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German car manufacturer Volkswagen announced plans to increase investment in the development of new technologies by 10 billion euros by the end of 2023. The total investment in this area will be 44 billion euros, or about a third of Volkswagen’s total capital expenditures. A significant amount will be invested in the development of new models of electric vehicles. The plan assumes that in 2025 the concern will produce 50 electric cars. Investments will also be directed to the purchase of real estate, the construction of factories and the modernization of already existing enterprises. Nevertheless, total capital expenditures will be reduced by 6% of revenue by 2020, the German concern reported.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises ...
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