Category: News Site

Joby Aviation takes over Uber’s air taxi business, Elevate

Uber in January announced it had partnered with South Korean automaker Hyundai Motor Co to develop electric air taxis as part of its Elevate program. By Tina Bellon and Uday Sampath Kumar – Joby Aviation, an electric passenger aircraft developer, said on Tuesday it would take over Uber Technologies Inc‘s flying taxi unit, Elevate, the… Continue reading Joby Aviation takes over Uber’s air taxi business, Elevate

Used car marketplace Carsome gets $30 million Series D for its Southeast Asia growth plans

Carsome, which bills itself as Southeast Asia’s largest e-commerce platform for used cars, announced it has closed a $30 million Series D. The funding was led by Asia Partners, with participation from returning investors Burda Principal Investments and Ondine Capital. The startup described this as one of the largest “all-equity financings to date in Southeast… Continue reading Used car marketplace Carsome gets $30 million Series D for its Southeast Asia growth plans

Joby Aviation is acquiring Uber’s Elevate as the ride-hailing giant continues to shed divisions during the pandemic

Joby Aviation will acquire Uber Elevate in another sell-off from the ride-hailing giant during the pandemic.  Uber will invest $75 million in Joby Aviation which, combined with a previously undisclosed $50 million investment in January from Uber, brings the latter’s total fundraising haul to $820 million. Joby expects to begin flights with electric vertical take-off… Continue reading Joby Aviation is acquiring Uber’s Elevate as the ride-hailing giant continues to shed divisions during the pandemic

Rivian is building its own EV charging network, but with an adventurous twist

Drivers cruising along an off-the-beaten track might stumble upon an unusual sight in the coming months: a Rivian electric charging station. The electric automaker has designed and is now starting to build out a network of electric vehicle charging stations throughout the United States as it prepares for the first deliveries of its R1T pickup… Continue reading Rivian is building its own EV charging network, but with an adventurous twist

Tesla (TSLA) announces $5 billion capital raise at insane stock price

Tesla (TSLA) is announcing today a new $5 billion capital raise as the automaker simply couldn’t resist raising money at low dilution, thanks to its insane stock price. In 2020, Tesla has already done two capital raises; $2 billion in February and $5 billion in September. That’s after CEO Elon Musk said that Tesla wouldn’t raise money again,… Continue reading Tesla (TSLA) announces $5 billion capital raise at insane stock price

Ford adds new off-road ‘Tremor’ pickup to its profitable F-150 lineup

2021 Ford F-150 Tremor Ford Ford Motor is expanding its highly profitable truck lineup with a new off-road “Tremor” model for the F-150 pickup. The 2021 F-150 Tremor, announced Tuesday, features all-terrain equipment upgrades in addition to several new features of a redesigned version of the pickup, which is arriving nationwide to dealers across the… Continue reading Ford adds new off-road ‘Tremor’ pickup to its profitable F-150 lineup

General Motors will not offer buyouts to GMC dealers who don’t want to sell Hummer EVs

2022 GMC Hummer EV sport utility truck “Edition 1” GM DETROIT – General Motors does not plan to offer buyouts to GMC dealers like it has for franchise owners of its Cadillac brand who don’t want to invest in stores to sell all-electric vehicles. Duncan Aldred, vice president of GMC, said the brand is executing… Continue reading General Motors will not offer buyouts to GMC dealers who don’t want to sell Hummer EVs