Aug 27, 2018 3:57 PM WST
Uber’s struggling self-driving program is about to get some new life, thanks to a $500 million investment from Japan’s Toyota Motor Corp. On Monday, Reuters reported that Toyota and Uber will work together on the development of self-driving cars, citing sources familiar with the matter. The equity investment will help advance both Toyota and Uber’s autonomous driving technology.
Aug 17, 2018 3:58 PM WST
In an emotional interview with the New York Times, Tesla CEO Elon Musk opened up about his difficult and stressful year he’s had trying to ramp up production of the Model 3, while simultaneously trying to control the company’s massive cash bleed. On Friday, the electric car maker’s stock fell to its lowest levels in five months.
Aug 13, 2018 4:10 PM WST
A new report suggests trouble is brewing at silicon valley startup Quanergy systems Inc., a company developing solid state lidar for autonomous cars, Bloomberg has reported. Quanergy was one of the first self-driving tech unicorns—reaching a $1.5 billion valuation in 2016.
Aug 08, 2018 4:57 PM WST
Nikola Motor Company has announced it raised more than $100 million this month to help the company launch and scale its hydrogen-powered trucks in 2020. The company’s CEO Trevor Milton announced that he anticipates the current month long $200 million C round will be oversubscribed, after Nikola reached $100 million in new funding in just the first week.
Aug 03, 2018 5:53 PM WST
The Trump administration's tariffs on Chinese imports is threatening U.S. automaker General Motors. The detroit-based automaker is seeking to exempt the China made Buick Envision sport utility vehicle to prevent the key model in the brand’s U.S. lineup from becoming a victim of the U.S. China trade war.
Jul 26, 2018 12:21 PM WST
Although much of the automotive industry has dismissed hydrogen fuel-cell powered cars as commercially inviable and too expensive, Toyota is forging ahead with plans to improve its Mirai, its first fuel cell car. The Mirai was introduced to the U.S. market in 2015. Toyota says it can popularize fuel cell vehicles in part by making them more affordable.
Jul 02, 2018 5:09 PM WST
Uber’s main U.S. rival Lyft is getting into the bike-sharing business, as it looks to expand its transportation options to bikes. Financial terms were not disclosed, but media reports previously suggested that Lyft would pay close to $250 million for Motivate’s bike-sharing business.
Jun 20, 2018 3:37 PM WST
For the past year, city officials in Boston restricted companies testing autonomous technology to less populated, industrial areas of the city. Now that is about to change, as the city is now allowing self-driving cars to roam the streets citywide, including during the morning rush hour.
Jun 15, 2018 5:51 PM WST
Japan’s Honda Motor is joining Baudi’s Apollo autonomous driving platform, a global consortium led by Chinese tech giant Baidu aimed at advancing autonomous driving technology, as China races to become the world’s largest market for autonomous vehicles.
Jun 12, 2018 1:02 PM WST
Chinese automaker Kandi Technologies Group Inc. said it is bringing its electric vehicles to the United States in a joint venture with Sportsman Country LLC, a Dallas-based seller of vehicle products, which Kandi acquired last month.