1. Wayve launches AI driving in Germany
Wayve, a UK-based startup specialising in self-driving technology, has announced the launch of a new testing and development hub in the Stuttgart region of Germany. This strategic move marks a significant milestone in Wayve’s global expansion efforts, following a successful $1.05 billion Series C funding round.
The new hub will focus on advancing Wayve’s AI-powered driving technology, leveraging Germany’s diverse and challenging driving environments, which include high-speed Autobahns, complex urban settings, and winter road conditions. This setting provides an ideal testing ground for refining and validating the company’s automated driving solutions.
Alex Kendall, Co-Founder and CEO of Wayve, expressed his excitement about the expansion: “2025 is a year of global growth for Wayve, and we are incredibly excited to establish operations in Germany. With its rich automotive heritage and deep engineering expertise, Germany is a perfect place to accelerate the development and deployment of AI-powered driving technology. I look forward to partnering with Germany’s world-leading manufacturers and Tier 1 suppliers to bring safe, scalable, and production-ready AI software to vehicles worldwide.”
The hub will also enhance Wayve’s Advanced Driver Assistance System features, such as lane change assistance, and further develop automated driving capabilities for future production-ready solutions. The Stuttgart region, known for its strong automotive innovation ecosystem, offers access to a rich pool of engineering talent, particularly in software development, which is crucial for Wayve’s product advancement.
Dr. Patrick Rapp, State Secretary at the Ministry of Economic Affairs, Labour and Tourism of Baden-Württemberg, welcomed Wayve’s expansion: “The State government very much welcomes the planned settlement of Wayve in Baden-Württemberg. Innovations in the areas of vehicle automation and digitalisation are key drivers of the current structural change in the automotive industry and a basic requirement for maintaining the technological competitiveness of the German automotive industry.”
Wayve’s move into Germany underscores its commitment to advancing AI-driven products for assisted and automated driving, positioning the company at the forefront of the automotive industry’s transformation.
2. TSMC’s $100bn US chip plant investment
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, has announced a monumental $100 billion investment to expand its semiconductor manufacturing capabilities in the United States. This investment will fund the construction of five new advanced fabrication plants, two advanced packaging facilities, and a research and development center, all located in Arizona.
This expansion is part of TSMC’s broader strategy to increase its presence in the US, bringing its total investment in the country to $165 billion. The move aligns with the US government’s efforts to bolster domestic manufacturing and reduce reliance on Asian markets for critical semiconductor supplies.
Economic and Technological Impact
The new facilities are expected to create tens of thousands of high-paying jobs in advanced chip manufacturing and R&D, significantly boosting the local economy. The construction phase alone is projected to support 40,000 jobs over the next four years. Additionally, the expansion is anticipated to generate over $200 billion in indirect economic output across the United States in the next decade.
TSMC’s chips are integral to various high-tech sectors, including smartphones, vehicle electronics, and AI servers. By increasing domestic production, the company aims to enhance the US semiconductor ecosystem and ensure a stable supply of advanced chips for American technology companies such as Apple, NVIDIA, AMD, Broadcom, and Qualcomm.
Strategic Importance
The investment underscores the strategic importance of semiconductor technology in the 21st-century economy. US President Donald Trump, who announced the investment alongside TSMC CEO Dr. C.C. Wei, emphasised the national security implications of this initiative. “Semiconductors are the backbone of the modern economy, and manufacturing them domestically is crucial for our national security and technological leadership,” Trump stated.
Dr. Wei highlighted the role of AI in driving the demand for advanced semiconductors: “AI is reshaping our daily lives, and semiconductor technology is the foundation for new capabilities and applications. With the success of our first fab in Arizona, we are committed to expanding our US investment to support our customers and the broader technology ecosystem.”
Future Prospects
TSMC’s expansion in the US is a significant step towards securing a larger share of the global semiconductor market. The company’s commitment to innovation and collaboration with leading technology firms positions it at the forefront of the industry’s transformation. As the demand for advanced semiconductors continues to grow, TSMC’s investment will play a pivotal role in shaping the future of technology.
3. Collins Aerospace $25m Bengaluru development centre
Bengaluru, India – March 6, 2025 – Collins Aerospace, a subsidiary of RTX Corporation, has inaugurated a state-of-the-art EDTC Engineering Development and Test Centre in Bengaluru, India. This $25 million investment aims to streamline local product development, testing, and certification of aerospace components.
The new 4645-square-meter facility is equipped with advanced testing capabilities to ensure aerospace systems meet global safety and performance standards. These tests simulate harsh operating conditions, including extreme temperatures and electromagnetic interference, allowing for early identification and resolution of potential issues.
Clay Lindwall, Senior Vice President of Engineering and Technology at Collins Aerospace, emphasised the significance of the new centre: “The EDTC will enable faster certification of aerospace components, including ‘Made-in-India’ parts, by global aviation regulators. This move is expected to enhance manufacturing capabilities and reduce costs by eliminating the need to send products abroad for testing and approval.”
