Lyft sells autonomous vehicle unit to Toyota for $550m in pursuit of profitability
Charles AbuedeApril 28, 2021
Charles Abuede Lyft, a ride-hailing company has sold off its autonomous vehicle unit to Toyota’s Woven Planet Holdings for $550 million. The transaction which is expected to be completed within the third quarter of 2021 will lift off the burden of costly annual expense from the ride-hailing company’s budget as it also ends its […]
New solid-state battery tech promises 500-mile range EV
Businessam StaffMarch 15, 2020
One of the latest entrants in the heated race for higher-performance battery pack technology is a new type of solid-state battery with high energy density, half the size of a typical lithium-ion battery, and the potential to make the 500-mile range possible. Researchers from the Samsung Advanced Institute of Technology (SAIT) and the Samsung R&D […]
BMW and Great Wall Motor to build all-electric mini cars in China
Businessam StaffNovember 29, 2019
The BMW Group, together with China’s Great Wall Motor, is to construct a plant that will produce future fully-electric models of the famous mini car brand. The facility’s construction phase is slated to take place between 2020 and 2022, and it will be located in the city of Zhangjiagang, Jiangsu Province, the BMW Group said […]
NCC moves to criminalise sale of pre-registered sim cards
Businessam StaffApril 2, 2019
The Nigerian Communications Commission (NCC), says it is working with the National Assembly to criminalise mobile phones sim card infractions. Efosa Idehen, the director, compliance, monitoring and enforcement of NCC, made this known on Tuesday in Enugu during a regional sensitisation workshop with stakeholders. The workshop was organised to address the dangers of dealing on […]
Telecoms subscribers rose to 172.8 million –NBS
Businessam StaffMarch 12, 2019
The number of active voice subscribers in the telecoms sector rose to 172.82 million as of the end of the fourth quarter of 2018, the data obtained from the National Bureau of Statistics revealed. The 172.82 million telecoms subscribers, according to the NBS, represent an increase of about 10.79 million when compared to the 162.03 […]
Nissan luxury automotive brand reveals new tech, Infiniti gas-engine
Businessam StaffNovember 22, 2017
Nissan luxury brand Infiniti is claiming a breakthrough in engine technology that will allow for variable compression for the first time in a production vehicle. The technology provides more power and better fuel efficiency by raising and lowering pistons depending on driving conditions. Currently, engine pistons move at a constant distance as they go up […]
Volvo in deal to supply Uber with self-driving taxis by 2019
Bukola OdufadeNovember 20, 2017
Volvo Cars disclosed Monday a deal with Uber Technologies Inc. to supply the cab hailing company with a fleet of 24,000 self-driving taxis beginning in 2019, one of the first and biggest commercial orders for such vehicles. The deal between Volvo, owned by China’s Zhejiang Geely Holding Group Co., and Uber is a framework agreement […]
Coffee wastes to help power London buses
Businessam StaffNovember 20, 2017
Waste coffee grounds would be used to help fuel some of London’s buses, Royal Dutch Shell and clean Technology company, Bio-Bean said on Monday. A new biofuel, which contains part coffee oil, is being added to the London bus fuel supply chain where it can be used without the need for modification, the companies said […]
Electric car boom drives rush to mining’s $90 billion hub
Businessam StaffAugust 7, 2017
A scramble by the lithium market’s biggest players to tie up a supply of the high-tech metal is gathering pace in the 170-year-old heartland of Australia’s $90 billion mining industry. Rising Chinese demand for lithium-ion batteries needed for electric vehicles and energy storage is driving significant price gains and an asset boom in Australia, already the world’s largest lithium producer. The fast-developing hub is […]
Toyota’s game plan features robots, M&A, self-driving cars
Businessam StaffAugust 4, 2017
Toyota Motor Corp. agreed to buy a stake in Mazda Motor Corp. and jointly build a $1.6 billion plant in the U.S. Asia’s largest automaker will also invest more in areas like self-driving cars to stay relevant in an industry upended by technological changes. As new rivals emerge and cars become autonomous and connected, Toyota will […]