Lyft might once again drop its shared rides offering, just one of several changes the company’s newly appointed CEO could make in a bid to focus on its core ride-hailing business and become profitable. David Risher, who is taking over as Lyft’s CEO in mid-April, told TechCrunch in a wide-ranging interview that other features may… Continue reading Lyft might drop shared rides, stay focused on basics under new CEO
Author: Tech Crunch Online News
Battery sourcing guidance might slash EV tax credits
The U.S. Treasury Department’s guidance on battery sourcing requirements for the electric vehicle tax credits will result in fewer vehicles being eligible for full or partial credits, reports Reuters, citing an unnamed U.S. official. The proposed EV credit guidance as included in the Inflation Reduction Act says that in order for vehicles to qualify for… Continue reading Battery sourcing guidance might slash EV tax credits
Online used-car marketplace Shift cuts workforce 30% following CarLotz merger
Online used vehicle retailer Shift Technologies cut its workforce by 30% in the first quarter as the company sought to reduce costs and eliminate duplicate positions following its merger with CarLotz, CEO Jeff Clementz said during an earnings call. The layoffs came as the company saw its revenue plummet in the fourth quarter and its… Continue reading Online used-car marketplace Shift cuts workforce 30% following CarLotz merger
The market has changed, but super-voting shares are here to stay, says Mr. IPO
Yesterday, the ride-sharing company Lyft said its two co-founders, John Zimmer and Logan Green, are stepping down from managing the company’s day-to-day operations, though they are retaining their board seats. According to a related regulatory filing, they actually need to hang around as “service providers” to receive their original equity award agreements. (If Lyft is sold… Continue reading The market has changed, but super-voting shares are here to stay, says Mr. IPO
Saildrone takes the wraps off its Voyager autonomous research vessel
Saildrone has quickly risen to the surface of the growing field of autonomous seagoing vehicles — a category you could be forgiven for not knowing about but that is increasingly important across numerous industries. Its latest vessel, the Voyager, strikes a balance between its shorter Explorer and large-scale Surveyor, and they’re already making one a… Continue reading Saildrone takes the wraps off its Voyager autonomous research vessel
All the tech and features in the all-electric Kia EV9 SUV
Kia revealed Tuesday the next EV in its portfolio, a three-row flagship SUV called the EV9 that is packed with tech and a key product in the company’s mission to reach annual sales of 1.2 million battery electric vehicles by 2030. The South Korean automaker didn’t disclose pricing, but it did provide numerous details on… Continue reading All the tech and features in the all-electric Kia EV9 SUV
Lucid to lay off 1,300 employees in restructuring
Lucid Group, the U.S. automaker that produces the luxury all-electric Air sedan, is cutting its workforce by 18% as part of a restructuring, the company disclosed in a regulatory filing. The layoffs, which will affect 1,300 employees, will be completed by the end of the second quarter. Lucid expects to incur about $24 million to… Continue reading Lucid to lay off 1,300 employees in restructuring
Hackers could remotely turn off lights, honk, mess with Tesla’s infotainment system
Thanks to three vulnerabilities chained together, malicious hackers could remotely hack into a Tesla, turn off the lights, honk the horn, open the trunk, activate the windshield wipers and mess with the infotainment system, according to security researchers. The researchers, who work for security firm Synacktiv, found the vulnerabilities and showcased them at the Pwn2Own… Continue reading Hackers could remotely turn off lights, honk, mess with Tesla’s infotainment system
Venti raises $29M to design autonomous vehicles for industrial and logistics hubs
We are still likely many years away from wide-scale deployment, let alone adoption, of fully autonomous vehicles on our streets, but in the meantime, autonomous vehicle companies focusing on closed-campus environments continue to raise funding and make headway in building self-driving on a smaller scale. In the latest, a startup called Venti Technologies has raised… Continue reading Venti raises $29M to design autonomous vehicles for industrial and logistics hubs
Cabify, the Madrid-based Uber rival, says it’s raised $110M
It’s 2023, and we’re years past the peak of monster fundraising for on-demand transportation and delivery startups locked in highly competitive races with each other to dominate urban consumer mobility. But with many of the biggest and most tenacious players still in the market, those rounds have not disappeared altogether. Today, Cabify, a Madrid-based platform that… Continue reading Cabify, the Madrid-based Uber rival, says it’s raised $110M