Latest news with #R&D
Yahoo
9 hours ago
- Automotive
- Yahoo
Mercedes-Benz moving key corporate operations to metro Atlanta
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Mercedes-Benz is consolidating key corporate operations to Sandy Springs, Georgia, which will now serve as its North American headquarters, the company announced May 22. While the move will bring up to 500 additional jobs to the 800 already employed by the automaker in Sandy Springs, it will lead to the closure of the company's Farmington Hills, Michigan office, where many corporate functions and financial services roles are currently based, Melinda Mernovage, a spokesperson for Mercedes-Benz said in an email to Automotive Dive. The company, however, will maintain 180 research and development roles in Ann Arbor, Michigan, which eventually will grow to up to 200 jobs, she said. Some of the financial roles based in Farmington Hills will also be moved to Fort Worth, Texas, Mernovage said. Technical teams from various U.S. locations will move to a new R&D hub near Sandy Springs, where Mercedes-Benz will make a multi-million-dollar investment in a future research and development facility, according to a release from Georgia Gov. Brian Kemp. The automaker said consolidating corporate functions to metro Atlanta strengthens its position for growth and reinforces its commitment to the U.S. 'Bringing our teams closer together will enable us to be more agile, increase speed to market and ensure the best customer experience,' Jason Hoff, CEO, Mercedes-Benz North America said in a statement. The company, which opened its Sandy Springs office in 2018, expects the job transfers to be completed by August 2026. Mercedes-Benz also said bringing R&D functions to the Atlanta area will allow it to leverage the region's engineering and talent pool from institutions including the Georgia Institute of Technology. It also could help create additional opportunities to collaborate with the area's thriving startup ecosystem and established tech sectors, per the release. Recommended Reading Mercedes-Benz to produce a new 'core-segment' vehicle in Alabama Sign in to access your portfolio
Times of Oman
a day ago
- Business
- Times of Oman
India's Defence budget to rise five-fold to Rs 31.7 lakh crore by 2047, says CII KPMG Report
New Delhi: India is expected to see a major boost in its defence sector by the year 2047, with the total defence budget projected to rise to Rs 31.7 lakh crore, according to joint study report by Confederation of Indian Industry (CII) and KPMG. This is a significant increase from the Rs 6.8 lakh crore allocated in 2024-25, marking nearly a five-fold jump over the next two decades. According to the latest projections in the report, India's defence production is also expected to grow strongly. It is estimated to touch Rs 8.8 lakh crore by 2047, compared to Rs 1.6 lakh crore in 2024-25. The country is also aiming to expand its defence exports, which are likely to increase from Rs 30,000 crore currently to Rs 2.8 lakh crore by 2047. The report also mentioned that a key focus of the upcoming defence strategy is to increase the share of capital expenditure in the total budget. This share is expected to rise from 27 per cent in 2024-25 to 40 per cent by 2047, indicating higher investments in infrastructure, technology, and weapon systems. India's spending on research and development (R&D) in defence will also increase, rising from 4 per cent to between 8 per cent and 10 per cent. The percentage of GDP spent on defence is expected to go up from 2 per cent to 4-5 per cent by 2047. These developments are likely to improve India's global standing in defence expenditure. Currently ranked 4th, India is projected to move up to 3rd place by 2047. However, the report highlighted that the dependence on defence imports for critical technologies remains a significant challenge, hindering self-reliance and innovation in the domestic defence manufacturing sector. Furthermore, the report also noted that there is a shortage of skilled manpower to drive advanced technological developments and manage sophisticated defence systems. Another issue the report stated is the geopolitical tensions that pose constant threats and could divert focus and resources away from long-term development goals. At the same time, India's strategic position in South Asia, as the geopolitical and economic leader of the global South in the past decade, has doubled down on the need for a robust and responsive defence stance. Highlighting the role of private industry, the report added that fostering robust public-private partnerships is necessary but complex, as the private sector needs incentives and support to enter and sustain in the defence manufacturing domain.
Reuters
a day ago
- Automotive
- Reuters
Porsche to set up R&D centre in Shanghai, local government says
BEIJING, May 30 (Reuters) - Porsche (PSHG_p.DE), opens new tab struck a deal on Friday to set up its China research and development centre in Shanghai's Jiading district, according to a local government statement. Under the deal, Porsche models will be equipped with the first infotainment solution tailored for the Chinese market in 2026, the statement said.
