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Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows

Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows

Uber reported a Q2 loss of $5.2 billion on Thursday as growth of its core business slows. Uber reported that its revenue growth slowed to 14%, and the company’s core ride-hailing business grew revenue 2% to $2.3 billion.

FutureCar Staff 2019-08-08 15:10 PT

Didi Chuxing Spins Off its Autonomous Driving Unit as an Independent Company

Didi Chuxing Spins Off its Autonomous Driving Unit as an Independent Company

Didi Chuxing, the world’s largest transportation provider, announced that it has spun off its autonomous driving unit into an independent company. Didi said new unit will continue to focus on research and development, product application, and business development related to autonomous driving technologies.

Eric Walz2019-08-05 12:05 PT

SoftBank Launching a $108 Billion Tech Fund That Will Invest in AI Development

SoftBank Launching a $108 Billion Tech Fund That Will Invest in AI Development

​SoftBank Group Corp. officially announced today the planned establishment of “SoftBank Vision Fund 2", a new private investment fund and one of the largest of its kind. SoftBank has secured pledges from tech giants Microsoft and Apple, as well as other investors for about $108 billion for its second Vision Fund.

FutureCar Staff 2019-07-26 13:50 PT

GM Cruise Delays the Launch of its Commercial Robotaxi Service in San Francisco

GM Cruise Delays the Launch of its Commercial Robotaxi Service in San Francisco

GM's self-driving division Cruise said on Wednesday it was delaying the commercial deployment of cars past its target of 2019, as more testing of the vehicles was required. Cruise is testing its fleet of self-driving Chevy Bolt EVs in San Francisco for a planned autonomous ride-hailing service.

Eric Walz2019-07-24 11:00 PT

Waymo is Offering Free WiFi in its Robo-Taxis to Lure in Riders

Waymo is Offering Free WiFi in its Robo-Taxis to Lure in Riders

Waymo is testing complimentary Wi-Fi in its autonomous taxis in the Phoenix area where it is currently testing its Waymo One service.

Eric Walz2019-07-08 13:53 PT

Japan’s Softbank Launching a Satellite Navigation Service for Autonomous Vehicles

Japan’s Softbank Launching a Satellite Navigation Service for Autonomous Vehicles

Softbank Corp is now looking to the sky and plans to use orbiting satellites to help autonomous vehicles find their position and safely navigate. SoftBank is planning to launch a service later this year that would use satellite navigation data combined with mobile base stations to help self-driving buses, drones and autonomous farm machinery navigate.

Eric Walz2019-06-03 19:08 PT

Uber Off to a Rocky Start in Stock Market Debut as Stock Slips 7%

Uber Off to a Rocky Start in Stock Market Debut as Stock Slips 7%

Uber Technologies Inc's stock opened Friday down 6.7% in its first day of trading on the New York Stock Exchange. Uber’s listing today was the ninth-largest U.S. IPO of all time.

Eric Walz2019-05-10 12:12 PT

Lyft Users Will Soon Be Able to Summon a Self-Driving Waymo Minivan in Arizona

Lyft Users Will Soon Be Able to Summon a Self-Driving Waymo Minivan in Arizona

Waymo CEO John Krafcik announced that Waymo’s self-driving minivans will be offered on the Lyft app. It’s the first time that Waymo is sharing its autonomous vehicle technology with a competing ride-hailing network.

FutureCar Staff 2019-05-07 15:07 PT

Lyft Stock Slips Below its IPO Price After Receiving its First Sell Rating

Lyft Stock Slips Below its IPO Price After Receiving its First Sell Rating

Lyft received its first negative review from an analyst who is skeptical that consumers will give up personal car ownership in favor of relying on ride-hailing services. Lyft’s shares fell as much as 4.2 percent to $66.10 on Tuesday, their second straight session of losses after $72 initial public offer on Friday.

FutureCar Staff 2019-04-02 13:00 PT

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

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 2019-03-28 18:44 PT

Waymo Develops its Own Advanced 3D Lidar for Self-Driving Vehicles, Will Offer it to Third Parties

Waymo Develops its Own Advanced 3D Lidar for Self-Driving Vehicles, Will Offer it to Third Parties

In a blog post today, Waymo shared details about its new advanced lidar sensor, which it calls the “Laser Bear Honeycomb”. Waymo says its lidar provides best in class performance. Waymo said it will sell the sensors to other select companies outside of the self-driving car industry,  beginning with robotics, security and agricultural technology.

