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Subaru plans to spend JPY250bn (US$1.9bn) to build a dedicated electric vehicle (EV) factory in Japan and in-house (EV) battery manufacturing capacity over the next five years, according to reports in Japan citing a statement by the company. The automaker plans to build a new EV production line at its main vehicle assembly plant in Gunma prefecture at a cost of JPY100bn with completion scheduled for 2027. Japanese automakers lag behind in…

There is more pressure than usual on Google to deliver surprises at I/O 2022. The company is expected to unveil its Pixel Watch, along with a more budget-friendly Pixel 6A, plus the latest slew of new Android 13 software and new features. Who knows? Maybe we’ll see something else entirely. The stakes are high, as always, for the new stuff to be good, and I don’t really doubt Google’s ability to impress with these new products. It’s rare that Google doesn’t have at least a handful of announcements (including a few…

2022 Toyota Glanza. Image used for representation. (Image source: YouTube/Toyota)Toyota Kirloskar Motor (TKM) along with Toyota Kirloskar Auto Parts (TKAP) will put in Rs 4,100 crore while a related company Toyota Industries Engine India (TIEI) will pitch in with another Rs 700 crore.PTI Last Updated:May 08, 2022, 07:18 ISTFOLLOW US ON:Toyota group firms, including Toyota Kirloskar Motor, on Saturday, said they will invest about Rs 4,800 crore in Karnataka for local production of powertrain parts and other components of…

In a bid to strengthen US’s energy independence and reduce its reliance on nations like China, the Joe Biden government has announced $3.1 billion from the ‘Bipartisan Infrastructure Law’ to make more batteries and components in America, bolster domestic supply chains and create good-paying jobs.The US Department of Energy (DOE) also announced a separate $60 million to support second-life applications for batteries once used to power EVs, as well as new processes for recycling materials back into the battery supply…

Canadian Prime Minister Justin Trudeau announced a new federal investment in project funding for automaker Stellantis that will modernize assembly plants and increase the production of electric vehicles (EV).According to a statement from Trudeau’s office, the government is investing up to C$529 million ($423 million) into this project, reports Xinhua news agency.Ontario province is also supporting the project with an investment of up to C$513 million.“We’re building a world-class Canadian auto industry for generations to…

International semiconductor consortium ISMC will invest $3 billion (roughly Rs. 22,940 crore) in India's southern Karnataka state to set up a chip-making plant, the state government said on Sunday.ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel's Tower Semiconductor. US chip giant Intel has announced plans to acquire Tower.India's first semiconductor fabrication unit is expected to generate more than 1,500 direct jobs and 10,000 indirect jobs, the state's investment promotion division said…

Alphabet Inc's Google said on Wednesday it plans to invest about $9.5 billion (roughly Rs. 72,345 crores) across its US offices and data centres this year, up from $7 billion (roughly Rs. 53,307 crores) last year.Google said the investment will create at least 12,000 full-time jobs in 2022 and focus on data centres in several states including Nevada, Nebraska and Virginia.The company will open a new office in Atlanta this year, and expand its data centre in Storey County, Nevada, it added."It might seem counterintuitive…

Elon Musk is willing to invest between $10 billion (roughly Rs. 76,435 crore) and $15 billion (roughly Rs. 1,14,664 crore) of his own money to take Twitter private, the New York Post reported on Tuesday, citing two sources familiar with the matter.The billionaire, who is Twitter's second-biggest shareholder with a 9.1 percent stake, is planning to launch a tender offer in about 10 days and has tapped Morgan Stanley to raise another $10 billion in debt, according to the report.Musk, who is also Tesla Inc's chief executive,…