The flood of reports

Scania CEO on Chinese challengers: "Not up to the mark"

Truck manufacturer Scania took orders for 28,743 vehicles during the second quarter. A 41 percent increase compared to the corresponding quarter last year. TT reports.

Unlike many manufacturers of passenger cars, Scania CEO Christian Levin is not afraid of competition from China.

- To be honest, the Chinese products have been substandard in terms of quality. They have not been up to the mark, he says.

Europe is doing well, but Latin America and the company's factory in China are also doing well, the Södertälje CEO tells the news agency.

Turnover during the quarter rose 6 percent to SEK 53.1 billion, while deliveries rose 7 percent to 26,274 vehicles.

Fighter aircraft giant's order book swells

The order book for the American Lockheed Martin, which manufactures the F-35 fighter jet and missile defense systems, is swelling. This is reported by several media outlets.

The value of the company's order book increased by 38 percent, compared to the level a year earlier, to just over $230 billion.

The second-quarter operating profit rose to $2.5 billion, up from $748 million in the corresponding quarter last year. The average forecast among analysts was for an operating profit of $2.3 billion.

The company adjusts its guidance for the full year to nearly $82 billion and the share is pushed up by around 7 percent in pre-trade.

Musk: Tesla to invest $25 billion this year

Elon Musk is going on the offensive when it comes to investments in self-driving taxis and AI robots. This emerged at the investor meeting after Tesla's quarterly report was released on Wednesday evening, writes the Financial Times.

The company has more than doubled its investments compared to the same period last year to finance its investment in AI and robotics. This contributed to the company spending more money than it generated for the first time in two years.

Musk announced that plans for Tesla to invest more than $25 billion this year remain in place. Last year, the company invested $8.5 billion.

The world's richest person described his investment effort as "probably the fastest industrial scale-up by an American company since World War II," according to the newspaper.