• Peter Thiel's Valar Ventures targets $350M for new funds

    5 days ago - By Tech Crunch

    Valar Ventures, one of the three venture funds co-founded by Peter Thiel, has filed paperwork with the U.S. Securities and Exchange Commission to raise $350 million across two new funds. The PayPal co-founder and billionaire investor in Facebook and SpaceX is also behind Founders Fund and Mithril Capital Management.
    Valar , a New York-based firm, plans to raise $150 million for its fifth flagship venture fund and an additional $200 million for its first opportunity fund, presumably for follow-on investments in its most high-growth investments, according to the documents.
    Led by general...
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  • Volkswagen's Pivot to Electric Vehicles Will Bring 1,000 Jobs to Tennessee

    5 days ago - By Fortune

    Volkswagen will bring 1,000 new jobs to Chattanooga, Tenn., as part of its first electric vehicle facility in North America, the company announced Monday.
    The company plans to spend $800 million on a manufacturing facility in the state. Production is expected to begin in 2022. Beyond the direct jobs created, the company expects area automotive suppliers will add employees.
    "The US is one of the most important locations for us and producing electric cars in Chattanooga is a key part of our growth strategy in North America," said Dr. Herbert Diess, CEO of Volkswagen AG. “The management...
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  • VW investing $800M in Tennessee factory to make next-generation electric vehicles

    5 days ago - By Tech Crunch

    Volkswagen will spend $800 million to expand a U.S. factory that will produce the automaker's next generation of electric vehicles.
    The factory in Chattanooga, Tenn. will be the company's North American base for manufacturing electric vehicles, VW CEO Dr. Herbert Diess said during a presentation at the Detroit Auto Show on Monday. The expansion is expected to create 1,000 jobs at the plant.
    VW's Chattanooga expansion is just a piece of the automaker's broader plan to move away from diesel in the wake of the emissions cheating scandal that erupted in 2015. Globally, VW Group plans to commit...
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  • VW CEO says hopes U.S. investments help avoid tariffs against EU

    5 days ago - By Reuters

    Volkswagen's Chief Executive Herbert Diess said an $800 million investment to build a new electric car in Chattanooga, Tennessee should help ease tensions with United States President Donald Trump.
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  • Volkswagen to invest $800 million, build new electric vehicle in U.S

    5 days ago - By Reuters

    Volkswagen AG said on Monday it is investing $800 million to build a new electric vehicle at its plant in Chattanooga, Tennessee, as it shifts toward zero emission vehicles.
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