Business

How Tesla defined a new era for the global auto industry

Published

6 years ago

July 23, 2020

FRANKFURT/BEIJING/DETROIT (Reuters) – Tesla Inc’s (TSLA.O) rapid rise to become the world’s most valuable carmaker could mark the start of a new era for the global auto industry, defined by a Silicon Valley approach to software that is overtaking old-school manufacturing know-how.

Tesla’s ascent took many investors by surprise. But executives at Daimler AG (DAIGn.DE), the parent company of Mercedes-Benz, had a close-up view starting in 2009 of how Tesla and its chief executive Elon Musk were taking a new approach to building vehicles that challenged the established system.

Daimler, which bears the name of the man who invented the modern car 134 years ago, bought a nearly 10% Tesla stake in May 2009 in a deal which provided a $50 million lifeline for the struggling start-up.

That investment gave Mercedes engineers an inside view of how Musk was willing to launch technology that wasn’t perfect, and then repeatedly upgrade it, using smartphone style over-the-air updates, paying little regard to early profitability.

Mercedes engineers helped Tesla develop its Model S luxury sedan in exchange for access to Tesla’s partially hand-assembled battery packs, but in 2014 Daimler decided to sell their stake amid doubts Tesla’s approach could be industrialised at scale.

Tesla would go on to pioneer new approaches in manufacturing, designs in software and electronic architecture which enable it to introduce innovations faster than rivals, leaving analysts to draw comparisons with Apple (AAPL.O).

Three people directly involved with the Mercedes side of the collaboration said the brief partnership highlighted the collision of old and new engineering cultures: the German obsession with long-term safety and control, which rewarded evolution, and the Silicon Valley carmaker’s experimental approach which embraced radical thinking and fast innovation.

“Elon Musk has been walking on the edge of a razorblade in terms of the aggression with which he pushes some technologies,” said a former Mercedes engineer who worked on the partnership.

By contrast, Mercedes and other established automakers are still not comfortable about releasing a new technology, such as partially automated driving, without years of testing.

Tesla did not respond to requests for comment.

Investors favour the Tesla model, in an industry undergoing fundamental and dizzying change even though the U.S. carmaker will face an onslaught of competing electric vehicles from established automakers during the next few years.

They are putting their money on Musk and his company, even though Mercedes-Benz alone sold 935,089 cars in the first half of 2020, dwarfing the 179,050 delivered by Tesla in the same period.

Today, Tesla is worth nearly $304.6 billion, more than six times Daimler’s 41.5-billion-euro ($47.7 billion) market capitalisation.

Two cultures collide

Daimler and Tesla began collaborating after Mercedes engineers, who were developing a second-generation electric Smart car, bought a Tesla Roadster. They were impressed by the way Tesla packaged batteries, so arranged a visit to Silicon Valley to meet Musk in January 2009 and ordered 1,000 battery packs.

The collaboration expanded. At a joint press conference in the Mercedes-Benz museum in Stuttgart in May 2009, Tesla said the partnership would “accelerate bringing our Tesla Model S to production and ensure that it is a superlative vehicle”.

For its part, Mercedes wanted to use Tesla’s batteries to power an electric version of its compact Mercedes-Benz B-Class. The Tesla Model S would hit the road in 2012. An electric B-Class, arrived in showrooms two years later.

Despite having batteries supplied by Tesla, the Mercedes had a shorter operating range after Daimler engineers configured the B-class more conservatively to address their concerns about long-term battery degradation and the risk of overheating, a second Daimler staffer who worked on the joint projects told Reuters.

German engineers found that Tesla engineers had not done long-term stress tests on its battery. “We had to devise our own programme of stress tests,” the second Daimler engineer said.

Before starting production of a new car, Daimler engineers specify a “Lastenheft” – a blueprint laying out the properties of each component for suppliers. Significant changes cannot be made once the design is frozen.

“This is also the way you can guarantee that we will be profitable during mass production. Tesla was not as concerned about this aspect,” the second Daimler source said.

Daimler’s engineers suggested the underbody of the Model S needed reinforcing to prevent debris from the road puncturing a battery pack, the first Daimler engineer said.

To quash doubts about safety and security, following a series of battery fires, Tesla raised the ride height of its vehicles, using an over-the-air update, and a few months later, in March 2014, said it would add a triple underbody shield to new Model S cars and offered to retrofit existing cars.

