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The Solterra SUV Will Be Subaru’s First Electric Model

The Solterra SUV Will Be Subaru’s First Electric Model

​Subaru recently released teaser images of its first electric vehicle, which will be called the Solterra. Here’s what you need to know about the upcoming electric crossover co-developed with Toyota.

Manish Kharinta2021-05-17 10:45 PT

Ride-Hailing Company Lyft Sells its Self-driving Unit to Toyota’s Woven Planet Holdings for $550 Million

Ride-Hailing Company Lyft Sells its Self-driving Unit to Toyota’s Woven Planet Holdings for $550 Million

Ride-hailing company Lyft Inc is following in the footsteps of its primary rival Uber Technologies and will no longer develop its self-driving technology in house. The San Francisco-based company announced on Monday that its selling its autonomous driving unit Level 5 to Toyota subsidiary Woven Planet Holdings Inc (“Woven Planet”) for $550 million. Woven Planet is tasked with developing autonomous driving and other advanced mobility technology for Toyota.

FutureCar Staff 2021-04-26 15:35 PT

Self-Driving Technology Developer Aurora to Partner with Volvo on Autonomous Long-Haul Trucks

Self-Driving Technology Developer Aurora to Partner with Volvo on Autonomous Long-Haul Trucks

Volvo Group is partnering with Silicon Valley autonomous driving developer Aurora to accelerate the commercialization of autonomous Class 8 trucks for highway long-haul freight delivery in North America. As part of the partnership, Aurora will supply its “Aurora Driver” autonomous driving software stack that will be added to the trucks from Volvo.

Eric Walz2021-03-30 14:30 PT

Autonomous Driving Startup Pony.ai Completes its Latest $367 Million Series C Funding Round

Autonomous Driving Startup Pony.ai Completes its Latest $367 Million Series C Funding Round

Autonomous driving startup Pony.ai, which was founded in Fremont, California with the goal of building the safest and most reliable autonomous driving technology, announced it closed on a $367 million in a Series C funding round. The latest funding round values the company at roughly $5.3 billion as it looks to launch a commercial robotaxi service in China.

FutureCar Staff 2021-02-08 13:40 PT

China to Reduce Tariffs on Imported Hydrogen Fuel Cell Components to Boost Development of the Technology

China to Reduce Tariffs on Imported Hydrogen Fuel Cell Components to Boost Development of the Technology

China will lower tariffs on fuel cell-related components imported to the country in 2021 to promote development of the technology. The tariffs on imported fuel cell-related compressors, circulating pump and carbon electrodes will be cut to 5%, 2% and 5% respectively, from the current tariffs of 7%, 7% and 10%, according to a document the Customs Tariff Commission of the State Council issued this month.

FutureCar Staff 2020-12-28 15:15 PT

Autonomous Driving Startup Pony.ai Raises $267 Million in Latest Funding Round

Autonomous Driving Startup Pony.ai Raises $267 Million in Latest Funding Round

Autonomous driving startup Pony.ai, which is backed by Japan’s Toyota Motor Corp. and is working with the automaker on self-driving technology, has raised another $267 million in its latest funding round. Pony.ai’s latest funding round follows a $462 million investment led by Toyota in February.

Eric Walz2020-11-06 09:55 PT

Toyota Research Institute-Advanced Development to Form $800 Million Investment Fund for Advanced Mobility

Toyota Research Institute-Advanced Development to Form $800 Million Investment Fund for Advanced Mobility

Toyota Motor Corp.’s Toyota Research Institute - Advanced Development, Inc. (TRI-AD) announced that it will create an $800 million global growth-stage investment fund called Woven Capital L.P. The new fund will invest in growth-stage companies that are developing innovative technologies and mobility related business models, including autonomous driving technology, automation, artificial intelligence, machine learning, data and analytics, connectivity, and smart cities.

Eric Walz2020-09-11 11:15 PT

Toyota is Forming a New Software Company to Develop Autonomous Driving Technology

Toyota is Forming a New Software Company to Develop Autonomous Driving Technology

Japan's Toyota Motor Corp. announced on Tuesday that its Toyota Research Institute Advanced Development, Inc (TRI-AD) will expand its operations into a new holding company with two subsidiaries. The holding company will implement and scale autonomous driving technologies and advanced mobility initiatives for Toyota.

FutureCar Staff 2020-07-29 10:45 PT

Tesla Reports Better Than Expected Q2 Deliveries, Stock Reaches an All-Time High

Tesla Reports Better Than Expected Q2 Deliveries, Stock Reaches an All-Time High

One day after electric automaker Tesla became the world’s most valuable automaker with a market cap of $206 billion, the California automaker reported vehicle deliveries which beat analysts expectations, sending the company’s stock to record highs. Shares of Tesla jumped by $85 in early trading on Thursday to $1,204, the highest stock price since Tesla became a public company in 2010.

