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Online Car Retailer Vroom Raises $467.5 Million in its U.S. IPO

Online Car Retailer Vroom Raises $467.5 Million in its U.S. IPO

Online car retailer Vroom raised $467.5 million in its U.S. initial public offering on the NASDAQ, the company said, as the IPO market picks up momentum after the global coronavirus pandemic virtually shut down new and used car sales. The IPO values the company at $2.48 billion.

FutureCar Staff Jun 09, 2020 2:35 PM PT     

VTOL Aviation Startup Lilium Completes $35M Funding Round from Investment Firm Baillie Gifford

VTOL Aviation Startup Lilium Completes $35M Funding Round from Investment Firm Baillie Gifford

Munich-based aviation startup Lilium announced on Monday a $35 million investment management partnership which adds UK-based investment management firm Baillie Gifford as a new investor. The partnership extends Lilium's current funding round to more than $275 million, and more than $375 million to date to fund the development of its VTOL aircraft.

Eric WalzJun 09, 2020 11:20 AM PT     

Volkswagen Replaces CEO Herbert Diess After Vehicle Delays & Clashes with Labor Unions

Volkswagen Replaces CEO Herbert Diess After Vehicle Delays & Clashes with Labor Unions

​Volkswagen AG Chief Executive Officer Herbert Diess ceded direct control of the German automaker's main passenger-car brand after clashing with labor unions over production issues affecting two key models. Diess was serving a dual role as chairman of the board of management of Volkswagen Group as well as the chairman of the board of management of the Volkswagen Passenger Cars brand.

FutureCar Staff Jun 08, 2020 1:05 PM PT      

Germany Planning to Double its Climate Protection Surcharge on Gas Guzzling Vehicles in 2021

Germany Planning to Double its Climate Protection Surcharge on Gas Guzzling Vehicles in 2021

Germany is planning to double its climate protection surcharge on gas-guzzling vehicles, such as large SUVs, to encourage people to switch to more efficient cars and EVs.

Eric WalzJun 08, 2020 9:00 AM PT    

Pre-orders for Tesla’s Made-in-China Model Y Are Officially Open

Pre-orders for Tesla’s Made-in-China Model Y Are Officially Open

Tesla has added a Model Y to its online vehicle configurator in China and the automaker is currently taking pre-orders for the new all-electric crossover.

Manish KharintaJun 07, 2020 8:00 AM PT

Amazon Close to Finalizing its Purchase of Autonomous Vehicle Startup Zoox

Amazon Close to Finalizing its Purchase of Autonomous Vehicle Startup Zoox

According to a Wall Street Journal report, Amazon is close to finalizing a deal with self-driving car company Zoox that would give the enormous tech company a foothold in the autonomous race.

Vineeth Joel PatelJun 06, 2020 7:00 AM PT   

Samsung Submits Patent Application for VR Eyeglasses That Can Display Turn-by-Turn Navigation for Drivers

Samsung Submits Patent Application for VR Eyeglasses That Can Display Turn-by-Turn Navigation for Drivers

Electronics company Samsung came up with a unique solution that may one day help drivers more safety navigate. The company applied for a patent for a pair of virtual reality (VR) glasses that projects turn-by-turn navigation directly onto the lenses in for the driver.

FutureCar Staff Jun 05, 2020 3:45 PM PT     

Toyota Establishes a New Hydrogen Fuel Cell Joint Venture with Chinese Auto Firms

Toyota Establishes a New Hydrogen Fuel Cell Joint Venture with Chinese Auto Firms

​Japan’s Toyota Motor Corp is doubling down on its commitment to the development of hydrogen fuel cell vehicles. The automakers announced a new venture on Friday with Chinese automakers FAW Group, Dongfeng Motor, Beijing Automotive, GAC and hydrogen fuel cell developer Beijing SinoHytec. The joint venture will primarily focus on the development of fuel cell systems for commercial vehicles in China.

FutureCar Staff Jun 05, 2020 11:00 AM PT       

Hydrogen & Electric Truck Startup Nikola Motor Co Debuts on the Nasdaq After Merger with VectoIQ

Hydrogen & Electric Truck Startup Nikola Motor Co Debuts on the Nasdaq After Merger with VectoIQ

Hydrogen fuel cell truck startup Nikola Motor Company has completed its previously announced reverse merger with VectoIQ Acquisition Corp. As part of the reverse merger, Nikola Motor Company​ becomes a publicly traded company. The listing on the NASDAQ could value Nikola Motors around $11 billion, as its looks to compete with Tesla and others to dominate zero emissions long-haul truck segment.

Eric WalzJun 04, 2020 3:15 PM PT       

General Motors is Developing an Electric Van for Business Customers to Stave Off Tesla

General Motors is Developing an Electric Van for Business Customers to Stave Off Tesla

U.S. automaker General Motors is developing a fully-electric van aimed at business users, including shipping companies. The van will be built at the automaker’s Detroit-Hamtramck plant in Michigan. GM does “don’t want to leave the door open for Tesla” as they did in consumer passenger cars, sources say.

