Category: News Site

Toray boosts carbon fiber output for fuel cell vehicles by 50%

TOKYO — Japanese materials maker Toray Industries will ramp up production of carbon fiber for fuel cell vehicles in the U.S. and Japan by 50% this fiscal year, Nikkei has learned, pivoting to a field expected to see growth as demand from the aviation industry tumbles. The company will switch over production lines for aircraft materials to make… Continue reading Toray boosts carbon fiber output for fuel cell vehicles by 50%

Chinese EV startup WM Motor raises $1.5bn in biggest funding round

HONG KONG — Electric vehicle startup WM Motor, one of China’s ambitious challengers to Tesla, said it raised 10 billion yuan ($1.47 billion) from a group of state-backed investors — among others — after the successful stock market listings of bigger domestic rivals. The latest round of fundraising was led by the investment arm of the… Continue reading Chinese EV startup WM Motor raises $1.5bn in biggest funding round

Aurora Labs Raises $23M in Series B Funding

Aurora Labs, a Tel Aviv, Israel-based provider of self-healing software for connected cars, secured $23m in Series B funding. The round was led by LG Technology Ventures, the investment arm of the LG Group, and Marius Nacht, co-founder of Check Point Software Technologies. Porsche SE, majority owner of the VW group which includes Volkswagen, Audi,… Continue reading Aurora Labs Raises $23M in Series B Funding

India: Vehicle rental platform Drivezy in talks to raise up to $35m

The new round will, however, see Drivezy’s post-money valuation drop by nearly a quarter to $100 million, from the $135-million valuation it was seeking in its earlier funding talks in March, said one of the two people mentioned above, who did not wish to be named. “Drivezy is also evaluating shifting its headquarters to UAE… Continue reading India: Vehicle rental platform Drivezy in talks to raise up to $35m

BASF to reduce 2,000 headcount from Global Business Services unit by end-2022

BASF is planning realignment of its Global Business Services unit. The division was set up on January 1, 2020, as part of the implementation of BASF’s corporate strategy. As of that date, around 8,400 employees worldwide were transferred to Global Business Services and since then have been providing services for BASF’s business units, ranging from… Continue reading BASF to reduce 2,000 headcount from Global Business Services unit by end-2022

Chinese smart petrol service platform Nucarf bags nearly $100m

Nucarf Group, an intelligent petrol solution platform for the logistics industry, has garnered approximately $100 million in its Series A and A+ rounds of funding, the company announced on WeChat on Tuesday.  The Series A round of financing was led by returning investor Eastern Bell Capital and joined by Xiamen C&D Corporation Limited’s subsidiary C&D… Continue reading Chinese smart petrol service platform Nucarf bags nearly $100m

German Manager Magazin: Tesla Battery Day: Elon Musk slows down battery euphoria000153

Tesla-Boss Elon Musk (49) tried to curb the self-generated hype about the “Battery Day” he staged. The event, which was already announced for Tuesday in 2019, had aroused great expectations. Tesla’s share price had also risen against the market at the beginning of the week, the company is now around four and a half times… Continue reading German Manager Magazin: Tesla Battery Day: Elon Musk slows down battery euphoria000153

Teleworking: PSA is leading its revolution in discretion

Posted on Sep 22, 2020 at 11:15 a.m. In recent days, some 40,000 PSA employees around the world (including 18,000 in France) have switched to a new work organization almost without realizing it. Since the beginning of September, teleworking 3.5 to 4 days a week has indeed become the rule for all employees “not directly… Continue reading Teleworking: PSA is leading its revolution in discretion