Tag: Strategy

Cummins Increases Presence and Footprint in Indiana

INDIANAPOLIS–(BUSINESS WIRE)–Today at the Indianapolis Motor Speedway, Cummins Inc. (NYSE: CMI) along with the Governor of Indiana and the Mayors of Columbus, Greenwood and Indianapolis, announced plans to expand its presence along the “Cummins Corridor” with new building projects and investment along I-65 in its global headquarters in Columbus, in Greenwood and in Indianapolis, Indiana.… Continue reading Cummins Increases Presence and Footprint in Indiana

European Investment Bank to support Northvolt’s battery gigafactory in Sweden

BRUSSELS, May 16 (Xinhua) — The European Investment Bank (EIB) gave its approval in principle on Thursday to help finance Europe's first home-grown gigafactory for lithium-ion battery cells, Northvolt Ett, in Sweden.
The batteries from Northvolt Ett's batteries are used in automotive, grid storage, and industrial and portable applications. Ramping up to full capacity, Northvolt Ett will produce 32 GWh of battery capacity per year.
“The development of a competitive and green battery value chain within Europe can not only cut greenhouse gas emissions by decarbonising power generation and transport, but can also help protect millions of well paid jobs in European industries in the face of increasing global competition,” said EIB vice-president Andrew McDowell.
According to him, the 350-million-euro loan to Northvolt approved in-principle on Thursday “is the largest ever direct EIB financing approval for battery technology, and we look forward to working with Northvolt over the ..

Volkswagen at the 40th International Vienna Motor Symposium: autonomous vehicles, hybrid drives and the start of a new era in electric mobility

With the introduction of its 48-volt mild hybrid drive system, Volkswagen is entering the next phase of the large-scale electrification of its fleet Volkswagen will be providing an in-depth insight into its modular electric drive matrix for the very first time The next step will see Volkswagen working to advance the development of highly automated… Continue reading Volkswagen at the 40th International Vienna Motor Symposium: autonomous vehicles, hybrid drives and the start of a new era in electric mobility

Michelin announces its acquisition of Masternaut, one of the largest European telematics providers

Michelin announces its acquisition of Masternaut, one of the largest European telematics providers In line with the Group’s development strategy in the Services & Solutions business and leveraging the experience it has gained following the Sascar and NexTraq acquisitions in America, Michelin announces it has signed an agreement to acquire the entire share capital of… Continue reading Michelin announces its acquisition of Masternaut, one of the largest European telematics providers

Class-leading Onboard Battery Charger Strengthens BorgWarner’s EV Systems Leadership

AUBURN HILLS, Mich., May 16, 2019 /PRNewswire/ — BorgWarner introduces its state-of-the-art Onboard Battery Charger (OBC), adding to the company’s impressive portfolio of technologies for plug-in hybrid and pure-electric vehicles. This technology uses pioneering silicon carbide technology and is best in class for power density, power conversion efficiency and safety compliance. The OBC is installed… Continue reading Class-leading Onboard Battery Charger Strengthens BorgWarner’s EV Systems Leadership

Statement by Harald Krüger, Chairman of the Board of Management of BMW AG, 99th Annual General Meeting of BMW AG in Munich on 16 May 2019

Maintaining our stance. Leading the way. Taking responsibility. To all our shareholders, Here in the Olympic Hall and those watching online, a very warm welcome! I would also like to welcome our associates and all our other guests. This is our 99th Annual General Meeting – an impressive number! We have had our ups and… Continue reading Statement by Harald Krüger, Chairman of the Board of Management of BMW AG, 99th Annual General Meeting of BMW AG in Munich on 16 May 2019

Inspire rather than prescribe: BMW Group believes in technology openness for e-mobility

Munich. The BMW Group, a pioneer in electromobility, is rapidly expanding its range of electrified vehicles. Within two years, the company will offer five fully-electric series-production vehicles: Alongside the BMW i3, with more than 150,000 units built to date, this year will see the start of production of the fully electric MINI at Plant Oxford… Continue reading Inspire rather than prescribe: BMW Group believes in technology openness for e-mobility

Tesla’s communications chief is leaving the automaker

Dave Arnold, Tesla’s senior director of communications, is leaving the company after two-and-half years, according to sources familiar with the move. Tesla confirmed to TechCrunch that Arnold was leaving in June. “We’d like to thank Dave for his work in support of Tesla’s mission, and we wish him well,” a Tesla spokesperson said in a… Continue reading Tesla’s communications chief is leaving the automaker