Musk was able to make adjustments quickly thanks to Tesla’s ability to burn through more cash during development.

“At Mercedes you can make such adjustments every three years at best,” the engineer said.

The Model S, a four-door electric sedan would go on to outsell the flagship Mercedes-Benz S-Class in the United States in May 2013, and outstrip S-Class deliveries globally by 2017.

Musk: Innovate or go

Musk’s relentless focus on innovation explains, in part, why he has disrupted the traditional auto world. In an interview here at the 2020 Air Warfare Symposium, published on YouTube, he was asked about the importance of innovation among his employees.

“We certainly need those that do advanced engineering to be innovative,” Musk said. “The incentive structure is set up … such that innovation is rewarded. Making mistakes along the way does not come with a big penalty. But failure to try to innovate at all … comes with a big penalty. You will be fired.”

Established automakers are playing catch-up to Tesla, designing their own software operating systems and dedicated electric cars.

Mercedes will release its EQS next year – a four-door limousine built on a dedicated electric vehicle platform, with an operating range of 700 km. A new version of the Mercedes S-Class, which will have combustion and hybrid powertrains and semi-autonomous driver assistance systems, is due this year.

From an investor perspective, traditional players face billions of dollars in restructuring costs as they transform product lines and factories to move away from internal combustion technology

“No one is going to give an OEM (established automaker) a five-year window to say … you can totally retool your business, and I am going to buy in and fund this journey,” said Mark Wakefield, co-leader of automotive and industrials practice at consulting firm AlixPartners.

Start-ups, however, get time from investors to learn, make mistakes and grow, he added.

Investors are betting on Tesla’s ability to scale up manufacturing just as they once backed Toyota Motor Corp (7203.T), which defined the auto industry’s last era with its mastery of highly efficient, high-quality lean production.

Toyota overtook the market capitalisation of former industry leader General Motors (GM.N) in 1996, though it wasn’t until 2008 that it sold more vehicles than its Detroit rival.

The Japanese giant also cultivated ties with Tesla, with the U.S. startup helping it design an electrified RAV4 compact sports utility vehicle under a 2010 deal.

Toyota was impressed by the speed with which Tesla came up with the new design, but ultimately decided Tesla’s methods were not suitable for mass production by a mainstream manufacturer when Toyota’s standards for product quality and durability were applied, two company insiders familiar with the partnership said.

Toyota said the joint project involved cooperation on the development of electric cars, parts and production system.

“Toyota accomplished what the project set out to achieve, and it ended in October 2014 after Tesla delivered roughly 2,500 electric powertrain systems over three years” for an electrified RAV4 crossover SUVs, a spokeswoman said.

Both the Toyota and Daimler collaborations were agreed before the Volkswagen (VOWG_p.DE) emissions-cheating scandal in 2015, which prompted a global regulatory backlash and forced carmakers to step up investments in electric cars.

“That was all before dieselgate, which changed the economics of electric and combustion-engined cars,” a senior Daimler manager said. “Tesla has a lead. Let’s see if they can scale up.”

Reporting and photo: Reuters

Business

Coca-Cola Maldives launches World Cup-themed promotion

Published

2 weeks ago

April 2, 2026

m@ldives

Coca-Cola Maldives is turning up the excitement with the launch of its 2026 football campaign, bringing fans across the country a season packed with prizes, shared moments and exciting ways to celebrate the game together.

As the build-up to the FIFA World Cup 2026 begins, Coca-Cola Maldives is inviting consumers to join in the fun with a campaign built around everything that makes football special: the anticipation, the matchday thrill, the watch parties, the celebrations and the memories made along the way.

From March to May, consumers in the Maldives will have the chance to take part in the Coca-Cola Maldives FIFA World Cup 2026 promotion, with weekly prizes, branded merchandise and a grand prize experience linked to one of the biggest sporting events in the world.

As part of the campaign, Coca-Cola Maldives is rolling out the UTC Promo from March 21 to May 24, giving consumers even more ways to be part of the football excitement. Special promotional packs will feature a unique code either under the cap or under the tab, depending on the product format. For 500ml, 1.25L and 2L PET bottles, codes will appear under the special Golden Caps on Coca-Cola, Sprite, Fanta Orange and Fanta Strawberry. For 330ml cans, codes will appear under the tab on Coca-Cola. Consumers can enter by sending the code via SMS to 2626 for the chance to win a range of prizes throughout the campaign period.

