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.
Power generation using wind energy has been on the rise for the past few years, particularly in offshore locations of North America, Europe, and Asia Pacific. The rise of offshore wind energy generation is attributed to the better yields due to the high offshore wind speed. A turbine in 15-mph wind speed can generate double as much energy as a turbine in 12-mph wind speed can. Offshore wind speeds are steadier than on land wind speeds because of the large open spaces at sea.
Maruti Suzuki – an Indian car manufacturer giant, recently announced to phase out production of diesel cars by next year i.e. April 2020. This announcement from Maruti Suzuki is in sync with the implementation of BS6 norms in India and mirrors emerging global trends. The company’s decision is anticipated to be majorly driven by high cost of upgrading diesel engines to BS6 norms. However, to fill this void, the company aims to shift its focus towards hybrid technology driven vehicles and compressed natural gas (CNG) vehicles.