According to documents filed with the state government, Tesla Inc plans on building a battery research and manufacturing facility in Fremont, California, which will be operated around the clock, under a project dubbed Roadrunner. The plan underscores efforts being made by the U.S. electric vehicle (EV) maker to create their own automotive batteries, which incidentally…
Nvidia Corp has entered into a deal with Daimler to develop and equip Mercedes-Benz cars with next generation graphic chips and software platform that could eventually be used for autonomous driving functions. The alliance allows Mercedes to jointly develop new automated driving capabilities and software applications and comes at a time when the auto industry…
In a significant development, Gilead Sciences Inc said, it expects to be able to produce twice the quantity of its coronavirus fighting drug remdesivir to COVID-19 patients by the end of this year. It expects to serve to at least 2 million COVID-19 patients by this time frame. Gilead hopes to start trials of an…
In a report the Sunday Times newspaper said, embattled Chinese telecoms equipment maker Huawei Technologies Co Ltd is likely to receive planning permission later this week, to build a $494.24-million (400-million-pound) research and development center in Britain’s Sawston village. Huawei’s facility, located 7 miles (11 km) from Cambridge, will be built for researching and developing…
Following a record borrowing by the United Kingdom government in May, the total debt of the country has now exceeded the worth of its economy. The government borrowed £55.2bn in May this year which was nine times larger than the borrowing of the government in the same month a year ago. It was also the…
On Saturday, according to two sources familiar with the matter at hand, Toshiba Corp plans on gradually trimming its 40% stake from Kioxia Holdings following its IPO later this year. Kioxia Holdings, the world’s second-largest flash memory chip maker, is considering ploughing back nearly 50% or more of its post-tax proceeds from the sale of…
With investments from the likes of Facebook and top Silicon Valley investors Silver Lake and TPG, more than $15 billion in investments for his technology company has been amassed by Indian billionaire Mukesh Ambani within just less than two months, His project has now caught the interest of Saudi Arabia – a powerful investor with…
Amazon.com Inc and Italian luxury brand Valentino have filed a joint lawsuit against New York-based Kaitlyn Pan Group for allegedly making counterfeiting Valentino shoes and placing them for sale online. The development marks Amazon’s first joint litigation with a luxury fashion brand. Kaitlyn Pan did not immediately respond to requests for comments. While Amazon has…
In a significant development, Globalfoundries and SkyWater Technology stated, they have reached a reached a deal to supply semiconductor chips to the U.S. defense industry and will collaborate on developing new technologies. The development comes at a time when the industry is slowly moving towards more U.S. manufacturing. California-based semiconductor manufacturing firm Globalfoundries is owned…
In a statement ride-hailing services company Lyft Inc said, every vehicle on its ride-hailing and rental car platform will be electric by 2030 and that it would not provide direct financial support to drivers for switching from gas-powered cars. John Zimmer, Lyft’s co-founder and president said, the company has reached a scale to impact policy…
