A Detroit-area factory known for making diesel engines is slated to get a $20 million investment to produce components for medium- and heavy-duty electric trucks. The investment means the 3-million-square-foot Detroit Diesel plant, which is in both Redford Township and Detroit, will be the North American source of Detroit ePowertrain components, according to the announcement Monday by Daimler… Continue reading Detroit Diesel plant to get $20M boost to make electric truck parts
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I just tested Cadillac’s hands-free Super Cruise on a 500+ mile trip. Here’s how it went.
Self-driving cars just got meaningfully closer to reality. How much closer? I touched the steering wheel of a 2021 Cadillac Escalade just three times in 280 miles from when I entered I-96 in Detroit to exiting I-94 in Hammond, Indiana. I touched the wheel four times driving the same route home; the fourth was to… Continue reading I just tested Cadillac’s hands-free Super Cruise on a 500+ mile trip. Here’s how it went.
Lyft shares jump 10% after its earnings reveal cost cutting and signs of pandemic recovery (LYFT)
Lyft on Tuesday reported $569.9 million in Q4 revenue, beating expectations of $562.49 million. Lyft reported GAAP losses per share of $0.58, beating analyst expectations of a $0.72 loss per share. Lyft shares jumped 10% as the company said it expects to be profitable by Q4 2021. Visit the Business section of Insider for more… Continue reading Lyft shares jump 10% after its earnings reveal cost cutting and signs of pandemic recovery (LYFT)
Uber and Walgreens team up to offer free rides and access to the COVID-19 vaccine for underserved communities
Uber and Walgreens partnered up to help minority communities receive the COVID-19 vaccine. Uber will offer free rides, and Walgreens will provide education and access. Underserved communities haven’t received their share of vaccine doses, according to Kaiser data. Visit the Business section of Insider for more stories. Uber and Walgreens are teaming up to distribute… Continue reading Uber and Walgreens team up to offer free rides and access to the COVID-19 vaccine for underserved communities
Bitcoin evangelist Michael Saylor says this is the ‘year of institutional investment’ in cryptocurrency following Tesla’s groundbreaking move (MSTR, TSLA)
Michael Saylor. Charles Norfleet/Getty Images MicroStrategy CEO and bitcoin evangelist Michael Saylor said this is the “year of institutional investment” in cryptocurrencies. The news comes as bitcoin tested new highs of over $48,000 per coin on Tuesday morning. Saylor held a “Bitcoin for Corporations” conference on February 3 and 4 that saw 7,000 companies attend.… Continue reading Bitcoin evangelist Michael Saylor says this is the ‘year of institutional investment’ in cryptocurrency following Tesla’s groundbreaking move (MSTR, TSLA)
Tesla grew its workforce by nearly 50% during its monumental 2020 (TSLA)
Tesla grew its global workforce by well over 20,000 people last year. The company now employs at least 70,000 people, a nearly 50% gain over the previous year. Tesla is poised to add more workers in 2021 as it prepares to open factories in Texas and Germany. Visit the Business section of Insider for more… Continue reading Tesla grew its workforce by nearly 50% during its monumental 2020 (TSLA)
The research lab where Tesla plans to design a $25,000 car will be up and running this year, executive says
The head of Tesla in China said the company’s research and development center will be running within the year. The site will design Tesla’s new $25,000 autonomous electric car. The center is part of Elon Musk’s plans to capitalize on China’s lucrative EV market. Visit the Business section of Insider for more stories. The head… Continue reading The research lab where Tesla plans to design a $25,000 car will be up and running this year, executive says
Tesla’s investment in China is paying off — its sales more than doubled last year
Tesla’s revenue in China more than doubled last year as the American electric-car manufacturer further pushed into the Asian market. In 2019, Tesla generated approximately $3 billion in China. By 2020, that revenue had ballooned to $6.6 billion, according to Tesla’s annual 10-K report with the Securities and Exchange Commission which was first reported by… Continue reading Tesla’s investment in China is paying off — its sales more than doubled last year
Elon Musk’s $1.5 billion bet on bitcoin has exposed Tesla to ‘immense’ risk that could wipe out its profits, analysts say
Elon Musk’s Tesla snapped up $1.5 billion of bitcoin in January, but analysts said it was a risky move Frederic J. Brown/Getty Images Tesla’s decision to buy up $1.5 billion of bitcoin exposes Elon Musk’s electric car company to “immense” risks that could wipe out its annual profit if the cryptocurrency’s price plunges, a Saxo… Continue reading Elon Musk’s $1.5 billion bet on bitcoin has exposed Tesla to ‘immense’ risk that could wipe out its profits, analysts say
Supersonic jet company Aerion partners with NASA on high-speed point-to-point travel
Aerion has been working on ushering in a new era of commercial supersonic flight for nearly a decade now, and the company just revealed that it has signed a new partnership with NASA to put that experience to use in the pursuit of supersonic point-to-point travel — the technical name for putting to use the… Continue reading Supersonic jet company Aerion partners with NASA on high-speed point-to-point travel