Rivian, the buzzy EV automaker that had one of the biggest IPOs in 2021, is cutting 6% of its workforce for the second time in less than a year, according to an internal memo sent to employees today by founder and CEO RJ Scaringe. Reuters was the first to report about the cuts. TechCrunch has… Continue reading Rivian to cut another 6% of its workforce
Author: Tech Crunch Online News
Battery darling Our Next Energy lands massive $300M Series B to build gigafactory
Battery startup Our Next Energy announced this morning that it closed a massive $300 million Series B in an effort to get its $1.6 billion gigafactory up and running. The new round values the company at $1.2 billion post-money, marking a stunning rise for the two-and-a-half-year-old company, which closed a $25 million Series A in… Continue reading Battery darling Our Next Energy lands massive $300M Series B to build gigafactory
Superstrata e-bike review: Rebel without a cause
Superstrata’s e-bike is a strange specimen — there’s no two ways about it. In some ways that makes sense; the bike’s concept, borne out in seamless 3D-printed carbon fiber, springs from an equally strange premise. We’ll get into that. Talking to Sonny Vu, founder of Superstrata’s parent company Arevo, the bikes were crafted not out… Continue reading Superstrata e-bike review: Rebel without a cause
Tesla records $204M loss from bitcoin in 2022
Tesla recorded a $204 million impairment loss in 2022 on its bitcoin holdings, according to regulatory filings. The loss was offset by $64 million in profits from bitcoin trading, leaving the automaker with a net loss of $140 million. Tesla had invested $1.5 billion in bitcoin during the first quarter of 2021, stating that it… Continue reading Tesla records $204M loss from bitcoin in 2022
DOJ requests Autopilot, FSD documents from Tesla
The U.S. Department of Justice has asked Tesla for documents related to its branded Full Self-Driving and Autopilot advanced driver-assistance systems, the automaker disclosed in a securities filing. Tesla said in the filing it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD features. . . . To our knowledge no… Continue reading DOJ requests Autopilot, FSD documents from Tesla
GM invests $650M in lithium mining to lock down EV raw materials
General Motors said Tuesday it will invest $650 million into Lithium Americas as part of an agreement to develop a mine in Nevada, the latest effort by the automaker to lock down a supply chain of key components needed to produce millions of EVs. The investment in raw materials for batteries is the biggest to… Continue reading GM invests $650M in lithium mining to lock down EV raw materials
Hotai Motor exposed thousands of iRent customer documents
Taiwanese automotive conglomerate Hotai Motor exposed reams of personal customer data from its car rental and carshare unit, iRent, until a security researcher found the data online last week. Even then, it took the company a week — and the intervention of the Taiwanese government — to act. Hotai Motor is one of the largest… Continue reading Hotai Motor exposed thousands of iRent customer documents
AV company Aurora hires president ahead of commercial launch
Aurora Innovation said Monday it has hired Ossa Fisher as president as the autonomous vehicle company prepares to commercially launch its self-driving trucks business next year. The company said Fisher, who was most recently president and chief operating officer of education tech company Istation, will be based in Dallas. Aurora is headquartered in Pittsburgh and… Continue reading AV company Aurora hires president ahead of commercial launch
EV company Arrival to cut workforce by 50% in third restructuring effort
Arrival is going through another restructuring — this time led by a newly appointed CEO — that will slash its workforce by about 50% as the U.K.-based commercial EV company attempts to reduce operating costs and preserve cash. The company said Monday that Igor Torgov, former executive VP of digital at the company, has been… Continue reading EV company Arrival to cut workforce by 50% in third restructuring effort
Ford discounts its all-electric Mustang Mach-E in response to Tesla’s EV price war
Ford said Monday it has increased production and cut the price of its all-electric Mustang Mach-E crossover, the latest automaker to join an EV price war started by Tesla. Ford Mustang Mach-E vehicles are now between about 1% to 8.8% lower, depending on the trim level, according to the company, which emphasized that the discounts… Continue reading Ford discounts its all-electric Mustang Mach-E in response to Tesla’s EV price war