Automotive

Ford, battery maker face job requirement for Tennessee plant

Ford Motor Co. and a South Korean company would have to create more than 5,000 full-time jobs at a planned electric pickup truck factory and battery manufacturing plant in Tennessee or pay back at least part of a $500 million ...

Contamination disrupts flash chip output at two Japan plants

Operations at two Japanese factories producing flash memory chips have been disrupted by the contamination of industrial materials, chipmaker Kioxia said Thursday, as analysts warned of potential price hikes for the key smartphone ...

Business

GM venture to build North American battery chemical plant

General Motors is forming a joint venture with Posco Chemical of South Korea to build a North American battery materials plant as it brings more steps in the electric vehicle supply chain under its umbrella.

Automotive

Ford unveils venture with chip company to boost supply

Ford announced Thursday a "strategic collaboration" with chip company GlobalFoundries to bolster its supply of semiconductors as the automaker grapples with a global shortage of the crucial components.

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Joint venture

A joint venture (often abbreviated JV) is an entity formed between two or more parties to undertake economic activity together. The parties agree to create a new entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. The venture can be for one specific project only, or a continuing business relationship such as the Fuji Xerox joint venture. This is in contrast to a strategic alliance, which involves no equity stake by the participants, and is a much less rigid arrangement.

The phrase generally refers to the purpose of the entity and not to a type of entity. Therefore, a joint venture may be a corporation, limited liability company, partnership or other legal structure, depending on a number of considerations such as tax and tort liability.

This text uses material from Wikipedia, licensed under CC BY-SA