Tagged: Million

LG Sets Goal To Use Half Million Metric Tons Of Recycled Plastic

SEOUL, South Korea  — LG Electronics has set a goal to use almost 600,000 metric tons of recycled plastic by 2030 in a concerted effort to reduce greenhouse gas emissions in the value chain. The goal is a part of LG’s larger initiative to create a take-back ecosystem for electronic waste and increase the use of post-consumer recycled materials in its consumer electronics and home appliance products.

In 2020, LG used about 20,000 metric tons of recycled plastic in its products, which it plans to increase more than tenfold by 2025. While recycled plastic is currently used inside LG TVs,

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Inside Dyson’s $700 million quest to design an electric car

I’ve always been horrified, even as a child, by the clouds of black smoke emerging from the back of vehicles, especially diesels. As a pedestrian, a cyclist, or in a car following directly in the slipstream of a diesel vehicle, you breathe in a huge volume of this filth. In Britain alone, 34,000 people a year die from inhaling exhaust fumes.

At Dyson, we were developing more efficient batteries by 2014. We had been working on high-performance electric motors for some time. We also had research programs on air purifiers and heaters. We were pursuing a range of new ideas

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REE Automotive Awarded $17 USD Million Funding from the UK

  • Funding will allow REE to advance commercial production of its breakthrough REEcorner™ technology and ultra-modular EV platforms
  • Project to help accelerate industry shift towards net zero-emissions with REE’s technology designed to support extensive range of electric vehicles

TEL AVIV, Israel, Aug. 19, 2021 (GLOBE NEWSWIRE) — REE Automotive Ltd. (NASDAQ: “REE”), an innovator in e-mobility which recently started to trade on Nasdaq, today announced that its REEcorner™ technology was awarded $17 million USD funding from the UK government as part of a $57 USD million investment, coordinated through the Advanced Propulsion Centre (APC). The investment is in line with the

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Invygo raises $1.9 million to grow its car subscription platform in UAE & Saudi

Dubai-headquartered car subscription platform Invygo raised $1.9 million in a pre-Series A round from Signal Peak Ventures, JS Group, Wealth Well, Knollwood Investment Advisory, Saudi Arabia’s Dr. Faisal Al Kadi, Khalid AlKhudairi, Ahmed Alola, and some other investors.

Since 2018, Invygo has been shopping the Middle East’s car subscription ecosystem, remodeling the automotive industry, and transforming customers’ experience. The platform provides its users with over 40,000 cars from 50 different brands at affordable prices. Invygo’s partnerships with Enterprise (Al Jomeih), Budget Saudi and Al Jabr in Saudi Arabia, as well as National Car Rental (Al Tayer), Diamondlease (Al Habtoor), and

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NGen Announces $40 Million Automotive Zero-Emissions

HAMILTON, Ontario, Aug. 12, 2021 (GLOBE NEWSWIRE) — Next Generation Manufacturing Canada (NGen), the industry-led organization behind Canada’s Advanced Manufacturing Supercluster, has announced a call for projects as part of a new challenge program to position Canada for success in the global shift to zero emission vehicles (ZEVs). NGen will invest $20 million in projects with a 50% industry match resulting in $40 million of new innovation spending. 

The automotive industry is undergoing the most important transformation in its history as manufacturers and consumers shift to ZEVs. The North American production of traditional powertrain components is expected to decline significantly

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Automotive Airbags Market Size is Projected To Reach USD 15980 Million By 2027 at a CAGR of 2.8%

BANGALORE, India, Aug. 2, 2021 /PRNewswire/ — Automotive Airbags Market Product Type – Frontal Airbags, Side Airbags, Curtain Airbags, Knee Airbags, Other, Application – Sedan, SUV, Pickup Truck, Other. It is published in Valuates Reports under the Automotive Industry Category.

The global Automotive Airbags market size is projected to reach USD 15980 million by 2027, from USD 13350 million in 2020, at a CAGR of 2.8% during 2021-2027.

Major factors driving the growth of the Automotive Airbags market are:

  • The rise in traffic congestion and increase in vehicle density in larger cities coupled with human error during driving are
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