USA> Germany based VW is set to invest $800 million adding 1000 jobs in Chattanooga, USA

VW logo VW is set to add 1000 jobs in Chattanooga, USA investing $800 million investment to make electric vehicles. The Chattanooga facility will be VW’s first electric vehicle manufacturing facility in North America. Expected to roll out electric vehicles in 2022, VW expects to sell 1 million by 2025. According to Volkswagen CEO Herbert Diess: “The U.S. is one of the More …

USA> Porsche, BMW i Ventures and InMotion Ventures. the venture capital division of Jaguar Land Rover is set to invest in USA based Urgent.ly on a financing round that amounted to $21 million

porsche logo Urgent.ly is an American company that is seeking to lead the global platform for mobility and roadside assistance is to set to receive an $21 million from international companies such as Porsche, BMW i Ventures and InMotion Ventures. the venture capital division of Jaguar Land Rover. Urgent.ly supports roadside assistance services in North America, Europe and Asia. Urgent.ly connects drivers, More …

POLAND> Germany based Mercedes- Benz is set to invest 200 million euros ($227.1 million) to produce electric batteries in Jawor, Poland and is set to add 300 jobs

Mercedes Benz logo Set to start producing electric batteries in Jawor, Poland, Mercedes- Benz, which is owned by Daimler AG is investing 200 million euros ($227.1 million) adding 300 jobs in Poland. According to Markus Schäfer, a member of the divisional board of management of Mercedes-Benz Cars: “We will electrify our complete portfolio by 2022 and will be able to offer various electrified alternatives More …

ISRAEL > US based Ford is set to develop a decision-making system for driving autonomous cars in Israel investing approximately $12 million

Ford_Motor_Company_Logo.svg Following the Israeli algorithmic solutions company Ford acquired two years ago, SAIPS, Ford is beginning to develop a decision- making system for driving autonomous cars in Israel. Decision making system is a major challenge for autonomous car developers as decisions must be made in fractions of seconds. Ford is planning to invest around $12 million for the system. SAIPS, the More …

SINGAPORE > Thailand based Kasikornbank is set to invest $50 million in Singapore based ride hailing company Grab

Kasikornbank logo Thailand based Kasikornbank is set to invest $50 million in Singapore based Grab. This makes Kasikornbank the largest investor in the Singapore technology startup’s ongoing fundraiser. Additionally, with the new investment Grab will also be able to launch its in- app GrabPay electronic wallet in Thailand. Launching in Thailand will be Grab’s sixth Southeast Asian market. Grab’s main competitors in More …

KENYA > Japan based Isuzu is set to open a service center in Nairobi, Kenya investing $654,330 (Sh100.7 million)

Isuzu Japan based Isuzu is set to open a service center in Nairobi, Kenya investing $654,330 (Sh100.7 million). This newly refurbished center in Nairobi is expected to cut down on shipment orders for vehicle parts from Dubai. Nairobi expansion is expected to provide services faster for consumers and will provide 21,000 different parts for their vehicles. According to Isuzu East Africa More …

LITHUANIA > Germany based Hella is set to open a new plant in Lithuania

Hella logo Hella is aiming to serve the rising demand for electronics component in the European market by opening a new plant in Kaunas Free Economic Zone in Lithuania. In the factory where currently 70 people are employed, Hella is focusing initially on lighting electronics which is later to be expanded to sensors, actuators and control units. The employees are expected to More …

USA > China based Triangle Tyre Co. is set to open its first manufacturing plant in the USA investing $580 million

triangle logo Triangle Tire USA,  a subsidiary of China based Triangle Tyre Co, is set to break into the U.S. automotive industry facing off industry giants such as Goodyear, Michelin, Continental and Bridgestone which accounted for 72 percent of 2017 U.S. and Canadian original equipment tire sales, according to Modern Tire Dealer, a news magazine that covers the tire industry. Triangle is based More …