Velodyne Lidar Removes its Founder as Chairman Following Internal Investigation

San Jose, California-based lidar developer Velodyne Lidar Inc., one of the most well known lidar companies in Silicon Valley, has removed its founder David Hall as Chairman following an internal investigation. Also removed from her position as marketing chief was Hall’s wife Marta Thoma Hall. The investigation surrounds their dealings with the board and company practices, Reuters reported.

Eric Walz2021-03-31 11:45 PT

Volkswagen-backed EV Battery Maker QuantumScape to go Public at $3.3 Billion Valuation

Silicon Valley-based battery maker QuantumScape will become the latest company tuning to Wall Street to raise capital this year in a reverse merger deal with Kensington Capital Acquisition Corp.(NYSE: KCAC), a special purpose acquisition company (SPAC). The deal will result in Volkswagen-backed QuantumScape becoming a publicly listed company with an enterprise value of $3.3 billion.

Eric Walz2020-10-10 12:05 PT

Amazon Signs Agreement to Buy Self-Driving Startup Zoox for More Than $1 Billion

E-commerce giant Amazon is making its first big investment in self-driving technology and announced it signed an agreement to purchase Silicon Valley-based self-driving startup Zoox. The company developed an autonomous bi-directional vehicle from the ground up, as well as the entire software stack that controls it.

Eric Walz2020-08-02 09:00 PT

Volkswagen to Invest Up to $200 Million in Silicon Valley Battery Developer QuantumScape

Volkswagen announced today that it’s increasing its stake in Silicon Valley solid-state battery developer QuantumScape. The automaker is making an additional investment of up to $200 million in the company to further develop solid-state batteries for its future electric vehicles.

Eric Walz2020-07-23 13:50 PT

Autonomous Driving Startup Zoox Agrees to Settle Lawsuit Filed By Tesla Over Stolen IP

Silicon Valley-based autonomous vehicle developer Zoox, a company developing bi-directional self-driving shuttles for a planned commercial robotaxi service, has agreed to settle a lawsuit filed by electric carmaker Tesla. Tesla filed its suit in March of last year accusing four Zoox employees of taking proprietary documents.

Eric Walz2020-05-22 13:25 PT

Volvo’s Venture Capital Arm Invests in Silicon Valley VC Firm Autotech Ventures

Volvo Group Venture Capital AB announced an investment in Autotech Ventures, a Silicon Valley venture capital firm focused on start-ups in the transportation sector working on autonomous driving and other mobility technology.

Eric Walz2020-01-15 11:10 PT

Apple’s Hometown to Launch On-Demand Public Transit Service in Partnership With Via

The city of Cupertino, California, which is the home of tech giant Apple, is launching a new on-demand public transit system together with on-demand transportation company Via. New York-based Via is working to reinvent public transit from a rigid system of fixed routes and schedules to a dynamic, on-demand network similar to how people hail a ride with Uber of Lyft.

Eric Walz2019-11-13 10:25 PT

Autonomous Car Startup Aurora Plans Large Expansion in Silicon Valley

Aurora is planning a move to Mountain View to a building that will see the company lease 111,000 square feet, up from its current footprint of 30,000 square feet in Palo Alto.

Vineeth Joel Patel2019-09-01 10:15 PT

Apple Buys Self-Driving Shuttle Startup Drive AI

Computer giant Apple Inc on Tuesday confirmed that it has acquired Silicon Valley-based self-driving shuttle firm Drive.ai.

FutureCar Staff 2019-08-02 00:45 PT

Lyft Valued $24.3 Billion Ahead of Tomorrow’s IPO, Becoming the First Ride-Hailing Company to Go Public

Lyft Inc. will become the first ride-hailing company to go public. Ahead of its Friday IPO, Lyft is reportedly pricing its stock at $72 per share, according to the New York Times. A price of $72 per share would value the ride-hailing firm at $24.3 billion.

FutureCar Staff 2019-05-04 18:44 PT

Amazon Enters the Self-Driving Car Space with Investment in Aurora

Silicon Valley self-driving startup Aurora Innovation Inc. has secured an additional $530 million in its latest Series B funding round. Participating in the investment round is retail giant Amazon. The latest funding values the startup at $2.5 billion and will help Aurora to further develop its autonomous driving technology.

Eric Walz2019-03-16 14:26 PT

Tencent is Recruiting for an Autonomous Driving Team in Silicon Valley

Tencent is looking to assemble a autonomous driving team in Silicon Valley. The company posted an advertisement on the business networking site LinkedIn to recruit autonomous driving engineers and researchers in the U.S.

FutureCar Staff 2018-12-14 15:31 PT

Renesas to Buy Silicon Valley-Based Integrated Device Technology Inc for $6.7 billion

Japan’s Renesas Electronics Corp said it had agreed to buy Silicon Valley-based Integrated Device Technology Inc (IDT) for $6.7 billion, its second major acquisition as it looks to develop semiconductors and sensors used for self-driving cars.

FutureCar Staff 2018-10-18 13:18 PT

HOZON Auto Launches R&D Center in Silicon Valley to Explore Autonomous Driving

Chinese automaker HOZON Auto has officially opened its Autonomous Vehicle Research Center in Silicon Valley, marking a step-forward in building out its global strategic R&D layout.

Eric Walz2018-05-24 11:26 PT

Volvo Announces 'Volvo Cars Tech Fund' to Assist Automotive Technology Start-Ups

Volvo Cars, the premium car maker, has launched a new investment fund aimed at investing in high potential technology start-ups in Silicon Valley and around the globe. The aim of the fund is to invest in strategic technology trends that are transforming the automotive industry, including autonomous driving.

Eric Walz2018-04-06 12:28 PT

The Silicon Valley International Auto Show Kicks Off in San Jose

Global automakers including Toyota, Hyundai, Ford and Mazda are showing off their latest models this weekend at the Silicon Valley Auto Show being held at the San Jose McEnery Convention Center in San Jose, California.

Eric Walz2018-02-11 17:29 PT

Arizona, Not Silicon Valley, is Calling Technology Companies

Arizona is experiencing a new wave of settlers in the form of technology companies that are moving from Silicon Valley to find a place to test their autonomous vehicles.

Vineeth Joel Patel2017-09-25 14:00 PT

The Autonomous-Car Battle is Blurring Lines Between Major Players

The autonomous-car battle shouldn’t be Silicon Valley versus Detroit, it should be technology companies working hand-in-hand with automakers, reports The Detroit News.

Vineeth Joel Patel2017-08-29 09:10 PT

Baidu Working on China’s Future Self-Driving Cars From Silicon Valley

Baidu, China's leading Internet search company, is set to announce the first vehicle manufacturing partners for its self-driving software in Beijing, the result of work that is happening 6,000 miles away in Silicon Valley, where other Chinese companies are busy developing and funding software and hardware to power internet-connected, autonomous vehicles.

Eric Walz2017-08-06 13:25 PT

Porsche opening a new “innovation center” in Silicon Valley

Luxury automaker Porsche is opening a new satellite office in Santa Clara, to help it get better connected to Silicon Valley’s startup and venture capital scene, and the region’s rapidly growing automotive technology industry.

Eric Walz2017-06-11 10:07 PT