Electronics

Ford To Build $3.5B Electric Vehicle Battery Plant In Michigan

Published

2 years ago

2023-02-13

DETROIT, MI — Ford Motor Company wants to build a factory in Michigan that will cost $3.5 billion and employ at least 2,500 people. This factory will make cheaper batteries for electric cars, both new and old.

The plant, which would be built on industrial development land about 100 miles (160 kilometers) west of Detroit, would begin producing batteries in 2026. According to Ford, it would produce 35 gigatonnes of batteries per year, enough to power 400,000 vehicles.

The factory near Marshall would produce lithium-iron-phosphate batteries, which are less expensive than the current nickel-cobalt-manganese chemistry used in many EV batteries.

Customers could then choose between a battery with a lower range and a lower cost and a battery with a higher range and power. Prices have yet to be determined by the company.

“The goal here is to make EVs more affordable and accessible to customers,” said Marin Gjaja, Ford’s electric vehicle chief marketing officer.

Ford Will Contact Out Some Of The Work And Machinery To Chinese companies.

According to Ford, the factory would be owned and operated by a wholly owned subsidiary. However, Contemporary Amperex Technology Co. Limited, or CATL, a Chinese company known for its lithium-iron-phosphate expertise, would provide technology, some equipment, and workers.

The announcement comes at a time when relations between the United States and China are strained, and the Biden administration is offering tax breaks to businesses that establish a U.S. supply chain for electric vehicle batteries. To qualify for the full $7,500 per vehicle tax credit, EV batteries cannot contain metals or components from China.

Ford hopes that the structure of the plant will keep people from saying bad things about spending state tax incentives on a joint-venture factory that a Chinese company will partly own. Virginia dropped out of the race for the same Ford plant last month after Gov. Glenn Youngkin described it as a “front” for the Chinese Communist Party that would raise national security concerns. At the time, Virginia had not offered Ford any incentives.

Because the vehicles are manufactured in North America, the company expects to take advantage of U.S. factory tax credits, with buyers initially receiving at least $3,750 in tax credits. Gjaja stated that depending on the source of battery minerals, they could receive the full $7,500 credit over time.

Lithium-iron-phosphate batteries would be used in standard-range Ford EVs. For example, the cheapest Mustang Mach-E electric SUV would have an LFP battery and be able to travel 247 miles per charge. The long-range Mach-E will have a nickel-cobalt-manganese chemistry that will allow it to travel 310 miles per charge.

The New Plant Was Unveiled At A Fund Meeting

The plant was unveiled Monday at a Michigan Strategic Fund meeting, which approved a large tax incentive package for the project near Interstates 94 and 69.

Ford’s director of economic development, Gabby Bruno, stated that “there is no lack of competition for this project.” She said that Michigan “competed against numerous states and countries” to secure the investment.

The Ford plant received approximately $210 million from Michigan’s Strategic Outreach and Attraction Reserve Fund, or SOAR, which was established to attract industry and jobs to the state. However, the total value of the incentive package was not disclosed.

Since its inception in December 2021, the SOAR Fund has received nearly $1.8 billion from the state’s general fund.

A tax-relief bill passed by the Michigan House last week could send up to $1.5 billion to the SOAR Fund over three fiscal years, in addition to the $800 million one-time deposit outlined by Gov. Gretchen Whitmer in her budget proposal last week.

Republicans have heavily criticized the tax-relief bill, which still needs to be approved by the state Senate, where Democrats hold a two-seat majority, for giving too little to taxpayers and too much to large corporations.

SOURCE – (AP)

Electronics

Dyson To Axe Around 1,000 Jobs In Britain

Published

6 months ago

2024-07-09

Kiara Grace

Dyson, a vacuum cleaner company, will slash approximately 1,000 positions in Britain as part of a global restructuring.

Dyson | NY Times Image

Dyson To Axe Around 1,000 Jobs In Britain

James Dyson, the inventor of the bagless cleaner, founded the company, which employs 3,500 people in Britain, including at its R&D facility in Malmesbury, West England.

On Tuesday, Chief Executive Hanno Kirner stated, “We have grown quickly and, like all companies, we review our global structures on a regular basis to ensure we are prepared for the future.” As a result, we are suggesting organizational modifications that may lead to redundancy.

Dyson | Joe Graham Image

Dyson To Axe Around 1,000 Jobs In Britain

“Dyson works in highly competitive global marketplaces where innovation and change are fast. We understand that we must always be entrepreneurial and adaptable – characteristics that Dyson has long valued.

SOURCE | AP

Electronics

Thousands Of People Are Waiting To Watch The GTA 6 Trailer 24 Hours Before Launch

Published

1 year ago

2023-12-04

Kiara Grace

GTA 6 ANNOUNCEMENT: Will the Grand Theft Auto 6 trailer smash viewing records? Given the huge interest even now, 24 hours before it’s scheduled to go live, it appears feasible.

Rockstar Games has released a video premiere for “Trailer 1” on YouTube, which includes a countdown to the game’s release on December 5 at 6 a.m. Pacific / 9 a.m. Eastern / 2 p.m. UK.

However, astute watchers observed the GTA 6 Trailer 1 length was released to expose a YouTube flaw. View the mobile video preview while unsubscribing from the Rockstar Games channel using the YouTube app’s search. Notice the “upcoming” tag on the bottom right; the runtime should appear over it.

