Eager to secure all the lithium it needs to power a growing lineup of electric vehicles, General Motors said on Tuesday that it will lead a $50 million investment into lithium extraction and refining startup EnergyX. With the deal, the legacy automaker says it will help EnergyX scale its lithium-extraction tech. In exchange, GM will… Continue reading GM leads $50M EnergyX deal to lock down lithium for its EVs
Author: Tech Crunch Online News
Hyundai Motor to invest $18B in South Korea’s EVs by 2030
Hyundai Motor Group will invest 24 trillion won (~$18 billion) in South Korea’s electric vehicle industry through 2030, the company said Tuesday. The news comes a week after Kia, which falls under the Hyundai umbrella, announced its own 32 trillion won (~$24 billion) investment into electrification and future business areas. Hyundai’s investment plan was revealed… Continue reading Hyundai Motor to invest $18B in South Korea’s EVs by 2030
Turo is blocking access to third-party services and hosts are freaking out
Turo, the peer-to-peer car rental company, plans to block access to third-party services like CarSync and Fleetwire starting April 30, according to an email that hosts received and TechCrunch viewed. Turo confirmed the move, which hosts say will cut them off from essential fleet management tools that allow them to share multiple cars on the platform.… Continue reading Turo is blocking access to third-party services and hosts are freaking out
Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
Ford said Tuesday it will spend $1.34 billion (C$1.8B) to turn its 70-year-old Oakville facility in Canada into an assembly plant for its next-generation of electric vehicles. The campus, which first opened in 1953, will be renamed Oakville Electric Vehicle Complex. The company said Tuesday it will begin modernizing the 487-acre site in the second… Continue reading Ford to spend $1.3B to transform Canada factory into EV manufacturing hub
Uber sells $400M stake in Careem super app business
Careem, the Middle East-based ride-hailing company that Uber bought in 2019, is spinning out its super app business into a new startup backed with $400 million from Emirates Telecommunications Group Company. Emirates Telecommunications, the UAE telco giant that is now known as e&, said Monday it reached an agreement with Uber to buy a 50.03%… Continue reading Uber sells $400M stake in Careem super app business
Arrival pulls a double SPAC, Tesla keeps slashing prices and New York Auto Show highlights
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the full edition of the newsletter every weekend in your inbox. Subscribe for free. Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point… Continue reading Arrival pulls a double SPAC, Tesla keeps slashing prices and New York Auto Show highlights
The petty shall inherit the pennies
Hello and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Our Monday show covers the latest in tech news from the weekend and what’s making headlines early in the week. Today we are talking about crypto, Uber and how to be petty at… Continue reading The petty shall inherit the pennies
Everything you need to know about parametric insurance
Insurance is one of the few industries that have remained largely unchanged over the past few decades at a low level: You suffer losses as a direct result of something going south, and you get paid by your insurer. But that old model doesn’t always work. For example, a construction company in a region regularly… Continue reading Everything you need to know about parametric insurance
Tesla’s strategy to fuel EV sales? Keep cutting prices
Tesla may be a relative newcomer compared to legacy companies like GM and Ford, but it has adopted an age-old tactic in the industry: price wars. The automaker has lowered the sticker price on its vehicles in the U.S. and China numerous times since last fall. And any speculation that the cuts would stop in… Continue reading Tesla’s strategy to fuel EV sales? Keep cutting prices
Cruise recalls 300 robotaxis, issues software update after crashing into city bus
GM’s self-driving unit Cruise filed with federal regulators a voluntary recall to update the software in 300 robotaxis after one struck the back of a city bus in San Francisco. Cruise said in a report with the National Highway Transportation Safety Administration that it initiated the recall because in rare circumstances the software could inaccurately… Continue reading Cruise recalls 300 robotaxis, issues software update after crashing into city bus