Category: News Site

Hertz to Sell Donlen for at Least $875 Million

Hertz Global Holdings has entered into a stock and asset purchase agreement to sell substantially all of the assets of its wholly-owned fleet management subsidiary, Donlen, to Athene Holding, a leading financial services company. Graphics: Hertz Hertz Global Holdings has entered into a stock and asset purchase agreement to sell substantially all of the assets… Continue reading Hertz to Sell Donlen for at Least $875 Million

Maserati says all of its cars will be hybrid or fully electric in five years

Sponsored Links Flavio Lo Scalzo / reuters Over the next five years, Maserati plans to electrify its entire lineup — but, as Electrek points out, don’t expect to see the automaker announce a flood of battery-electric models just yet. During an online fashion event caught by Reuters, Maserati CEO Davide Grasso said the brand plans… Continue reading Maserati says all of its cars will be hybrid or fully electric in five years

EV bus and truck maker The Lion Electric to take SPAC route to public markets

Canadian electric truck and bus manufacturer The Lion Electric Company said Monday it plans to become a publicly traded company via a merger with special purpose acquisition company Northern Genesis Acquisition Corp. The combined company, which will be listed on the New York Stock Exchange, will have a valuation of $1.9 billion. The companies raised… Continue reading EV bus and truck maker The Lion Electric to take SPAC route to public markets

Nikola’s Badger has been canceled, but other electric pickups with outlandish features are coming — here’s what to expect from Tesla, Rivian, GMC, and others

Electric pickup trucks are set to flood the car market over the next couple of years, with many promising cool and useful features.  Tesla claims its Cybertruck will be bulletproof, Rivian has showed off an innovative “gear tunnel” cargo area in its R1T, and the GMC Hummer EV will have a removable, transparent roof.  Buyers… Continue reading Nikola’s Badger has been canceled, but other electric pickups with outlandish features are coming — here’s what to expect from Tesla, Rivian, GMC, and others

Tesla surges 4% to record high amid approval from China to sell its Model Y SUV (TSLA)

Attila Kisbenedek/AFP via Getty Images Tesla’s stock hit a record high on Monday amid a report from Reuters that the electric vehicle company gained approval from China to sell its Model Y SUV in the country. Tesla has built up its manufacturing capabilities in Shanghai to produce the Model Y SUV. The company already sells… Continue reading Tesla surges 4% to record high amid approval from China to sell its Model Y SUV (TSLA)

China’s Meituan Q3 revenue beats estimates as food delivery rebounds

Chinese food delivery giant Meituan on Monday reported third-quarter revenue that beat market forecasts, driven by a recovery in on-demand services after the end of restrictions imposed to curb the spread of COVID-19. Meituan, whose services include restaurant reviews and bike-sharing, said revenue rose 28.8% in July-September versus the same period a year prior to 35.40 billion… Continue reading China’s Meituan Q3 revenue beats estimates as food delivery rebounds

DoorDash aims to add $11 billion to its valuation during public offering

The delivery platform gave a range of $75 to $85 per share Alex Wilhelm 10 hours This morning, DoorDash filed a new S-1 document, this time updating the market about the price it expects to command during its public offering. The food-delivery giant gave a range of $75 to $85 per share, which would revalue… Continue reading DoorDash aims to add $11 billion to its valuation during public offering

Ola Electric appoints GM veteran to set up its manufacturing plants in India

Moving rapidly ahead with its global electric mobility plans, Ola today announced it has roped in GM veteran Jose Pinheiro as its Head of Global Manufacturing and Operations for its Electric Business. In May this year, