal’s value was not disclosed.
Creditaria México, with a presence in all Mexican markets through a network of 1,000 franchises and 2,000 advisors, will strengthen its governance and deepen relationships with banks. Grupo HIR stated that the acquisition aligns with its purpose of building solid, independent, and committed-to-Mexico businesses.
Berkshire Hathaway Sells BYD Stake
BYD (Build Your Dreams), a Chinese multinational company specializing in electric and hybrid vehicle manufacturing, saw its shares drop 3.4% on the Hong Kong Stock Exchange after Berkshire Hathaway, led by legendary billionaire Warren Buffett, sold all its shares in the company.
The stock closed at 109.7 Hong Kong dollars on Monday, down from the previous close of 113.5 Hong Kong dollars.
An anonymous source confirmed to CNBC on Sunday that Berkshire Hathaway, Buffett’s investment vehicle, had sold its position in the automotive company, marking the end of an approximately 17-year investment that began in 2008.
However, this operation had already been documented in a Berkshire Hathaway Energy report published on March 31 of this year, stating to the U.S. Securities and Exchange Commission (SEC) that the value of BYD investments was zero, compared to $415 million reported at the end of 2024.
Vesta to Issue Bonds in the U.S.
Corporación Inmobiliaria Vesta, one of Mexico’s largest industrial real estate companies, announced plans to issue non-guaranteed senior bonds in a private placement for institutional investors in the U.S. and non-U.S. individuals outside the country.
The funds from this issuance will be used for debt refinancing, capital expenditures, and general corporate purposes, according to Vesta’s statement, which did not provide further details about the notes.
Vesta has traded American Depositary Receipts (ADR) on the U.S. stock market since mid-2023, becoming the first industrial real estate company to issue securities on the New York Stock Exchange and also on the Mexican Securities Exchange since 2012.
Vesta’s shares rose 1.73% on the Mexican Securities Exchange on Monday, closing at 50.54 pesos each.
Key Questions and Answers
- What is the main news? Tesla received authorization to test autonomous vehicles in Arizona, Grupo HIR acquired Creditaria México, and Vesta plans to issue bonds in the U.S.
- Why is Tesla’s authorization important? It allows Tesla to expand its autonomous vehicle testing in Arizona, alongside Texas and Nevada.
- Who is Grupo HIR, and why is the acquisition of Creditaria México significant? Grupo HIR is a real estate development company that aims to build solid, independent businesses in Mexico. The acquisition strengthens Creditaria México’s governance and relationships with banks.
- Why did Berkshire Hathaway sell its BYD stake, and what does it mean for the company? Berkshire Hathaway sold its BYD shares, ending a 17-year investment. The value of BYD investments reported to the SEC dropped from $415 million in 2024 to zero.
- What is Vesta’s plan regarding bond issuance, and why is it noteworthy? Vesta intends to issue non-guaranteed senior bonds for debt refinancing, capital expenditures, and general corporate purposes. This is significant as Vesta is the first industrial real estate company to issue securities on both the New York Stock Exchange and the Mexican Securities Exchange.
