Search Site

Trends banner

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Sony arm to make EVs

Sony chief executive reveled that the company is set for a spring launch. Image/AFP
  • The Japanese firm Sony announced the founding of a new EV company to dive into the world of electric mobility
  • Sony's Vision-S electric vehicle, with internal and external sensors, is being used to test autonomous driving technologies

Electronics giant Sony unveiled Tuesday a new prototype of its Vision-S electric vehicle and announced the founding of a company to explore jumping into the rapidly growing market.

The Japanese firm, better known for its TVs and video game consoles, will create the Sony Mobility subsidiary in spring 2022 as it weighs entering the field.

Sony chief executive officer Kenichiro Yoshida unveiled at the CES tech show in Las Vegas the Vision-S 02, a new version of the firm’s first prototype that has begun road testing.

Through this new branch, the electronics giant “intends to explore entry into the EV market,” it said in a statement.

The Vision-S is packed with internal and external sensors and is used by Sony to test its autonomous driving technologies.

The company is also working on entertainment systems.

The electric vehicle sector is still small, accounting for only about three percent of current sales in the United States but it is attracting a lot of interest and investment.

General Motors has planned to invest more than $35 billion in electric and autonomous vehicles by 2025.

Authorities in the United States plan to spend billions of dollars to strengthen the network of charging stations or encourage individuals to abandon their fossil fuel-powered vehicles.