Category: News Type

Ford and SK to build $5bn EV battery plant for US supply chain

NEW YORK/SEOUL — Ford Motor will form a joint venture with South Korea’s SK Innovation to manufacture batteries for electric vehicles in the U.S., the companies said Thursday. Through the venture, named BlueOvalSK, the two partners will invest about $5.3 billion to build a new battery plan in the U.S. The announcement, which comes ahead… Continue reading Ford and SK to build $5bn EV battery plant for US supply chain

Toyota US parts maker hit by cyberattack, data compromised

NAGOYA, Japan — An American manufacturing unit of Toyota Auto Body was hacked by what is believed to be a Russian cybergang, the Toyota Motor subsidiary said Thursday, with sensitive information exposed online. The admission came less than a week after another group member of the Japanese auto giant reported a cyberattack. Toyota Auto Body… Continue reading Toyota US parts maker hit by cyberattack, data compromised

Ford and SK Innovation to announce EV battery joint venture

DETROIT/SEOUL (Reuters) — Ford Motor and South Korean battery maker SK Innovation are set to launch a battery joint venture in the United States to support the ramp-up of the No. 2 U.S. automaker’s electric vehicle rollout, two people familiar with the matter said. A memorandum of understanding about the joint venture will be announced… Continue reading Ford and SK Innovation to announce EV battery joint venture

Indonesia’s anti-trust agency to scrutinise Gojek-Tokopedia merger …

Indonesia’s anti-trust agency (KPPU) on Thursday said it would scrutinise the multi-billion dollar merger of the country’s startups Gojek and Tokopedia to check for potential monopolistic behaviour. Ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced their merger earlier this week into a tech company GoTo in Indonesia’s largest-ever deal. The combined entity, which… Continue reading Indonesia’s anti-trust agency to scrutinise Gojek-Tokopedia merger …

@Ford: Ford Commits to Manufacturing Batteries, to Form New Joint Venture with SK Innovation to Scale NA Battery Deliveries  

DEARBORN, Mich.–(BUSINESS WIRE)–Ford and SK Innovation announced today they have signed an MoU to create a joint venture – to be called BlueOvalSK – to produce approximately 60 GWh annually in traction battery cells and array modules, starting mid-decade, with potential to expand. “This MoU is just the start; it’s a key part of our… Continue reading @Ford: Ford Commits to Manufacturing Batteries, to Form New Joint Venture with SK Innovation to Scale NA Battery Deliveries  

Ford and SK Innovation announce battery manufacturing joint venture BlueOvalSK

Ford Motor Company and Seoul, South Korea-based SK Innovation signed a memorandum of understanding to establish a joint venture to domestically manufacture batteries for electric vehicles, the two companies said Thursday. The new venture, dubbed BlueOvalSK, will produce around 60 GWh annually starting mid-decade. The MOU is the latest sign that Ford intends to vertically develop… Continue reading Ford and SK Innovation announce battery manufacturing joint venture BlueOvalSK

Magenta EV Solutions raises Rs 120 crore in Series A funding

Mumbai-based, electric vehicle charging solutions company, Magenta EV Solutions (Magenta) has raised more than $15 million (Rs 120 crore) in Series A funding from eminent Indian-American cardiologist, philanthropist billionaire and serial entrepreneur, Dr. Kiran Patel. Founded by Maxson Lewis and Darryl Dias, Magenta was Incorporated in 2017, and in the last three years, it has… Continue reading Magenta EV Solutions raises Rs 120 crore in Series A funding