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  • Chery slashes price of E5 Ultimate, making it lowest-cost electric SUV with 420 km range | Electr…

    Chery slashes price of E5 Ultimate, making it lowest-cost electric SUV with 420 km range | Electr…

    Explore the latest developments concerning Chery slashes price.

    Chery slashes price of E5 Ultimate, making it lowest-cost electric SUV with 420 km range

    Chery has slashed the price of its top-spec MY26 E5 SUV Ultimate edition by thousands of dollars, bringing it down to just $37,990 driveaway.

    The new price for the model is over $6,000 cheaper than the previous driveaway price, and makes it the lowest cost electric SUV with over 420 km of WLTP range in the Australian market.

    The move follows a surge in interest in EVs in Australia, with sales reaching record highs in March and order books pushing out to several months, and amid a new round of price-cuts as various car makers seek to put their models centre stage.

    Lucas Harris, the COO of Chery Australia, said the new pricing was designed to make EVs more accessible to more Australians. “At $37,990 driveaway, the E5 delivers exceptional value in a practical SUV package, without asking customers to compromise on features, safety or technology,” he said in a statement.

    Electric BYD rival gets a sharper price

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    Chery Australia has introduced a sharp drive-away deal for its E5 electric compact SUV, while discontinuing the previous entry level variant.

    The E5 will now start from $37,990 (drive-away), coming in a single variant called the Ultimate, which used to top the range, meaning the base Urban grade is no longer available. 

    Despite the entry level grade being cut from the range, the new price represents a substantial saving on previous $40,990 before on-road cost pricing for the range-topping variant.

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    Chery E5 MY26 Price Cut: Now From $37,990 Driveaway

    Chery Australia has cut the price of the MY26 E5 Ultimate to $37,990 driveaway. The previous price was $39,990 driveaway, a saving of $2,000. It is now one of the most affordable small electric SUVs on sale in Australia.

    The E5 Ultimate is the only variant available for the MY26 model year. It can be ordered now through Chery's national dealer network.

    The Chery E5 was the 26th best selling BEV model in 2025 with 868 sales. The segment leader, the BYD Atto 3, sold 3861.

    The E5 comes with a 430km WLTP range. Standard features include Apple CarPlay, Android Auto, advanced safety systems, and a full-size spare wheel. The interior is described as well-appointed with a spacious cabin suited to both city and weekend use.

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  • Block shares soar 24% as company slashes workforce by nearly half | Inside the Rolling Layoffs at…

    Block shares soar 24% as company slashes workforce by nearly half | Inside the Rolling Layoffs at…

    Explore the latest developments concerning Block shares soar.

    Block shares soar 24% as company slashes workforce by nearly half

    Block said Thursday it's laying off more than 4,000 employees, or about half of its headcount. The stock skyrocketed more than 24% in extended trading.

    "Today we shared a difficult decision with our team," Jack Dorsey, Block's co-founder and CEO, wrote in a letter to shareholders. "We're reducing Block by nearly half, from over 10,000 people to just under 6,000, which means that over 4,000 people are being asked to leave or entering into consultation."

    Block CFO Amrita Ahuja said the job cuts will position the company "for our next phase of long term growth."

    "We are choosing to shift how we operate at a time when our business is accelerating and we see an opportunity to move faster with smaller, highly talented teams using AI to automate more work," Ahuja wrote.

    Inside the Rolling Layoffs at Jack Dorsey’s Block

    After hundreds of workers were laid off in early February from Jack Dorsey’s Block, some of the people remaining at the company say the internal culture has devolved to a point where performance anxiety is running rampant, using generative AI is required, and overall morale is rapidly deteriorating. Block is the parent company behind the merchant payment processor Square and the payment app Cash App. Dorsey cofounded the company in 2009 after previously cofounding Twitter.

    “Morale is probably the worst I’ve felt in four years,” reads an employee complaint submitted to Dorsey in a recent all-hands meeting, a transcript of which was seen by WIRED. “The overarching culture at Block is crumbling.” WIRED spoke with seven current and former Block employees, who requested anonymity to speak freely about internal operations at the company. A Block spokesperson did not respond to requests for comment.

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    Earnings live: Block stock surges over 20% after Jack Dorsey cuts nearly half of staff, Dell stock jumps

    Earnings from Nvidia (NVDA) marked the final company among the "Magnificent Seven" tech stocks to report quarterly results.

    This report offered a crucial update on how demand for its high-tech AI chips — a big part of the hundreds of billions of dollars its Big Tech peers are spending on AI investments — continues to shape up. But concerns about increased competition and the drivers underpinning Nvidia's strong forecast overshadowed the company's beat and raise, sending shares 5% lower on Thursday.

    Other key results this week include reports from Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY), with the latter currently locked in a duel with Netflix to acquire the former.

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