Tesla likely to enter Indian car market in 2021: Elon Musk
In a response to a tweet, Tesla Inc’s CEO Elon Musk suggested that the carmaker is likely to foray into the Indian car market next year. Maharastra, India’s richest state, had invited the U.S. electric carmaker to invest in the country. In a tweet on Thursday, the state’s tourism and environment minister Aaditya Thackeray said,…
Airbnb hires former Apple designer Jony Ive ahead of anticipated IPO
In a statement Airbnb Inc stated it was hiring former Apple designer Jony Ive and his firm to design new Airbnb products and services, under a multi-year contract agreement, Incidentally, Ive was a close creative collaborator with Apple Inc’s co-founder Steve Jobs and has spent nearly three decades in Cupertino leading the design of the candy-colored…
Amazon.com expands footprint in Latin America, announces $100M logistics investment in Mexico
In a bid to offer faster deliveries, on Thursday, Amazon.com Inc stated, it has invested $100 million in opening new warehouses in Mexico, including its first shipping centers outside Mexico City. The new sites includes two fulfillment centers, with one located near the northern city of Monterrey and the other near the central city of Guadalajara,…
Entire first year of GM’s pickup truck Hummer EV sold out
In a significant development General Motors Co said, its first year of its GMC Hummer EV electric pickup truck has been sold out. GMC’s website shows a “reservations full” banner over the Hummer EV “Edition 1,” which is scheduled to commence production in the fall of 2021. Its next version, the Hummer EV 3X, which sets…
Facebook launches dating service in 32 European countries
After years of regulatory concerns and much delay, Facebook Inc has launched a dating service in 32 European countries. The social media giant had postponed the rollout of its Facebook Dating in Europe in February after concerns were raised by Ireland’s Data Protection Commissioner (DPC), the main regulator in the European Union for a number…
Cruise & GM, seek regulatory approval for self-driving vehicles without pedals & steering wheel
In a significant development, self-driving carmaker Cruise stated, along with its majority shareholder General Motors Co, it is seeking U.S. regulatory approval for deploying a limited number of Cruise Origin vehicles which will not feature pedals or steering wheels. At the same time, it plans on withdrawing an exemption petition filed which it had filed…
McAfee raises $620 million in U.S. IPO
In a statement cyber security giant McAfee Corp stated, it has raised $620 million from its initial public offering (IPO) which saw its shares list at $20 per share, well within its target range. The IPO valued McAfee at $8.6 billion based on total outstanding shares. As of the end of June 2020, McAfee which was…
SK Hynix To Acquire Intel’s NAND Memory Chip Business For $9 Billion
A part of its memory chip business will be sold by the United States chipmaker Intel to the South Korean tech company SK Hynix in a deal worth $9 billion. Following the completion of the deal, SK Hynix’s manufacturing capacity is slated to increase and make it the second biggest flash memory chipmaker of the…
After National Lockdown Lifting In UK, Reckitt Notes Rise In Durex Sales
There has been a spurt in sale of condoms for the market leader Durex after the lifting of the national lockdown indicating a spur in a summer of love. Over the summer months, when lifting of lockdown and other restrictions imposed because of the novel coronavirus pandemic enabled people to rekindle their sex lives, there…
