Lyft’s newly appointed CEO David Risher told employees in an email Friday that the company is significantly reducing its workforce as part of a restructuring effort. Risher said the restructuring is part of Lyft’s plan to “better meeting the needs of riders and drivers.” The company confirmed that it has not changed its guidance for… Continue reading Lyft to make ‘significant’ cuts across ride-hailing company
Author: Tech Crunch Online News
Three-wheeled EV startup Arcimoto shuffles leadership again
A newish leadership team is taking over at Arcimoto, a Eugene, Oregon–based startup that makes doorless, three-wheeled electric vehicles. On Thursday, the company said that board member Chris Dawson will step in as CEO, replacing interim CEO Jesse Fittipaldi. Arcimoto added that Fittipaldi will stick around as president and report to Dawson going forward. Two… Continue reading Three-wheeled EV startup Arcimoto shuffles leadership again
Autotech Ventures’ new $230M mobility fund adds fintech, circular economy to its investment strategy
Autotech Ventures will use its newly closed $230 million fund to expand beyond its foundation of early-stage ground transportation startups and invest in what the firm believes are the next big opportunities in automotive and mobility. Fintech, logistics, supply chain and the circular economy are at the top of the list. The $230 million fund,… Continue reading Autotech Ventures’ new $230M mobility fund adds fintech, circular economy to its investment strategy
Kodiak Robotics will haul freight autonomously for Tyson Foods
Autonomous trucking startup Kodiak Robotics is partnering with truckload carrier C.R. England to autonomously ship Tyson Foods products between Dallas and San Antonio, Texas. A human safety operator will be present in the one dedicated truck Kodiak is allocating to this pilot. Deliveries will begin this month, according to the company. The pilot program is… Continue reading Kodiak Robotics will haul freight autonomously for Tyson Foods
Senegal’s logistics tech startup Chargel raises $2.5M seed funding
After selling their hospitality tech startup, Teranga, in 2018, Senegalese brothers Moustapha and Alioune Ndoye ventured into the trucking business as they pondered their next move. However, it soon became clear to them that fleet management is a major challenge, and one that largely influences the level of profits to be made by truck-owners. Some… Continue reading Senegal’s logistics tech startup Chargel raises $2.5M seed funding
Uber and Cartken are bringing sidewalk delivery robots to Virginia
Uber is expanding its partnership with sidewalk delivery robot startup Cartken to Fairfax, Virginia. Starting Thursday, UberEats customers around the Mosaic District can choose to have food from select merchants delivered via one of Cartken’s small, six-wheeled, autonomous bots. This is the second city where Uber and Cartken are partnering for commercial deliveries. The companies… Continue reading Uber and Cartken are bringing sidewalk delivery robots to Virginia
Kate raises $7.6 million for its electric micro-cars
French startup Kate has raised a $7.6 million (€7 million) funding round from a bunch of business angels. As I wrote in my previous article on Kate, the company has ambitious goals when it comes to everyday mobility. It plans to use the funding to develop an alternative to regular cars (electric or not) by… Continue reading Kate raises $7.6 million for its electric micro-cars
Inside Hyundai’s plan to turn software into a profit machine
The car industry is in the midst of its biggest transformation since the first Model T rolled off the assembly line. And no, it’s not just about shifting to electric vehicles. It’s about software, which goes hand-in-hand with the EV transition. Automakers are betting that apps designed to work natively with infotainment systems, over-the-air updates,… Continue reading Inside Hyundai’s plan to turn software into a profit machine
Tesla Q1 income falls 24% as EV price cuts squeeze profits
Tesla reported Wednesday net income of $2.51 billion in the first quarter, a 24% drop from the same period last year as the company’s EV price-cutting strategy cut into profits. Tesla has repeatedly reduced the price of its four EVs — the Model S, Model X, Model Y and Model 3 — in the United… Continue reading Tesla Q1 income falls 24% as EV price cuts squeeze profits
Unagi secures Best Buy as e-scooter subscription partner
E-scooter manufacturer Unagi has had a busy month. Just a couple weeks after bringing its Model One Voyager scooter to market, the company says it closed a large funding round and secured Best Buy as a scooter subscription partner. The $29.3 million round is a combination of equity and debt. The $17.3 million in equity… Continue reading Unagi secures Best Buy as e-scooter subscription partner