FutureCar Staff 2020-07-02 11:00 PT

Automakers Honda & Nissan to Furlough Nearly 30,000 U.S. Workers as New Car Sales Plummet

Automakers Honda & Nissan to Furlough Nearly 30,000 U.S. Workers as New Car Sales Plummet

Automakers Honda and Nissan announced on Tuesday the furlough of thousands of workers in the U.S. as the coronavirus pandemic brings the U.S. economy to a virtual standstill. Honda already suspended it operations on March 23 and now the company says its U.S. plants will be closed until May 1. The furlough affects around 30,000 workers in total.

Eric Walz2020-04-07 11:00 PT

Autonomous Driving Startup Pony.ai Receives $400 Million Investment from Toyota

Autonomous Driving Startup Pony.ai Receives $400 Million Investment from Toyota

Autonomous driving startup Pony.ai announced today it received a $400 million investment from Toyota. The investment will help to strengthen and expand its collaboration with Toyota on self-driving cars.

FutureCar Staff 2020-02-26 15:45 PT

Toyota Joins Forces With Panasonic to Jointly Develop EV Batteries

Toyota Joins Forces With Panasonic to Jointly Develop EV Batteries

The joint partnership will see Toyota and Panasonic develop and manufacture prismatic lithium-ion batteries for electric vehicles, which will also be available for other automakers to purchase.

Vineeth Joel Patel2020-02-09 09:00 PT

Chief Executive Officer of Toyota Motor North America Announces His Retirement

Chief Executive Officer of Toyota Motor North America Announces His Retirement

Toyota Motor North America (TMNA) announced today changes in its executive leadership designed to sustain its automotive operations and continue its transformation in the mobility space as its CEO announces his retirement.

Eric Walz2019-12-11 18:05 PT

Toyota Believes There’s No Market for EVs Yet

Toyota Believes There’s No Market for EVs Yet

In a recent interview, Toyota’s sales and marketing chief claims that the demand for electric vehicles isn’t there yet, which explains why the Japanese brand still doesn’t have a battery-powered car in its lineup.

Vineeth Joel Patel2019-12-09 07:00 PT

Toyota's Luxury Brand Lexus to Debut its First Electric Vehicle

Toyota's Luxury Brand Lexus to Debut its First Electric Vehicle

Unsurprisingly, the debut is scheduled to be made in China where the electric car is expected to be popular.

Vineeth Joel Patel2019-11-18 06:00 PT

GM Open to Work with Other Automakers on Electric Vehicles, CEO Says

GM Open to Work with Other Automakers on Electric Vehicles, CEO Says

General Motors is open to working with other automakers on the development of electric vehicles, Chief Executive Mary Barra said on Thursday.

FutureCar Staff 2019-08-02 11:57 PT

Toyota, Volvo Lead $31 Million Investment in AI-based Vehicle Inspection Startup UVeye

Toyota, Volvo Lead $31 Million Investment in AI-based Vehicle Inspection Startup UVeye

Israel-based startup UVeye announced today it raised an additional $31 million in funding, led by Toyota Tsusho, the trading arm of the Toyota Group, Volvo Cars and W. R. Berkley Corporation. The company developed a unique AI-based computer vision solution for vehicle inspections, including inspections of autonomous and ride-sharing vehicles.

Eric Walz2019-07-22 13:15 PT

Lexus Wants to Offer an Electrified Option of Every Model by 2025

Lexus Wants to Offer an Electrified Option of Every Model by 2025

Toyota, Lexus’ parent company, may not be too big on electric cars at the moment, but the company has plans to introduce an electrified option on every one of its vehicles in six years.

Vineeth Joel Patel2019-07-22 08:50 PT

Toyota to Team Up with China’s CATL to Develop Batteries for Electric Vehicles

Toyota to Team Up with China’s CATL to Develop Batteries for Electric Vehicles

Toyota Motor Corp has agreed to partner with China’s Contemporary Amperex Technology Co Ltd (CATL) to supply and develop batteries for new energy vehicles, which in fully-electric and plug-in hybrid models.

FutureCar Staff 2019-07-17 16:50 PT

Subaru, Mazda Join Toyota and SoftBank’s Autonomous Car Venture

Subaru, Mazda Join Toyota and SoftBank’s Autonomous Car Venture

Subaru and Mazda are joining Toyota and SoftBank’s venture to develop services that will use autonomous cars. Together, all of the major companies are looking to come out with a ride-sharing service.

Vineeth Joel Patel2019-07-06 07:30 PT

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