Reuters: Toyota Motor Corp. and Panasonic Corp. will open a joint venture for the production of batteries for electric vehicles. The enterprise will be launched in 2020, and it should become a competitor of the Chinese Contemporary Amperex Technology. Toyota will receive 51% of the new company, Panasonic - 49%. The company will provide Toyota’s partners in the field of electric cars with batteries. The companies agreed to create a joint project in 2017. Thanks to its discovery, Toyota will reach an annual sales plan for 1 million alternative-fuel vehicles by 2030. Panasonic, in turn, will gain a competitive advantage over Chinese Contemporary Amperex Technology. The launch of the joint venture will allow Panasonic to reduce its dependence on Tesla, which is considered the main consumer of electric cars. Tesla will open a new factory for the production of batteries, which will also affect the financial performance of Panasonic. The announcement of the opening of a new joint project has already stimulated the growth of Panasonic shares by 4%.
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...
On Monday, U.S. international banking giant Goldman Sachs (G.S.) said that it would resume negotiations with the Malaysian government this week to hammer out a multi-billion dollar financial settlement lost in a scandal at sovereign fund 1Malaysian ...
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s ...
June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting ...