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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)

Amazon will invest 10 billion euros ($10.75 billion) as demand for its cloud services and retail goods in Europe's biggest economy keeps growing, the US technology and retail company said on Wednesday.

The greater part of the sum, 8.8 billion euros, will be spent by 2026 to expand the cloud infrastructure of its computing unit Amazon Web Service (AWS), as it sees rising potential in Artificial Intelligence (AI)-driven technologies in Europe, Reuters reported.

German Chancellor Olaf Scholz praised the investment that would create more than 4,000 jobs this year by saying it underlines the country's attractiveness for investors.

Berlin is dealing with an economic downturn triggered by high energy costs and interest rates, as well as under-investment due in part to red tape.

The announcement brings the total amount of Amazon's planned investments in Germany to 17.8 billion euros.

AWS was considering multi-billion investments in the expansion of its data centres in Italy, Reuters reported in May.

 

 

 

 

 

 

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Tesla Plans Four New Batteries in 2026, Including for Robotaxi

FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo
FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo
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Tesla Plans Four New Batteries in 2026, Including for Robotaxi

FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo
FILE PHOTO: A staff member attends to customers inside a Tesla Model Y car at a showroom of the US electric vehicle (EV) maker in Beijing, China, Feb. 4, 2023. REUTERS/Florence Lo/File Photo

Tesla plans to design four new versions of its in-house battery to power the Cybertruck, its forthcoming robotaxi and other electric vehicles, the Information reported on Thursday, citing people with knowledge of its plans.

The Elon Musk-led firm currently sources most of its EV batteries from other companies, including Panasonic Energy and LG Energy but has been trying to ramp up production of its 4680 battery cells in the United States to lower costs and boost margins.

The development of the 4680 battery has been facing troubles, with the company losing 70% to 80% of the cathodes in test production compared with conventional battery makers, which lose fewer than 2% of their components to manufacturing defects, the report said.

Cathodes, a key part of the battery, helps in creating energy that propels an EV, Reuters reported.

The company has also been trying to scale production of dry-coated version of the 4680 cells but has been struggling with the speed at which they can make the batteries, Reuters had reported last year.

Tesla is planning to introduce the dry cathodes in Cybertruck batteries by the middle of next year, the Information report said, adding that the company plans to make between 2,000 and 3,000 Cybertrucks a week using the dry-coating technology.

By 2026, Tesla plans to introduce four versions of the 4680 that use the dry cathode, one of which, code-named NC05, will power the robotaxi, according to the report.

The EV maker is expected to unveil its long-awaited robotaxi product next week as it looks to shift its focus to AI-powered autonomous technology amid slowing demand for battery-powered cars.