The first overseas factory of US electric car maker Tesla in Shanghai in China would be focused on manufacturing of Model 3 vehicles exclusively for the Chinese consumers, said the CEO of the company Elon Musk. Musk said this while on a trip to Shanghai to initiate construction of the factory which is being constructed…
Even as the Chinese government is pushing for increasing capabilities of its domestic companies to make manufacture chip and bring down its heavy dependence on import of chips – particularly form the United States, a new chipset for use in servers was launched by Chinese etch giant Huawei Technologies Co Ltd on Monday. In recent…
Along with the launch of its Kunpeng 920 chipset, Huawei has launched servers which will house the Kunpeng 920 chip. Incidentally, Huawei has a long term partnership with Intel. On Monday, in a significant development, China’s Huawei Technologies Co Ltd launched new server chips that is aimed at reducing its imports and reliance on U.S.…
The news is likely to add to investor worries as it comes in the wake of Apple reducing its sales forecast for its smartphones. Slowing demand in China has had a significant impact on Samsung Electronics Co Ltd, with the South Korean conglomerate set to post its first drop in quarterly operating profits in two…
Tesla’s Shanghai Gigafactory is of strategic importance to the electric carmaker given that Chinese authorities are aiming to have only EVs plying around in the country by 2030. On Monday, Tesla Inc’s CEO, Elon Musk stated, the electric carmaker will break ground for its Shanghai Gigafactory where it will commence the production of its mass…
A block buster and record making merger has been announced by two of the biggest drug companies of the United States. Drug maker Celgene would be taken over by Bristol-Myers Squibb in a cash and stock deal including debt and the value of the deal as announced is worth about between $74bn and $90bn. The…
According to documents filed at the Dutch chamber of commerce, an arrangement that allows Google to reduce its foreign tax liability was used by the US tech company to move €19.9bn ($22.7bn) to Bermuda in 2017 through a Dutch shell company. The documents, filed on 21 December, showed that the amount of money that was…
According to information available from US authorities, three former employees of Swiss investment bank Credit Suisse have been arrested over charges of their role in in a $2bn fraud scheme wihch was linked to companies in Mozambique. While the men were arrested and them released on bail in London, US authorities have sought extradition of…
According to the US Artherton Research, US electric automaker Tesla Inc has for the first time sold more vehicles than BMW and Lexus in a quarter. Tesla has been able to end the year well despite legal and financial struggles and was well ahead of its rivals in the U.S. premium automotive market including names…
Tesla’s Gigafactory in Shanghai will play a significant role as it battles a swatch of Chinese domestic rivals in the new age vehicle market. On Friday, U.S. electric carmaker Tesla Inc stated, it plans to start the delivery of its Model 3 sedan to customers in China in March 2019, thus cementing a time frame…
