Sunday, December 22

Tag: grants

US to grant Samsung up to $6.4 billion for chip plants
15Apr By adminNo Comments
Business

US to grant Samsung up to $6.4 billion for chip plants

WASHINGTON: The United States on Monday announced grants of up to $6.4 billion to South Korean semiconductor giant Samsung to produce cutting-edge chips in Texas.The award is the latest from the US government as it looks to revive the country's chip manufacturing industry, especially high-end semiconductors.President Joe Biden's administration has previously approved billions in grants to US titan Intel and Taiwan's TSMC, as it tries to avoid the prospect of shortages of semiconductors -- the lifeblood of the modern global economy."The U.S. Department of Commerce and Samsung Electronics (Samsung) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.4 billion in direct funding under the CHIPS and Science Act," said a statement published by the Department of C...
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Biden’s $3.1 Billion Train Ticket to Nowhere
2Jan By adminNo Comments
Health

Biden’s $3.1 Billion Train Ticket to Nowhere

It didn’t get a lot of attention, but last month the White House awarded $3.1 billion to the California High-Speed Rail project. This was supposed to be a bullet train connecting San Francisco and Los Angeles in less than three hours. Instead, its costs keep rising even as the state scales back the plan. Since 2008, when California voters authorized a $10 billion bond issue for the train, they’ve been sold a bill of goods.The original total estimated construction cost to taxpayers was $33 billion. That’s risen to at least $100 billion. The authority decided to offer service between San Francisco and Los Angeles in Phase I, then eventually extend the train service north to Sacramento and south to San Diego. Phase I was to have been completed by 2020. Copyright ©2024 Dow Jones & Company...
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Western Anxiety About Chinese EVs Could Prove Self-Defeating
1Jan By adminNo Comments
World

Western Anxiety About Chinese EVs Could Prove Self-Defeating

Updated Jan. 1, 2024 12:06 am ETChina hawks have the upper hand in the political battle over electric vehicles. They should be wary of overplaying it.The rules for getting a tax credit on EV purchases in the U.S. changed recently. One difference will help stimulate sales: The credit, worth up to $7,500, is now available at the point of sale rather than at the end of the tax year, meaning it can be used as part of a down payment. Other changes will have the opposite effect. Among new sourcing requirements designed to foster a North American supply chain, battery components manufactured in China, the world’s largest supplier, now make models ineligible.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Western Anxiety About Chinese EVs Could Prove Self-Defeating
1Jan By adminNo Comments
Money

Western Anxiety About Chinese EVs Could Prove Self-Defeating

Updated Jan. 1, 2024 12:06 am ETChina hawks have the upper hand in the political battle over electric vehicles. They should be wary of overplaying it.The rules for getting a tax credit on EV purchases in the U.S. changed recently. One difference will help stimulate sales: The credit, worth up to $7,500, is now available at the point of sale rather than at the end of the tax year, meaning it can be used as part of a down payment. Other changes will have the opposite effect. Among new sourcing requirements designed to foster a North American supply chain, battery components manufactured in China, the world’s largest supplier, now make models ineligible.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers’ Warnings
22Dec By adminNo Comments
World

Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers’ Warnings

Updated Dec. 22, 2023 10:17 am ETWASHINGTON—The Biden administration on Friday proposed tough new rules for a valuable climate subsidy, siding with environmental groups despite warnings from some of the nation’s biggest energy companies that strict limits could stifle a critical industry.The proposed criteria would determine who gets generous tax credits for producing hydrogen, one of the few viable replacements for fossil fuels in heavy industries such as steelmaking and shipping, where renewable electricity and batteries aren’t sufficient. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits
22Dec By adminNo Comments
World

In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits

The Financial Accounting Standards Board has a busy year ahead of it. It will be advancing projects in three tentpole areas—accounting for software costs and environmental credits and greater disclosure of income-statement expenses—aimed at providing investors with new financial insight, Chairman Rich Jones said in an interview. New rules, which can take years to come to fruition, can also saddle companies with a greater compliance burden. But in outlining his 2024 agenda, Jones said the accounting standard-setter for U.S. companies and nonprofits will again be asking investors and other stakeholders which issues to take up next.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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North Carolina’s Billion-Dollar Bet on an EV Outsider
11Dec By adminNo Comments
World

North Carolina’s Billion-Dollar Bet on an EV Outsider

Updated Dec. 11, 2023 12:13 am ETHAIPHONG, Vietnam—When electric-car startup VinFast Auto was looking to build a factory in the U.S., one state caught its attention in particular: North Carolina. For years, officials there had been trying to get an automobile manufacturer to set up shop in rural Chatham County. More than a billion dollars of incentives got them the Vietnamese upstart with huge ambitions but a limited record.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Toshiba, Rohm to Invest $2.69 Billion to Make Power Devices in Boost to Japan Chip Industry
8Dec By adminNo Comments
World

Toshiba, Rohm to Invest $2.69 Billion to Make Power Devices in Boost to Japan Chip Industry

Toshiba and electric-parts company Rohm will invest $2.69 billion in a venture to produce power devices, a move aligned with Tokyo’s drive to ensure a stable supply of semiconductors in Japan.The Japanese companies said Friday they will spend a combined 388.3 billion yen ($2.69 billion) to boost production capacity of silicon carbide and silicon power devices, components used for supplying and managing power in parts such as electric-vehicle powertrains.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Ford EV Battery Plant Rides Bumpy Road in This Michigan Town
2Dec By adminNo Comments
World

Ford EV Battery Plant Rides Bumpy Road in This Michigan Town

MARSHALL, Mich.—Rick Sadler doesn’t like it when he looks across the North Branch of the Kalamazoo River and sees light towers and construction equipment on the site of a planned electric vehicle battery plant next to this small, south-central Michigan city. “We can hear them working six days a week, 6 in the morning sometimes,” said Sadler, who lives in a subdivision near the river and is among local residents who oppose the plant.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Biden’s EV Subsidy Rules Leave Room for Chinese Suppliers
1Dec By adminNo Comments
World

Biden’s EV Subsidy Rules Leave Room for Chinese Suppliers

The Biden administration is moving to jolt the domestic electric-car industry out of its reliance on China. But much-awaited rules released Friday appear to leave some room for U.S. companies to work with Chinese partners.The new requirements will likely reduce the number of electric-vehicle models that consumers can buy and qualify for a $7,500 tax credit. How many vehicles are eligible will hinge on automakers’ ability to build cars that comply with the rules. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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