Foxconn reduced factory won’t qualify for tax credits without new deal, Wisconsin says

MADISON, Wis. — Wisconsin told Foxconn Technology Group on Monday that it won’t qualify for billions of dollars in state tax credits unless it strikes a new deal for a scaled-back factory complex.

State officials have told Foxconn since last year that it would not qualify for the tax credits without revisions to its 2017 contract because the scope of the envisioned factory has been reduced. President Donald Trump heralded the original deal as a sign of a revitalized American manufacturing economy, calling the envisioned plant “transformational” and the “eighth wonder of the world.”

The deal with Foxconn, the world’s largest electronics manufacturer, was announced by Trump at a White House ceremony and he traveled to Wisconsin in 2018 for the groundbreaking.

Foxconn signed a contract with Wisconsin under then-Gov. Scott Walker in 2017 to earn nearly $4 billion in state and local tax incentives for a $10 billion display

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3D printer rocket ‘factory of the future’

Relativity Space’s third generation 3D-printer in its new headquarters, with CEO Tim Ellis standing by for scale.

Relativity

Rocket builder Relativity Space this summer moved into its new headquarters in Long Beach, California – and already the company is manufacturing the parts it needs for its first launch late next year. 

Relativity is currently building the first iteration of its Terran 1 rocket. But unlike other rockets, Relativity is using multiple 3D-printers, all developed in-house, to build Terran 1. The rocket is designed to have about 95% of its parts be 3D-printed, which allows Relativity’s rocket to be less complex, and faster to build or modify, than traditional rockets. Additionally, Relativity says its simpler process will eventually be capable of turning raw material into a rocket on the launchpad in under 60 days.

While Relativity had made progress testing its 3D-printing technology, the company’s 120,000 square foot headquarters will serve

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Inside Relativity Space’s 3D-printing rocket ‘factory of the future’

  • Rocket builder Relativity Space this summer moved into its new headquarters in Long Beach, California.
  • “The new printers are operational and actually printing our first flight parts right now, so we have several printers building the first rocket we’re actually going to fly to orbit,” Relativity CEO Tim Ellis told CNBC.
  • The company is building the first iteration of its Terran 1 rocket, with about 95% of the parts being 3D-printed.



a lamp next to a window: Relativity Space's third generation 3D-printer in its new headquarters, with CEO Tim Ellis standing by for scale.


© Provided by CNBC
Relativity Space’s third generation 3D-printer in its new headquarters, with CEO Tim Ellis standing by for scale.

Rocket builder Relativity Space this summer moved into its new headquarters in Long Beach, California – and already the company is manufacturing the parts it needs for its first launch late next year. 

Relativity is currently building the first iteration of its Terran 1 rocket. But unlike other rockets, Relativity is using multiple 3D-printers, all developed in-house,

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Musk says Tesla to use new batteries, tech at Berlin factory; flags production risk

Oct 7 (Reuters)Tesla Inc TSLA.O Chief Executive Elon Musk said on Wednesday the company will produce Model Y with a new structural battery design and technology at its Berlin factory next year and that could result in a “significant production risk”.

The U.S. electric carmaker plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Last month, Musk said that Tesla will use its Germany-based plant to demonstrate a radical overhaul of how its cars are built.

The company plans to start the production of Model Y at Gigafactory Berlin during the second half of 2021.

Tesla’s new battery cell – a larger cylindrical format called 4680 that can store more energy and is easier to make – is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by

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EMERGING MARKETS-China factory surveys lift stocks, currencies steady

By Nikhil Nainan

Sept 30 (Reuters)More evidence that China’s economy is rebounding lifted Asia’s emerging stock markets on Wednesday with Malaysia, the Philippines, Singapore and Taiwan all following Shanghai stocks around half a percent higher.

A holiday in South Korea and the start of a week-long break in China on Thursday kept trading subdued, with the action in the U.S. presidential debate late on Tuesday failing to stir much movement from investors globally.

Two surveys showed China’s factory activity, a bellwether for the region, still firmly in growth territory in September.

“The data continues to provide evidence of China’s economic resilience both in the manufacturing and services sector,” Mitul Kotecha, a senior emerging markets strategist at TD Securities, said.

“The strength of the trade components was encouraging, suggesting that exports and imports will continue to improve, which is also positive for the rest of Asia.”

In line

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