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Tesla losing a big partner. Panasonic said Wednesday it's withdrawing from its deal with Tesla to produce solar cells at a plant in Buffalo, New York. The Japanese electronics company said it'll stop production in May and exit the factory by September. Panasonic employs about 380 of the more than 1500 workers at the plant. It said Tesla hopes to hire many of those workers for its operations in Buffalo. The Wall Street Journal reports Tesla told New York officials it'll keep producing solar panels there. The move is another sign of Tesla's fraying relationship with its Japanese partner. Panasonic status as the electric vehicle maker's exclusive automotive battery supplier is ending, and Tesla is set to diversify its battery supplies with other Asian companies. Panasonic said it'll keep producing batteries with Tesla at its joint venture plant in Nevada. Panasonic's exit from the Buffalo factory also increases uncertainty over Tesla's solar business. It had initially planned to sell the cells it makes there to Tesla for the so-called Solar Roof that resembles regular roof tiles. But it ships most of those cells to overseas customers because demand from Tesla has been low. Tesla has been scaling back its solar business since it bought it three years ago. Tesla shares lost ground at the open Wednesday despite the bounce in the broader market.
Tech giants including Google are free to censor content as they wish, a US court ruled Wednesday, in a landmark freedom-of-speech case concerning private internet platforms. The decision by San Francisco's Ninth Circuit appeals court rejected a conservative news outlet's claims that YouTube had breached the First Amendment by censoring its content. The US Constitution's First Amendment prohibits the government, but not private parties, from censoring free speech.
If you have been talking anything about the coronavirus, then this is the episode for you. We touch on every facet of the subject and give you a deep dive into how investors could be navigating this volatile market.
Google persuaded a federal appeals court on Wednesday to reject claims that YouTube illegally censors conservative content. In a 3-0 decision that could apply to platforms such as Facebook , the 9th U.S. Circuit Court of Appeals in Seattle found that YouTube was not a public forum subject to First Amendment scrutiny by judges. It upheld the dismissal of a lawsuit against Google and YouTube by Prager University, a conservative nonprofit run by radio talk show host Dennis Prager.
Google said Wednesday it would invest more than $10 billion in US offices and data centers in 2020, including its new campus planned for New York City and projects in 10 other states. "These investments will create thousands of jobs -- including roles within Google, construction jobs in data centers and renewable energy facilities, and opportunities in local businesses in surrounding towns and communities," said a blog post by Sundar Pichai, chief executive of Google parent Alphabet. One of the big projects will be the opening of the Hudson Square campus in New York City, where Google has the capacity to double its workforce by 2028.
"These investments will create thousands of jobs - including roles within Google, construction jobs in data centers and renewable energy facilities, and opportunities in local businesses in surrounding towns and communities," Chief Executive Officer Sundar Pichai said https://www.blog.google/inside-google/company-announcements/continuing-grow-invest-across-america-2020 in a blog post. Last year, the company said it would spend over $13 billion on data centers and offices in the United States in 2019.
Adient (ADNT) anticipates equity income to be down $175-$185 million in 2020 compared with the prior estimate of $235-$245 million amid the Coronavirus outbreak.
Amid coronavirus, the China auto industry has taken a severe beating of late, with shutdown of factories, dealerships with less customer traffic, supply-chain disruption and annual motor show delay.
Ford Motor Co's incoming chief operating officer outlined his priorities for the company's turnaround on Wednesday, including cost cuts and more efficient new-vehicle launches in a year in which it will introduce a redesigned F-150 full-sized pickup truck. Other key plans include speeding up Ford's push in vehicle connectivity and its commercial vehicle business, strategy chief Jim Farley, who begins his role as Ford COO on March 1 after being appointed earlier this month, said at a Wolfe Research conference in New York. Ford has acknowledged that mistakes proved costly in its introduction of the redesigned Explorer SUV.
TOKYO/LOS ANGELES (Reuters) - Panasonic Corp said it would exit solar cell production at Tesla Inc's New York plant, the latest sign of strain in a partnership where Panasonic's status as the U.S. electric vehicle (EV) maker's exclusive battery supplier is ending. The move increases uncertainty over Tesla's solar business which is already under scrutiny, having been drastically scaled back since the U.S. firm bought it for $2.6 billion in 2016. Tesla has informed New York that Panasonic's withdrawal "has no bearing on Tesla's current operations", the state said in a statement.
Tesla’s testy relationship with Panasonic just grew more strained. The US electric vehicle and clean energy company and the Japanese electronics corporation are scrapping their partnership to produce solar panels for roofs at the Gigafactory 2 in upstate New York, according to this exclusive in the Nikkei Asian Review. The two companies’ tie-up on electric car batteries also appears to be at a crossroads.
Panasonic is pulling out of its partnership with Tesla to produce solar panels at a factory in New York state, the Japanese electronics maker said Wednesday. Panasonic's production at the factory in Buffalo will end by May, with an exit by September, it said in a statement. The decision is to streamline the company's global solar energy operations, it said.
While the screw has long been turning on the sector’s working methods, the recent assault on cookies by privacy regulators and browsers such as Apple’s Safari and Google’s Chrome has been an unforgiving lesson in business upheaval.
The planned digital tax, a new bill that could impact encryption, developments on U.S. Google's antitrust case and Amazon's challenge of the JEDI contract and other news is covered in this article.
NTSB board members questioned Tesla's design of its semi-automated driving assistance system and condemned the National Highway Traffic Safety Administration (NHTSA) for a "hands-off approach" to regulating the increasingly popular systems. NHTSA has "taken a nonregulatory approach to automated vehicle safety" and should "complete a further evaluation of the Tesla Autopilot system to ensure the deployed technology does not pose an unreasonable safety risk," NTSB said.
Tesla’s partially automated driving system steered an electric SUV into a concrete barrier on a Silicon Valley freeway because it was operating under conditions it couldn't handle and because the driver likely was distracted by playing a game on his smartphone, the National Transportation Safety Board has found. The board made the determination Tuesday in the fatal crash, and provided nine new recommendations to prevent partially automated vehicle crashes in the future. Among the recommendations is for tech companies to design smartphones and other electronic devices so they don't operate if they are within a driver's reach, unless it's an emergency.
Next week FT Alphaville is filming a video for the FT on everyone’s favourite marmite electric car company: Tesla. This one FT Alphavillain will be answering user questions -- to the best of his ability ...
The National Transportation Safety Board will hold a public hearing on Tuesday to establish the probable cause of a fatal March 2018 Tesla Autopilot crash in California and will issue a series of safety recommendations, two people briefed on the matter said on Monday. The safety board is expected to issue recommendations to the National Highway Traffic Safety Administration (NHTSA), Tesla and a California transportation agency, the sources said. The NTSB issued recommendations after other Tesla Autopilot crashes and planned to reiterate some of the guidance.