General Motors Co working on technology to slash EV battery costs

In a statement General Motors Co’s President Mark Reuss said, the company is testing a variety of battery chemistry technologies and manufacturing processes aimed at slashing the cost of future electric vehicle batteries and reducing its dependence on such price-sensitive metals including cobalt. While speaking at an investor conference, Reuss said “GM is experimenting with…

IBM’s new battery design reduces cobalt requirements, uses minerals from seawater instead

In a significant breakthrough, International Business Machines Corp stated, it has created a battery design that uses materials extracted from seawater and which does not use cobalt, an expensive mineral. IBM stated, it has partnered with the research wing of Daimler AG’s Mercedes-Benz, and battery manufacturer Sidus, for the commercial development of the new design.…

China to pass cryptography law in preparation for launching digital currency

China is treating blockchain technology as a foundational building block for future science and technology innovations. Late on Saturday, in a development that marks China gearing up to launch its own digital currency, the country’s rubber stamp parliament passed a new law on cryptography, reported state media late on Saturday. In 2014, China’s central bank…

Intel to sink in $10.9 billion for new chip plant: Moshe Kahlon Israel’s finance minister

Intel is one of the biggest employers in Israel as well as one of its biggest exporters. Israel’s finance minister has stated, Intel Corp will sink in $10.9 billion (40 billion shekels) on a new chip plant factory in Israel, as part of its most recent multi-billion dollar investment in the country. “Intel’s global management…

HSBC settled forex trades worth $250 billion in 2018

The development marks Blockchain’s technology’s growing traction in the financial industry. In a development that marks Blockchain’s growing traction in the asset management industry, HSBC stated it had settled forex trades worth $250 billion (£194.15 billion) using blockchain in 2018. The development assumes significance since until now this sector had hesitations on embracing blockchain technology.…

U.S.-Israeli mobility technology company Optibus raises $40 million in private funding round

The funding round saw the Alibaba Group making an undisclosed strategic investment in the startup. Optibus, a U.S.-Israeli mobility technology company stated, it has secured $40 million in a private funding round that was led by Insight Venture Partners and which saw a strategic investment from the Alibaba Group. Its existing investors, including Sir Ronald…