The EV revolution is happening with governments and automakers going full speed ahead to combat carbon emissions with all-electric vehicles. Many players joining forces in the attempt to win the race with the power of synergy. Even the almighty Toyota Motor (NYSE: TM) knew better than going at it alone as it partnered with Panasonic Corporation (OTC: PCRFY) to form Prime Planet Energy & Solutions to develop batteries that can be used over and over again anytime, anywhere. In June, Renault SA (OTC: RNLSY) revealed it formed two major partnerships to specialize in the design and production of EV batteries. In March, Volkswagen (OTC: VWAGY) announced it aims to build several “gigafactories” in Europe by 2030. This week, we got a few more expansion updates.

Bayerische Motoren Werke Aktiengesellschaft (OTC: BMWYY) is also working on new concepts and ideas related to batteries.  Its project BMW-UK-BEV that is centered around the development of a long-distance EV battery has been awarded $36.07 million in joint funding from the industry and the U.K. government. The U.K. is determined to stop selling new diesel and gasoline cars and vans by 2030, the Oxford-based project is one of four to receive funding as new technologies that address range anxiety are crucial to wider EV adoption.

All these three U.S.-listed Chinese EVs are expanding production to meet rising demand. Nio recently announced it will more than double its current production of 100,000 vehicles to 240,000 units a year. Li Auto raised more money in August selling stock in Hong Kong, part of which will commit to doubling capacity to 200,000 units a year.

Worksport moved into its new headquarters and 55,000 sqaure feet manufacturing facility. As its tonneau cover business continues to grow, Worksport Ltd (NASDAQ: WKSP) is getting ready for pre-production of its TerraVis solar-powered tonneau cover and its extension, the standalone COR battery system. The company also revealed it is expanding its EV ecosystem with a new product termed NPEV that aims to contribute to making transportation greener. Today Worksport announced its anticipated Pre-Order platform will go live on 21ste of September.

With a physical foundation and the right partners, as it joined forces with two EV players on two upcoming electric pickups, Worksport seems ready for the next chapter of its growth story that is bound to bring new technologies to the EV table.

Last week, Apple (NASDAQ: AAPL) lost a court case to Fortnite creator Epic Games and was ordered to allow developers to send their app’s users to outside payment systems. Opening Apple’s ecosystem up to third-party payment options translates to freeing users from paying Apple 15% to 30% commission fees. This turn of events threaten the revenue Apple gains by charging fees to app developers and therefore, it could be a game changer for companies like Spotify (NYSE: SPOT).

The bigger picture

While there’s a chance the ruling will be overturned upon appeal, Apple didn’t lose it all as it is still allowed to collect fees on transactions, when the payment is made via its system. But the bigger picture here is the reinforced a trend that clearly suggests Apple’s grip is loosening. Earlier this month, Apple revealed it will allow “reader apps” to use a single link to sign up customers on their own websites, allowing them to be independent from its payment system. The impact of these changes could be profound as the court has basically ruled Apple has gone too far in its efforts to control how app developers can make money. Developers were not even allowed to let their customers know there is a way to pay for their services outside the App Store, let alone provide a link or offer a third-party payment platform.

A potential game changer for Spotify

This policy has caused many headaches to growing tech companies such as Spotify that have a free user-friendly ad-supported business model that aims to woo customers to get the premium service. In an effort to get around Apple’srestrictions, the company is literally apologizing to its users for the fact that upgrading to a premium account is far from “ideal”.

The fact that it won’t be subject to that 30% fee could easily be a game-changer for Spotify, allowing its business model to blossom. For one thing, it’ll undoubtedly make its job to convert more of its free service customers into paid subscriber much easier. However, the benefits go beyond the fee as when Spotify was forced to use Apple’s payment system, it gave up the ability to gather information about its customers, something that Apple is very protective of. Spotify can finally get that precious information, either by getting users to sign up outside of Apple’s ecosystem or by simply asking the questions. In simple words, Spotify will no longer have to jump through hoops to be able to increase the efficiency of ads its serves, which could easily be the source of its future revenue and profit growth.

2021 mission

In 2021, the company was set to unlock the potential of human creativity. It embarked on this journey with a list of commitments, such as equipping artists with training to maximize their streams and earnings on the platform, to help them get out there and even pay them to do so.

What Spotify has done right is adapt its approach by moving beyond the simplistic technological approach by engaging with users and artists and putting an emotional need at the heart of its mission.

From “just an app” to an “artist-loving” brand

In other words, Spotify has become more than app the moment it made an emotional promise and put it into action with engagement like the Year Unwrapped round up where it put users at the heart of their own story by celebrating their listening habits.

Not only do initiatives like this help win brand loyalty by humanizing Spotify beyond a functional faceless tech platform, they also differentiate the brand from other competitors as replicating emotion is much harder than copying an app.

With long-term brand thinking, Spotify’s future seems bright. One month ago, the music streaming service announced that its board approved a $1 billion stock buyback. CFOr Paul Vogel described this decision as a clear demonstration of the company’s confidence in both its business model as well as long-term growth opportunities.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

The enterprise software maker reported its fiscal first quarter revenue on Monday, with its top segment, as well as hardware, missing expectations. Revenue came below expectations as Oracle Corporation (NYSE: ORCL) announced a program during the quarter to encourage customers to adopt its public cloud services in the quarter by reducing or even eliminating its licensing support costs.

Encouraging migrations to the cloud

The support rewards program offers customers who make new commitments to buy Oracle Cloud Infrastructure services to earn rewards that can reduce or even eliminate their Oracle on-premises technology licensing support bills.

Fiscal Q1 figures

For the quarter that ended on August 31st, revenue increased 4% YoY as it amounted to $9.73 billion. Refinitiv reported analysts expected $9.77 billion, whereas the prior quarter’s growth rate was double at 8% respectively.

The two new cloud businesses

The cloud license and on-premises license segment brought in $813 million to the revenue table, down 8% and lower than the $859.7 million consensus. Cloud is fundamentally a more profitable business compared to on-premise. Management expects operating margins to be the same or better than pre-pandemic levels. The company does not disclose revenue nor operating income from its two services that now make 25% of its total revenue with an annual run rate of $10 billion.

The largest business segment, cloud services and license support, generated $7.37 billion in revenue, which is up 6%, although below the StreetAccount consensus estimate of $7.41 billion.

The hardware unit generated $763 million in revenue, down 6% and below the $778.5 million estimate.

Increased capital expenditures

Oracle’s capital expenditures exceeded $1 billion, more than doubling compared to the $436 million in the year-ago quarter as executives invested to build the necessary infrastructure to meet expected cloud demand.

To expand and strengthen its footing in the cloud computing space, Oracle, which counts Zoom Video Communications (NASDAQ:ZM) as one of its customers, has been heavily investing in opening more data centers to rent to clients as they shift their operations to the cloud.

 Fiscal Q2 guidance

For the undergoing quarter, CEO Safra Catz expects earnings per share to come in the range between $1.09 to $1.13 on 3% to 5% revenue growth. Analysts polled by Refinitiv are expecting a 5% revenue growth to result in adjusted earnings of $1.08 per share.

A crowded space

Austin, Texas-based company whose shares have risen about 40% year to date is in a crowded space of rivals no other than tech titans Microsoft Corp (NASDAQ:MSFT), Inc (NASDAQ:AMZN), (NYSE:CRM) and IBM (NYSE:IBM) Corp that makie it much more challenging to benefit from cloud computing trends.

In a nutshell, Oracle fell short of Wall Street expectations because of incentives it offered to its customers in an attempt to position itself among the clouds.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

This content was originally published here.