Arrival product chief Tom Elvidge. Arrival Shares of London-based electric automaker Arrival soared Tuesday after the company struck a deal with Uber to develop a vehicle for ride-hailing drivers. Arrival said the car will reduce emissions as Uber has pledged for its London-based service to go fully electric by 2025. The Arrival Car’s design is… Continue reading London-based EV maker Arrival soars 10% after announcing a vehicle-development partnership with Uber (ARVL, UBER)
Author: Business Insider
Tesla is giving its German team six more months to start production at its Berlin gigafactory
Tesla’s Gigafactory Berlin-Brandenburg has been given six additional months to start production. Construction on the factory has been stalled by paperwork and environmental concerns. Tesla had planned to start production on July 1, 2021. See more stories on Insider’s business page. Tesla CEO Elon Musk has given his German team six more months to start… Continue reading Tesla is giving its German team six more months to start production at its Berlin gigafactory
Max Hodak, the cofounder of Elon Musk’s Neuralink, departed the company ‘a few weeks ago’
Neuralink cofounder Max Hodak said on Saturday he left the company “a few weeks ago.” “I learned a ton there and remain a huge cheerleader for the company!” Hodak said on Twitter. Founded in 2016, Neuralink has been building and testing a brain implant. See more stories on Insider’s business page. Elon Musk’s Neuralink cofounder… Continue reading Max Hodak, the cofounder of Elon Musk’s Neuralink, departed the company ‘a few weeks ago’
1 in 5 electric vehicle owners in California switched back to gas because charging their cars is a hassle, new research shows (F, TSLA, GM)
Roughly 20% of electric vehicle owners in California replaced their cars with gas ones, a new study shows. The main reason drivers made the switch was the inconvenience of charging. The findings suggest new challenges facing the growth of the nascent electric vehicle market. See more stories on Insider’s business page. In roughly three minutes,… Continue reading 1 in 5 electric vehicle owners in California switched back to gas because charging their cars is a hassle, new research shows (F, TSLA, GM)
Lyft joins Uber in ditching plans to make its own self-driving car, selling its autonomous vehicle unit to Toyota for $550 million
Toyota is buying Lyft’s self-driving technology unit for $550 million, the companies said Monday. Lyft joins Uber in ditching plans to make its own self-driving vehicle. The self-driving unit, Level 5, will become a part of Toyota’s new Woven Planet division. See more stories on Insider’s business page. Toyota Motor Corp will acquire Lyft Inc’s self-driving… Continue reading Lyft joins Uber in ditching plans to make its own self-driving car, selling its autonomous vehicle unit to Toyota for $550 million
Tesla’s earnings would have fallen short without EV tax credits and bitcoin sales, but this doesn’t change the long term trajectory of the company, Loup Ventures’ Gene Munster says (TSLA)
Tesla CEO Elon Musk. Maja Hitij/Getty Images Tesla would have lost $181 million without its electric vehicle tax credit and bitcoin sales. The company’s growth trajectory is still intact given record deliveries, Gene Munster says. “You have to pick pressure points on any given company and in the case of Tesla I think deliveries are… Continue reading Tesla’s earnings would have fallen short without EV tax credits and bitcoin sales, but this doesn’t change the long term trajectory of the company, Loup Ventures’ Gene Munster says (TSLA)
Samsung may need to build its first US battery megafactory after its deal with Amazon-backed unicorn Rivian
The battery affiliate of the South Korean giant may need to build its first megafactory in the US. Samsung agreed a deal to build all lithium-ion cells for Amazon-backed EV truck company Rivian. One expert said the sheer numbers meant a US factory for Samsung SDI would make sense. See more stories on Insider’s business… Continue reading Samsung may need to build its first US battery megafactory after its deal with Amazon-backed unicorn Rivian
Consumer Reports proved that a Tesla will drive with nobody behind the wheel following fatal crash (TSLA)
Consumer Reports showed that it’s possible to turn on Tesla Autopilot with nobody behind the wheel. The firm’s car-testing director was able to sit in the passenger’s seat while the Tesla drove itself. The demonstration comes after a fatal Tesla crash where authorities said nobody was driving. See more stories on Insider’s business page. Consumer… Continue reading Consumer Reports proved that a Tesla will drive with nobody behind the wheel following fatal crash (TSLA)
4 years ago, Uber was a toxic mess. Insiders reveal how Dara Khosrowshahi ‘cleansed’ its culture and revived its bid to dominate transportation.
Dara Khosrowshahi prioritized fixing Uber’s culture when he became CEO in 2017. Since then he’s made decisions aimed at making Uber more ethical and transparent. His efforts have largely been successful, Uber employees and a Wall Street analyst told Insider. See more stories on Insider’s business page. Dara Khosrowshahi was shopping for groceries in August… Continue reading 4 years ago, Uber was a toxic mess. Insiders reveal how Dara Khosrowshahi ‘cleansed’ its culture and revived its bid to dominate transportation.
Uber is sitting on $18 billion in global investments, with a stake in Grab’s record SPAC deal worth more than $5 billion alone (UBER)
Singapore’s ride-hailing firm Grab announced plans Tuesday to go public at a $40 billion valuation. Uber is one company poised to win big, with an investment that will be worth more than $5 billion. This is the latest pivot Uber has made in recent years as it’s pared back cash-burning endeavors. See more stories on… Continue reading Uber is sitting on $18 billion in global investments, with a stake in Grab’s record SPAC deal worth more than $5 billion alone (UBER)