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
Author: Tech Crunch Online News
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
Tesla brings back European referral program as end of Q1 nears
Tesla is bringing back its referral program to Europe, a strategy that taps into the brand loyalty of customers as it seeks to preserve market share and boost sales before the first quarter of 2023 closes. The referral program follows Tesla’s move to reduce prices in a variety of markets, including Europe, China and North… Continue reading Tesla brings back European referral program as end of Q1 nears
Lyft CEO and president stepping down to be replaced by former Amazon exec
Lyft co-founders, CEO Logan Green and president John Zimmer, are stepping down from their roles by mid-April, the company said Wednesday. They will serve as chair and vice chair of Lyft’s board, respectively. David Risher, a former retail executive at Amazon, will take over the CEO position at Lyft. Lyft’s current chairman, Sean Aggarwal, will… Continue reading Lyft CEO and president stepping down to be replaced by former Amazon exec
Jury selection begins for Tesla racial discrimination lawsuit
Tesla is back in court this week to defend itself against allegations from a Black former worker who claimed the automaker’s Fremont factory is rife with racial discrimination and harassment. Tesla and the plaintiff, Owen Diaz, are scheduled to appear in U.S. District Court in San Francisco this week after jury selection begins Monday. Diaz… Continue reading Jury selection begins for Tesla racial discrimination lawsuit
Ford lifts the hood on its EV business, Turo updates its IPO filing and Waymo releases a safety case for AVs
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 Ford lifts the hood on its EV business, Turo updates its IPO filing and Waymo releases a safety case for AVs
Turo just dropped its 2022 financials as its IPO hunt continues
Turo, a startup that allows consumers to rent their cars to one another, filed an update to its IPO paperwork Friday, detailing its full 2022 financial performance. The upshot? Turo has continued to grind away and even make revenue gains as it awaits for better IPO conditions. While the IPO market has been frozen for… Continue reading Turo just dropped its 2022 financials as its IPO hunt continues
Ford to build next-gen EV truck at $5.6B factory in 2025
Ford said Friday that its $5.6 billion BlueOval City complex outside of Memphis, Tennessee will include a truck plant capable of producing 500,000 electric vehicles a year. The first vehicle to come off the line will be a next-gen electric truck, code named Project T3, in 2025. Construction at BlueOval City, the epicenter for its… Continue reading Ford to build next-gen EV truck at $5.6B factory in 2025