Toshiba’s plan will see it spin off two core businesses — its energy and infrastructure unit as well as its device and storage operation. Japanese conglomerate Toshiba has confirmed plans to split the company into three separate businesses, BBC reported. Toshiba said the three companies would be focused on infrastructure, semiconductors and devices. The company… Continue reading Toshiba announces plan to split into 3 separate businesses
Author: Economic Times of India Online News
Apple supplier Foxconn cautious on 2022 revenue outlook
Earlier Foxconn, the world’s largest contract electronics maker, reported a 20% jump in third-quarter profit. Apple supplier Foxconn forecast on Friday that a global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15%. Chairman Liu Young-way said during a conference call… Continue reading Apple supplier Foxconn cautious on 2022 revenue outlook
Rivian rockets past GM to become 2nd most valuable carmaker
Rivian’s goal this year is to produce 1,000 electric vehicles. NEW YORK: Rivian Automotive, a company that has delivered about 150 electric pickup trucks mostly to employees, has surpassed General Motors to become the nation’s second most valuable automaker. The California company’s market valuation exceeded Ford’s in its first day a public company Wednesday. Its… Continue reading Rivian rockets past GM to become 2nd most valuable carmaker
BUZZ-Toshiba’s Frankfurt shares drop on plans to split business
(Adds London-listed CDIs) ** Toshiba’s Frankfurt shares down around 4% after co announces plans to break itself into three independent firms ** Japanese co, whose plans comes hot on the heels of a similar move by U.S. giant General Electric, says it will spin off its energy and infrastructure business and its device and storage… Continue reading BUZZ-Toshiba’s Frankfurt shares drop on plans to split business
Hyundai Motor Group establishes US UAM subsidiary ‘Supernal’ in Washington
Supernal is planning to introduce a fully electrified UAM model in 2028 and regional air mobility (RAM) for intercity operations in 2030. Hyundai Motor Group confirmed the name of its urban air mobility (UAM) subsidiary in Washington DC, the US as ‘Supernal‘ and will speed up the UAM business. Hyundai Motor Group set up the… Continue reading Hyundai Motor Group establishes US UAM subsidiary ‘Supernal’ in Washington
Flex-fuel engines to be made mandatory in coming days: Gadkari
Union Transport Minister Nitin Gadkari Union Transport Minister Nitin Gadkari on Thursday stressed on the use of ethanol in vehicles as a cost effective and pollution-free substitute to other fuels, and said flex-fuel engines will be made mandatory in the coming days. The flex-fuel, or flexible fuel, is an alternative fuel made with a combination… Continue reading Flex-fuel engines to be made mandatory in coming days: Gadkari
UK’s Saietta group buys e-Traction from China Evergrande’s auto unit
British electric motor maker Saietta British electric motor maker Saietta said on Thursday that it is acquiring electric powertrain company e-Traction from China Evergrande Group’s automotive unit in a deal wroth up to 2 million euros ($2.31 million). Saietta said that its acquisition of e-Traction, a Dutch company owned by Evergrande New Energy Vehicle Group… Continue reading UK’s Saietta group buys e-Traction from China Evergrande’s auto unit
MG Motor India inaugurates residential community EV charger in Gurugram
MG had earlier partnered with Fortum and Tata Power to introduce superfast charging stations. New Delhi: MG Motor India on Thursday said it has inaugurated the first residential community charger in Gurugram with 7.4 kW AC chargers installed at The WorldSpa condominiums. The carmaker has collaborated with Electreefi and the condominium’s Residents’ Welfare Association (RWA)… Continue reading MG Motor India inaugurates residential community EV charger in Gurugram
EVs will cost equal to that of petrol vehicles in next 2 years: Gadkari
“We import 80 percent plus of our petrol and diesel requirements. We import petrol and diesel worth Rs 8 lakh crore. If we continue to depend on fossil fuels then in the next five years, our import bill will rise to Rs 25 lakh crore,” he said. The Central government is working on measures to… Continue reading EVs will cost equal to that of petrol vehicles in next 2 years: Gadkari
EV charging startup ElectricPe raises seed round of USD 3 million
EV charging startup ElectricPe New Delhi: The Bengaluru-based EV charging startup ElectricPe on Thursday said it has raised a Seed Round of $3 million. The funding is led by Blume Ventures and Micelio Fund, and the startup will utilize the capital to further develop its deep-tech platform to enable easy access to affordable charging points… Continue reading EV charging startup ElectricPe raises seed round of USD 3 million