Company news in brief

VW hikes investment into e-car techVolkswagen announced plans to spend more on digital technology, saying on Friday it would be crucial to have a leading position in car software in the changing mobility sector.It will spend 73 billion euro (US$86 billion) on electric and hybrid cars technology and digitalisation over the next five years, or around half of its total investment budget of around 150 billion euro, it said.That is up from 60 billion, or 40% of investments, it announced in last year's five-year plan.Volkswagen chief executive Herbert Diess said last month that the company would tweak its strategy to maintain investment momentum for developing electric and autonomous cars as it tries to make up for lost revenues caused by the coronavirus pandemic.Under the plan presented on Friday, Volkswagen is doubling its planned spending on digitalisation to 27 billion euro, as it seeks to develop a seamless, software-based vehicle operating system, it said. – Nampa/ReutersUber in talks to sell its AuroraUber Technologies Inc is in talks to sell its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, a source familiar with the matter told Reuters.The talks are still ongoing and there is no certainty a deal could be reached, the source said, adding that Uber is also considering taking stake in the new company if Aurora takes over ATG.Uber's ATG, which works to develop autonomous driving technology, counts Toyota Motor Corp and SoftBank Group Corp among its investors. Earlier last year, the unit had raised US$1 billion from a consortium of investors including SoftBank, that valued it at US$7.25 billion.Uber has been seeking options for its autonomous vehicle divisions, a heavy cash burn machine, including seeking more outside investment, as CEO Dara Khosrowshahi refocused on core businesses including ride-hailing and food delivery since the pandemic hit.Aurora is among dozens of start-ups, automakers and large technology companies working on self-driving car systems, eager to capitalise on a sea change in the transportation industry. – Nampa/ReutersSpaceX to launch astronaut crewBillionaire entrepreneur Elon Musk's SpaceX will try to send four astronauts to the International Space Station in NASA's first operational mission using a privately built vehicle to fly humans into orbit.The roughly eight-hour journey to the space station will be SpaceX’s first operational mission. A crewed test flight with two crewmen aboard in August marked the first spaceflight of NASA astronauts launched from US soil in nine years.NASA officials signed off on Crew Dragon’s final design early alst week, ending a nearly 10-year development phase for SpaceX under the agency’s public-private crew programme.NASA contracted SpaceX and Boeing in 2014 to develop competing space capsules aimed at replacing its shuttle programme that ended in 2011 and weaning off dependence on Russian rockets to send US astronauts to space.Boeing’s first crewed test mission with its Starliner capsule is planned for late next year. – Nampa/ReutersGM recalling nearly 69 000 Bolt EVsGeneral Motors Co said on Friday it is recalling 68 677 electric cars worldwide that pose a fire risk after five reported fires and two minor injuries.The Detroit automaker said it will recall 2017-2019 model-year Chevrolet Bolt EVs with high voltage batteries produced at LG Chem’s Ochang, Korea facility.The National Highway Traffic Safety Administration (NHTSA) last month opened a preliminary investigation into the Bolt EVs after reports of three Bolts catching fire under the rear seat while parked and unattended.GM said the vehicles pose a risk of fire when charged to full, or nearly full capacity. GM said it has developed software that will limit vehicle charging to 90% of full capacity to mitigate the risk while GM works to determine the appropriate final repair.Last month, Hyundai Motor issued a recall for about 75 000 Kona EVs worldwide because of a possible short circuit due to what may be faulty manufacturing of its high-voltage battery cells could pose a fire risk. – Nampa/ReutersBritain's Greggs to cut 820 jobsBritish baker Greggs will cut 820 shop staff jobs as it expects trading to remain below normal for the foreseeable future due to the Covid-19 pandemic, a company spokeswoman confirmed on Friday.Greggs, best known for its sausage rolls, steak bakes and vegan snacks, said in September it had launched a consultation with union and employee representatives and was aiming to minimise job losses by negotiating reduced staff hours.The company currently employs 25 000.It joins a swathe of companies cutting jobs, particularly in retail and hospitality, including at household names such as Marks & Spencer, John Lewis and Boots.Greggs was performing well before the pandemic, with its shares hitting a record high of 2 550 pence in January. The shares closed Friday at 1 570 pence, down 27% so far in 2020. – Nampa/Reuters

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