In a statement the Biden Administration announced that the U.S. Department of Energy will “offer $100 million in funding to support low-carbon energy technologies”; it will also create a working group to aid their development and sale. The announcement was made by National Climate Advisor Gina McCarthy at the White House’s first meeting of the…
In a statement Toyota Motor Corp said it will unveil two new electric vehicles which will go on sale in the United States midst growing push by the Biden administration to cut vehicle emissions. The announcement pushed up the Japanese automaker’s shares. Toyota also mentioned that it expects hybrid vehicles or electric vehicles to make…
In a statement the White House said, the Bidden Administration has not set a specific timetable for reviewing TikTok and other issues related to Chinese technology companies; further, the administration is also not undertaking any new proactive new steps now. The development marks a softening of U.S. approach towards China. According to two sources briefed…
According to a report from the Financial Times, in recent months, Microsoft Corp had approached Pinterest Inc for a potential acquisition. The social media company is worth at least $51 billion, said the report. Negotiations on the deal are not currently active, said FT in its report.
According to a report from Nikkei Asia, Apple Inc has entered into a partnership with Taiwan Semiconductor Manufacturing Co, to develop ultra-advanced display technology in Taiwan. Apple plans on equipping micro OLED displays in its upcoming augmented reality devices, said the report citing sources. Apple is working closely with TSMC, the sole supplier of iPhone…
According to a report from Bloomberg News, Tesla Inc’s rival electric-vehicle startup Rivian is likely to go public later this year at a valuation of around $50 billion or more. The startup has the backing of Ford Motor Co and Amazon.com Inc. While Rivian has been in talks with bankers about its plans, its timeline…
On Tuesday, Chinese smart vehicle supplier Shanghai PATEO stated along with General Motors Co’s local venture with SAIC Motor Corp it has filed a joint complaint against Chinese tech giant Tencent to China’s market regulator. In a statement, PATEO said Tencent abused its dominant messaging app’s market position to restrict sales of its products which…
On Tuesday, cryptocurrencies extended their gains with Ethereum and Bitcoin reaching record highs; the development comes in the wake of Tesla investing $1.5 billion in bitcoin. Bitcoin posted its biggest daily percentage gain in more than three years overnight following Tesla Inc’s disclosure of its investment in the bitcoin in its 2020 annual report. On…
On Monday, in a report Japan’s the Nikkei business daily said, Mitsubishi Corp is set to enter into an agreement to “provide Amazon.com Inc’s European facilities with renewable energy through its Dutch unit, Eneco”. An offshore wind farm which is being built by Eneco is scheduled to come online in 2023; it will supply 130…
On Monday, Japan’s Renesas Electronics Corp stated, it is in talks to acquire British-based Dialog Semiconductor in a deal that is likely to bolster its automotive chip business and value it around $6 billion. Under the terms of the potential deal, Renesas would pay 67.50 euros a share for Frankfurt-listed Dialog, said Renesas in a…
