عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

Google to Open Second Data Center in Latin America, to Invest Over $850 Mln 

The president of Google Cloud for Latin America, Eduardo Lopez, participates in the inauguration of the Google Data Center works, on the premises of the Science Park, in Canelones, Uruguay 29 August 2024. (EPA)
The president of Google Cloud for Latin America, Eduardo Lopez, participates in the inauguration of the Google Data Center works, on the premises of the Science Park, in Canelones, Uruguay 29 August 2024. (EPA)
TT
TT

Google to Open Second Data Center in Latin America, to Invest Over $850 Mln 

The president of Google Cloud for Latin America, Eduardo Lopez, participates in the inauguration of the Google Data Center works, on the premises of the Science Park, in Canelones, Uruguay 29 August 2024. (EPA)
The president of Google Cloud for Latin America, Eduardo Lopez, participates in the inauguration of the Google Data Center works, on the premises of the Science Park, in Canelones, Uruguay 29 August 2024. (EPA)

Alphabet's Google said on Thursday it will open its second data center in Latin America in the Uruguayan city of Canelones and invest more than $850 million in it.

Google opened its first data center in Latin America in Quilicura, which is near Santiago, the capital city of Chile, in 2015. It invested an initial amount of $150 million in the data center and spent an additional $140 million in 2018 for expansion.

"We hope our new data center in Canelones will be a significant contribution to the professional and technological development of Uruguay and the entire region," Google said in a blog post.

Reuters reported on Thursday that Google is considering building a "hyperscale" data center close to Ho Chi Minh City in Vietnam and that the center would be ready in 2027.

In April, Google announced a $3 billion investment to set up a data center campus in Indiana and expand sites in Virginia. Google also said in May that it will invest $2 billion in Malaysia to develop its first data center and Google Cloud region in the country.

Most Viewed

 
 
Technology

EV Firm Lotus Tech Slashes Annual Deliveries Forecast as EU, US Tariffs Weigh

British sports car maker Lotus unveils its new fully-electric "Emeya" Hyper-GT in New York City, US, September 7, 2023. REUTERS/Caitlin Ochs Purchase Licensing Rights
British sports car maker Lotus unveils its new fully-electric "Emeya" Hyper-GT in New York City, US, September 7, 2023. REUTERS/Caitlin Ochs Purchase Licensing Rights
TT
TT

EV Firm Lotus Tech Slashes Annual Deliveries Forecast as EU, US Tariffs Weigh

British sports car maker Lotus unveils its new fully-electric "Emeya" Hyper-GT in New York City, US, September 7, 2023. REUTERS/Caitlin Ochs Purchase Licensing Rights
British sports car maker Lotus unveils its new fully-electric "Emeya" Hyper-GT in New York City, US, September 7, 2023. REUTERS/Caitlin Ochs Purchase Licensing Rights

EV firm Lotus Technology slashed its deliveries forecast for the year by more than 50% on Wednesday, citing uncertainty posed by new tariffs in the United States and the European Union.

Import tariffs imposed by the European Union, the United States and Canada on China-made EVs have added pressure on companies manufacturing their vehicles in China, adding to costs.

"After assessment of the evolving market conditions, and uncertainties posed by new tariff policies in US and EU, the company has revised its delivery target for 2024 to 12,000 units," the company said, according to Reuters.

The company is headquartered in the Chinese city of Wuhan and produces cars through a partnership with parent firm Geely .

Lotus Tech, which focuses on all-electric lifestyle vehicles, is part of British sports car maker Lotus Group, which is owned by Chinese automaker Geely and Malaysia's Etika Automotive.

The company was valued at about $7 billion in a deal with a special purpose acquisition company when it went public in February, but its value has since fallen to about $3.8 billion.

After China and Europe, the company began taking orders for the Eletre SUV in markets across the Middle East, Asia and the Americas.

Deliveries for the three months ended June 30 stood at 2,679 units, compared with 2,194 vehicles in the first quarter.

Revenue for the second quarter was $225 million, compared with $111 million a year earlier.

Lotus Tech said its net loss widened to $202 million in the April-June period from $193 million a year earlier.

Its plans to expand and entry into new regions have led to higher selling and marketing expenses, which rose 73% to $204.3 million in the quarter.