Expect Even More Unique Electric Cars Says Ferrari

Italy based manufacturer of luxury sports car Ferrari NV (BIT: RACE) has unveiled its new business plan and promised to produce even more unique electric cars as it wants to preserve its uniqueness as it shifts to electric models. “Everything we do will always focus on being distinctively Ferrari. The opportunity set of electrification and […]

Toyota Investors Want to Know Why it Has Been Slow on Embracing Battery EVs

Investors in leading vehicle manufacturer Toyota Motor Corp. (TYO: 7203) want to know why the company has been slow on embracing battery electric vehicles (BEVs). In its response, the Japanese car maker says it needs to offer a variety of choices to suit different environments and customers. During its annual general meeting, the company’s executives […]

Expect a Fierce Race Between VW and Tesla Says VW CEO

Herbert Diess, the chief executive officer of German based car manufacturer Volkswagen Group AG (ETR: VOW3) has declared a very tight race between the company and U.S based electric vehicle manufacturer Tesla Inc. (TSLA). According to Diess, Tesla works at twice the EV industry pace in many processes but it still ness to increase highly […]

Google Backed ShareChat Raises $300 Million From its Recent Financing Round

India based social media and social networking service ShareChat announced Google’s parent company Alphabet Inc. (GOOGL), Singapore’s Temasek Holdings and media company Times Group, have invested an additional $300 million in a recently concluded financing round which left the company sitting on a $5 billion market valuation. In recent times Google has been showing confidence […]

Rivian’s Executive In Charge of Manufacturing Set to Leave

Charly Mwangi, the head of manufacturing processes at electric vehicle manufacturer Rivian Automotive Inc. (RIVN) is set to leave the company. This development comes immediately after the arrival of Frank Klein, who will be taking over as the head of operations starting from June, he will also oversee the oversee production, supply chain and manufacturing […]

Sony to Scale Up Production of PS5 Amid Supply Chain Disruptions

Sony Group Corp. (TYO: 6758) will be increasing production of its PlayStation 5 console amid supply chain disruptions attributable to computer chip shortage and COVID-19 lockdows. In addition, the company will also be expanding its games platform to capture more tiles on its PC and mobile versions. According to the company’s data, the PS5 has […]

Toyota to Slash Global Production by Over 100,000 Come June

Leading car manufacturer Toyota Motor Corp. (TYO: 7203) has revealed that it will be slashing its global production by 100,000 to roughly 850,000 vehicles in June due to the prolonged global shortage of computer chip which has disrupted normal production activities especially in the car industry. The company made this announcement on May 24, it […]

BMW Considering Energy Investments to Cut Off Dependency on Natural Gas

German based manufacturer of luxury cars and motorcycles BMW AG (ETR: BMW) is looking into making new investments in solar, geothermal and hydrogen energy aiming to reduce its dependency on natural gas. This development was revealed by the company’s managing director and board member Milan Nedeljkovic, on May 23 as he further warned that a […]

Apple Seeking to Ramp Up Production Outside China

American technology company specializing in consumer electronics, software and online services Apple Inc. (AAPL) has informed some of its contract manufacturers that it seeks to scale up production outside China. This development was first published on the Wall Street Journal which claimed to have sourced the information from sources with direct involvement in the matter. […]

Renault Unveils Hydrogen Fuel Cell Powered Prototype SUV

France based vehicle manufacturer Renault SA (EPA: RNO) unveiled hydrogen-powered prototype sport utility vehicle (SUV) as it seeks to catch up with its peers in the automobile industry who have been competing to produce environmental friendly vehicles. The SUV is dubbed ‘Scenic Vision’ and the company said it will be commercially available staring from 2030 […]