Daimler AG, the parent company of premium carmaker Mercedes-Benz, is reportedly planning to invest USD 47 billion in research & development to better compete with Tesla Inc. in the all-electric car market.
According to reliable sources, the German automotive giant will build eight battery plants to increase its electric vehicle production capabilities. Four of these plants will be set up in Europe, while one will be in the U.S.
This news comes just a week after the European Union proposed a ban on sales of new diesel and petrol cars f
The European Medicines Agency, the European Union watchdog for medicinal products, has reportedly announced that it will begin evaluating preliminary data supporting a coronavirus vaccine developed by French multinational pharmaceutical firm, Sanofi S.A.
With this new announcement, France has officially re-entered the global race for an effective COVID-19 vaccine.
According to reports, France's expectations of producing a functional vaccine were dashed towards the end of 2020 when Sanofi revealed that its original vaccine candidate fa
A fast-spreading wildfire near the Lake Tahoe region of California, has reportedly crossed a highway, forcing further evacuations and the cancellation of a major bike race event.
According to the Humboldt-Toiyabe National Forest, the Tamarack Fire, which is located just south of Lake Tahoe, was 0% under control as of Sunday afternoon. The National Forest Service Officials stated that approximately 517 rescue personnel were trying to put out the fire.
The fire has now spread to 18,000 acres. It is the latest wildfire to ravage the West in
Inshorts has reached a valuation of USD 170 million following the recent fundraising.
The platform has over 10 million active users per month.
Online news aggregator, Inshorts has reportedly secured USD 60 million in a funding round led by Vy Capital along with its existing investors.
The firm’s total valuation is now around USD 170 million. The company will use the fresh capital to expand its tech infrastructure, enhance content offerings
Plans of establishing a mission critical electric car battery manufacturing plant in Coventry have reportedly been expedited in a bid to keep automotive production at the West Midlands’s core.
According to the credible sources, the Coventry city council has submitted a blueprint for a gigafactory of 5.7 million square feet. The manufacturing facility is expected to create around 6,000 new jobs, in collaboration with Coventry airport where the factory would be based.
The joint venture had first unveiled its plans in February with the
The European Commission recently announced to have penalized USD 1 billion on major German car manufacturers BMW and Volkswagen Group for colluding with Daimler to prevent the development of sustainable technology which could have quelled harmful emissions from their vehicles.
The trio along with other automakers such as Porsche and Audi had breached EU antitrust rules by conspiring on technical aspects of nitrogen oxide cleaning.
In this context, Margrethe Vestager, EU Commission's top antitrust official said that the 5 automak
AirAsia Group, a budget air carrier from Malaysia, has reportedly announced that it will reportedly acquire the Thai operations of Indonesian ride-hailing and payments startup, Gojek, through a $50 million deal. The transaction will be done through a stock swap, in which AirAsia will grant Gojek a 4.76% stake in its lifestyle platform.
According to reports, Gojek will sell its Thailand business to AirAsia in exchange for $50 million worth’ of shares in AirAsia SuperApp. This will be valuing the overall division at about $1 billion, which is more than the pandemic-affec
The latest snapshot of the UK construction industry has reportedly shown that while the market is witnessing the strongest growth it has in more than 25 years, the acute bottlenecks it is currently experiencing in its supply chain could severely bring down growth prospects.
As per reliable reports, as the nation’s economy came out from the COVID-19 lockdown, it saw significant a spike in housing construction along with a notable pick-up in other construction activity in general.
However, the rise in the index of construction purchas
Bugatti, the renowned French high-performance automobile manufacturer, and Rimac Automobili, a Croatian carmaker best known for its electric super cars, have reportedly confirmed their long-mooted collaboration.
According to reports, the two hypercar manufacturers have teamed up to establish Bugatti Rimac LLC, a new entity. This new joint venture would supposedly combine Rimac's experience in high-output electric drivetrains and Bugatti's long heritage and expertise in the hypercar sector.
The new company, Bugatti Rimac LLC., is o
