Technology News

Northvolt will build a lithium processing plant with Portugal's Galp Energia with investments estimated at around 700 million euros ($789.6 million), as demand grows for lithium-ion batteries to power electric vehicles.

Vay raised $95 million from investors such as Kinnevik, Coatue and Eurazeo, as it planned to launch its first car-rental service in Hamburg next year.

The new venture, called DiPi Intelligent Mobility Co and located in Shenzhen, combines BYD's capabilities as an automaker with Momenta's experience in intelligent driving.

Companies including Ford Motor Co's Argo AI and General Motors Co's Cruise are competing for the billions of dollars in financing needed to automate driving through artificial intelligence software and expensive sensors.

The company makes silicon wafers for chip designers, such as Advanced Micro Devices and Broadcom Inc, that do not have their own fabrication plants, called fabs.

Waymo is among a small number of companies around the world that have billions of dollars in financing to develop self-driving cars and trucks.

"I would be shocked if we do not achieve full self-driving safer than human this year. I would be shocked," Elon Musk said.

Companies from electric automaker Tesla Inc to wafer fabrication equipment supplier Lam Research have warned again that supply chain issues, which crippled several industries, would continue to limit production this year.