Lucid Group to build its first plant outside U.S. in Saudi Arabia

Lucid Group to build its first plant outside U.S. in Saudi Arabia

American electric vehicle manufacturer Lucid Group Inc has reportedly planned to build its first plant outside the United States in Saudi Arabia.

The manufacturing plant will have the capacity to manufacture 155,000 vehicles a year and will initially cater to the local market. Later, the vehicles will be exported to international markets.

It is worth noting that Lucid’s facility in Arizona can manufacture 350,000 units a year.

According to Chief Executive Officer Peter Rawlinson, the new facility will enable the company to expedite plans to manufacture close to half a million cars a year

Candle Media to acquire media company ATTN: for USD 100 Million

Candle Media to acquire media company ATTN: for USD 100 Million

Media company Candle Media has reportedly planned to acquire ATTN: a Los Angeles-based media company for USD 100 million in stock and cash.

Credible sources reveal that the deal could be worth USD 150 million with the additional provision of earn-outs.

The Blackstone-backed media company stated that ATTN: is capable of effectively engaging a social audience, which piqued its interest in acquiring the company.

The acquisition provides ATTN: with capital, scale, and expertise to fast-track its growth. Jarrett Moreno and Matthew Segal, Co-Founders of ATTN: along with the current senior management

US at a high risk of recession, warns Goldman Sach’s Senior Chairman

US at a high risk of recession, warns Goldman Sach’s Senior Chairman

Lloyd Blankfein, the Senior Chairman of Goldman Sachs, has urged US consumers and companies to be prepared for a recession, saying that there is a “very, very high risk”.

In an interview, Blankfein said that if he was running a large company, or if he was a consumer, he would be prepared for it. He stressed that recession is not something baked in the cake and there is a very narrow path to elude it.

The former Goldman CEO officer claims that the Federal Reserve has extremely powerful tools to curb inflation and the tools have been responding well.

Blankfein’s statement was broadcas

Reliance to acquire several brands to build its $6.5B consumer goods biz

Reliance to acquire several brands to build its $6.5B consumer goods biz

Reliance Industries, an Indian multinational conglomerate, is planning to build a portfolio of 50-60 personal care, grocery, and household brands within six months and hiring a fleet of distributors to develop its own consumer goods business which, as per sources, is worth $6.5 billion.

According to sources, the company is looking to launch a new arm named ‘Reliance Retail Consumer Brands’ which will come on top of its brick-and-motor outlet network of nearly 2,000 grocery stores and its e-commerce platform JioMart.

Furthermore, the company is in the last few steps of negotiations with around thirty popular local brands

Rivian stock plummets as Ford sells 8 million shares in the company

Rivian stock plummets as Ford sells 8 million shares in the company
  • Rivian’s stock prices hit extreme lows reporting a 72% drop this year
  • Previously Ford accounted for a total of 102 million shares in the EV maker
  • Speculations have affected Rivian shares, declining the stock prices by more than 15% to some $24 per share

Rivian, electric truck startup reported the biggest IPO (Initial Public Offering) last November for an American company following Facebook’s debut into the stock market back in 2012.

After the initial valuation of around $77 bi

NFC Chips Market Evolving Technology, Segmentation and Industry Analysis 2022 to 2028

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A detailed synopsis of the NFC chips market has been presented in this research report. The synopsis has been charted out keeping in mind certain vital parameters such as global trends, industry insights, growth drivers, industry ecosystem analysis, and market segmentation. Details about the various companies constituting he competitive landscape of market as well as the regional bifurcation of this industry from a global standpoint is outlined in the study, in addition to the impact of the regulatory frame of reference worldwide.

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Anti-Collision Sensor Market Size, Growth, Analysis, Outlook by 2022 - Trends, Opportunities and Forecast to 2028

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The anti-collision sensor market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

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Magnetometer Market Size: Industry Growth Factors, Applications, Regional Analysis, Key Players and Forecasts by 2028

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An in-depth understanding of the magnetometer market has been provided in this research study. The report analyses the market in terms of numerous parameters, such as growth drivers influencing the commercialization graph of this business space, industry insights, global trends characterizing the industry, and market segmentation.

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Hardware Storage Market Statistics 2022 | Industry Growth, Share & Regional Forecast To 2028

Hardware Storage Market Statistics 2022 | Industry Growth, Share & Regional Forecast To 2028

The hardware storage market research study is a detailed document that presents a gist of the global industry space in terms of numerous parameters. Some of these falls along the likes of the industry insights, growth drivers, industry segmentation, and trends worldwide. Also included in the research report is information pertaining to the companies partaking in the market share and the information pertaining to the regulatory norms that impact the commercialization landscape of this vertical.

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