Canoo’s first-quarter earnings shows a company burning through cash, no near-term revenue and a warning that it may not have enough money to stay in business. Shares of Canoo, which were down 5% Tuesday, fell another 17.5% in after-market trading following the release of its earnings. It has since recovered and is now down more… Continue reading Canoo warns it may not have enough funds to bring EVs to market
Author: Tech Crunch Online News
Lordstown reports $90 million loss and no progress on Foxconn deal
Lordstown Motors, the long-suffering battery-electric truck maker, said in a filing with the U.S. Securities and Exchange Commission on Monday that it has not yet closed a $230 million deal with Foxconn ahead of a May 14 deadline that would allow it to remain a going concern. Under the terms of the agreement, Taiwanese tech… Continue reading Lordstown reports $90 million loss and no progress on Foxconn deal
Lucid is raising prices on its luxury Air EV by as much as 13%
Lucid Group is the latest automaker to up the price of its electric vehicles. The company announced Thursday alongside its first-quarter earnings report that it was raising prices of the variants of its luxury Air sedan, beginning June 1. The price hikes pushes base price of the Air sedan as much as 13%. All existing… Continue reading Lucid is raising prices on its luxury Air EV by as much as 13%
Aurora unveils fleet management platform to optimize autonomous operations
Autonomous vehicle technology company Aurora Innovation has unveiled a fleet management system that can be used to help optimize operations for the startup’s trucking and ride-hailing products. Aurora announced the platform, named Aurora Beacon, alongside its first-quarter earnings report on Wednesday, during which the company presented investors with a series of milestones on its path… Continue reading Aurora unveils fleet management platform to optimize autonomous operations
Porsche joins $400M bet on lithium-silicon batteries to juice up future EVs
Porsche has read the room. With its first electric vehicle now outselling the quintessential 911 sports car, the German automaker is responding by upping its bet on EVs, in part via a hefty investment in lithium-silicon battery developer Group14 Technologies. Porsche injected $100 million into Group14 as part of a larger $400 million Series C… Continue reading Porsche joins $400M bet on lithium-silicon batteries to juice up future EVs
Fisker reveals all-electric luxury GT sports car
Fisker Inc. revealed Wednesday a glimpse of the fully electric luxury GT sports car it plans to add as the third model to its fledgling lineup. The Project Ronin concept, code-named after the 1998 stunt-heavy action-thriller starring Robert De Niro, is a long-range, four-passenger grand tourer with plenty of luggage room, according to the company.… Continue reading Fisker reveals all-electric luxury GT sports car
Car rental giant Sixt hit by cyberattack, customers told to expect delays
Germany-based rental car giant Sixt has confirmed it’s been hit by a cyberattack that has caused widespread disruption to its global operations. According to a statement from Sixt, which has more than 2,000 locations across over 110 countries, the company first detected “IT irregularities” on April 29, before subsequently confirming the cyberattack and containing it… Continue reading Car rental giant Sixt hit by cyberattack, customers told to expect delays
Argo AI, Zoox and Coalition for Reimagined Mobility to discuss what makes a ‘good AV citizen’
Developers of autonomous vehicles have long promised that the technology will fundamentally change the way people, packages and freight move around the world. But will these robotaxis, self-driving trucks and delivery bots be good citizens in the cities in which they operate? And what does a “good AV citizen” even look like? We’ve invited three… Continue reading Argo AI, Zoox and Coalition for Reimagined Mobility to discuss what makes a ‘good AV citizen’
Rivian lands $1.5B incentives package to build massive EV factory in Georgia
Rivian will receive a $1.5 billion incentives package to build its massive factory in Georgia, according to documents posted Monday by the state’s Department of Economic Development. That sizable carrot — the biggest in the state’s history — comes with several commitments from Rivian, including that it will hire 7,500 people who will earn an… Continue reading Rivian lands $1.5B incentives package to build massive EV factory in Georgia
GM expects to spend $2B on Cruise in 2022
General Motors expects expenses for its autonomous driving subsidiary Cruise to about $2 billion this year, GM’s chief financial officer Paul Jacobson said in the company’s first-quarter earnings call. Cruise nor GM provided a detailed accounting of exactly what that $2 billion would be used for. TechCrunch will update the article if Cruise responds to requests… Continue reading GM expects to spend $2B on Cruise in 2022