Hibernating snakes are complicating Elon Musk’s plans for a gigafactory near Berlin. A German court has told the U.S. billionaire’s electric vehicle company Tesla to suspend clearing of a forest at the site of the proposed factory after environmentalists said that cutting down more trees could endanger hibernating snakes. “The Landesumweltamt (state environmental authority) and Tesla will now be… Continue reading Tesla ordered to stop cutting down trees at its Berlin factory construction site because of hibernating snakes (TSLA)
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Tesla retreats from record highs after announcing share sale of up to $5 billion (TSLA)
Odd Andersen/AFP via Getty Images Tesla retreated from record all-time-highs on Tuesday after the electric vehicle manufacturer announced a $5 billion “at-the-market” share offering. The “at-the-market” offering allows Tesla to sell up to $5 billion worth of stock directly into the public markets at its discretion, taking advantage of potential price swings on specific days. … Continue reading Tesla retreats from record highs after announcing share sale of up to $5 billion (TSLA)
Uber sells self-driving cars to focus on profits
Aurora, founded in 2017, said the deal will help it “accelerate” its mission to make self-driving cars a reality. Go to Source
Chip supply crunch likely to hit China’s auto output in Q1 2021: industry body
Representative Image BEIJING/SHANGHAI: A shortage of certain auto chips may start to have a big impact on car production at some Chinese companies in the first quarter next year, a senior industry executive said on Tuesday, which may cast a shadow over the global auto sector’s recovery. Automobiles have become increasingly dependent on chips –… Continue reading Chip supply crunch likely to hit China’s auto output in Q1 2021: industry body
Grantham stumbles on $200m profit after Spac swoop on battery maker
Leverage our market expertise Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities. Join over 300,000 Finance professionals who already subscribe to the FT. Go to Source
Australian logistics tech startup Shippit raises $22m, eyes SEA expansion
Australian commerce and logistics technology company Shippit has raised A$30 million ($22 million) in Series B funding that the firm will use to finance its Southeast Asia expansion, among others. The funding round was backed by US-based technology investment firm Tiger Global along with the investor’s local representative Jason Lenga, according to the announcement. Shippit,… Continue reading Australian logistics tech startup Shippit raises $22m, eyes SEA expansion
Amazon-backed Aurora is buying Uber’s self-driving unit despite its terrible reputation. Its CEO explains why he sees value in the troubled program. (UBER)
Aurora Innovation is buying Uber’s autonomous-vehicle unit, Uber ATG. Uber ATG’s reputation has suffered from a fatal crash and reports of internal unrest. Aurora CEO Chris Urmson told Business Insider he’s been impressed with the determination and resilience ATG’s employees have displayed. He spoke highly of ATG’s safety infrastructure, software, computing hardware, and cameras. Are… Continue reading Amazon-backed Aurora is buying Uber’s self-driving unit despite its terrible reputation. Its CEO explains why he sees value in the troubled program. (UBER)
Analyst: Ford Bronco supply chain problem points to removable tops
A lot happened within eight hours. Just after 8 a.m. Friday, a top executive at Ford Motor Co. did a presentation at the Goldman Sachs Global Automotive Conference for analysts who play a key role in shaping Wall Street opinion of stock value. “The Bronco is on track to launch in the spring,” said Hau Thai-Tang, Ford chief… Continue reading Analyst: Ford Bronco supply chain problem points to removable tops
Tesla was ordered to pay a Model S buyer $175,000 for hiding structural damage on a pre-owned car (TSLA)
A Beijing court ordered Tesla to pay $175,000 to a secondhand Model S buyer for concealing crash damage, Chinese outlet Caixin reported. The buyer discovered that parts of the car were welded together after it broke down multiple times, Caixin said. The used cars Tesla sells are supposed to exhibit “no evidence of structural repairs,”… Continue reading Tesla was ordered to pay a Model S buyer $175,000 for hiding structural damage on a pre-owned car (TSLA)
Eco-conscious car subscription platform finn.auto raises $24.2M, with White Star and Zalando founders
Finn.auto — which allows people to subscribe to their car instead of owning it, and offsetting their CO₂ emissions — has raised a $24.2 million / €20 million Series A funding round. White Star Capital (which has also invested in Tier Mobility), and the Zalando co-CEOs Rubin Ritter, David Schneider and Robert Gentz, are new… Continue reading Eco-conscious car subscription platform finn.auto raises $24.2M, with White Star and Zalando founders