Volkswagen CEO Herbert Diess said the company is planning “big moves” in China. The world’s second-largest automaker is beefing up operations in its largest market to keep pace with fast-growing Chinese automakers and fast-changing customer preferences. “We will do some major investments in China,” Diess said in an interview posted Tuesday on LinkedIn. “In a… Continue reading Volkswagen planning ‘big moves’ and hiring spree in China
Author: Tech Crunch Online News
Can Polestar succeed where other EV maker SPACs have failed?
The market has cooled on SPACs, but Polestar has the network and know-how Jaclyn Trop 9 hours Polestar, the EV subbrand from Volvo and Geely that launched last week on the Nasdaq at a $20 billion valuation, didn’t earn its $PSNY ticker by taking the traditional route toward an IPO. With the ringing of the… Continue reading Can Polestar succeed where other EV maker SPACs have failed?
Rivian says it’s on track to deliver 25,000 vehicles this year
Rivian said Wednesday the company produced 4,401 vehicles at its manufacturing facility in Normal, Illinois, and delivered 4,467 vehicles for the quarter ended June 30. “These figures remain in line with the company’s expectations, and it believes it is on track to deliver on the 25,000 annual production guidance previously provided,” Rivian said in a… Continue reading Rivian says it’s on track to deliver 25,000 vehicles this year
How to Raise First Dollars in a Difficult Market: The Venture Perspective
Raising venture capital is rarely an easy lift for startups, but 2022 is turning out to be a more challenging year than we’ve seen for some time. As venture capital continues its slowdown after an aggressive 2020 and record-breaking 2021, it’s clear that early-stage founders looking for their first dollars will require a new approach.… Continue reading How to Raise First Dollars in a Difficult Market: The Venture Perspective
Amazon takes a Prime step back into restaurant delivery in the US with big Grubhub investment and partnership
Amazon tried but then ultimately stepped away from building its own cost-intensive Grubhub and DoorDash competitor in the U.S. back in 2019. Now three years on, it’s taking a different approach to tackling the space to build in one more sweetener to encourage more sign-ups to its Prime subscription service. Today, the e-commerce giant and… Continue reading Amazon takes a Prime step back into restaurant delivery in the US with big Grubhub investment and partnership
Sure, Tesla, a solar trailer
Over the weekend, Tesla showed off its latest gadget: a solar trailer, featuring extendable panels, a satellite internet terminal and even a lick of matte-black paint. Tesla may have designed the trailer to add some range to electric vehicles—or, to advertise Starlink’s new $25-per-month “portability” feature, which SpaceX announced in May. Whatever it’s for, you… Continue reading Sure, Tesla, a solar trailer
Lawyers seek emergency protection for laid off Tesla workers
Lawyers representing two former Tesla employees who were terminated in mid-June have filed an emergency motion asking a judge to prohibit the EV automaker from forcing workers to sign releases in exchange for less severance than federal law provides. The plaintiffs, who allege that the company did not provide the 60 days of advance notice… Continue reading Lawyers seek emergency protection for laid off Tesla workers
Toyota used up all its EV tax credits on hybrids
Toyota has reached the 200,000-unit cap on electric and plug-in-hybrid vehicles that are eligible for a federal tax credit of $7,500. While the Japanese automaker does have exactly one electric vehicle in its lineup that is eligible for credit, Toyota has mainly used up its tax credit on plug-in hybrids. Most of the credits were… Continue reading Toyota used up all its EV tax credits on hybrids
4 negotiation points startup founders must focus on in a down market
John Weaver Contributor John Weaver is CEO of 22 Ventures, an angel firm that offers founders connections, entrepreneurial experience and a genuine concern for their well-being. For the first time in more than a year, venture capital funding saw a decline last quarter. For founders, this drop may spark concerns around how to secure capital, making… Continue reading 4 negotiation points startup founders must focus on in a down market
Founder of auto giant Geely buys Meizu as smartphone demand weakens
Remember Meizu, the once-promising competitor to Xiaomi? The Alibaba-backed Chinese smartphone maker is making a comeback — in a way — as it gets acquired by the founder of Geely, China’s largest private automaker and Volvo’s parent comapny. China’s smartphone industry is notoriously competitive. Founded in 2003, Meizu has been making affordable, trendy Android-based smartphones… Continue reading Founder of auto giant Geely buys Meizu as smartphone demand weakens