Where was the pop? Investors in Uber—German for over—should be rejoicing on the company’s opening day on the NYSE. Instead, the stock opened at the planned $45 and has remained under that price as of midday. Typically, an IPO is first sold through investment bank underwriters to big institutional investors and to favored individual clients,… Continue reading Uber’s IPO Hits a Yellow Light as Stock Price Stays Below Opening
Author: Fortune Online News
Speed Limiters and Built-In Breathalyzers May Soon Be Mandatory in All EU Cars
New safety features for cars, including speed-limiting technology, are likely to be mandated in Europe after lawmakers and European Union countries reached a deal Tuesday. So-called intelligent speed assistance (ISA) technology is already found in some high-end vehicles from manufacturers such as Ford and Honda, but the plan is to ensure it’s rolled out more… Continue reading Speed Limiters and Built-In Breathalyzers May Soon Be Mandatory in All EU Cars
Lyft Delivers a Few Punches to Rivals in its IPO Filing
In the race to go public this year, Lyft has a head start on rival Uber — at least when it comes to unveiling the details about its planned initial public offering. And though Lyft is gaining market share and revenue, its losses continue to rise while the growth of its ridership slows—both factors that… Continue reading Lyft Delivers a Few Punches to Rivals in its IPO Filing
Why Self-Driving Car Companies Are Eyeing This Remote Driving Startup
Six months ago, remote driving startup Phantom Auto was just a fleck in a crowded sea of companies vying for visibility—and customers—in the nascent autonomous vehicle industry. Today, it’s on the verge of landing deals with automakers, tech companies, and ride-hailing services all racing to deploy autonomous vehicles for public use. Phantom Auto, fresh from… Continue reading Why Self-Driving Car Companies Are Eyeing This Remote Driving Startup
Apple’s Autonomous Car Plans Now Look Way Less Ambitious Than They Once Were
A new report has detailed Apple’s crumbling ambitions to build a futuristic car, which have resulted in little more than a partnership with Volkswagen to make autonomous shuttles for the Apple campus. The New York Times piece presents the news that Apple (aapl) had been working with Volkswagen (vlkay) (whose codename at Apple is apparently… Continue reading Apple’s Autonomous Car Plans Now Look Way Less Ambitious Than They Once Were
Toyota Design Chief Says the Future of Cars Is Custom Speedsters and Rolling Boxes
The man with the final word on design at one of the world’s biggest automakers sees a future dominated by self-driving boxes-on-wheels and souped-up sports cars. For Simon Humphries, who as of this year oversees design globally across Toyota Motor’s namesake and luxury Lexus brands, mobility will follow two divergent paths. One is the e-Palette,… Continue reading Toyota Design Chief Says the Future of Cars Is Custom Speedsters and Rolling Boxes
Tesla Driver, Passed Out Drunk, Tells Highway Patrol Autopilot Was in Charge
The California Highway Patrol (CHP) says a driver was found passed out in his Tesla with a very high blood alcohol content on San Francisco’s Bay Bridge on Friday. The driver, according to CHP, claimed the car had been “set on autopilot” in an apparent attempt to defend himself. The highway patrol, seemingly unimpressed, arrested… Continue reading Tesla Driver, Passed Out Drunk, Tells Highway Patrol Autopilot Was in Charge