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OMV says it will stop oil and gas production by 2050 in transformation to net-zero

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Austria-based OMV, an international, integrated oil, gas and chemicals company, announced its intention to become a net-zero (Scope 1, 2 and 3) company by no later than 2050. Overall, these growth projects will increase sales of monomers by 35% and polyolefins by around 30%. Chemicals & Materials.

Oil 465
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JATO: global vehicle sales fall by 39% in March; electrified vehicles up to 17.4% new registration market share in Europe

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The outbreak of COVID-19 has already impacted the automotive industry significantly, according to JATO Dynamics, a leading provider of global automotive data and insight. Global vehicle sales totalled 5.55 We have to remember that the industry was already operating in a challenging environment, especially towards the end of last year.

Europe 261
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Mitsubishi Rayon acquires majority of carbon fiber reinforced plastics company Wethje; targeting auto industry

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MRC) recently executed a share sales and purchase agreement by which it will acquire 51% of Wethje Holding GmbH , a German company engaged in manufacturing of carbon fiber reinforced plastics (CFRP) parts for automobile applications, from Wethje parent Cross Industries AG. Mitsubishi Rayon Co.

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Siemens and Mitsubishi Heavy form joint venture for metals industry

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Siemens AG and Mitsubishi Heavy Industries, Ltd. and IHI Corporation—and Siemens MT Business, Siemens group companies undertaking metals production in countries including Germany, Austria and the US. MH)—an MHI consolidated group company with equity participation by Hitachi, Ltd. The JV’s CEO is currently being selected.

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RUSAL opens new low-carbon aluminum smelter in Taishet

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Full scope CO 2 emissions will be one of the lowest in the industry, the company claims. Sales of the low-carbon aluminum produced in Taishet will be focused towards the extrusion and rolled products segments, helping to meet the high demand for low-carbon aluminum worldwide. Pre-operation verifications and testing have begun.

Carbon 186
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Ride Vision launches AI-based collision-avoidance system for motorcycles

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Moreover, as the pandemic has reduced public transit use, people are considering motorcycles and other motorized two-wheeled vehicles as viable alternatives, with two-wheeled vehicle sales rising by 30% on average across the EU during COVID-19. Ride Vision uses a combination of image-recognition and AI technologies to power its solution.

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Fisker establishing European HQ in Munich; Ocean SUV program advancing towards first gateway

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Munich offers convenient access to key European EV markets and close proximity to Magna’s Graz facility in Austria. Munich has long been a major global hub for the automotive industry. Fisker Inc. has selected Munich as the location for its European headquarters.

Fisker 221