May 4th, 2017 Car News of the Day: Go-Jek raises $1.2 billion, Elon Musk talks about Model Y

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【Summary】Car News of the Day for May 4th, 2017.

Original Claire    May 04, 2017 3:13 PM PT
May 4th, 2017 Car News of the Day: Go-Jek raises $1.2 billion, Elon Musk talks about Model Y

Indonesian Uber rival Go-Jek raises $1.2 billion led by Tencent

According to TechCrunch, the motorbike on-demand start-up Go-Jek in Indonesia has recently collected a new round of $1.2 billion, led by Chinese tech giant Tencent, valuing the company at $3 billion. The two parties sealed the deal last week, however, both declined to comment at this time.

Go-Jek raised $550 million as of August, 2016. One source told TechCrunch that Alibaba and its financial service company Ant Financial also held talks with the startup, but failed to reach an agreement.

The company claims to have over 200,000 drivers across 25 cities in Indonesia. It started out as bike taxi business, as two-wheeled bikes are more convenient for navigating congested city streets. The company then added it's GoCar private car services and partnered with the taxi firm Blue Bird. Meanwhile, Uber and Grab have also introduced motorbike taxi services in Indonesia to grab some of the market share.

Elon Musk reveals more details about Model Y

elon musk tesla.jpgElon Musk spoke on Tesla's investor call today that the company is building a new vehicle platform for its upcoming crossover vehicle Model Y. He further mentioned that the Model Y is expected to hit assembly lines in 2020, or possibly as early as 2019.
Building a new platform takes long time as vehicles need to share key components to improve margins and reduce manufacturing costs. The Tesla Model X SUV is built on Model S platform. Building a new one for Model Y indicates Tesla's plan to debut its next-generation vehicles.

Musk also mentioned that the 12-volt battery architecture used in Tesla's vehicles will be eliminated, to reduce the amount of wiring and manufacturing process, ultimately saving costs.

Intel launched new Autonomous Driving Garage in San Jose

intel-autonomous-driving-garage147a1048.jpgIntel is adding one more self-driving facility in San Jose, California. Currently Intel has three other autonomous driving garages located in Arizona, Portland Oregon, and Berlin Germany. The move is to ensure that the company will have a strong presence in Silicon Valley, an important hub for autonomous technology.  On Wednesday May 2nd, Intel introduced the first vehicle of its self-driving test fleet with partner BMW.

The new research facility, which is spacious enough to house four vehicles, will mainly be used to help process a significant volume of driving data, and strengthen Intel's existing efforts on autonomous vehicles in Arizona. Other strong competitors in the emerging state include Waymo and Uber, where both companies operate facilities for self-driving technology.
Colorado ready to ban rolling coal

hqtehyu1gls7uiucutkk.pngThe Colorado state government has passed a bill to ban the practice of "rolling coal" in diesel vehicles. The bill will now go to the governor to sign into law. The term "rolling coal" refers to intentionally added more diesel fuel to the engine which results in excessive black smoke being emitted out of the exhaust in a diesel truck.

It is routinely done by installing an illegal device called a  "smoke switch", which allows the engine to suck in more diesel fuel to make the exhaust of a diesel powered vehicle emit billowing clouds of thick black smoke. According to some, the installation of such a device is for entertainment. However, It is often used for protest, or to intentionally to annoy people. The state agrees that this practice is extremely environmentally unfriendly. The new measure will make rolling coal a Class A offence with the penalty of $100 fine.

Ferrari surged profit benefited from its priciest models

140127123753-luxury-car-sales-ferrari-1024x576.jpgFerrari NV's first-quarter profit jumped 36 percent, as a result of demand for its most expensive models. The $2.1 million LaFerrari Aperta convertible and other special editions created for the company's 70th anniversary are in the list, showing that Ferrari's sports cars are getting more attention from extremely wealthy buyers.

The earnings has reached to 242 million euros compared with 178 million euros last year, according to a statement released by Ferrari today. To meet the demand, the Italian supercar company will change its self-imposed production limit of 7000 cars to 9000 by 2019.

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