Nofar Energy expands further its collaboration with Tesla: the company reported today it had entered a second framework agreement with Tesla on purchasing battery stored power systems with a total capacity of 200 megawatts for $54 million. Under the agreement, Nofar will pay 5% of the consideration on the contract signing date and the balance […]
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Electric vehicle maker Nuro said Tuesday it had secured $600 million in funding from Google, Kroger and others to continue the development of its autonomous delivery vehicle service. The Silicon Valley robotics company has already made thousands of grocery deliveries with Kroger as a part of a 2018 partnership. “Demand for local deliveries is exploding,” […]
Elon Musk announced on Monday that Tesla has not signed a contract with Hertz, despite the rental car firm’s disclosure a week ago of a significant deal with the electric car manufacturer. Tesla shares jumped by 12.6 percent following the announcement of a massive order from Hertz of almost 100,000 vehicles on October 25, granting […]
Yahoo Inc. said Tuesday it has pulled out of China, citing an increasingly challenging operating environment. The withdrawal was largely symbolic, as many of the company’s services were already blocked by China’s digital censorship. But recent government moves to expand its control over tech companies generally, including its domestic giants, may have tipped the scales […]
ByteDance is planning to disjoin its global social media sensation, TikTok, into a solitary business unite, following an executive decision to break down the company into six entities, according to Reuters. Chief executive officer (CEO), Liang Rubo, has initiated plans to refurbish the technology enterprise into various parts, following founder Zhang Yiming’s decision to retire from […]
The chief executive of British bank Barclays stepped down Monday following a report by United Kingdom regulators into his past links with the late financier and sex offender Jeffrey Epstein. Jes Staley has previously said he “deeply regrets” his relationship with Epstein, who killed himself at a federal jail in New York in August 2019 […]
As he made history by becoming the first person to fly across New Zealand’s Cook Strait in an electric plane, Gary Freedman thought it only fitting that the first thing he saw when approaching the Wellington coastline was the rotating blade of a wind turbine producing renewable energy. Freedman’s 40-minute solo flight in the small […]
British lawmakers grilled Facebook on Thursday over how it handles online safety as European countries move to rein in the power of social media companies. Facebook’s head of safety said the tech giant supports regulation and has no business interest in providing people with an “unsafe experience.” Representatives from Google, Twitter and TikTok also answered […]
The global computer chip shortage cut into third-quarter profits at both Ford and crosstown rival General Motors, with both companies having to temporarily close factories, pinching supplies on dealer lots. Ford’s net income of $1.83 billion fell 23% from a year ago, while GM’s profit dropped 40% to $2.4 billion. High prices, mainly for the […]
Growth in Microsoft’s cloud computing business helped push its profit up 24% in the July-September quarter over the same time last year. The Redmond, Washington-based tech company on Tuesday reported quarterly profit of $17.2 billion, or $2.27 per share, beating Wall Street expectations of $2.08 per share. Microsoft profits have soared throughout the pandemic thanks […]