BMW, the German luxury car manufacturer, has accelerated its vehicle electrification plans by introducing the Fifth Generation Architecture, as the company calls it. With the implementation of this architecture, BMW plans to deliver 25 electrified models on roads by 2023, which is 2 years earlier than the company had planned. According to BMW, more than half of these 25 new vehicles will be fully electric.
On 22nd July 2019, Joyn Bio (US) and NewLeaf Symbiotics (US) announced a long-term partnership valued up to USD 75 Million to offer innovative solutions and sustainability in the modern agriculture techniques, with a new class of microbes that would enhance the current crop protection system.
Traxens, an Internet of Things (IoT) company, has joined the French Smart Port in Med initiative as an associate partner, to support the digital transition of the Port of Marseille. Some key strategic objectives of this collaboration include ensuring the economic and environmental improvement of the port and its ecosystem, creating new job opportunities, strengthening the relationship between the port and the local community, and positioning the Port of Marseille as an innovative digital port in the Mediterranean.
DuPont (US), one of the largest players in the probiotics business, opened a new state-of-the-art probiotics fermentation unit in its New York facility on the 15th of July 2019. The company undertook this expansion to expand its probiotics capacity. The facility provides high-quality probiotics to cater to the demand from the dietary supplements and food & beverage industries.
On 26th June 2019, Apple acquired Drive.ai—a self-driving start-up—in a move that is expected to give a massive thrust to its autonomous vehicle technology. While the acquisition terms were not made public, it is believed that Apple acquired the struggling start-up for less than USD 77 million. The acquisition bolsters Apple’s autonomous vehicle initiative—Project Titan—and will help the smartphone giant to effectively compete with rivals such as Tesla and Waymo, which have a head start over the former.
Topics: Tesla and Waymo, autonomous vehicle technology, autonomous vehicles, Semi-Autonomous and Autonomous Vehicles, Start-Up Drive.AI, Apple’s Project Titan, acquisition bolsters Apple’s, Self-Driving Start-Up
In July 2019, Tesla CEO Elon Musk discussed the potential of electric airplanes. According to Musk, these planes could be viable in about five years.
Karro Food Group, a subsidiary of the UK-based CapVest Partners, is a meat processor that has agreed to acquire Young’s Seafood Ltd. with the aim to create a new multi-protein food group.
French specialty chemicals company, Arkema has completed the acquisition of ArrMaz, a global leader in specialty surfactants for crop nutrition, mining chemicals, and infrastructure.
Topics: Automotive and Transportation