Zoox, a once-secretive self-driving car startup, is closing a $500 million at a $3.2 billion post-money valuation, Bloomberg Businessweek reports. Prior to the deal, Zoox was valued at $2.7 billion, Zoox confirmed to TechCrunch. The round, led by Mike Cannon-Brookes of Grok Ventures, brings its total amount of funding to $800 million. Zoox’s plan, according… Continue reading Self-driving car startup Zoox is raising $500 million at a $3.2 billion valuation
Author: Tech Crunch Online News
Travel giant Booking invests $500M in Chinese ride-hailing firm Didi Chuxing
Didi Chuxing, China’s largest ride-hailing company, has pulled in some strategic capital after Booking Holdings invested $500 million into its business. The deal will see Booking Holdings — which was formerly known as Priceline — work closely with Didi to offer its on-demand car services through its Booking.com apps via an integration. Likewise, Didi customers… Continue reading Travel giant Booking invests $500M in Chinese ride-hailing firm Didi Chuxing
Turo files lawsuit against Los Angeles in car-sharing battle at LAX
Peer-to-peer car-sharing marketplace Turo has filed a lawsuit against the city of Los Angeles Airport in a preemptive strike aimed at defending the ability of its users to rent out their personal cars at Los Angeles International Airport. Turo filed the lawsuit Thursday in the U.S. Central District Court of California in Los Angeles. The… Continue reading Turo files lawsuit against Los Angeles in car-sharing battle at LAX
Waymo-branded Jaguar I-Pace vehicles hit the streets of San Francisco
Waymo’s next phase in self-driving cars has begun. The former Google self-driving project that spun out to become a business under Alphabet has received its first three all-electric I-Pace crossover sport utility produced by Jaguar Land Rover. These I-Pace EVS — the first on U.S. roads outside of JLR’s own fleet — can be seen driving around… Continue reading Waymo-branded Jaguar I-Pace vehicles hit the streets of San Francisco
Ex-Tesla worker makes it official and blows the whistle to SEC
The former Tesla employee who was fired and then sued by the electric vehicle automaker has filed a formal whistleblower tip to the U.S. Securities and Exchange Commission alleging the company has misled investors and put its customers at risk. Martin Tripp has retained Meissner Associates, a whistleblower, securities, investment fraud and employment law firm to represent… Continue reading Ex-Tesla worker makes it official and blows the whistle to SEC
Tesla reaches deal to build electric vehicle factory in China
Tesla has reached a deal with the Shanghai government to build a factory capable of producing 500,000 electric vehicles a year. The factory would be the automaker’s second assembly plant and aimed at serving the alluring Chinese market. Tesla and the Shanghai Municipal People’s Government announced Tuesday they had signed the cooperative agreement. Tesla announced… Continue reading Tesla reaches deal to build electric vehicle factory in China
After Uber buyout, Grab aims to go beyond rides to become Southeast Asia’s one-stop app
Grab is shrugging off the threat that Singapore might undo its acquisition of Uber’s Southeast Asia business after the ride-hailing firm announced a new strategy to become Southeast Asia’s one-stop “super app.” The Competition and Consumer Commission Singapore (CCCS) last week said it may levy a fine or unwind the Uber-Grab deal but today Singapore-based Grab announced a… Continue reading After Uber buyout, Grab aims to go beyond rides to become Southeast Asia’s one-stop app
Bird has officially raised a whopping $300M as the scooter wars heat up
And there we have it: Bird, one of the emerging massively hyped Scooter startups, has roped in its next pile of funding by picking up another $300 million in a round led by Sequoia Capital. The company announced the long-anticipated round this morning, with Sequoia’s Roelof Botha joining the company’s board of directors. This is… Continue reading Bird has officially raised a whopping $300M as the scooter wars heat up
Automakers are burning through billions in EV, AV race
The race to develop autonomous and electric vehicles could be a race to the bottom for the automotive industry — at least in the near-term. A new global study by consulting firm AlixPartners paints an ominous forecast for automakers in the next few years, a toxic cocktail of big spending and lots of competition mixed… Continue reading Automakers are burning through billions in EV, AV race
Uber safety driver of fatal self-driving crash was watching Hulu, not the road
A safety driver operating an Uber self-driving vehicle looked down at a phone that was streaming The Voice on Hulu 204 times during a 43-minute test drive that ended when pedestrian Elaine Herzberg was struck and killed in Tempe, Arizona, according to a 318-page police report reviewed by TechCrunch. The Tempe Police Department released late… Continue reading Uber safety driver of fatal self-driving crash was watching Hulu, not the road