Micromobility company Lime says it has moved beyond the financial hardship caused by the COVID-19 pandemic, reaching a milestone that seemed unthinkable earlier this year. In short, the company is now largely profitable. Lime said it was both operating cash flow positive and free cash flow positive in the third quarter — a first —… Continue reading Lime touts a 2020 turnaround and 2021 profitability
Author: Tech Crunch Online News
Arrival becomes latest electric vehicle startup to test the public markets with a SPAC
Arrival has gone from stealthy electric vehicle startup to prospective public company in a span of a year. The UK-based company, which operated in relative secrecy for several years until January when it announced a $110 million investment from Hyundai and Kia, said Wednesday it has agreed to merge with special purpose acquisition company CIIG… Continue reading Arrival becomes latest electric vehicle startup to test the public markets with a SPAC
Nigeria’s Autochek raises $3.4M for car sales and service platform
Nigeria based startup Autochek looks to bring the sales and servicing of cars in Africa online. The newly founded venture has closed a $3.4 million seed-round co-led by TLcom Capital and 4DX ventures toward that aim. The raise comes fresh off of Autochek’s September acquisition of digital car sales marketplace Cheki in Nigeria and Ghana.… Continue reading Nigeria’s Autochek raises $3.4M for car sales and service platform
Tesla gets a spot on the S&P 500
Tesla will be added to the S&P 500, a milestone that will expand its investor base and put the electric automaker in the same company as heavyweights like Apple, Berkshire Hathaway and Microsoft. The announcement, made Monday afternoon by the S&P Dow Jones Indices, sent shares 13.7% higher in after-market trading. Tesla will officially join the benchmark… Continue reading Tesla gets a spot on the S&P 500
Ride Vision raises $7M for its AI-based motorcycle safety system
Ride Vision, an Israeli startup that is building an AI-driven safety system to prevent motorcycle collisions, today announced that it has raised a $7 million Series A round led by crowdsourcing platform OurCrowd. YL Ventures, which typically specializes in cybersecurity startups but also led the company’s $2.5 million seed round in 2018, Mobilion VC and… Continue reading Ride Vision raises $7M for its AI-based motorcycle safety system
Honda to mass-produce Level 3 autonomous cars by March
Honda claims it will be the first automaker to mass-produce vehicles with autonomous capabilities that meet SAE Level 3 standards, with plans to begin producing and selling a version of its Honda Legend luxury sedan with fully approved automated driving equipment in Japan from next March. Honda announced the news via press release (via Reuters)… Continue reading Honda to mass-produce Level 3 autonomous cars by March
Uber in talks to sell ATG self-driving unit to Aurora
Eighteen months ago, Uber’s self-driving car unit, Uber Advanced Technologies Group, was valued at $7.25 billion following a $1 billion investment from Toyota, DENSO and Softbank’s Vision Fund. Now, it’s up for sale and a competing autonomous vehicle technology startup is in talks with Uber to buy it, according to three sources familiar with the… Continue reading Uber in talks to sell ATG self-driving unit to Aurora
DoorDash files to go public
After filing earlier this year, DoorDash dropped its public S-1 filing this morning, bringing clarity to its numbers and moving it closer to a public debut that should happen before the end of the year. The company is one of several startups that we expect to see IPOs from before the year ends, despite some… Continue reading DoorDash files to go public
Ford unveils the 2022 E-Transit, its $45,000 electric workhorse
Ford revealed Thursday the E-Transit, a configurable all-electric cargo van that it’s betting will be the new go-to workhorse for commercial customers. The E-Transit is just one piece of the company’s $11.5 billion investment in electrification. But it could be its most important one. Ford has largely focused its electrification efforts on the consumer market,… Continue reading Ford unveils the 2022 E-Transit, its $45,000 electric workhorse
Rivian electric pickup will debut with three editions, with a cheaper one to follow
Rivian is opening up pre-orders for three editions of its upcoming electric pickup truck and SUV that start as low as $67,500 and with a battery range of more than 300 miles. However, more options will follow, including a base version that will have a smaller range of at least 250 miles and a price… Continue reading Rivian electric pickup will debut with three editions, with a cheaper one to follow