Volkswagen’s first mass-market electric vehicle is set to launch later in 2019. In addition to the new car’s electric credentials, the company has focused production for the new VW ID. series on avoiding and reducing CO2 emissions. The battery cells will be produced in Europe, and the energy will come from green power sources. Meanwhile, the ID Read More..
Samsung plans to invest $22.3 billion over the next three years in areas such as artificial intelligence, 5G communication, automotive electronics components and biopharmaceuticals. Overall investments, aimed at making the Korean electronics conglomerate a global technology leader, are set to total more than $160 billion. That will include spending on future growth businesses and a Read More..
Softbank will invest $1.1 billion in GM Cruise Holdings, adding more financial muscle to General Motors’ plan to ready autonomous-driving technology for commercial implementation in 2019. The US automaker is also committing an additional $2.25 billion of its own funds to Cruise. GM said SoftBank, a Japanese technology and communications group that invests in new technologies, Read More..
Ford Motor has invested a further 25 million dlrs to increase line speed at its plant in Louisville, Kentucky, to meet a 25 pc increase in output of the Lincoln Navigator and Ford Expedition SUV models as retail sales surge in the US. The carmaker’s investment includes 400 new robots and a data analytics hub Read More..
Jaguar Land Rover is expanding its advancedÂ engineering and design center in Whitley, England, in a move to speed up the development of technologically sophisticated premium vehicles. The British carmaker, which is owned by India’s Tata Group, said in a press release that it is making a multi-million pound investment in Whitley, where it has acquired Read More..
Daimler will acquire a 12 pc stake in Beijing Automotive Group’s (BAIC) passenger car division, the first time a western carmaker invests directly in a Chinese auto group. The two companies were already working together in various areas, but the investment lays the groundwork for closer cooperation in the world’s biggest car market. Daimler will Read More..
With demand for its cars surging, Audi plans to invest 3 billion euros in China in the next five years, according to a report in the government-owned China Daily. The newspaper, citing an interview with Wolfgang Duerheimer, Audi’s head of research and development, said the funds are earmarked to develop, produce and sell new cars Read More..
Volkswagen Group plans to invest 50.2 billion euros in the next three years to strengthen competitiveness and safeguard its future. “Despite the challenging economic environment, we are investing more than ever before to reach our long-term goals,â€ said Martin Winterkorn, CEO ofÂ Europe’s largest automotive group. The plan covers investment for the years 2013, 2014 and Read More..
SAP plans to spend more than 2 billion dlrs in China as it strengthens its commitment to one of the world’s fastest growing major markets. The German business software maker said in a press release that it wants to increase local r&d activities, hire and train more people and bring its own benchmarking technology to Read More..
General Motors is investing 6 million dlrs in Proterra, a maker of zero-emission commercial transit buses. The investment comes from funds the automaker has earmarked to identify and help develop innovative new transportation technologies. GM said its GM Ventures division is part of an investment group led by venture capital firm Kleiner Perkins Caufield & Read More..