Luminar, the Florida-based lidar company that went public via SPAC in 2020, has formed a close alliance with an auto behemoth in China. It’s making a strategic investment of an undisclosed amount in Ecarx, an auto tech startup co-founded by Eric Li, founder of China’s largest private automaker Geely, Ecarx said on Thursday. The funding… Continue reading Luminar to invest in Geely-affiliated Ecarx, eyes China market
Author: Tech Crunch Online News
Ford adds battery capacity, LFP chemistry to scale global EV business
Ford said Thursday it has shored up its battery supply chain as part of its global strategy to sell more than 2 million EVs annually by 2026. The automaker, which is investing $50 billion to scale its battery-electric portfolio through 2026, said it plans to boost battery capacity, shorten its supply chain and use lithium iron… Continue reading Ford adds battery capacity, LFP chemistry to scale global EV business
Massage-booking platform Urban responds to reports of alleged sexual assaults by some therapists
Urban, a popular UK-based startup that allows customers to find self-employed massage therapists who can be booked to attend customers’ homes, has been named in an investigation into alleged abuse by unlicensed freelance therapists. The startup has raised $35.7M from investors that include the likes of Felix Capital, Passion Capital, the London Co-Investment Fund, angels from… Continue reading Massage-booking platform Urban responds to reports of alleged sexual assaults by some therapists
Fonoa raises $60M to automate tax compliance for global companies like Uber and Zoom
Fonoa, a tax automation platform used by companies such as Uber and Zoom, has raised $60 million in a series B round of funding. Founded out of Dublin, Ireland, in 2019, Fonoa targets digital services companies that operate globally, automating many of the processes involved in managing sales tax, VAT, and goods and service tax… Continue reading Fonoa raises $60M to automate tax compliance for global companies like Uber and Zoom
Baidu reveals the next-gen robotaxi that will be deployed throughout China
Baidu, the Chinese search engine giant that has plowed money into AI and autonomous vehicle technology, unveiled Wednesday a new all-electric robotaxi that it plans to deploy at scale across China. Baidu will add the Apollo RT6 EV – a cross between an SUV and a minivan that comes with a detachable steering wheel –… Continue reading Baidu reveals the next-gen robotaxi that will be deployed throughout China
UK union staged 24-hour strike in response to Uber files leak
The UK’s App Drivers and Couriers Union (ADCU) staged a 24-hour strike Wednesday to demand Uber be held accountable for the findings of the Uber files, a trove of thousands of leaked confidential documents that show how the ride-hail company broke laws, secretly lobbied governments and exploited driver safety to expand aggressively from 2013 to… Continue reading UK union staged 24-hour strike in response to Uber files leak
Tesla to increase cost of FSD beta software beyond its $12,000 price tag
Tesla plans to increase the price of its branded “full self-driving” beta software, the advanced driver assistance system that CEO Elon Musk has said will mean the difference between the company “being worth a lot of money or worth basically zero.” Tesla vehicles today come standard with its driver assistance system called Autopilot. For an… Continue reading Tesla to increase cost of FSD beta software beyond its $12,000 price tag
Tesla Cybertruck on track to launch summer 2023, Elon Musk says
Tesla CEO Elon Musk confirmed Wednesday that the automaker aims to launch its long-awaited Cybertruck mid-2023. “We are still expecting to be in production with the Cybertruck in middle of next year,” Musk said during Tesla’s second-quarter financial report. “We’re very excited about that product. It might actually be our best product ever.” Although prototypes… Continue reading Tesla Cybertruck on track to launch summer 2023, Elon Musk says
Tesla earnings show quarterly decline in profits, year-over-year growth
Tesla’s second-quarter earnings report tells a story of quarterly declines and year-over-year growth. The company reported Wednesday a quarterly decline in revenue and earnings as supply chain constraints, inflation and an extended shutdown in China chipped away at its bottom line. Tesla generated $16.9 billion in revenue in the second-quarter, down from $18.8 billion in… Continue reading Tesla earnings show quarterly decline in profits, year-over-year growth
Lyft lays off about 60 employees, shutters in-house car rentals program
Lyft has joined the ranks of tech companies trimming its workforce. The news of the layoffs, initially spotted in LinkedIn posts by now-former Lyft employees, has been confirmed by the company. Lyft said it has laid off about 60 people and dropped its in-house car rental service and is consolidating global operations. The Wall Street… Continue reading Lyft lays off about 60 employees, shutters in-house car rentals program