Porsche plans to go public on Thursday at a $73 billion valuation, catapulting the company to become the world’s fourth-most valuable automaker and netting billions of dollars for parent company Volkswagen to advance its drive toward electric vehicles. The initial public offering for Porsche AG on the Frankfurt Stock Exchange values the brand at $79… Continue reading Porsche to IPO in landmark listing Thursday
Author: Tech Crunch Online News
Battery-swapping SPAC Gogoro secures $345M loan
Taiwanese battery-swapping company Gogoro has signed a $345 million five-year credit facility agreement in order to increase liquidity among uncertain economic conditions. The loan comes from a group of 10 syndicated banks led by Mega International Commercial Bank Co., according to a regulatory filing. Gogoro will use the funds to pay off an existing facility,… Continue reading Battery-swapping SPAC Gogoro secures $345M loan
BMW will use Amazon Alexa to build its next voice assistant
Amazon Alexa will be the foundation of BMW’s next-generation voice assistant, the companies announced Wednesday at Amazon’s annual Devices and Services launch event. The German automaker and Amazon are have had a relationship for years now. BMW started offering the Alexa assistant in select cars starting in 2018 and the partnership has grown from there.… Continue reading BMW will use Amazon Alexa to build its next voice assistant
Lyft freezes hiring in the US amid economic instability
Lyft has been canceling job interviews this week and is reportedly on a hiring freeze in the U.S., according to anonymous professional network Blind and a report from Bloomberg. The freeze affects all departments in the U.S. and should last into next year as the ride-hail giant continues to face economic unpredictability. “Like many other… Continue reading Lyft freezes hiring in the US amid economic instability
Elon Musk wants “government-imposed muzzle” on his tweets thrown out
Tesla CEO Elon Musk is sick and tired of having to pause before tweeting to consider the potential implications on his company’s stock price. The celebrity executive is urging a federal appeals court to throw out a provision in his 2018 consent decree with the U.S. Securities and Exchange Commission (SEC) that requires him to… Continue reading Elon Musk wants “government-imposed muzzle” on his tweets thrown out
May Mobility, Via launch wheelchair-accessible autonomous shuttle service
Autonomous ride-hail and shuttle service May Mobility and transit tech provider Via are launching a small fleet of wheelchair-accessible autonomous vehicles in Grand Rapids, Minnesota. Via, which started as an on-demand shuttle service before acquiring Remix, and May have been partnering for years to bridge the gaps in public transit systems with AVs. They have… Continue reading May Mobility, Via launch wheelchair-accessible autonomous shuttle service
BMW’s most powerful SUV is a plug-in hybrid
BMW raised the curtain Tuesday on a high-performance plug-in hybrid SUV meant to lure buyers from the ultra-luxury segment’s Lamborghini Urus and Aston Martin DBX. The BMW XM full-size SUV is the first electrified model from the brand’s race track-ready M badge. Starting just below $160,000, the 644-horsepower crossover also rates as the most powerful… Continue reading BMW’s most powerful SUV is a plug-in hybrid
China’s Nio joins the race for lithium, buys 12% of Australia’s Greenwing Resources
China’s electric vehicle upstart Nio has joined Tesla in sourcing raw materials directly from mines rather than its own battery suppliers as soaring prices of lithium, a critical component of EV batteries, hurt manufacturers’ supply chain stability and bottom lines. Lithium carbonate prices in China hit a record 501,500 yuan/tonne in September, tripling the number… Continue reading China’s Nio joins the race for lithium, buys 12% of Australia’s Greenwing Resources
Papaya wants to help electrify last-mile logistics in Europe
Internal combustion engines still rule the roost when it comes to powering automobiles, but there are signs that they’re trundling into oblivion, at least in some markets. The likes of Sweden, Denmark, and the U.K. are planning to ban sales of diesel and petrol cars by the end of the decade, while markets such as… Continue reading Papaya wants to help electrify last-mile logistics in Europe
Investors bank on China’s alternatives to Nvidia’s auto chips
In China, a crop of homegrown chip companies has popped up as Beijing strives to decouple from America’s advanced technology and manage sanctions risks, which have crippled Huawei’s lucrative smartphone business. In the red-hot space of autonomous driving, Chinese semiconductor firms, buoyed with venture capital, are aiming to provide the best alternatives to Nvidia and… Continue reading Investors bank on China’s alternatives to Nvidia’s auto chips