Uber’s plan to acquire or invest in the hugely popular UK food delivery startup Deliveroo has hit a snag. The Financial Times reported on Wednesday that the two companies are “miles apart” on Deliveroo’s valuation after months of talks. People briefed on the discussions said a recent offer from Uber valued Deliveroo at less than… Continue reading Uber’s plan to buy UK delivery giant Deliveroo has stalled, with the 2 sides said to be ‘miles apart’ on valuation
Author: Business Insider
Why trees have wreaked havoc on Uber’s self-driving program
The human brain is an extremely complex pattern recognition machine. Among the hundreds of millions of other daily tasks, there’s one that’s extremely important for driving a car: distinguishing a shadow from a real, physical object. For a period of weeks during regular “triage” meetings of Uber‘s Advanced Technologies Group (the division that handles self-driving… Continue reading Why trees have wreaked havoc on Uber’s self-driving program
Elon Musk says Tesla was ‘single-digit weeks’ away from death during Model 3 production
Tesla CEO Elon Musk revealed how close the company came to folding in an Axios interview broadcast on HBO Sunday night. “Tesla really faced a severe threat of death due to the Model 3 production ramp,” said Musk. He added that the company was “bleeding money like crazy,” and the haemorrhaging of cash got to… Continue reading Elon Musk says Tesla was ‘single-digit weeks’ away from death during Model 3 production
Tesla to cut Model X and Model S prices by 12-26% in China to compensate for trade war tariffs
BEIJING/SHANGHAI (Reuters) – Tesla Inc is cutting the price of its Model X and Model S cars in China, the U.S. firm said on Thursday, in a shift in strategy that will see it take more of a hit from tariffs linked to a biting trade war between China and the United States. The electric… Continue reading Tesla to cut Model X and Model S prices by 12-26% in China to compensate for trade war tariffs
Elon Musk told Tesla employees they should be making 7,000 Model 3s per week by November 28: Report (TSLA)
Tesla CEO Elon Musk sent an email to employees setting a production goal of 1,000 Model 3 sedans per day by November 28, Electrek reports. That would result in a weekly production rate of 7,000 Model 3s each week, since the Fremont, California, factory where Tesla makes the Model 3 runs seven days per week.… Continue reading Elon Musk told Tesla employees they should be making 7,000 Model 3s per week by November 28: Report (TSLA)
Panasonic’s North American CEO says solid-state batteries are at least a decade away from mass adoption in the auto industry
Auto and tech companies are scrambling to develop new kinds of products and business models as the transportation industry nears a historic transformation away from gas-powered, human-operated vehicles toward electric-powered, autonomous ones. But one of their suppliers is taking a different approach. Panasonic, which makes infotainment systems for cars and batteries for electric vehicles, among… Continue reading Panasonic’s North American CEO says solid-state batteries are at least a decade away from mass adoption in the auto industry
Lyft removed the option to split ride fares with other passengers, but says an “easier” option is coming soon
Trying to get your friend to cover their half of the Lyft ride might have gotten a little more difficult. Lyft confirmed that it removed Split Pay, the feature that lets users split ride fares with other passengers. A spokesperson for the ride-hailing company didn’t offer a reason for removing the feature, but said “easier… Continue reading Lyft removed the option to split ride fares with other passengers, but says an “easier” option is coming soon
Toyota just sunk another $1 billion into Asian ride-sharing giant Grab
Toyota is investing a further $1 billion in ride-sharing giant Grab. Until March this year, Grab was Uber’s biggest competitor in the Asian region. So big that on March 25 Uber gave up the chase and sold its Southeast Asia rideshare and food delivery businesses in return for a 27.5% stake in Grab, and a… Continue reading Toyota just sunk another $1 billion into Asian ride-sharing giant Grab
Uber just launched a subscription service for $14.99 per month that allows users to avoid surge pricing
Uber said on Tuesday that it has started offering a subscription service, called Ride Pass, that allows users to guarantee set prices for a monthly fee. The service is currently available in Los Angeles, Austin, Orlando, Denver, and Miami, an Uber representative told Business Insider. It costs $24.99 per month in Los Angeles and $14.99… Continue reading Uber just launched a subscription service for $14.99 per month that allows users to avoid surge pricing
A US judge approved the settlement between the SEC and Elon Musk that will force Musk to step down as Tesla’s chairman for three years (TSLA)
A US judge on Tuesday approved the settlement between the Securities and Exchange Commission (SEC), Tesla, and its Chief Executive Officer, Elon Musk. Musk agreed to pay a $20 million fine and step aside as Tesla’s chairman for three years to settle charges that could have forced his exit from Tesla. The company also accepted… Continue reading A US judge approved the settlement between the SEC and Elon Musk that will force Musk to step down as Tesla’s chairman for three years (TSLA)