There might be some spoilers ahead!

Tens Of Thousands Of People Are Already Waiting To Watch The GTA 6 Trailer

The GTA 6 Trailer 1 lasts one minute and 31 seconds. That should give you plenty of time to look at the game. We’ll even get a release date and platform information.

Surprisingly, tens of thousands have already lined up to watch Trailer 1. At the time of writing, about 24 hours before launch, 43,172 individuals were waiting to witness what could be the largest video game trailer of all time.

If you want to join in on the fun, roughly 2,000 people are watching IGN’s own GTA 6 trailer countdown and actively chatting right now.

When Rockstar announced a December release date for the GTA 6 trailer in November, it added, “We are very excited to let you know that in early December, we will release the first trailer for the next Grand Theft Auto.” We look forward to sharing these experiences with you all for many years.

“We have had the opportunity to create games we are truly passionate about thanks to the incredible support of our players worldwide — none of this would be possible without you, and we are so grateful to all of you for sharing this journey with us.”

Tens Of Thousands Of People Are Already Waiting To Watch The GTA 6 Trailer

“In 1998, Rockstar Games was founded on the idea that video games could come to be as essential to culture as any other form of entertainment, and we hope that we have created games you love in our efforts to be part of that evolution.”With anticipation at an all-time high, IGN reports that Rockstar appears to have revealed the GTA 6 Trailer 1 release date on a GTA Online T-shirt sold nearly a year ago.

GTA 6 has been rumored since the release of Grand Theft Auto 5 a little more than a decade ago. It was mentioned in passing in a 2020 Kotaku article on Rockstar’s efforts to combat crunch culture at the company, and it was confirmed in a press release in 2022, with the studio stating that development was “well underway.” Later that year, in-development footage from the game was leaked in a large breach, leading to the arrest of a British teenage hacker in connection with the crime.

Since early in 2023, when publisher Take-Two Interactive expected large financial gains in that fiscal year that would be difficult to achieve without the boost from the enormously profitable series, a release window between April 2024 and March 2025 has been speculated.

Tens Of Thousands Of People Are Already Waiting To Watch The GTA 6 Trailer

“GTA 6” is the next installment in the Grand Theft Auto series. Rockstar Games are developing it, and it is highly anticipated by gamers all around the world. The game is expected to have a large open environment, intense gameplay, and cutting-edge graphics.

While there are few specifics about the game, rumors say it will be set in a fictionalized depiction of a modern-day metropolis. “GTA 6” has garnered great enthusiasm and intrigue among fans and the gaming world as one of the most anticipated releases in the gaming industry.

SOURCE (IGN)

Electronics

The $7.9 Billion Lawsuit Against Sony For PlayStation Store Prices Doesn’t Make Sense

Published

1 year ago

2023-11-22

Kiara Grace

While that makes for a catchy headline, I’m left scratching my head, trying to figure out what a very expensive lawsuit against Sony for PlayStation Store prices is trying to show.

Sony was sued “on behalf” of 9 million customers in the United Kingdom who purchased games from the PlayStation store last year. A consumer advocate named Alex Neill has filed a lawsuit against Sony, claiming that the customers are entitled to $7.9 billion.

The assertion is similar to what we’ve heard recently from Epic in its struggle against Apple and Google’s app stores, which take a 30% share and don’t allow other retailers on their platforms. Almost the same thing is being said here. Sony charges developers and publishers a 30% share, claiming users have paid higher costs.

According to Sony, the complaint is “flawed from start to finish.” However, a recent development indicates that the case will not be dismissed, and Sony will have to confront the lawsuit.

The $7.9 Billion Lawsuit Against Sony For PlayStation Store Prices Doesn’t Make Sense

Last year, Alex Neill held a Reddit AMA in which all of the case’s glaring faults were exposed, resulting in non-stop roasting and few responses from Neill.

First, there is no proof that Sony’s 30% cut harms consumers, given that the cost is passed on to developers and publishers. This might make sense if Sony titles were 30% more expensive than competitors, but pricing parity throughout the industry, including with rivals like Xbox, demonstrates that this is different.

This may be viewed as a broader industry issue, but the company is singled out here. And anti-competitive rules have nothing to do with controlling how much Sony can take from publishers. Furthermore, it is ultimately up to the publishers to decide the pricing range for their games, which is why some titles are still $60 while others are now $70. Sony does not compel those prices.

We’ve also seen precedence for this, with Epic failing to obtain a verdict against Apple and its own 30% cut in the app store. And, according to industry standards, every company except Epic charges that 30% cut.

The $7.9 Billion Lawsuit Against Sony For PlayStation Store Prices Doesn’t Make Sense

And, with that reduced cut, Epic frequently has pricing that is equal to or the same as its competitors, with the cut being primarily an enticing point for publishers (this has had mixed effects, with the Epic Games Store still being profitable after several years).

Losing a $7.9 billion lawsuit would be a major setback for the company. That is more than double what it paid for Bungie and more than Microsoft paid for Bethesda. However, when it comes to the meat of this case, there is none. It consists of two slices of bread. Perhaps one slice.

The legal system and its understanding of the gaming sector can be unpredictable, but the litigation will proceed. However, in its current form, it is quite illogical.’

SOURCE – (forbes)