Transport Topics
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Volvo Group Venture Capital AB, a subsidiary of Volvo Group, announced it has invested an undisclosed amount in Momentum Dynamics Inc., which provides high-power wireless charging systems for the automotive and transportation industries.
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Tesla, recognizing as imperative its ability to produce a cheaper electric car, told employees Jan. 18 that it must cut 7% of its workforce.
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Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By midyear America will go one better.
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U.S. factory production expanded in December by the most in 10 months, ending the year stronger than expected thanks to a surge in motor-vehicle output and gains across a range of other goods.
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