Saudi Arabia’s sovereign wealth fund has formed a joint venture with Foxconn to build and sell EVs, the latest move by the nation to meet its Vision 2030 goal of reducing its dependence on oil and diversifying its economy. The new company, called Ceer, will design, manufacture and sell a portfolio of EVs using BMW’s… Continue reading iPhone maker Foxconn and Saudi Arabia are going into the EV business
Author: Tech Crunch Online News
EV-maker Arrival gets delisting warning from Nasdaq
Commercial electric vehicle company Arrival has gotten a warning from the Nasdaq Stock Market because its stock price is trading too low. The company issued a press release Thursday saying it received a notification at the start of the week that it was not in compliance with the Nasdaq’s requirement to trade ordinary shares above… Continue reading EV-maker Arrival gets delisting warning from Nasdaq
Lyft lays off 13% of workforce as it tries to slash operating expenses
Lyft said Thursday it is laying off 13% of its workforce as it tries to reduce operating expenses, according to a securities filing. The ride-hailing company described the cuts as proactive step to ensure it “is set up to accelerate execution and deliver strong business results in Q4 of 2022 and in 2023.” Lyft also… Continue reading Lyft lays off 13% of workforce as it tries to slash operating expenses
Loop lassos ex-Uber talent and money to finally fix freight invoicing
Matt McKinney was a data science manager at Uber, helping launch Uber Freight, along with software engineer Shaosu Liu. One of the main problems the pair saw there was that while they were able to grow the top line, they found it difficult to grow the bottom line because they were “losing a bunch of… Continue reading Loop lassos ex-Uber talent and money to finally fix freight invoicing
India metro smart cards vulnerable to ‘free top-up’ bug
A smart card bug lets anyone ride the metro for free Jagmeet Singh 14 hours India’s mass rapid transit systems — or metro, as it’s known locally — rely on commuter smart cards that are vulnerable to exploitation and allow anyone to effectively travel for free. Security researcher Nikhil Kumar Singh discovered a bug impacting… Continue reading India metro smart cards vulnerable to ‘free top-up’ bug
Aurora says it has enough cash to commercialize autonomous trucks by 2024
Autonomous vehicle technology company Aurora Innovation released its third-quarter earnings report after the bell Wednesday. The company closed out the quarter with about $1.2 billion in cash and short-term investments, which Aurora says will be enough to make it to commercial launch in mid-2024. Those statements were made just days after former competitor Argo AI… Continue reading Aurora says it has enough cash to commercialize autonomous trucks by 2024
Fisker bumps up production for all-electric Ocean SUV
Fisker is raising its manufacturing forecast two weeks before its first electric vehicle, the Ocean SUV, enters production. The automaker plans to produce 42,400 Ocean SUVs by the end of 2023, up from an initial forecast of 40,000, due to strong demand in the U.S. and Europe. The company said it has received 62,000 reservations… Continue reading Fisker bumps up production for all-electric Ocean SUV
George Hotz, aka ‘geohot,’ is leaving Comma.ai for a lofty AI project
Four years ago, Comma.ai founder George Hotz turned to his board — of which he is the only member — and fired himself as CEO. At the time, the goal for the famed iPhone and PlayStation 3 hacker, known as geohot, was to build out a new research division to focus on behavioral models that… Continue reading George Hotz, aka ‘geohot,’ is leaving Comma.ai for a lofty AI project
Ford, VW seeking buyer for Argo AI’s lidar unit
Ford and Volkswagen are trying to squeeze any remaining value out of Argo AI, the autonomous vehicle startup the two automakers invested billons in before abruptly shutting it down last week. One of the primary items on the block: Argo Lidar, an 80-person team and the lidar tech they developed, according to sources familiar with… Continue reading Ford, VW seeking buyer for Argo AI’s lidar unit
Ford, VW seeking buyer for Argo AI’s lidar unit
Ford and Volkswagen are trying to squeeze any remaining value out of Argo AI, the autonomous vehicle startup the two automakers invested billons in before abruptly shutting it down last week. One of the primary items on the block: Argo Lidar, an 80-person team and the lidar tech they developed, according to sources familiar with… Continue reading Ford, VW seeking buyer for Argo AI’s lidar unit