China’s troubled Tsinghua Unigroup chip conglomerate is about to get an $800 million infusion from Taiwan’s Foxconn in the consumer electronics giant’s bid to expand its electric vehicle activity. Battery-powered cars generally require more semiconductors than those that run on gas, and analysts say Tsinghua Unigroup is attractive to Foxconn — which makes everything from iPhones to Xboxes — for its mobile chipset and memory expertise. In 2021, Foxconn secured a deal with U.S. automotive startup Fisker to jointly manufacture electric cars with automotive chips Foxconn plans to develop with Stellantis. Continue reading Taiwan’s Foxconn to Invest $800 Million in Chinese Chip Firm

Electric vehicle maker Rivian, which produced almost $12 billion in profit for Amazon last year, cratered in the January through March period, prompting the retail giant to record a $7.6 billion loss on the investment. Overall, Amazon posted a $3.8 billion quarterly loss, its first in seven years and a contrast to profit of $8.1 billion during the same period in 2021. A 7 percent increase in quarterly revenue marked the tech giant’s most anemic performance in 20 years, as consumers adopted post-pandemic habits and resumed in-store shopping. Continue reading Amazon’s $3.8 Billon Quarterly Loss Is Its First in Seven Years

Amazon had a merry Q4, doubling net income to $14.3 billion from $7.2 billion the prior year. While quarterly revenue of $137.4 billion was up 9 percent due largely to its “biggest-ever” Black Friday to Cyber Monday shopping weekend, the profit surge was the result of a pre-tax gain of $11.8 billion from its investment in Rivian. The electric car manufacturer completed an initial public offering in November. The Amazon Web Services cloud unit grew revenue 40 percent to $17.8 billion, more than $5 billion of it income. Total 2021 revenue was $469.8 billion, up 22 percent. Continue reading Amazon Profits Double While Q4 Operating Income Plunges

Tesla valuation shot up to $1 trillion on news that Hertz ordered 100,000 vehicles for delivery by the end of 2022. The purchase is anticipated to favorably affect Tesla consumer sales as rental drivers are able to essentially test-drive Tesla electric cars. Over the past year Tesla stock has more than doubled, and the $1 trillion valuation puts it in an elite class of companies including Apple, Microsoft, Amazon and Alphabet whose market caps exceed $1 trillion. Facebook in June crossed the $1 billion valuation mark only to fall below during September and October selloffs. Continue reading Tesla Value Pushes Past $1 Trillion with News of Hertz Order

Experts have made it clear that artificial intelligence will soon impact all industries, and at a CES panel on “AI — All Industry Integration,” moderated by Future PLC global editor-in-chief Bill Gannon, three experts teased out what that means for chatbots, computers, smartphones and automotive. All three noted some of the common challenges, including the need to change current business models, proactively provide mechanisms for users to guard their data and find ways to cope with the unforeseen going forward. Continue reading CES Panel Discusses the Industries That Are Integrating AI

Samsung Electronics has formed a $300 million Automotive Innovation Fund focused on technology for new cars. The South Korean electronics company previously showed interest in the automotive industry, spending $8 billion to buy auto parts supplier Harman International. According to Samsung, its first investment from the new fund — €75 million ($89 million) — was to partner with Austria-based TTTech, a company that protects the real-time computer systems used in smart vehicles. Audi is another major investor in TTTech. Continue reading Samsung Creates $300M Fund to Innovate Automotive Tech

China wants to become the most dominant nation in artificial intelligence, and it’s got three advantages that might help that become a reality. In addition to strong government support, which includes a willingness to share data about its citizens, China also has an immense number of engineers to write software and 751 million Internet users who can test out the work they do. As China seeks to gain market share, President Xi Jinping seeks to strengthen intellectual property laws to give its startups an advantage. Continue reading China Set to Toughen IP Laws in Pursuit of Tech Dominance

The California Department of Motor Vehicles issued permits to French auto company Valeo North America and the privately held Wheego Electric Cars to test a single autonomous vehicle with up to four operators on public roads. Another company receiving a permit was Cruise Automation, which was then acquired by General Motors for $1 billion. So far, Alphabet’s Google has driven 2 million miles in autonomous vehicles on public roads. Permits are a marker of which companies are moving forward in the new field. Continue reading Valeo, Wheego to Test Autonomous Cars on California Roads

Chinese tech company LeEco (formerly LeTV), has paid $2 billion for California television seller Vizio, which presently controls about 20 percent of the U.S. market. The Beijing-based company is often referred to as the Netflix of China, although it sells hardware devices such as TVs, set-top boxes, smartphones and electric cars in addition to its streaming services. With the acquisition, LeEco can now bring its services to the U.S. “Our strategy is to integrate our platform — including software and services — with devices,” said LeEco exec Winston Cheng. Continue reading LeEco Acquires Vizio to Bring its Streaming Services to U.S.

Troubled Japanese LCD manufacturer Sharp is in talks to sell to Taiwanese company Foxconn. According to Foxconn chairman Terry Gou, the two companies have cleared 90 percent of the obstacles to sealing a final deal. If the deal does go through, it will mark significantly new openness of Japanese companies to foreign suitors. Also wooing Sharp is Innovation Network Corp. of Japan (INCJ), a Japanese government-supported consortium that has already acquired the display businesses of Toshiba, Hitachi and Sony. Continue reading Sharp May Sell to Foxconn, Rather Than Japanese Consortium

Electric cars, autonomous cars and ride-sharing are all disruptors in the automotive industry, but General Motors, for one, is focusing on taking advantage of opportunities in changing times. The company just launched Maven, a program that aggregates its various car-sharing efforts, with a team of 40 GM staff and others from Google, Zipcar and Sidecar, with the goal of developing additional car-sharing services. First up is a car-sharing trial in Ann Arbor, Michigan, focusing on the university community. Continue reading GM Debuts Maven, Program for Several Car-Sharing Initiatives

When Apple chief executive Tim Cook and other senior executives visited BMW headquarters last year, to learn how the German car manufacturer makes its i3 electric car, rumors were rife that a partnership deal was in the works. When no announcement followed, many concluded that Apple was pursuing its own branded electric car. Now, industry insiders have come out with another twist in the story: Apple and BMW are still talking about their mutual interest in an intelligent electric car. Continue reading Apple, BMW Continue Conversations About Connected E-Car

Tesla recently unveiled its Tesla Energy system that will initially feature two products: the Powerwall, designed to power homes, and the Powerpack, for businesses and possibly public utilities. The Powerwall rechargeable lithium-ion battery will be available in 7 kWh and 10 kWh models, while the Powerpack will come in 100 kWh battery blocks with a reach of 10 Mwh and higher. Powerwalls have already been available to select customers, and Powerpacks will become available once Tesla’s Gigafactory goes online. Continue reading Elon Musk Wants to Power the World with New Battery System

Solace Power, a small Canadian startup, has developed a technology that wirelessly charges unmanned aerial vehicles (UAVs) while still in flight. The company has a standing partnership with Boeing and recently secured government funding from Industry Canada to help facilitate the technology for military drones. The technology, which could effectively eliminate the need to physically charge a drone while on land, works using energy transmitters that communicate to receivers attached to the UAVs. Continue reading Solace Power Develops Wireless Solution to Charging Drones