A California appeals court on Monday reversed a lower-court ruling that found Proposition 22, the ballot measure passed in November 2020 that classified Uber and Lyft drivers as independent contractors rather than employees, to be illegal. The decision by three appeals court judges, first reported by The Wall Street Journal, is a win for app-based… Continue reading California court upholds Prop 22 in win for Uber, Lyft, DoorDash
Author: Tech Crunch Online News
Volkswagen and PowerCo to build North American battery factory in Canada
Volkswagen Group and its battery company PowerCo have picked Canada for its first overseas battery cell factory. The plant, located in St. Thomas, Ontario, will produce battery cells beginning in 2027, according to the German automaker. PowerCo, a VW company that launched in July 2022, will handle the automaker’s global battery business, including sourcing raw… Continue reading Volkswagen and PowerCo to build North American battery factory in Canada
China’s robotaxi upstart WeRide confidentially files for IPO
WeRide.ai, one of the most funded Chinese robotaxi operators, has confidentially filed to go public in the U.S., Bloomberg reported on Monday. The company declined to comment when reached by TechCrunch. China’s autonomous driving startups have been racking up hefty investments in the past few years to fuel their technology development and fleet deployment, which… Continue reading China’s robotaxi upstart WeRide confidentially files for IPO
Porsche adds all-electric flagship SUV to its growing EV lineup
Porsche said Monday it will add a full-sized all-electric SUV to its lineup — slotting above several other upcoming EVs — as part of its goal for 80% of all new sales to be EVs by 2030. Porsche didn’t share many details about the all-electric SUV, including its name, price point or specific production date. The… Continue reading Porsche adds all-electric flagship SUV to its growing EV lineup
Rivian in talks with Amazon to remove exclusivity clause of EV van agreement
Rivian is in discussions with Amazon to dissolve the exclusivity piece of their commercial EV van deal, the WSJ reported this morning, citing unnamed sources. If successful, Rivian would be free to sell its commercial all-electric vans to other customers. The talks are ongoing, according to the WSJ’s sources. Amazon confirmed that the exclusivity deal… Continue reading Rivian in talks with Amazon to remove exclusivity clause of EV van agreement
EV SPACs hunt for cash, the SVB fallout continues and a new AV startup emerges
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 EV SPACs hunt for cash, the SVB fallout continues and a new AV startup emerges
Bird still has a long way to go to reach profitability
Shared micromobility company Bird reported a somewhat head-scratching fourth quarter and full year 2022 earnings Friday morning. At first glance, Bird’s earnings show a company that beat Wall Street revenue expectations and is promising free cash flow positivity by the end of this year. But at second glance, that revenue beat isn’t as simple as… Continue reading Bird still has a long way to go to reach profitability
Arrival is running out of cash — and fast
The high cost of trying to develop and produce vehicles, a business pivot and three restructurings has taken a toll on commercial EV maker Arrival. And it doesn’t look like it’s going to get any easier for the company. Arrival, which went public in 2021 via a merger with a special purpose acquisition company, posted preliminary… Continue reading Arrival is running out of cash — and fast
E-bike maker Cowboy raises new funding round and launches AdaptivePower
Brussels-based startup Cowboy has been in the news lately for its cash burn rate. But the company wants to control its narrative again with some product and business news. Cowboy is launching a new feature called ‘AdaptivePower’, which automatically adjusts the power of the motor depending on the current slope and weather conditions. Cowboy’s electric… Continue reading E-bike maker Cowboy raises new funding round and launches AdaptivePower
Envisics raises $50M at a $500M valuation for its in-car holographic tech
The automotive industry is starting to show some signs of recovery after a big contraction during the Covid-19 pandemic, and carmakers planning for the next five years are looking at what new features might help them eek out more sales. Envisics — a U.K. startup that designs holographic in-car technology that projects navigation, safety alerts and… Continue reading Envisics raises $50M at a $500M valuation for its in-car holographic tech