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
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 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 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
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
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
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
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 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
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
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 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 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
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 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
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
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
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
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
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
Vineeth Joel PatelJun 28, 2020 6:00 AM PT
Vineeth Joel PatelJun 27, 2020 6:00 AM PT
Vineeth Joel PatelJun 26, 2020 4:30 PM PT
FutureCar Staff Jun 26, 2020 2:00 PM PT