Taiwanese chip producer Foxconn ramps up interest in EVs, announces deal with Fisker Inc

On Thursday, shares of Foxconn rose by 4.5% after the company announced that it will collaborate with Fisker Inc to produce more than 250,000 electric vehicles a year, starting from late 2023. Over the last 1 year, Taiwan based Foxconn has ramped up interest in electric vehicles and has announced deals with Stellantis NV’s Fiat…

Klein’s $43Mn Investment Turns Into $3.3Bn Due To Lucid’s Dream Deal

A paper gain of almost $3.3 billion on an investment of $43 million personal investment in the blank-check acquisition firm they are merging with luxury electric vehicle startup Lucid Motors Inc have been made by veteran dealmaker Michael Klein and his partners, said a report from Reuters. A meteoric rise in the shares of Klein’s…

Following Australia Row, Investment Of $1bn In Local News Industry Pledged By Facebook

Following a truce with the Australian government over a tussle related to the new content law being brought in the country, an investment of at least $1 billion in the news industry in the country over a period of the next three years would be made by the social media company Facebook. The largest social…

SK Hynix signs 5 year procurement contract worth $4.34 billion with ASML Holding N.V.

On Wednesday, the world’s second-largest memory chip maker SK Hynix stated, it has agreed to a five-year procurement contract worth $4.34 billion (4.8 trillion won) with ASML Holding N.V. to secure extreme ultraviolet (EUV) scanners that are used to manufacturing chips. In a regulatory filing, SK Hynix said, the deal is for its planned mass-production…

Oshkosh Defense wins 10-year contract agreement to build next-gen U.S. Postal delivery vehicle

In a significant development, the U.S. Postal Service (USPS) stated, it will award a multibillion-dollar, ten-year contract agreement to Oshkosh Defense to manufacture a new generation of postal delivery vehicles. Under the initial $482 million investment, Oshkosh Defense, a unit of Oshkosh Corp, will finalize the production design, testing and vehicle tooling required prior to…

Spotify Will Launch Its Services In More Than 80 New Countries

The streaming platform Spotify will now have the opportunity to reach out to an additional one billion customers as the company plans to expand its business and launch its services in 85 new markets. The company made the announcement during a live streaming event that featured Justin Bieber, Prince Harry and Meghan Markle. A new…

Luxury EV maker Lucid Motors to go public with $11.75 merger with black check company Churchill Capital IV Corp

In a statement luxury electric vehicle maker Lucid Motors stated, it will go public by merging with blank-check firm Churchill Capital IV Corp in a deal that values the combined company at $11.75 billion. Incidentally, CCIV, which has the backing of Michael Klein, and new private investors are getting shares at different prices: the new…