The promotion will run across 330ml cans as well as 500ml, 1.25L and 2L PET bottles, making it easy for consumers to join in whether they are picking up a drink for themselves, sharing with friends, or stocking up for a matchday gathering. With multiple participating brands and pack formats included in the promotion, Coca-Cola Maldives is creating more opportunities for consumers across the country to take part in the campaign and enjoy the football season together.

At the top tier, eight winners will receive an all-expenses-paid experience for two to watch a FIFA World Cup match live, creating a once-in-a-lifetime football moment. Under Tier 2, 60 winners will receive Coca-Cola branded mini-coolers, while 120 winners will take home Coca-Cola branded football-shaped personal coolers. Under Tier 3, 180 winners will receive Coke and FIFA branded footballs, adding even more play and energy to the season.

Adding a live moment to the excitement, the first set of winners will be announced on ICE TV on April 6 at 9pm, with winner announcements continuing every week throughout the promotion. This weekly reveal is set to bring an added sense of anticipation and shared excitement as the campaign unfolds across the Maldives.

The campaign is designed to bring fans closer to the game and make every football moment even more enjoyable. Whether it is watching a match with family at home, catching the action with friends at a café, or picking up a favourite Coca-Cola pack from a neighbourhood store, Coca-Cola Maldives aims to be part of the moments that make football season unforgettable.

“Football has a way of bringing people together like nothing else, and that is what inspired this campaign,” said Mario Perera, Country Head for Sri Lanka and the Maldives. “In the Maldives, the game is enjoyed in such a lively and social way, and Coca-Cola Maldives wanted to create a campaign that feels fun, relevant and easy for people to be part of. It is about celebrating the season, enjoying the experience with others, and giving fans something extra to look forward to.”

Adding to the excitement, Coca-Cola Maldives will also launch collectible country packs in the Maldives from May to July, giving fans the chance to celebrate the global game in a new way. Inspired by some of football’s most recognised nations, these limited-edition packs will bring a colourful and collectible twist to the season.

Across the Maldives, Coca-Cola Maldives will work with retail partners to bring the campaign to life through in-store visibility, promotional touchpoints and selected local activations that capture the spirit of football and community.

“The Maldives is a unique market, and Coca-Cola Maldives wanted this campaign to connect with the way people here enjoy football, together, with energy, and with a real sense of occasion. Coca-Cola Maldives is excited to bring that spirit to life in the months ahead,” added Mario Perera.

This marks the start of Coca-Cola Maldives’ 2026 journey in the market. With more fan moments, more excitement and more ways to join in still to come, Coca-Cola Maldives is looking forward to celebrating the football season with consumers across the country.

Business

BBM renews as Title Partner of Hotelier Maldives Awards under multi-year agreement

Published

4 weeks ago

March 18, 2026

m@ldives

Hotelier Maldives has announced Bestbuy Maldives (BBM) as the Title Partner of Hotelier Maldives Awards 2026 under a multi-year agreement, reaffirming one of the longest-standing partnerships behind the publication’s flagship hospitality recognition platform.

The 2026 edition marks the third consecutive year that BBM has served as Title Partner of Hotelier Maldives Awards, having supported the event in the same capacity since its launch in 2024. BBM has also backed Hotelier Maldives’ second flagship event, GM Forum, every year since 2023, with 2026 set to mark its fourth year as a Silver Partner of the forum.

The continued partnership reflects a shared commitment to recognising the people behind the Maldives’ tourism industry while supporting platforms that encourage industry dialogue, leadership and professional development.

Hotelier Maldives Awards 2026 entered its public voting phase on 15 March 2026, with voting set to remain open for one month. Winners will be announced at the gala ceremony on 26 April 2026 at NIVA Kurumba Maldives.

Commenting on the partnership, Ali Naafiz, Editor of Hotelier Maldives, said: “BBM has been a valued partner of Hotelier Maldives Awards since the very beginning, and we are pleased to formalise this continued support through a multi-year agreement. Their decision to return as Title Partner for a third consecutive year reflects not only the strength of our relationship, but also a shared belief in the importance of recognising the people who drive excellence across the Maldives’ hospitality industry.

“BBM has also consistently supported GM Forum over the years, making them one of the most committed partners across our event platforms. We are proud to continue working together as we strengthen both Hotelier Maldives Awards and GM Forum as annual fixtures for the industry.”

