News

Chinese automaker plans self-driving, electric car by 2020 An automotive venture backed by China tech giant Tencent aims to launch an electric   self driving car   before 2020, entering a crowded field dominated by US-based Tesla, the chief executive told Reuters on Tuesday. Future Mobility, backed by Tencent and Hon Hai Precision Industries, is one of an expanding field of China-backed ventures that aim to take on   Tesla   Motors Inc as green energy car sales boom in China. Although the venture sought to produce premium cars like Tesla, it would attempt a different strategy from the US company that began with relatively limited production and focuses on a single model at a time, CEO Carsten Breitfeld said in an interview. "Right from the beginning we define the platform, right from the beginning we define the production process to be mass production and right from the beginning we think of more than one model, a family of models, defined from this platf...

Bengaluru pips Tokyo, Tel Aviv in list of innovation hubs India has emerged as a new innovation ‘empire’ of choice by global corporates. Bengaluru - the information technology and start-up hub – has surpassed many global cities as a preferred destination for innovation centres, according to Capgemini’s study on ‘Innovation Empire’. Bengaluru that has emerged as the fifth most preferred location for housing innovation centres, overtook Tokyo, Shanghai, Berlin,  Tel Aviv , Munich and Chicago, said the report titled ‘Digital Dynasties: The Rise of Innovation Empires Worldwide’. In the previous report that captured data until July 2015, Bengaluru did not figure in the list of top 10 cities. The report said Silicon Valley was no longer the hub for corporate innovation, as global enterprises were seeking talent pools beyond established hubs. Between July 2015 and February 2016, four global enterprises set up their innovation centres in Bengaluru, the highest in Asia. During t...