The battery arm of Japan’s Panasonic will need to build four more factories to reach its target for a sharp boost in annual capacity of batteries for electric vehicles by 2031, its technology chief told Reuters. The comments by Shoichiro Watanabe of Panasonic Energy are the Tesla supplier’s first clear indication of the number of additional factories […]
Apple Inc became the first company in the world to reach a market value of $3 trillion, buoyed by hopes over its expansion in new markets coupled with expectations of a more moderate approach to interest rate hikes by the Federal Reserve. The iPhone maker’s advance was among the most eye catching in a month marked by investor […]
Kentucky is requiring that electric vehicle charging companies include Tesla’s plug if they want to be part of a state program to electrify highways using federal dollars, according to documents reviewed by Reuters. Kentucky’s plan went into effect on Friday, making it the first state to mandate Tesla’s charging technology, although Texas and Washington states previously shared such plans […]
Turmoil at Twitter following new limits to the amount of posts users can see appears to be driving a surge in activity at Mastodon, a German rival that prides itself on its decentralised, user-driven structure. “Looks like Mastodon’s active user base has increased by 110K (110,000) over the last day. Not bad,” Eugen Rochko, creator […]
Tesla shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk’s plan of boosting volumes through discounts was working. The leading U.S. manufacturer of electric vehicles was set to increase its market capitalization by around $50 billion to $900 billion, based on early trading in its shares. At $277, the stock […]
– Rivian Automotive on Monday beat Wall Street expectations for quarterly deliveries on stable demand for its electric vehicles, sending its shares up nearly 9% in premarket trading. The company, which has been struggling with supply chain hurdles, reiterated its annual production target of 50,000 units. The Irvine, California-based startup, which makes R1T pickup trucks and […]
Taiwanese chipmaker TSMC said on Thursday it is sending more workers from Taiwan to the U.S. state of Arizona to help build a massive $40 billion factory to ensure its “fast ramp up”. The first Arizona chip fabrication facility, or fab, is scheduled to be operational by 2024. A second facility nearby that is expected to make 3 […]
Salesforce will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence. The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018. The new investment will be seen […]
Apple’s stock climbed to a record high close on Wednesday and was on the cusp of a $3 trillion market capitalization. The iPhone maker’s stock rose 0.6% to end the day at $189.25, putting Apple’s market value at $2.98 trillion, according to Refinitiv data. It was the second straight record high close for Apple’s shares. Apple […]
Geopolitics and the national security concerns of some countries are threatening the globalisation of the world’s chip industry and its future growth, the chairman and acting CEO of memory chipmaker Yangtze Memory Technologies (YMTC) said on Thursday. Chen Nanxiang said in a speech at the opening ceremony of the Semicon China conference in Shanghai that […]
