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May 23 2012 18:03
Facebook and banks are being sued by Facebook's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its initial public offering.
May 23 2012 15:59
Finance Minister Pravin Gordhan has made an unusual appeal to the Constitutional Court in a bid to set aside the high court order halting e-tolling.
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Cape Town - A team from six different ministerial
departments is to evaluate the options for the government to invest in the commercialisation of the South African-designed battery-driven electric car.
The car - called the Joule by its design team - was unveiled last October at the Paris Motor Show, and has already been given a resoundingly warm welcome by Mosibudi Mangena, the science and technology minister.
Speaking at the South African launch of Joule, Mangena said that the launch of this vehicle was a watershed moment in terms of South African innovation. He further believed that the production of this car was poised to enter a multi-million industry.
The zero-emission Joule is a six-seater multi-purpose vehicle and Cape Town-based Optimal Energy has spent over two years and R50m in funding from the National Research Foundation's innovation fund developing the car. SA's first electric car is designed by SA-born Keith Helfet, designer of the Jaguar XJ-220 supercar - for a time the world's fastest car
- and the XK-180 and F-Type Concept cars.
Kobus Meiring, head of Optimal Energy, and formerly of Denel Aviation and the Sutherland African Large Telescope project, said at the launch that urban transport played a major role in energy wastage and climate-changing
pollution.
"Joule is Optimal Energy's solution to change that. We have
capitalised on the opportunity presented by the exponential increase in oil costs and the dramatic improvement in battery price, life and performance."
He reckoned the production of the new all-electric vehicle would start towards the end of 2010.
- I-Net Bridge