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Siemens signs deal to supply equipment to giant factories JV By Reuters

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© Reuters. FILE PHOTO: Visitors walk under a Siemens banner at the IFA International Consumer Technology Fair in Berlin, Germany on September 2, 2022. REUTERS/Lizzie Nessner

ZURICH (Reuters) – Siemens has signed an agreement with a joint venture between Stylantis, Mercedes-Benz and Total Energy to supply equipment and technology for electric car battery factories, the German engineering firm said on Thursday.

The joint venture – Automotive Cells – has a plan worth more than 7 billion euros ($6.79 billion) to build three gigawatt plants with a capacity of 40 gigawatt-hours each by 2030, to support increased production of electrified vehicles.

Gigafactories is a general term referring to facilities that produce batteries for electric vehicles on a large scale.

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Siemens said Siemens’ dual-digital technology will speed up the start-up of its ACC plants in Belle-Berclau-Dufferin, France, Kaiserslautern, Germany, and possibly Termoli in Italy.

Under the agreement, Siemens will become ACC’s preferred supplier of automation, digitalization and electrical technology.

The terms of the partnership, which is part of Siemens Xcelerator’s open digital platform launched earlier this year, were not disclosed.

The cloud-based platform, which will feature digital hardware, software and services, is part of Siemens’ ambition to grow its digital business by 10% annually from the 5.6 billion euros ($5.89 billion) generated in 2021.

Siemens will give ACC access to its suite of digital hardware and software, from production design to product design, and from product lifecycle management to energy management systems.

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“ACC is effectively using the full range of Xcelerator – from plant construction to production automation to construction services,” Siemens board member Cedric Nike told Reuters.

“Battery factories – along with semiconductors and in-house logistics – are among the super-cycles in which investments must be made regardless of the economy,” said the executive, who also leads Siemens’ digital industries division.

Siemens on Thursday also announced a deal with electric truck maker Volta to provide electric charging infrastructure to truck customers, to help with the transition to electrified vehicles.

(1 dollar = 1.0309 euros)

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.