According to the results of a survey by Germany’s Ifo economic institute, German carmakers are optimistic about production and exports of vehicles in May. The development comes as a ray of hope in Germany’s economy which has been ravaged by the coronavirus which emerged in Wuhan, China. Germany’s index for export expectations rose to -9.8…
On Wednesday, Polestar, an electric vehicle maker owned by China’s Geely stated, it plans on opening 20 showrooms in the mainland, as it prepares for deliveries of its Polestar 2 electric sedan. Polestar aims to compete with Tesla Inc’s Model 3. Currently, Polestar has just 1 showroom in Beijing. It plans to have 20 of…
In a statement on Tuesday, France’s state-controlled power group EDF said, it has entered into a joint venture partnership with China Energy Investment Corporation (CEI) to develop offshore wind farms in China. EDF will take a 37.5% stake in the project company through its subsidiaries EDF Renewables and EDF China with CEI Group holding the…
On Tuesday, in a significant development, Telefonica Deutschland stated, it will build its core 5G mobile network in Germany using equipment procured from Ericsson; Telefonica Deutschland took this view basing itself on security concerns revolving around next-generation services. Three main mobile service providers in Germany are taking steps to remove Huawei from their core network;…
On Monday, in a statement Samsung Electronics Co Ltd said, the construction for a new domestic production line for NAND flash memory chips has begun following an increase in demand for personal computers and servers since the coronavirus induced lockdowns has boosted the number of people working from home. Samsung expects the new production line…
On Friday, in a statement Anhui Jianghuai Automobile Group (JAC Motors) said, Europe’s biggest carmaker, Volkswagen AG, has agreed to purchase 50% of its parent company Anhui Jianghuai Automobile Group Holding. The development sees VW further strengthening its grip on the electric vehicle market.
Dell Technologies Inc reported a rise in its quarterly revenues, which beat analysts’ estimates, on the back of a rise in demand for its workstations from companies which saw employees working from home due to the coronavirus outbreak. With the news reaching the market, Dell’s shares rose by 8.3% to $49.38 in extended trading. Revenues…
In a statement, citing a rise in demand, General Motors stated it will start boosting the number of vehicles produces in North America starting from next week. From June 1 GM’s crossover assembly plants in the United States and Canada will include two production shifts. Three of GM’s U.S. assembly plants which produce medium and…
In a tweet on Wednesday, Arizona’s Attorney General Mark Brnovich said “Google collects detailed information about its users, including their physical locations, to target users for advertising. Often, this is done without the users’ consent or knowledge”. Arizona has filed a consumer fraud lawsuit against Alphabet Inc’s Google alleging that the tech giant used “deceptive”…
On Thursday, China’s Tencent Holdings Ltd said, it has raised $6 billion in debt in what is the largest ever debt deal by an Asian company this year. According to a term sheet, the deal, which was finalized early on Thursday, saw Tencent raising $1 billion in five-year debt, $2.25 billion in 10-year, $2 billion…
