Huge demand for all-electric coupe Taycan: Porsche AG

On Monday, Oliver Blume, the CEO of luxury sports car maker Porsche AG said, the carmaker is attracting huge demand for its all-electric coupe Taycan model, causing wait times to stretch to up to six months. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the…

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Nvidia Corp’s acquisition of Arm will harm competition: Elon Musk

Tesla’s CEO Elon Musk has been quoted by the Telegraph as saying, he is concerned over Nvidia Corp’s planned acquisition of British chip designer Arm since it could impact competition. Telegraph’s report also mentions that Amazon.com Inc and Samsung Electronics Co Ltd have also raised opposition to the deal with U.S. authorities. Earlier this year, the US FTC…

Western Digital in advanced merger talks with Japanese chipmaker Kioxia Holdings Corp

According to a source familiar with the matter at hand, Western Digital Corp is in advanced talks for a potential $20 billion stock merger with Japanese chipmaker and partner Kioxia Holdings Corp. The talks could potentially conclude in an agreement as early as mid-September in the event of which David Goeckeler, Western Digital’s CEO would…

Group14 Technologies enters into battery material supply deal with Europe’s InoBat

In a statement Group14 Technologies said, it has entered into a battery materials supply agreement with Europe’s InoBat under a partnership to manufacture high-energy density cells for electric vehicles. Demand for high-capacity, lithium-silicon batteries has increased as manufacturers shift to electric vehicles to tap a rapid transition to cleaner sources of energy. InoBat, established in…

Aerospace startup Boom Supersonic aims to start supersonic trans-Atlantic commercial air travel by 2029

In a statement, Aerospace startup Boom Supersonic said, it hopes to resurrect supersonic commercial air travel across the Atlantic, which was last seen when British Airways and Air France flew the SST Concorde in the 1970s. Boom Supersonic is aiming to fly 65 passengers from New York to London in little more than three-and-one-half hours,…

South Korea’s SK Group to invest $100M in AirAsia’s digital arm BigPay

On Friday, in a statement South Korea’s SK Group said, it will invest up to $100 million in the fintech unit of AirAsia Group Bhd. BigPay, a unit of AirAsia’s digital arm, offers a prepaid debit card, local and international money transfers, micro-insurance, bill payments and a budgeting tool. “Our ambition has always been to establish…

South Korean game developer Krafton Inc prices IPO at top of indicative range, to raise $3.75 billion

On Thursday, South Korean game developer Krafton Inc said, it had priced its initial public offering (IPO) at the top of its indicative range to raise $3.75 billion (4.3 trillion won). Krafton’s shares were priced at 498,000 won compared with a range of 400,000-498,000 won per share. Despite the target cut, it is the second-biggest…

India-focused messaging startup Gupshup raises $240M in Tiger Global Management led funding round

Ahead of its potential IPO in 2022, India-focussed Silicon Valley messaging startup Gupshup said, it had raised $240 million in a funding round that was led by Tiger Global Management and others. While investment from venture capitalists is typically used for hiring engineers or expanding sales and marketing, buy-back deals allow investors, in the startup,…

Toyota acquires US map and driverless data provider Carmera

On Thursday Toyota Motor Corp’s research arm said, it had acquired US based map and driverless vehicles data provider Carmera. The acquisition underscores Toyota’s push to bulk up its self-driving arsenal as traditional automakers compete with tech giants in the emerging autonomous vehicles sector. The acquisition will provide Toyota access to real-time, high-definition maps and crowdsourced…