Larry Page is secretly investing millions to build flying cars

Larry Page is secretly investing millions to build flying cars

Three years ago, Silicon Valley developed a fleeting infatuation with a start-up called Zee. The company had set up shop right next to Google’s headquarters in Mountain View, California, which was curious, because Google tightly controls most of the land in the area. Then a reporter spotted patent filings showingZee.Aero was working on a small, all-electric plane that could take off and land vertically — a Flying car.

In the handful of news articles that ensued, all the start-up would say was that it wasn’t affiliated with Google or any other technology company. Then it stopped answering media inquiries altogether. Employees say they were even given wallet-size cards with instructions on how to deflect questions from reporters. After that, the only information that trickled out came from amateur pilots, who occasionally posted pictures of a strange-looking plane taking off from a nearby airport.

Turns out, Zee doesn’t belong to Google or its holding company, Alphabet. It belongs to Larry Page, Google’s co-founder. Page has personally funded Zee since its launch in 2010 while demanding that his involvement stay hidden from the public, according to 10 people with intimate knowledge of the company. Zee, however, is just one part of Page’s plan to usher in an age of personalised air travel, free from gridlocked streets and the cramped indignities of modern flight. Like Jeff Bezos and Elon Musk, Page is using his personal fortune to build the future of his childhood dreams. Read more.

Honda Cars hopes BR-V will help clock double-digit growth in FY17

Honda Cars hopes BR-V will help clock double-digit growth in FY17

Japanese automobile major Honda is optimistic of achieving double-digit growth in the current financial year. It is betting big on the BR-V, a compact SUV which would hit the roads in May. The company, which reported two per cent growth in 2015-16, is hoping to increase its footprint with this launch.

The strategy includes expanding its product portfolio and increasing sales points. It is planning to invest Rs 380 crore, to increase capacity in anticipation of higher demand. To support the BR-V, it plans to increase the capacity of its Rajasthan plant to 180,000 units. It also has a plant at Greater Noida with a capacity of 120,000 units. After the expansion at Rajasthan, its total capacity would increase to 300,000 units per annum.

“With the current network, we have covered almost all the market. The environment is challenging and the industry is under pressure, which is why we could grow only by two per cent.” said Jnaneswar Singh, vice-president, sales and marketing, Honda Cars India.

Last year, the growth was driven by compact SUVs, premium hatchbacks and entry sedan segments. The trend is expected to continue. To cater to the premium hatchback segment, Honda has launched the Jazz and for the company SUV segment it would launch the new SUV. The selling quotient for the latter would be style, premium interiors, three rows with seven seats — which the company claims is a first time in the segment, pricing and quality. This is the kind of vehicle in which people can go anywhere, added Sen.Read More