Eric Walz2019-03-06 17:00 PT

Lyft Files its IPO, Will Become the First Ride-Hailing Company to Go Public

Lyft Files its IPO, Will Become the First Ride-Hailing Company to Go Public

Lyft Inc. filed for a U.S. initial public offering (IPO) today, becoming the first ride-hailing company to go public The IPO filing has also lifted the lid on Lyft’s financial picture, giving investors a first look at the company’s financial information.

FutureCar Staff 2019-03-01 14:39 PT

BMW & Daimler Invest $1 Billion in a New Mobility Venture, Will Challenge Uber

BMW & Daimler Invest $1 Billion in a New Mobility Venture, Will Challenge Uber

German automakers BMW and Daimler AG, announced today they are joining forces with a $1 billion euros ($US1.1 billion) investment in a new joint venture to provide seamless urban mobility options to customers. The service is called “Your Now”. The two automakers are combining five separate joint ventures together under one mobility brand which will be accessible using a single smartphone app.

Eric Walz2019-02-22 13:55 PT

Popular Electric Scooters Available Through Ride-Sharing Apps Can Be Hacked

Popular Electric Scooters Available Through Ride-Sharing Apps Can Be Hacked

If you thought autonomous vehicles would be the only machines that could be hacked, you’re wrong. Researchers from Zimperium found that the Xiaomi M365 electric scooter could be hacked to accelerate or brake.

Vineeth Joel Patel2019-02-18 06:00 PT

California DMV Publishes Self-Driving Car Disengagement Report, Waymo is Still the Leader

California DMV Publishes Self-Driving Car Disengagement Report, Waymo is Still the Leader

On Wednesday, the California DMV released its annual disengagement report. The newly released report, which is also available to the public, provides some surprising insights into the progress made by all 48 company testing autonomous vehicles in California and Waymo is clearly ahead of the pack.

Eric Walz2019-02-13 16:30 PT

Silicon Valley Robotics Startup Nuro Raises Nearly $1 Billion in Latest Funding Round

Silicon Valley Robotics Startup Nuro Raises Nearly $1 Billion in Latest Funding Round

Nuro announced today that it has raised $940 million in its latest round of financing from the SoftBank Vision Fund. The company is developing small self-driving vehicles that can be used for on-demand e-commerce to deliver goods.

Eric Walz2019-02-11 13:39 PT

Saudi Arabia’s Public Investment Fund Hedges its Stake in Tesla

Saudi Arabia’s Public Investment Fund Hedges its Stake in Tesla

Saudi Arabia’s Public Investment Fund (PIF) has cut its exposure to electric carmaker Tesla Inc. The move is a sign that the PIF is concerned about Tesla’s long-term profitability.

Eric Walz2019-01-28 11:32 PT

BMW i-Ventures Announces Investment in Urgent.ly, a Roadside Assistance Provider

BMW i-Ventures Announces Investment in Urgent.ly, a Roadside Assistance Provider

BMW i-Ventures has invested in another automotive industry startup. The automaker’s venture capital arm announced an investment this week in Urgent.ly​, a Virginia-based company that developed a roadside assistance platform that connects drivers directly to emergency service providers.

FutureCar Staff 2019-01-25 18:14 PT

Highlights From This Week’s CES 2019: Bell Unveils Flying Air Taxi Concept that Might Become a Flying Uber, World Premier of the Electric Mercedes Benz EQC

Highlights From This Week’s CES 2019: Bell Unveils Flying Air Taxi Concept that Might Become a Flying Uber, World Premier of the Electric Mercedes Benz EQC

This year's CES in Las Vegas showcased some amazing technology. Here are some of the highlights.

FutureCar Staff 2019-01-11 14:35 PT

HERE Mobility Launches the First Social Ride-Sharing App Called SoMo

HERE Mobility Launches the First Social Ride-Sharing App Called SoMo

HERE Mobility, the mobility unit of mapping company HERE Technologies, announced today the launch of their new all-in-one mobility app called SoMo, which is short for “social mobility”.

FutureCar Staff 2019-01-07 10:19 PT

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