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The recipients of the investments include the Pulitzer Center, Report for America, Knight-Lenfest Local News Transformation Fund, the Local Media Association and Local Media Consortium, the American Journalism Project and the Community News Project mechanical cufflinks uk. Fran Wills, CEO of the Local Media Consortium, an alliance of 80 news companies representing 2,200 outlets, said Facebook is helping the group create a branded content program aimed at attracting new advertisers. “Facebook is making this investment to help support local media companies .. open up new revenue streams that will support local journalism,” she said..

(This Jan. 11 story corrects second to last paragraph to reflect that Tencent, and not Geely, is an investor in WM Motor). By Paul Lienert mechanical cufflinks uk. DETROIT (Reuters) – Corporate investors from outside the auto industry are placing increasing bets on electric vehicles, vying with automakers and suppliers to bankroll startup companies working on everything from advanced batteries to charging devices and all-new EVs. Some 250 startups involved in some aspect of electrification have attracted more than $20 billion in venture capital, notably from a broad array of corporations across multiple industries, according to a Reuters analysis of publicly available data..

“Electrification will set off a number of economic changes in the traditional value chain in and around vehicles,” said Reilly Brennan, managing director of San Francisco-based Trucks Venture Capital mechanical cufflinks uk. Because of those changes, in addition to funding EV development, investors see revenue opportunities in related markets, such as consumer products and home energy, Brennan said. Such opportunities are underpinned by steady improvements in lithium-ion batteries’ energy, prompting forecasts for a surge in fleet electrification amid global efforts to fight fuel consumption and emissions from traditional internal combustion engines..

Big oil companies such as BP PLC and Royal Dutch Shell PLC see EV-related investments partly as a hedge against dwindling demand for fossil fuels for privately owned vehicles, according to venture investor Evangelos Simoudis, managing director of Synapse Partners. But they also see an opportunity to provide electric vehicle charging at fuel stations that now dispense gasoline and diesel. Simoudis, who advises corporate executives on new mobility innovation strategy, said aerospace companies have a vested interest, too, in startups working on advanced battery systems: “Boeing and Airbus are both working on electric planes.” mechanical cufflinks uk.

Large telecommunication companies such as Verizon Communications Inc will play a role in connected electric vehicles, while semiconductor makers such as Intel Corp and Qualcomm Inc see their computer chips being used in an increasing number of applications in future electric and self-driving vehicles, Simoudis added. Far and away the most active corporate investor in electrification so far is Intel, which has backed battery startups Prieto, Qnovo and Enovix and charging startups WiTricity and Chargifi mechanical cufflinks uk.