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BUSINESS

Twitter buys company from 21-year-old Austrian

A start-up company founded by a 21-year-old Austrian has been bought by Twitter, which has also hired the young technology entrepreneur to work for them in San Francisco.

Twitter buys company from 21-year-old Austrian
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Computer scientist Felix Krause developed his first app for bicycle routes when he was 16-years-old. After completing HTL training at a higher education institute in Wiener Neustadt he went on to study software engineering at the University of Central Lancashire in the UK, which was where he started his company Fastlane.

After recognising problems with releasing and updating iPhone apps, Krause developed software that made testing and releasing app updates as simple as a click of a button.

Following the release of the first version of the software a year ago, he made it open source and then went on to earn money by developing special modifications tailored for different companies.

His programme ended up with around 15,000 daily users, which led to interest from Twitter who offered to collaborate with Krause. Since October, Fastlane has been part of Twitter's mobile development platform Fabric and Krause has relocated to San Francisco to work on his project full time.

Speaking to APA, Krause said: “I'm enjoying it very much, making my project even bigger here in San Francisco.”

Presenting Fastlane at the developer conference Twitter Flight a few weeks ago, Kraus spoke about some of the benefits his software offers for app developers as well as announcing that the software is now available for Android as well as Apple.

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BUSINESS

Germany’s BMW to put €1 billion into electric vehicles in Austria

German auto manufacturer BMW said on Monday it would invest "around one billion euros" in the production of electric vehicles at a plant in Austria from 2025.

Germany's BMW to put €1 billion into electric vehicles in Austria

Altogether, 600,000 units a year should roll off the line at the factory in Steyr under the investment plan, set to run until 2030, BMW said in a statement.

From 2025, BMW will “develop and produce the next generation of e-drives” at the Austrian site, BMW’s production chief Milan Nedeljkovic said.

The refurbishment of the plant will see two new production lines added and the location expanded by 60,000 square metres.

The new facilities would require €710 million in investment, while €230 million would be dedicated to boosting vehicle development at Steyr.

“Around half” the 4,400 employees at the site would be working on “e-mobility” by 2030, plant boss Alexander Susanek said.

The Bavarian manufacturer said it aimed to have two million electric vehicles on the road by 2025, promising 13 new electric models and a revamp of its Mini brand.

BMW has already said it will spend €400 million to upgrade its home factory in Munich to produce electric vehicles.

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