October 31, 2020

BlackRock Bets on Electric-Vehicle Startup Arrival With $118 Million Investment

The investment values the U.K.-based manufacturer at around €3 billion, equivalent to $3.5 billion, according to a person familiar with the matter. Arrival is expected to announce the investment later Wednesday.

BlackRock, the world’s biggest money manager overseeing $7.8 trillion in assets, is joining the startup’s existing backers—auto manufacturers

Hyundai Motor Co.


Kia Motors Corp.

Those companies together invested a total of €100 million in January.

BlackRock is investing at the same valuation as Hyundai and Kia because it had started its negotiation around the same time as the other two investors. However, the coronavirus pandemic slowed its talks, according to the person familiar with the matter. U.S. delivery company

United Parcel Service Inc.

is also an investor but the amount it has contributed couldn’t be learned. Together, the four investors will own an undisclosed minority stake, according to the person.

The fundraising is the latest in a wave

Read More

De Blasio announces ‘long-term’ investment in bus transportation for NYC kids

NEW YORK — The city says it’s investing in a partnership with a company providing school buses in an effort to provide “greater stability, flexibility and oversight” in transportation for New York’s schoolchildren.

This comes on the heels of the city establishing a not-for-profit to oversee school bus inventory and employees called NYCSBUS. They’re partnering with Reliant Transportation, who already specializes in busing for special education students and runs around 950 busing routes for the city’s Department of Education each year. NYCSBUS “will offer employment to the current Reliant workforce and work with labor partners to develop acceptable collective bargaining agreement terms to prevent any workforce disruption.”

“We are doing everything we can to guarantee safe, fast, and reliable bus service for the students who need it most,” said Mayor de Blasio in a statement. “This agreement delivers on that promise and makes a lasting investment in our school communities

Read More

Trudeau, Ontario announce ‘win-win’ $1.8 billion investment into Ford electric vehicle production

PM, Ford announce COVID-19 job boost with auto investment

Prime Minister Justin Trudeau and Premier Doug Ford announced contributions part of a $1.8 billion investment into car manufacturer Ford’s Oakville Assembly Complex, in order to make it a global hub for battery electric vehicle production.

Both the Ontario and federal government will invest $295 million, to go along with an investment by the manufacturer, in order to make zero emission electric vehicles.

“By investing in technology that protects the environment, we’re also taking action on our plan to get to net zero carbon emissions by 2050, said Prime Minister Justin Trudeau on Thursday. “For our environment, for our auto-sector, this is a win-win.”

Trudeau said the announcement secures 5,000 middle-class jobs, while positioning the country to use its talent to be a leader in electric vehicles, a growing market.

“Today’s announcement represents the largest investment in Ontario’s auto sector and

Read More

Global Automotive Oil Tempered Spring Steel Wires Market 2020 Industry Research, Business Growth, Future Investment and Emerging Trend to 2025

The MarketWatch News Department was not involved in the creation of this content.

Sep 28, 2020 (CDN Newswire via Comtex) —
Global Automotive Oil Tempered Spring Steel Wires Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 now available at MarketQuest.biz provides information and the advancing business trends related to the market. The report delivers a thorough analysis of the status of key players in the competitive landscape while including their portfolio and geographical expansion endeavors. The report provides a product overview and highlights of product and application segments of the global Automotive Oil Tempered Spring Steel Wires market. The report breakdowns the global Automotive Oil Tempered Spring Steel Wires market size, industry share, growth, key segments, CAGR, application, type, application, and key drivers. Research further studies the market development status and future trends across the world.

Market Overview:

The report covers market size with respect to valuation

Read More