ADB Funds Indian Rail Infrastructure Improvement
Manila, Philippines: Asian Development Bank (ADB) has secured a US$120 million loan agreement with the Indian government to fund double-tracking work on about 840 km of rail routes and the electrification of 640 km of railway tracks across high-density corridors in the country.
Volkswagen Group To Increase BEV Production
Wolfsburg, Germany: The Volkswagen Group has announced its plans to construct battery electric vehicles (BEVs) in 16 different locations around the world by the end of 2022.
At present, the Volkswagen company makes BEVs at only three of its plants–in Wolfsburg, Dresden and Bratislava–but wishes to grow this number to nine within the next two years.
The decision could be vital for the Volkswagen Group to accommodate its target of building three million units each year by 2025. This goal was outlined in the company’s ‘Roadmap E’ strategy, alongside Volkswagen Group plans to offer 80 new electrified models in its portfolio.
The Volkswagen Group has recently invested in production facilities specific to BEVs. It said it would pump US$17m into its transmission plant in Tianjin, China, to house the production of motors for electric vehicles.
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3D Printing Spending In Asia Pacific To Reach US$3.6 Billion By 2021
Asia Pacific: In Asia Pacific excluding Japan (APEJ), spending on 3D printing (including hardware, material, software, and services) will reach US$3.6 billion by 2021 with a five-year compound annual growth rate (CAGR) of 22.4 percent, according to market intelligence company International Data Corporation.
BMW And Toyota Invest In Self-Driving Shuttle Startup
Michigan, US: BMW i Ventures and Toyota AI Ventures, venture-capital arms of their respective auto making groups, are among the leading investors in the US$11.5-million “seed investment” funding round for a Michigan-based start-up—May Mobility—that is developing low-speed, self-driving electric shuttle systems.
Steel Producers Form Joint Venture To Fulfil Myanmar’s Construction Needs
Myanmar: Five steel manufacturers have formed a joint venture to produce and sell hot-dip galvanised and coloured flat steel products for the building and construction sector in Myanmar.
Taiwan Boosts Investments In ASEAN In 2016
Taiwan: The country increased its annual investment in the member states of the Association of Southeast Asian Nations (ASEAN) in 2016 to US$4.2 billion, an increase of 73.3 percent from 2015.
PSA Signs Joint Venture Deals Worth US$107M With CK Birla Group
New Delhi, India: PSA Signs Joint Venture Deals Worth US$107M With CK Birla Group, an India-based manufacturing conglomerate, and France-based automaker PSA Group have agreed to partner on two joint ventures in the automotive sector in India with an initial investment of Rs 700 crore (US$107 million).
Ford To Launch Electric Vehicles In China
China: Automaker Ford Motor Company has partnered with Chinese automaker Anhui Zotye Automobile in a US$765 million joint venture to build electric vehicles (EV) in China, adding to rising EV investment by global automakers in the world’s largest car market.