Eric WalzJun 04, 2020 9:45 AM PT        

Fiat is Testing Geofencing That Will Automatically Switch Hybrid Vehicles to Electric Mode in the City of Turin

Fiat is Testing Geofencing That Will Automatically Switch Hybrid Vehicles to Electric Mode in the City of Turin

Automaker Fiat Chrysler Automobiles (FAC) is launching a pilot that will automatically switch its hybrid vehicles to electric mode whenever a driver enters a geofenced zone in the city of Turin. The goal of the pilot is to help reduce emissions and greenhouse gases in the city.

Eric WalzJun 03, 2020 3:45 PM PT     

Electric Truck Startup Bollinger Motors Awarded U.S. Patent for its Radical Passthrough & ‘Frunkgate’

Electric Truck Startup Bollinger Motors Awarded U.S. Patent for its Radical Passthrough & ‘Frunkgate’

Electric truck startup Bollinger Motors was awarded a U.S. patent for its radical new passthrough and “frunk” design with a front grill that opens like a conventional pickup truck tailgate. The “Frunkgate” refers to the fold-down portion on the front of the truck, similar to a tailgate and it's built into the Bollinger Motors B1 SUV and B2 pickup trucks.

FutureCar Staff Jun 03, 2020 11:10 AM PT     

Electric Brand Polestar Opening New ‘Polestar Spaces’ in China as it Prepares to Compete with Tesla

Electric Brand Polestar Opening New ‘Polestar Spaces’ in China as it Prepares to Compete with Tesla

Electric performance car brand Polestar its expanding its retail presence in China as the company looks to compete with U.S. electric automaker Tesla in the world’s biggest auto market. Polestar plans to open around 20 “Polestar Spaces” where prospective owners can check out the company’s electric vehicles up close and in a zero pressure environment.

FutureCar Staff Jun 02, 2020 3:25 PM PT         

Volkswagen Closes on its $2.6 Billion Investment in Self-Driving Startup Argo AI

Volkswagen Closes on its $2.6 Billion Investment in Self-Driving Startup Argo AI

In one of the biggest collaborations in the auto industry for the development of self-driving cars, German automaker Volkswagen announced it closed on its $2.6 billion investment in Argo AI, the autonomous driving startup majority-owned by U.S. automaker Ford Motor Co.

Eric WalzJun 02, 2020 10:50 AM PT        

Chinese Battery Maker BYD to Supply EV Batteries to Ford Motor Company

Chinese Battery Maker BYD to Supply EV Batteries to Ford Motor Company

Chinese battery maker BYD Co Ltd (BYD), will supply EV batteries to U.S. automaker Ford Motor Co, a document on the website of the Ministry of Industry and Information Technology showed on Monday. Ford’s China joint venture with Changan Automobile is currently seeking government approval to build a plug-in hybrid model equipped with BYD’s batteries, according to the document.

Eric WalzJun 01, 2020 2:05 PM PT       

Mercedes-Benz Officially Launches the EQV, its First Fully-Electric Passenger Van With a 100 kWh Battery

Mercedes-Benz Officially Launches the EQV, its First Fully-Electric Passenger Van With a 100 kWh Battery

The Mercedes-Benz EQV 300, the automaker's first fully-electric passenger van, is officially on sale in Germany. The electric van comes with a 100 kWh battery pack and here's what you need to know.

Manish KharintaJun 01, 2020 11:55 AM PT

GM, Tesla in a Race for 1 Million-Mile Battery

GM, Tesla in a Race for 1 Million-Mile Battery

Tesla isn’t the only automaker that’s working on a battery capable of lasting 1 million miles. A top executive at General Motors claims the American brand is also looking into coming out with similar technology.

Vineeth Joel PatelMay 31, 2020 8:00 AM PT   

23 States Sue Trump Administration Over Revised Fuel Economy Regulations

23 States Sue Trump Administration Over Revised Fuel Economy Regulations

California leads the lawsuit, which claims the Trump Administration’s decision to roll back fuel economy regulations violates numerous laws.

Vineeth Joel PatelMay 30, 2020 6:05 AM PT  

Volkswagen's Board Approves Multi-Billion Dollar Alliance with Ford to Develop Electric & Commercial Vehicles

Volkswagen's Board Approves Multi-Billion Dollar Alliance with Ford to Develop Electric & Commercial Vehicles

German carmaker Volkswagen AG said on Thursday its supervisory board had approved several projects in a multibillion-dollar alliance with U.S. automaker Ford Motor Co that was first announced last July. The collaboration between the two automakers is one of the biggest partnerships of its kind in the auto industry.

FutureCar Staff May 29, 2020 10:30 AM PT     

How Mercedes Benz is Keeping Drivers Safe Using ‘Car-to-X’ Communication Technology

How Mercedes Benz is Keeping Drivers Safe Using ‘Car-to-X’ Communication Technology

One of the more recent technologies to emerge for passenger cars is vehicle-to-vehicle (V2V) communications and vehicle-to-infrastructure (V2X) communications. Beginning in 2017, all Mercedes-Benz E-Class models have come standard with the automaker’s Car-to-X communication technology. The feature is now showing up in other Mercedes-Benz vehicles, including in the 2020 Mercedes-Benz C-Class sedan.

Eric WalzMay 28, 2020 1:15 PM PT       

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