Irish Times
2 days ago
- Business
- Irish Times
Tax-break ‘enhancement' being considered for companies carrying out research and development
The Government is weighing up a possible boost to tax breaks for companies doing research and development (R&D) in the Republic, according to Minister for Finance Paschal Donohoe . Speaking to US investors at the American Chamber of Commerce Ireland annual dinner on Thursday, Mr Donohoe confirmed that he had been looking at ways of 'enhancing' a tax credit that returns 30 per cent of R&D spending to companies. 'We greatly value the feedback we are receiving, including as part of our recent public consultation, and this remains a key focus for my officials and I ahead of the Budget later this year,' he told the audience. Around 1,800 companies benefit from the tax break, one of several designed to attract and retain investment. READ MORE The American chamber represents US companies in the Republic, which employ 211,000 workers here and support a further 168,000 jobs in other businesses. The Minister pointed out that the relationship works both ways, as 770 Irish companies employ more than 200,000 in the US, while they have invested $350 million (€307 million) there. He also noted that Irish aviation companies are US manufacturer Boeing's biggest customers, with orders for more than 900 of its passenger jets, worth $120 billion. These include Ryanair, which has ordered 150 of Boeing's new 737 Max 10 aircraft, with an option for 150 more, and leasing groups Aercap, Avolon and SMBC Aviation Capital. Mr Donohoe was speaking a day after the US Court of International Trade blocked the country's president, Donald Trump , from imposing sweeping tariffs on imports. Last week he threatened to charge 50 per cent on all goods from the EU, but rowed that back to July 9th following a call with European Commission president, Ursula von der Leyen. Mr Donohoe cautioned that tariffs were counter-productive, driving inflation and hurting consumers. [ White House vows to fight court ruling that Trump's 'liberation day' tariff scheme is illegal Opens in new window ] 'There are no winners in this, least of all the US taxpayers who will bear the burden of higher costs,' he said. 'Even a 10 per cent tariff could have a significant effect on Irish investment and the wider economy. It represents a huge challenge to Irish exporters to the US.' He welcomed the contacts between Ms von der Leyen and Mr Trump. Paul Sweetman, American chamber chief executive, said the organisation was there to support members in responding to trade turmoil. Winners of the 2025 American Chamber of Commerce US-Ireland Business Awards Global Leadership: Martin Cotter, president of Analog Devices, Europe, Middle East and Africa Global Impact: Alltech Global Community: Microsoft and Maynooth University, STEM Passport for Inclusion.
GSM Arena
3 days ago
- Business
- GSM Arena
Xiaomi posts record Q1 results on the back of solid growth across smartphones, AIoT and wearables
Xiaomi shared its Q1 2025 financial report, and the numbers show growth across all key divisions within the corporation. Revenues soared to CNY 111.3 billion ($15.4 billion), which represents a 47% year-on-year growth, while net profits grew by over 64% and reached $1.48 billion. Research and development expenses rose by over 30% and now amount to $930 million with Xiaomi's portfolio now boasting over 43,000 patents worldwide. Nearly half of all Xiaomi employees (47.7%) work in the R&D field. The smartphone and AIoT division, which is Xiaomi's big earner, brought in $12.8 billion in revenue - a 22% improvement on the yearly basis. Source: Canalys As of March 2025, Xiaomi has over 718.8 million global monthly active users (MAU) across the smartphone and tablet domains, which represents a 9.2% jump compared to last year. The brand retained its status as a top-3 company in terms of global smartphone shipments for 19 consecutive quarters and led the Chinese market in terms of total shipments. Xiaomi's global and Mainland China smartphone shipments Xiaomi also revealed that as of April, it invested over CNY 13.5 billion ($1.87 billion) in the development of its Xring O1 chipset, which made its debut on the Xiaomi 15S Pro and Pad 7 Ultra. The brand is reporting a growing presence in the flagship smartphone segment in China as it now holds a quarter of the premium device market. Xiaomi is now a top-three brand in the global tablet market with 3.1 million shipments in Q1 and an 8.3% market share. It also led the global wearables market for the January–March period. It is the second leading TWS player on the world stage and number one in China. Xiaomi wearables and TWS shipments rankings Xiaomi also disclosed 943.7 million connected IoT devices (not including smartphones, tablets and laptops) and added over 1000 new offline stores across mainland China. Revenues from the electric vehicle (EV) division grew to $2.5 billion. Xiaomi shipped over 75,000 SU7 series EVs in its home market during Q1 which brings the total SU7 shipments to over 250,000. Source
