Magna to Build Modular Electric Vehicle With Israeli Startup REE
Ed Ludlow and Gabrielle Coppola, Bloomberg News Electric vehicle charging points at Gridserve s new electric forecourt in Braintree, U.K., on Tuesday, Dec. 15, 2020. The first all-electric auto service station opened in Britain early this month as drivers increasingly avoid cars fueled by gasoline and diesel. Photographer: Chris Ratcliffe/Bloomberg , Bloomberg
(Bloomberg) Magna International Inc. will develop a modular electric vehicle with Israeli startup REE Automotive, helping the Canadian auto supplier and contract manufacturer muscle further into a growing field of EV players.
The companies agreed to jointly design, engineer and build the EVs using REEâs platform, the skateboard-like base that supports different vehicle designs on top. The EVs can be built to the exact specifications of âglobal technology companies and e-mobility playersâ whi
2021/04/07 16:47 LG smartphone (Pixabay photo) LG smartphone (Pixabay photo) TAIPEI (Taiwan News) South Korea s LG Electronics Inc. will close its mobile phone business after years of struggling to compete against the likes of Apple, Samsung, and Chinese rivals. In a statement on Monday (April 5), the Seoul-based company announced that it would completely withdraw from the global smartphone business in July amid declining shipments and mounting losses. The move is set to make it the first major device manufacturer to bow out of the market. With its global market share having shrunk to just 2 percent in 2020, LG described the closure of its mobile division as a strategic decision and said it will focus on other core areas such as vehicle components and robotics instead. It also explained that its withdrawal from smartphones could further strengthen its competitiveness in the long term.
LG Electronics set to exit smartphone business 06 Apr 2021 / 09:32 H. LG Electronics says dropping out of the fiercely competitive mobile sector will allow it to focus on growth areas such as electric vehicle components, connected devices and smart homes, – REUTERSPIX
SEOUL:
South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market.
Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge.