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Swedish start-up secures funds for battery 'gigafactory'

Swedish start-up Northvolt Wednesday announced it had secured funding, in large part from Volkswagen, for Europe's biggest car battery factory, set to rival electric carmaker Tesla's US "Gigafactory".

Toyota, Panasonic form joint venture in housing for Japan

Japanese automaker Toyota and electronics giant Panasonic are forming a joint venture combining their housing businesses in Japan to showcase technologies such as connected cars and the internet of things.

Uber wins $1bn investment from Toyota, SoftBank fund

Japanese car giant Toyota and investment fund SoftBank Vision Fund on Friday unveiled an investment of $1 billion in US company Uber to drive forward the development of driverless ridesharing services.

BMW to recall 360,000 China cars over Takata airbags

Germany's BMW will recall 360,000 vehicles in China as part of the worldwide effort to root out defective airbags made by now-defunct Japanese supplier Takata, regulators in Beijing said.

UK budget airline Flybe snubs counter-bid

Ailing no-frills British airline Flybe on Wednesday rejected a counterbid and repeated its backing for a takeover from a consortium led by Britain's Virgin Atlantic.

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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.

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