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May 25th, 2017 Car News of the Day: Tesla product sheet leaked, Mark Fields could get $58 million

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【Summary】Car News of the Day for May 25th, 2017.

Original Claire    May 25, 2017 2:56 PM PT
May 25th, 2017 Car News of the Day: Tesla product sheet leaked, Mark Fields could get $58 million

Leaked Tesla product sheet reveals details about Model 3

A member of the Model 3 Owners Club forum who claimed to be an insider source, leaked a product sheet comparing the Model 3 to the Model S, as Inside EVs reports.

The document listed Model 3's 0-60 miles per hour as 5.6 seconds, driving range to be over 215 miles, with overall length of 184.8 inches. However, Model 3 owners are required to pay every time for supercharging, compared with the fact that for Model S owners, is totally free. Many seem to think the document is steering customers toward the more expensive model S.

Tesla's Model 3 is expected to debut in July, with the price starting at $35,000. In April of this year, the car has reportedly received at least 400,000 pre-orders.

Mark Fields will make $57.5 million to step down from Ford CEO

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Despite being ousted by Ford one week after the company's unsatisfying quarterly performance, ex-CEO Mark Field will walk away with a large amount of money. According to Automotive News, the former chief executive of Ford will receive a payout of invested stock awards valued at $29.4 million. Fields will also receive about $17.5 million in retirement benefits, a bonus of $2.1 million, and another $8.1 million in stock options.

He started at Ford in 1989, and was promoted to the position of CEO in July, 2014. During his tenure as CEO, Ford's stock price fell more than 35%. Meanwhile, his strategy of putting much investment on green energy and autonomous vehicles has also led to shareholders' discontent. Jim Hackett replaced Fields this week as Ford's new CEO.

Judge orders Uber to give Waymo unredacted term sheet with Otto

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Magistrate Judge Jacqueline Scott Corley ordered Thursday that Uber needs to hand over to Waymo, by the end of the day, the full, unredacted term sheet between Uber and Otto. Corley decided there was no "basis whatsoever for those redactions to be made and for that information to be withheld from Waymo."

Since the lawsuit began in February, Uber has refused to turn over the due diligence report it conducted ahead of the Otto acquisition, arguing it can't be disclosed as the document contains confidential information. This Wednesday, Judge William Alsup issued a notice stating the privilege logs Levandowski provided to the court did not provide any useful information.

Lyft launches two premium ride hailing options

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Lyft has launched two high-end ride hailing services with Lyft Lux and Lyft Lux SUV. These are black car offerings similar to Uber's Select and Black, and will be available in 20 markets through mid-June.

Eligible cars must be no older than a 2011 model year, have a black painted exterior, and leather seating. For a Lux SUV to be eligible, it needs be able to seat 6 passengers comfortably. The initial rollout is in five US cities, including Chicago, Los Angeles, New York City, San Francisco and San Jose. It will expand gradually into the rest of the 20 markets.

Spin raises $8 million for bike-sharing in US

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San Francisco startup Spin has just closed a $8 million Series A round of funding led by Grishin Robotics, and joined by Exponent.VC, CRCM, and angel investors Mat Brezina and Charlie Cheever.

The company is following China's popular bike-sharing business model to focus on dock-less sharing, meaning renters can park their bicycle anywhere they want. The service will cost $1 for every 30 minutes. Users can scan the QR code labeled on a bicycle through the Spin mobile app, then unlock a bike and start the meter.

The startup will use the money to ramp up hiring and embark on negotiations with different cities to expand its bike-sharing service.


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