The $3.8 billion sale of Swedish automotive tech company Veoneer to Magna International hit a roadblock Thursday after chipmaker Qualcomm submitted a bid for the company for $800 million more. Qualcomm’s $4.6 billion bid, which comes in at $37 per share, has already received approval from the company’s board and would not need a stockholder… Continue reading Qualcomm wants to buy Veoneer for $4.6B, beating Magna’s offer
Author: Tech Crunch Online News
Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber CEO Dara Khosrowshahi expressed his support Wednesday for a ballot initiative in Massachusetts that would keep gig economy workers classified as independent contractors, fulfilling a promise he made nearly a year ago to push for laws that preserve its business model. “In the state of Massachusetts, we think the right answer is our IC+… Continue reading Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber shares fall despite revenue beat as its core operations continue to lose money
The company reaffirmed Q4 adjusted profit target, swung to positive net income thanks to investments Alex Wilhelm Kirsten Korosec 8 hours Today after the bell U.S. ride-hailing giant Uber reported its second-quarter financial results. The company’s numbers come a day after its domestic rival, Lyft, shared its own Q2 earnings. Notably while Lyft managed to… Continue reading Uber shares fall despite revenue beat as its core operations continue to lose money
Brazilian digital auto marketplace InstaCarro revs up with $23M in funding
InstaCarro, a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. Notably, U.S.-based firms co-led the investment, including J Ventures, FJ Labs and Rise Capital. Spain’s All Iron Ventures and Big Sur also participated in the financing, among others. With the latest… Continue reading Brazilian digital auto marketplace InstaCarro revs up with $23M in funding
Lyft reaches adjusted profitability milestone despite continuing net losses
Today after the bell, U.S. ride-hailing company Lyft reported its second quarter financial performance. In aggregate the company’s performance was a rebound from the year-ago second quarter, which was heavily impacted by the onset of the COVID-19 pandemic and resulting lockdowns in the United States. Lyft also managed to produce positive adjusted EBITDA in the… Continue reading Lyft reaches adjusted profitability milestone despite continuing net losses
Kodiak Robotics’ founder says tight focus on autonomous trucks is working
Kodiak Robotics is one of the last private autonomous vehicles companies focused on trucking that is still standing. Nearly all the rest have been wooed by the public marketplace and the capital it can provide. But co-founder and CEO Don Burnette says the three-year-old company’s strategy of staying focused and small(er) is paying off. It… Continue reading Kodiak Robotics’ founder says tight focus on autonomous trucks is working
TuSimple’s self-driving truck network takes shape with Ryder partnership
TuSimple, the self-driving truck company that went public earlier this year, has partnered with Ryder as part of its plan to build out a freight network that will support its autonomous trucking operations. Under the deal announced this week, Ryder’s fleet maintenance facilities will act as terminals for TuSimple’s freight network. TuSimple’s so-called AFN, or… Continue reading TuSimple’s self-driving truck network takes shape with Ryder partnership
Argo AI can now offer the public rides in its autonomous vehicles in California
Argo AI, the autonomous vehicle technology startup backed by Ford and VW, has landed a permit in California that will allow the company to give people free rides in its self-driving vehicles on the state’s public roads. The California Public Utilities Commission issued the so-called Drivered AV pilot permit earlier this month, according to the… Continue reading Argo AI can now offer the public rides in its autonomous vehicles in California
Ford F-150 Lightning electric pickup reservations surpass 120,000
Ford and its F-150 pickup, the automaker’s best-selling vehicle, have consistently inspired brand loyalty from pickup truck owners. According to the J.D. Power 2020 U.S. Automotive Brand Loyalty Study, Ford has a 54.3% loyalty rate. Now as the automaker moves to electrify its fleet, it seems to be bringing in fresh buyers. Ford released Wednesday… Continue reading Ford F-150 Lightning electric pickup reservations surpass 120,000
Ashirase, a Honda incubation, reveals advanced walking assistance system for visually impaired
Globally, 225 million people are estimated to suffer from moderate or severe visual impairments, and 49.1 million are blind, according to 2020 data from the Investigative Ophthalmology and Visual Science journal. A Japanese startup that was incubated at Honda Motor Company’s business creation program hopes to make navigating the world easier and safer for the… Continue reading Ashirase, a Honda incubation, reveals advanced walking assistance system for visually impaired