Ford said Tuesday it will delay until 2022 plans to launch an autonomous vehicle service, as the COVID-19 pandemic has prompted the company to rethink its go-to-market strategy. The news was shared as part of Ford’s quarterly earnings, which was released after the market closed Tuesday. Ford reported a $2 billion loss in the first… Continue reading Ford postpones autonomous vehicle service until 2022
Author: Tech Crunch Online News
Silver Lake to invest $747M in India’s Jio Platforms
Weeks after Facebook invested $5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $746.8 million) in Jio Platforms for about 1.15% stake in the Indian… Continue reading Silver Lake to invest $747M in India’s Jio Platforms
Smart driving assistant Automatic is shutting down
Automatic, makers of a connected car dongle, emailed customers today to announce that the company will shut down all operations May 28. The company says it’s the casualty of the COVID-19 shutdown. “Like many other companies in the United States, the COVID-19 pandemic has adversely impacted our business,” it writes, “and we have made the… Continue reading Smart driving assistant Automatic is shutting down
Lyft ends electric scooter operations in Oakland, Austin and San Jose
Lyft, which just had a massive round of layoffs wherein 982 people lost their jobs and 288 were furloughed, is also pumping the brakes on its scooter operations in a handful of cities. “We’re focusing our resources where we can have the biggest impact and best serve cities and riders,” a Lyft spokesperson said in… Continue reading Lyft ends electric scooter operations in Oakland, Austin and San Jose
Lyft is laying off 982 employees, furloughing a further 288 due to COVID-19 pandemic
Less than 24 hours after it was reported that Uber was considering layoffs of 20% of staff, its big rival Lyft is announcing its own cuts. Today the company said it would be reducing employee count by 17%, working out to 982 employees, and furloughing an additional 288, due to the effects of the COVID-19 pandemic… Continue reading Lyft is laying off 982 employees, furloughing a further 288 due to COVID-19 pandemic
Ford cancels Lincoln electric vehicle program with Rivian
Lincoln Motor, the luxury brand under Ford, has canceled plans to build an all new electric vehicle based on Rivian’s skateboard platform. Crain’s Detroit reported that dealers were informed Tuesday. Rivian and Ford said in a statement sent to TechCrunch that this was a mutual decision based on the current environment, which was meant to… Continue reading Ford cancels Lincoln electric vehicle program with Rivian
Tecton.ai emerges from stealth with $20M Series A to build machine learning platform
Three former Uber engineers, who helped build the company’s Michelangelo machine learning platform, left the company last year to form Tecton.ai and build an operational machine learning platform for everyone else. Today the company announced a $20 million Series A from a couple of high-profile investors. Andreessen Horowitz and Sequoia Capital co-led the round with… Continue reading Tecton.ai emerges from stealth with $20M Series A to build machine learning platform
Manufacturing startup Divergent 3D reduces staff by one-third
Divergent, the Los Angeles-based startup aiming to revolutionize vehicle manufacturing, has cut about one-third of its staff amid the COVID-19 pandemic that has upended startups and major corporations alike. The company, which employed about 160 people, laid off 57 workers, according to documents filed with the California Employment Development Department. Founder and CEO Kevin Czinger… Continue reading Manufacturing startup Divergent 3D reduces staff by one-third
Nuvocargo, a trucking managed marketplace, raises $5.3M in seed funding
U.S. companies rely on Mexican manufacturers for goods ranging from automotive and aerospace parts, to avocados and other produce, to electronics and furniture. But the trucking system that transports these things across the border relies on an inefficient mix of paper, phone calls, faxes and too many stakeholders who drive up costs. These snarls congesting… Continue reading Nuvocargo, a trucking managed marketplace, raises $5.3M in seed funding
EV startup Byton furloughs half of its 450-person staff in the US
China-based electric car startup Byton has furloughed about half of the 450 employees who work at its North American headquarters in Santa Clara, Calif., putting the release date of the automaker’s upcoming M-Byte vehicle into question. Byton told TechCrunch the furloughs were the result of the COVID-19 pandemic. The intention is to bring these furloughed… Continue reading EV startup Byton furloughs half of its 450-person staff in the US