Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business2 days ago
General Motors said on Friday it had acquired Algolion Ltd, an Israel-based software startup that helps detect problems in batteries.
GM said Algolion’s software will help the Detroit automaker bring to the market a “cost-effective” early hazard detection system at a quicker pace.
The deal, for an undisclosed sum, comes at a time when automakers are investing billions in manufacturing electric vehicles (EVs) and rushing to develop batteries — which represent up to 50 per cent of an EV’s price tag — that can power an automobile for a longer duration.
It also comes as safety authorities urge US automakers to improve battery standards after a series of events where vehicles have caught fire due to defective modules.
Algolion has developed a software that uses data from EV battery management systems to help identify anomalies in cell performance and provide early detection of battery hazards including “thermal runaway propagation events”, GM said.
A thermal runaway is a rapid and unstoppable increase in temperature that leads to fires in EVs.
Algolion, founded in 2014, will join more than 850 employees at GM’s Technical Center in Herzliya, Israel.
Shares of GM were up 1 per cent in afternoon trade on Friday amid a rise in broader markets.
Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business2 days ago
Authorities said the Adani Group chairman and seven other defendants agreed to pay the bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years
business2 days ago
Company strengthening regional presence and service offering
business2 days ago
Sinochem may keep three refineries in China's Shandong province
business3 days ago
Memorandum of understanding aims to enhance cooperation in the construction sector
business3 days ago
Serenia Living’s architecture and interiors have been led by Palma’s expert team
business3 days ago
Company’s backward integration model reaps dividends
business3 days ago
Participating companies announce several cooperation achievements
business3 days ago