Savyasachi Srinivas, Vice President of Global Engineering & Technology Centres, highlighted the strategic importance of this investment: “This centre brings advanced testing capabilities closer to where engineering and manufacturing happen, recognising India’s crucial role in the global supply chain.”
The EDTC will initially support Collins Aerospace’s avionics, advanced structures, interiors, and power & controls businesses. In the future, it will expand to serve all RTX businesses, supporting a broader range of aerospace and defense applications.
Collins Aerospace has been investing in India for over two decades, with a growing footprint that now includes more than 6,000 employees in engineering, digital, manufacturing, operations, and supply chain functions. This new facility reaffirms the company’s commitment to India and its role as a global hub for aerospace innovation.
4. Ghana and Britain announce Africa $50m partnership
By Amoat7 – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=74721041
In a significant move to enhance cross-border trade across Africa’s frontier economies, Ghana International Bank and British International Investment have announced a $50 million partnership. This collaboration aims to address the trade finance needs of several African countries, including Sierra Leone, Liberia, The Gambia, Benin, the Democratic Republic of Congo, Rwanda, and Tanzania.
A Strategic Alliance
Under a Master Risk Participation Agreement the $50 million facility will enable Ghana Bank to support more businesses and facilitate trade flows in the target countries. This initiative addresses the general lack of credit appetite for frontier markets in Africa, which is often due to high risk perception and comparatively lower volumes.
Economic Impact
The partnership is expected to have a profound impact on local businesses by providing the necessary financial support to import essential commodities and equipment. This, in turn, will help sustain and grow these businesses, creating economic opportunities and maintaining the supply of essential goods at reasonable prices.
Statements from Key Figures
Lord Collins of Highbury, the UK’s Minister for Africa, expressed his enthusiasm for the partnership, stating, “I’m delighted to see two UK institutions coming together to strengthen economic ties with Africa. Africa’s trade financing gap is one of the continent’s most pressing challenges, and access to this funding will enable local businesses to trade more with the world, including the UK.”
Kwabena Asante-Poku, Country Director for Ghana at BII, highlighted the importance of trade for African economies, especially in frontier markets. He said, “Enhancing the flow of trade credit and financial intermediation to these markets will ensure access to essential goods and services, which in turn drives sustainable and inclusive economic growth.”
Dean Adansi, Chief Executive Officer of GHIB, emphasised the bank’s deep understanding of African risk and the potential for profitable and impactful transactions through this partnership. “With this deal, we are employing a structure that uses our deep knowledge and access to the market, harnessed together with the superior scale and capacity of BII.”
Conclusion
This $50 million partnership between Ghanaian and British banks represent a significant step towards bridging the trade finance gap in Africa’s frontier economies. By providing much-needed financial support, this initiative will help local businesses thrive, fostering economic growth and development across the continent.
5. Hong Kong’s new budget for tech investment and trade innovation
Arnie Chou
In a bold move to secure its position as a global economic powerhouse, Hong Kong has unveiled an ambitious new budget aimed at boosting technology investment and trade innovation. Announced on February 26, 2025, by Financial Secretary Paul Chan, the budget outlines a comprehensive plan to revitalise the city’s economy, which has faced challenges from global uncertainties and technological advancements.
Key Highlights of the Budget
1. Investment in Artificial Intelligence (AI)
Hong Kong is set to become an international hub for AI research and development. The government has allocated £101 million to establish the Hong Kong AI Research and Development Institute. This initiative aims to foster frontier research and real-world applications, empowering traditional industries to upgrade and transform.
2. Streamlined Regulatory Processes
To attract tech companies, the budget introduces a streamlined regulatory process, making it easier for startups to get off the ground and raise funds. This move is expected to enhance Hong Kong’s competitiveness in the global tech landscape.
3. Trade and Supply Chain Enhancements
The budget emphasises the importance of speed, efficiency, and traceability in supply chains. Measures include tax incentives for key industries such as technology, finance, and real estate, as well as a proposed half-tax concession for commodity traders to boost the shipping sector.
4. Support for Exporters
The Hong Kong Export Credit Insurance Corporation will offer credit insurance for exporters operating multinational supply chains. Additionally, the RMB Trade Finance Liquidity Facility will facilitate trade financing and cooperation with Mainland China.
5. Economic and Fiscal Measures
The budget includes a significant reduction in government spending, with plans to cut up to 10,000 civil servant jobs by 2028. Minor tax increases, including a global minimum tax, will be counterbalanced by tax incentives to stimulate growth in key sectors.
Conclusion
Hong Kong’s new budget represents a strategic effort to navigate the complexities of the modern global economy. By investing in technology and streamlining trade processes, the city aims to maintain its status as a leading international trade hub while fostering innovation and economic resilience.
