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
To promote EVs in India on a larger scale, the Indian government in its Union budget today (5th July 2019) announced a reduction in GST from 12% to 5% for the electric vehicles sold in India. To make EVs more affordable for Indian consumers, the Indian government will also provide an additional income tax deduction of Rs. 1.5 lakh on the interest paid on the loans taken to purchase EVs.
In June 2019, the Boeing Company and Kitty Hawk Corporation entered into a strategic partnership to work on futuristic urban air mobility.
Sanyo Chemical Industries, Ltd. (Thailand) announced the expansion of its production facility for permanent antistatic agents, which is scheduled to operate from April 2021, with a view to meeting the rising demand from Thailand.