Faraday Future said it has secured up to $100 million in funding as the struggling EV startup tries to launch its long-delayed first model, the FF 91. The near-term funding agreements include up to $40 million in convertible notes and warrant exercise payments, and up to $60 million in convertible notes from Hong Kong holding… Continue reading Faraday Future raises $100 million to help launch flagship FF 91
Author: Tech Crunch Online News
Volkswagen, Umicore venture shows the circular EV battery economy is heating up
Volkswagen is partnering with a Belgian technology group to produce battery materials in Europe, the latest in a spate of industry-wide deals to create a circular battery economy that can meet that can meet production targets as automakers shift toward EVs. The $3 billion joint venture between Volkswagen Group’s battery business PowerCo and Brussels-based Umicore… Continue reading Volkswagen, Umicore venture shows the circular EV battery economy is heating up
EV charging deals keep coming, Ford squeezed by shortages and Kitty Hawk shuts down
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the full edition of the newsletter every weekend in your inbox. This is a shorter version of The Station newsletter that is emailed to subscribers. Want all the deals, news roundups and commentary? Subscribe… Continue reading EV charging deals keep coming, Ford squeezed by shortages and Kitty Hawk shuts down
UK police arrest teenager suspected of Uber, GTA 6 hacks
Police in London have confirmed a 17-year-old teenager, who is suspected of involvement in high-profile breaches at ride-hailing giant Uber and Rockstar Games, has been charged with multiple counts of computer misuse and breaches of bail. The suspect, whose name was not released due to U.K. reporting restrictions on identifying non-adults, was arrested in Oxfordshire… Continue reading UK police arrest teenager suspected of Uber, GTA 6 hacks
How a pivot helped HopSkipDrive emerge successful in a sector where many failed
Joanna McFarland got the idea for HopSkipDrive in 2014 because she needed a solution to a problem that many working parents like herself face: How do you consistently get your kids where they need to be on time? The idea was sparked at a birthday party she attended with one of her children. The topic… Continue reading How a pivot helped HopSkipDrive emerge successful in a sector where many failed
GM invests in Canadian battery recycler to fight supply shortage
General Motors is partnering with a Canadian battery recycler to produce new batteries from recovered battery materials, as it aims to scale EV production in North America amid supply shortages and rising costs. The automaker invested through its GM Ventures arm in a Series A financing round for Lithion Recycling, a developer of advanced battery… Continue reading GM invests in Canadian battery recycler to fight supply shortage
Volkswagen and Belgian utility giant partner on vehicle-to-grid energy storage
Volkswagen is partnering with a Belgian network operator to integrate electric vehicles into the power grid, as more EVs take to the road amid rising energy costs. Volkswagen’s charging unit Elli and re.alto, a startup owned by Brussels-based Elia, signed a memorandum of understanding on Friday to collaborate on ways to integrate EVs into the… Continue reading Volkswagen and Belgian utility giant partner on vehicle-to-grid energy storage
The $5.6B epicenter of Ford’s EV effort is now under construction
Ford broke ground Friday at its $5.6 billion BlueOval City complex in Tennessee, the epicenter for its future electric vehicles and a key milestone toward its goal to sell 2 million EVs annually by late 2026. BlueOval City is slated to begin building advanced batteries for future Ford and Lincoln EVs in 2025, including the… Continue reading The $5.6B epicenter of Ford’s EV effort is now under construction
Tesla countersues civil rights agency behind racial bias suit
Tesla couldn’t get a judge to dismiss a case alleging racial bias at the automaker’s Fremont factory last month, so the automaker is now countersuing the agency responsible instead. The luxury electric vehicle maker on Thursday filed a complaint in state court in Alameda County saying the California Civil Rights Department (CRD) adopted “underground regulations”… Continue reading Tesla countersues civil rights agency behind racial bias suit
Rad Power Bikes and Cycle pilot consumer e-bike subscriptions
Rad Power Bikes, a popular American e-bike brand that has raised over $300 million in the past two years, will start offering bikes as a subscription service next week. The company is partnering with Cycle, a Berlin-based e-bike subscription service that caters to couriers and last-mile delivery, to pilot the offering in Berlin. Starting September… Continue reading Rad Power Bikes and Cycle pilot consumer e-bike subscriptions