Automaker giant Tesla, Inc has earned a profit of USD 1.6 billion in the third-quarter ending in September, backed by record car sales despite supply chain woes and chip shortages. The net income in Q3 is nearly five times from USD 331 mill....

Xiaomi Corp., which is one of the world’s largest smartphone manufacturers, is reportedly planning to enter the automobile industry by launching its range of electric cars by 2024. While the company has already tested the waters in t....

Audio streaming and media services provider Spotify is reportedly planning to hire more advertisement execs in order to increase its ad revenue, which now accounts only for a small portion of the streaming and podcasting company's overa....

Foxconn Technology Group, known for being a major assembler for Apple products, is reportedly venturing into electric vehicle manufacturing to further diversify from its current role of manufacturing consumer electronics for tech giants lik....

Facebook has recently announced plans of hiring at least 10,000 employees in the European Union in the upcoming years to develop a “metaverse”. The revelation comes as the tech giant struggles with rising concerns over its busin....

NXP Semiconductors N.V. has reportedly chosen Amazon Web Services (AWS) as its preferred cloud provider. As part of this move, the specialized semiconductor manufacturer is shifting the majority of its EDA (electronic design automation) wor....

Shares of Tata Motors rose by around 10% as the auto major is likely to raise USD 1 billion for its passenger electric vehicle business from TPG Rise Climate, taking the company’s total valuation to over USD 9.1 billion. Tata Motors ....

The company will also launch its second-generation product the Magic Leap 2 in 2022. Magic Leap expects that the new product will help in increasing the adoption of AR solutions across businesses. Augmented reality (AR) firm Magic Lea....

Mobile gaming company Homa Games has reportedly raised USD 50 million in a Series A round led by early-stage venture capital fund, Northzone. The funding round comes just seven months after its seed round which was led by Eurazeo and Headli....

Mercedes-Benz AG is reportedly investing more funds to enhance its research and design capabilities in China to stay ahead of consumer trends and regulations in the world’s largest auto market. The luxury car manufacturer will unveil....