Toyota invests $1.45 billion to upgrade Tacoma plant production
New investment will create 1,600 jobs at two factories south of U.S. border go through Brad Anderson 14 hours ago The huge investment comes despite Donald Trump's threats to impose steep new tariffs on Mexican-made cars. Many of the trucks Toyota builds in Mexico are sold in the United States and Canada. Trump said cars made in Mexico could be subject to tariffs of 200% or higher. Toyota plans to invest $1.45 billion to upgrade its manufacturing plants in Baja California and Guanajuato, Mexico, to prepare for production of the Tacoma and Tacoma Hybrid. However, the timing of this announcement is complicated by Donald Trump's recent re-election in the United States, creating uncertainty over cross-border trade policy and Toyota's long-term strategy in the North American market. Toyota said the investment will create 1,600 new jobs at the two Mexican plants while strengthening the company's presence in the region. By modernizing the two plants, Toyota will be able to adopt more…
Hapag-Lloyd invests US$4 billion in 24 dual-fuel ships
German shipping giant Hapag-Lloyd has committed to investing US$4 billion to order 24 new dual-fuel container ships from China's Yangtze River Shipbuilding Group and New Era Shipbuilding Co., Ltd. The fleet upgrade is planned to be delivered from 2027 to 2029, which will increase the shipping capacity by 312,000 TEU. In terms of Yangzijiang Shipbuilding, it has 16,800 TEU ships, and New Era Shipbuilding has 9,200 TEU ships. Also read: Environmental groups push to decarbonize shipping to fight pollution The advanced vessels will be aligned with Hapag-Lloyd’s Strategy 2030 and feature dual-fuel engines capable of running on biomethane, which is expected to reduce CO2 emissions by up to 95%. Additionally, the ships are designed to be ammonia-ready, demonstrating the company’s commitment to sustainable shipping and carbon neutrality. CEO Rolf Habben Jansen noted: "A more efficient fleet will strengthen our competitive position and enable us to provide high-quality global services." With $3 billion in long-term financing, this fleet update and the…
ASM Global invests in the future of the Middle East
Submitted by ASM Global Harvey Lister, Chairman and CEO of ASM Global (Asia Pacific), has announced the promotion of three leaders in the Middle East and North Africa (MENA) region of ASM Global - the world's largest development, full-service venue and live events company. Mark Jan Kar has been promoted to senior vice president of entertainment, content and programming for the region and general manager of Coca-Cola Arena, Dubai; Deb Rogers has been promoted to vice president of people and culture, Asia and MENA; Iain Wooldridge has been promoted to Chief Financial Officer, Middle East and North Africa. Coca-Cola Arena (CCA), Dubai – the UAE’s first multi-purpose indoor events venue has been a focus for Mark since joining ASM Global in 2018, first as Commercial Director, then leading Live Entertainment in 2019 and becoming CCA General Manager in 2021. manager. Most recently appointed as Senior Vice President of Entertainment, Content and Programming (MENA) in February this year, he is currently…
Toyota invests an additional $500 million in air taxi startup
Automaker's cash infusion into Joby Aviation will help the California-based company begin commercial operations in late 2025 go through Chris Chilton October 2, 2024 20:30 Toyota also invested $500 million in California-based air taxi startup Joby Aviation. The cash, which will be split into two tranches, is expected to allow Joby to begin flying commercially in 2025. The new capital injection brings Toyota's total investment in Joby to $894 million. Toyota is investing $500 million in an air taxi startup that plans to begin commercial flights next year. The automaker has been working with California-based Joby Aviation since 2020, and the latest cash infusion brings Toyota's total investment in the company to $894 million. Joby will receive the new cash in two tranches, with the first arriving in Santa Cruz later this year and the remainder due in 2025, the year the company hopes to truly launch its electric air taxi business. RELATED: Toyota invests $394 million in bet on…
Phoenix Equity Partners invests again in Nineteen Group
Wimbledon, UK — Phoenix Equity Partners is investing in Nineteen Group, which organizes trade shows for the security, fire, emergency services, health and safety, facilities management and maintenance engineering industries. This is Phoenix Equity Partners’ second round of funding. Phoenix partnered with Nineteen CEO and founder Peter Jones in 2018 to develop an acquisition-led organic growth strategy. Since then, Nineteen has grown exponentially. “We are extremely proud to be working with Phoenix to further expand our business. With Phoenix’s support, the Nineteen team has ambitious plans to drive the next phase of growth through organic build-outs, the launch of new exhibitions and further acquisitions, ” said Peter Jones, CEO of Nineteen. The new capital injection will enable Nineteen to move into a larger continuation fund led by two of the world's leading investors, Kline Hill Partners and Ares Management. "Phoenix Equity Partners have been steadfast in supporting us during COVID. We have seven shows and 28 people on board. Since…
Navigator Gas invests in groundbreaking clean ammonia project
Navigator Holdings (NYSE: NVGS), also known as “Navigator Gas,” announced a strategic co-investment with Attis Clean Energy in Ten08 Energy, a company developing a cutting-edge hybrid blue-green ammonia production facility on the Texas Gulf Coast. See also: Ammonia could be a way for shipping to reduce emissions Navigator Gas is the world's largest owner and operator of the Handysize gas fleet and a global leader in the transportation of petrochemical gases such as ethylene, ethane, liquefied petroleum gas (LPG) and ammonia. This new venture marks an important step in expanding its presence in the clean energy sector. Ten08 Energy’s ambitious project aims to establish a hybrid blue-green ammonia production and export facility capable of producing 1.4 million metric tons of ultra-low-carbon ammonia per year by late 2029 or early 2030. The plan is to support the decarbonization of the power, shipping, fertilizer and chemical industries. Navigator’s initial $2.5 million investment is in addition to development funding already provided by Attis,…
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