Latest news with #gigafactories
Bloomberg
2 days ago
- Business
- Bloomberg
Reliance Aims to Start Its Green Energy Gigafactories from 2026
Billionaire Mukesh Ambani-led Reliance Industries Ltd. said all its clean energy gigafactories will become operational in four to six quarters, churning out products from solar panels to batteries and electrolyzers to make green hydrogen. The cluster, spread over hundreds of acres in Jamnagar where the company also operates the world's largest petroleum refining complex, will offer attractive return on capital and will help reduce the conglomerate's energy costs by at least a quarter, the company said in a presentation on Friday.
Yahoo
6 days ago
- Automotive
- Yahoo
Grid reform key for decarbonising auto sector: SMMT
Reforms to the UK's energy grid are key to decarbonising the automotive sector in the country, according to the Society of Motor Manufacturers and Traders (SMMT). In its 26th Sustainability Report, the trade body emphasises the automotive sector's strides in reducing its environmental footprint. The report notes a 2.4% decline in energy required for vehicle production and a 6.2% reduction in average new car tailpipe CO₂ emissions. According to the SMMT, UK vehicle plants have achieved a record 60.3GWh of renewable electricity generation, largely due to investments in solar panels and wind turbines. It marks nearly a one-third increase compared to 2023, saving approximately 12,500t of CO₂. However, the rise in electrified models, accounting for 35.4% of UK new car production in 2024, necessitates more clean energy. The SMMT added: 'With new zero-emission models and gigafactories in the pipeline, overall demand for affordable clean energy is set to grow exponentially.' In June, the UK's new car market saw a growth for the second month in a row, with registrations rising by 6.7% to 191,316 units. Last month, EV registrations reached a 48.5% market share, with battery-electric vehicles rising 39.1% to 47,354 units, accounting for 24.8% of the market share. Manufacturers are investing in on-site renewable energy generation to reduce reliance on external sources, but lengthy grid connection timelines, averaging nearly 14 years, pose a challenge. This, SMMT said, requires 'changes to planning and the UK's energy mix'. Meanwhile, the UK is paying the highest electricity prices in Europe, affecting its competitiveness. The government's Industrial Strategy aims to address this, potentially reducing electricity bills by 20%. The proposed relief on standing charges for battery production and other energy-intensive industries should extend to automotive businesses, the trade body said, adding that this would support their role in achieving net zero and improve competitiveness, given the UK's high electricity prices. The automotive sector has made significant progress in developing zero-emission vehicles, decarbonising manufacturing, and investing in skills. With reduced energy costs and improved grid connections, the SMMT believes that the industry could further enhance its low-carbon manufacturing capabilities, fostering job creation and growth in the UK. "Grid reform key for decarbonising auto sector: SMMT" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Tahawul Tech
03-07-2025
- Business
- Tahawul Tech
EU expresses interest in developing AI gigafactories
The European Commission (EC) revealed it received interest from member states in developing AI gigafactories. While the regulator did not name interested companies due to confidentiality, it confirmed responses from a range of stakeholders including European and international tech companies, data centre operators, telecoms providers, energy suppliers and financial investors. According to Reuters, EU tech chief Henna Virkkunen told a press conference that the level of interest received 'exceeds far beyond our expectations', adding that it 'showcases Europe's growing momentum and enthusiasm for innovating in AI in Europe'. The response comes after the EC issued a call for expressions of interest to identify potential consortia and gather early input for the next phase of the continent's AI push. The call, which outlined plans to build across 60 proposed sites, came after the regulator earmarked €20 billion to support the construction of four AI gigafactories earlier this year. These high-capacity compute and storage facilities will support advanced AI model training and are set to play a key role in strengthening the EU's digital infrastructure. Although the consultation did not involve funding or formal commitments, it is set to shape the official call for proposals expected by the end of this year. Source: Mobile World Live Image Credit: Stock Image
Yahoo
30-06-2025
- Business
- Yahoo
Europe's AI gigafactory push attracts 76 bids, EU tech chief says
By Foo Yun Chee BRUSSELS (Reuters) -Seventy-six companies have bid to develop Europe's artificial intelligence gigafactories, the EU's tech chief said on Monday, hailing a bigger than expected response to the bloc's push to catch up with the U.S. and China in this key technology. The European Commission made the announcement four months after it allocated 20 billion euros ($23 billion) in EU funding for the construction of four AI gigafactories across the bloc. Such facilities, in essence large-scale AI computing and data storage hubs, will be equipped with about 100,000 state-of-the-art AI chips. "We got 76 submissions proposing to set up AI gigafactories in 16 member states and across 60 different sites," EU tech chief Henna Virkkunen told a press conference. "And this exceeds far beyond our expectations and this showcases Europe's growing momentum and enthusiasm for innovating in AI in Europe," she said, declining to name the companies because of business confidentiality information. The EU executive said applicants included EU and non-EU companies, among them tech giants, data centre operators, telecoms providers, power suppliers and financial investors. "Together they have now indicated plans to acquire at least 3 million latest generation of AI processors (GPUs) in total," Virkkunen said. The Commission will launch an official call for setting up the AI gigafactories at the end of the year. ($1 = 0.8537 euros)
Asharq Al-Awsat
30-06-2025
- Business
- Asharq Al-Awsat
Europe's AI Gigafactory Push Attracts 76 Bids, EU Tech Chief Says
Seventy-six companies have bid to develop Europe's artificial intelligence gigafactories, the EU's tech chief said on Monday, hailing a bigger than expected response to the bloc's push to catch up with the US and China in this key technology. The European Commission made the announcement four months after it allocated 20 billion euros ($23 billion) in EU funding for the construction of four AI gigafactories across the bloc. Such facilities, in essence large-scale AI computing and data storage hubs, will be equipped with about 100,000 state-of-the-art AI chips, Reuters reported. "We got 76 submissions proposing to set up AI gigafactories in 16 member states and across 60 different sites," EU tech chief Henna Virkkunen told a press conference. "And this exceeds far beyond our expectations and this showcases Europe's growing momentum and enthusiasm for innovating in AI in Europe," she said, declining to name the companies because of business confidentiality information. The EU executive said applicants included EU and non-EU companies, among them tech giants, data centre operators, telecoms providers, power suppliers and financial investors. "Together they have now indicated plans to acquire at least 3 million latest generation of AI processors (GPUs) in total," Virkkunen said. The Commission will launch an official call for setting up the AI gigafactories at the end of the year.
