In a statement Toyota Motor Corp, it is expanding engine production at it West Virginia plant and is investing $210 million to this end; the investment will create 100 new jobs. Engine production capacity at its Buffalo, West Virginia plant will be boosted by 70,000 engines a year, up from the nearly 1 million transmissions…
According to a source familiar with the matter at hand, Volkswagen is weighing options which includes listing of its luxury car division Porsche AG which will provide it sufficient liquidity towards electrification of its vehicles. “Those considerations exist,” said the source said while cautioning that they are still not being actively discussed in committees; any…
In a statement Nissan said it plans on investing more than $1.4 billion (1 billion pounds) over the course of a few years in Britain as it rolls out greener technology; the statement comes at a time when it showcased its latest Qashqai car. In 2016, the Japanese carmaker had stated it would build the…
In a statement, online broker Robinhood said, it intends to allow customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin. Currently, Robinhood, a trading app popular with young investors, allows customers to buy, sell and hold cryptocurrencies including Bitcoin on its platform; however, it does not allow its users to withdraw their…
SapceX, the space exploration firm founded by the billionaire entrepreneur Elon Musk is now valued at about $74 billion after the company completed another massive round of equity funding which was reportedly valued at about $850 million last week, said reports quoting sources with knowledge of the matter. The new funds were raised at $419.99…
Its fully redesigned version of its Outlander SUV was unveiled by the Japanese auto company Mitsubishi on the United States based online retailer Amazon.com’s streaming service – Amazon Live. A picture of an oversized Amazon shipping box sitting in a driveway was featured in an emailed invitation of the Outlander debut sent to the media…
On Wednesday, in a statement shipping giant Maersk said it will accelerate plans to decarbonize sea-borne container shipping transports by operationalizing the world’s first carbon-neutral sea-going vessel in 2023; the potential launch is seven years ahead of its original plan. In 2020, the shipping industry, which transports 80% of global trade, accounting for around 3%…
According to a report from CNBC which citing sources familiar with the financing, Elon Musk’s SpaceX has completed an equity funding round of $850 million which sent its valuation soaring to nearly $74 billion. SpaceX raised the funds at $419.99 a share, said the report. SpaceX did not immediately respond to requests for comments.
In a significant development, data firm IHS Markit stated, the shortage of chips in the auto semiconductor sector is likely to impact around 1 million units of global light vehicle production during the first quarter. The announcement sees a major jump from its previous forecast. On February 3, in a report HIS Markit had stated,…
Driven by the positive sentiments among investors of continued greater acceptance amongst mainstream investors of the biggest crypto currency of the world bitcoin, the value of the digital currency surged past $50,000 mark for the first time in its history. A new high of $50,602 was reached by bitcoin and was ended with a rise…
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