AVS Subrahmanyam, Chief Operating Officer of BBM, said: “At BBM, we have always believed that a strong hospitality industry is built by strong people, and Hotelier Maldives Awards provides an important national platform to recognise the professionals whose work often takes place behind the scenes. We are pleased to continue as Title Partner of the awards under this multi-year agreement, while also extending our support to GM Forum for a fourth consecutive year.

“As a company that has grown alongside the Maldives’ hospitality sector, we value opportunities that celebrate talent, encourage professional pride and contribute to the long-term development of the industry. Our continued partnership with Hotelier Maldives reflects that commitment.”

Bestbuy Maldives is one of the country’s leading importers and distributors, serving the hospitality, HORECA and retail sectors with a broad portfolio of international brands. The company positions itself as a partner to the Maldivian hospitality industry, supplying products from around the world across key business verticals including resorts, foodservice and retail.

Hotelier Maldives Awards continues to recognise the contributions of resort-based hospitality professionals across the Maldives, highlighting both individual excellence and team performance. The awards programme remains the country’s only dedicated recognition platform focused on professionals working in resort operations. The current public voting round allows industry stakeholders, colleagues, guests and the wider public to take part in selecting this year’s winners.

The growing list of confirmed partners for Hotelier Maldives Awards 2026 includes Bestbuy Maldives (BBM) as Title Partner, Dhiraagu as Platinum Partner, Storm Events as Organising Partner, NIVA, Kurumba Maldives as Host Partner, Souvenir Marine as Transport Partner, ALIA as Associate Sponsor, and Lightsout Studios as Associate Partner. More partners and sponsors will be announced soon.

Business

Feydhoo Hall opens at dusitD2 Feydhoo Maldives as new event space

Published

2 months ago

February 16, 2026

m@ldives

Dusit International, one of Thailand’s leading hotel and property development companies, has announced the opening of Feydhoo Hall, a landmark event venue at dusitD2 Feydhoo Maldives, redefining the possibilities for meetings, celebrations, and destination events in the Maldives.

Designed to bring scale, flexibility, and creativity to island gatherings, Feydhoo Hall represents a bold step forward in positioning the Maldives as a dynamic destination for conferences, weddings, and large-scale social occasions.

Feydhoo Hall offers a versatile event complex designed to accommodate a wide range of gatherings, from corporate meetings and conferences to weddings and social celebrations.

At its core is the 390 sqm Main Hall, capable of hosting:

Up to 300 guests in theatre-style setup
Up to 240 guests for dining and banquet-style events
Up to 200 guests for cocktail-style receptions
Up to 144 guests in cluster-round configuration

Enhancing the flexibility of the venue are additional dedicated spaces, including:

A 110 sqm Veranda Terrace, ideal for welcome receptions, breakout sessions, and pre-event gatherings, accommodating up to 100 guests for cocktail-style events.
A spacious 1,000 sqm Lawn Space, perfect for large-scale outdoor celebrations, destination weddings, and open-air events, accommodating up to 400 guests for cocktail receptions and up to 350 guests for dining setups.
The 55 sqm Ekugai Meeting Room, designed for smaller meetings and executive sessions, accommodating up to 30 guests in theatre or dining setup and 24 guests in cluster-round format.

Together, these integrated spaces create a seamless indoor-outdoor event experience, allowing planners to design dynamic and personalised event journeys.

True to the dusitD2 brand’s lifestyle-driven philosophy, Feydhoo Hall introduces a fresh approach to meetings and events — where productivity meets creativity in an inspiring island setting.

The venue offers flexible meeting formats designed to suit different event needs, including:

Half-Day Meeting Package (4 hours) — ideal for focused sessions, executive meetings, and creative workshops.
Full-Day Meeting Package (8 hours) — designed for immersive conferences, extended workshops, and large-scale corporate gatherings.

These thoughtfully structured packages provide planners with the flexibility to create impactful and seamless experiences, whether hosting intimate strategy sessions or dynamic full-day events.

Located just seven minutes by speedboat from Velana International Airport, dusitD2 Feydhoo Maldives combines accessibility with vibrant lifestyle energy, offering event planners and guests a rare balance between convenience and tropical escape.

With the introduction of Feydhoo Hall, the resort strengthens its position as a versatile destination — not only for leisure travellers but also for international conferences, creative retreats, luxury weddings, and large-scale social celebrations seeking something refreshingly different in the Maldives.