Chip shortage likely to impact nearly 1M vehicle production during Q1: IHS Markit

In a significant development, data firm IHS Markit stated, the shortage of chips in the auto semiconductor sector is likely to impact around 1 million units of global light vehicle production during the first quarter. The announcement sees a major jump from its previous forecast. On February 3, in a report HIS Markit had stated,…

Disney+ service registers 8M paid subscribers in India in 1 week after rollout, crosses 50M paid subscribers globally

In a statement, Walt Disney Co said, its streaming service Disney+ has had a massive fan following and has registered 50 million paid consumers, with 8 million alone coming from India where the video streaming service was rolled out just a week back. As of this last quarter’s report, Netflix Inc reported a subscriber base…

Japanese carmaker Subaru to recall 2.3 million vehicles globally

The comparatively tiny Japanese automaker is facing a series of quality assurance related issues over rapid expansion in the U.S. In a significant development, Japan’s Subaru Corp stated it plans on recalling nearly 2.3 million vehicles globally over an issue with brake lights. This will be the automaker’s biggest-ever recall as it struggles with a…

Amazon allows Apple Music on its Echo speakers

This strategic move sees Amazon.com increasing its cooperation with Apple and is probably aimed at boosting its market footprint at the cost of Alphabet’s Google. On Friday, in a move that marks increased collaboration between two tech giants, Amazon.com Inc stated, Apple Music will become available on its Echo smart speakers starting December 17, 2018.…

VW aiming to build 50 million electric vehicles globally: Herbert Diess

The development underscores VW’s near-long term strategy post 2020. Volkswagen’s Chief Executive Herbert Diess told Automotive News, the carmaker is likely to build up to 50 million electric cars on its new electric vehicle platform. VW is also looking to expand its manufacturing footprint in the United States. “We set up the plant in Chattanooga…

Elon Musk shakes up SpaceX management in a race to provide satellite-based internet services

Known for his aggressive management style, Elon Musk is pushing hard to become the first internet-based service provider – a move that could make a huge splash in the U.S. and global broadband market. According to two employees of SpaceX with direct knowledge of the matter at hand, Elon Musk, SpaceX’s Chief Executive Officer, known…