Oshkosh Defense wins 10-year contract agreement to build next-gen U.S. Postal delivery vehicle

In a significant development, the U.S. Postal Service (USPS) stated, it will award a multibillion-dollar, ten-year contract agreement to Oshkosh Defense to manufacture a new generation of postal delivery vehicles. Under the initial $482 million investment, Oshkosh Defense, a unit of Oshkosh Corp, will finalize the production design, testing and vehicle tooling required prior to…

Cryptocurrencies extend gains following Tesla Inc’s investment in Bitcoin

On Tuesday, cryptocurrencies extended their gains with Ethereum and Bitcoin reaching record highs; the development comes in the wake of Tesla investing $1.5 billion in bitcoin. Bitcoin posted its biggest daily percentage gain in more than three years overnight following Tesla Inc’s disclosure of its investment in the bitcoin in its 2020 annual report. On…

Hyundai Motor to launch dedicated Electric Global Modular Platform in major push towards electric vehicles

On Wednesday, in a statement South Korea’s Hyundai Motor Group stated, early next year it will introduce an electric vehicle-only platform which will use its battery technology to cut production time and costs. The plan by Hyundai Motor Group, the world’s No.5 auto group, aims to become a major player in the global EV market,…

Panasonic’s Q1 profits at Tesla’s Gigafactory boost investor confidence in EV market

On Tuesday, following Panasonic Corp’s first quarter report, shares of Asian companies in Tesla Inc’s battery supply chain surged. Panasonic’s battery venture with Tesla has boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s Gigafactory is also another validation of Tesla founder Elon…