A joint battery venture of Toyota Motor Corp and Panasonic Corp aims to boost efficiency of development and production processes by 10 times to better compete with larger Chinese rivals, its chief said on Tuesday. The venture, Prime Planet Energy & Solutions Inc, is now the world's largest supplier of batteries for hybrid vehicles, and was created in April by pooling part of the battery-related equipment and engineers of the two firms. Prime Planet is moving to standardise battery designs and helping streamline operations of materials suppliers, its president, Hiroaki Koda, told a news conference.
Big Tech has been this year's most prominent market drivers, and its grandiose 2020 returns are being put to the test once again
Tesla (TSLA) manages to deliver profits for the fifth straight quarter. General Motors' (GM) $2-billion EV investment plan and Harley-Davidson's (HOG) LiveWire recall also make headlines.