Germany’s North Rhine-Westphalia could be factory site for Tesla’s Gigafactory

North Rhine-Westphalia, Germany’s most populous state, is a leading destination for Tesla’s Gigafactory in the EU. According to a report from German news daily Rheinische Post citing sources familiar with the matter at hand, U.S. electric carmaker Tesla is scouting for a location for a factory in the German state of North Rhine-Westphalia (NRW). According…

Porsche invests undisclosed amount in TriEye

TriEye’s cameras, which uses short-wave-infra-red sensing technology, can see at night as well as in adverse weather conditions. Israeli startup TriEye, which has developed short-wave-infra-red sensing technology which enables cars to see in night time as well as in adverse weather conditions, has attracted $19 million in its latest funding round, which also saw the…

Scout24 to review its auto platform following pressure from Elliot Management

Scout24 will update investors on its review on November 26. Elliot is also pushing Scout24 to ramp up its share buyback program. On Tuesday, Scout24, a German classified listings group stated it would explore options for its autos platform following pressure from activist investor Elliott Management to sell the business. “We have commenced a strategic…

BMW & Tencent to launch computing center for self-driving cars in Tianjin

The computing center is of strategic importance since it will provide self-driving cars the required computing power to analyze real-time data including road and traffic conditions. On Friday, BMW stated, it is partnering with China’s Tencent Holdings to launch a computing center in China which will help develop self-driving cars. The computing center is expected…

Germany’s Federal Office of Justice fines Facebook for $2.26 million

Facebook was fined since it had presented incorrect data on its transporency report on illegal content on its social media platform. In a significant development, German authorities have fined levied a fine of $2.26 million (2 million euros) on Facebook for providing a “distorted picture of the amount of illegal content on the social media…

Next-gen fighter jet and drone will have to competitively priced: French defense minister Florence Parly

France and Germany are spearheading the development of the 5th generation fighter jets, as well as a range of associated weapons, which will include weaponized drones. French defense minister Florence Parly highlighted the need to make the next-generation drone being developed by several European nations price competitive. France and Germany are spearheading the development of…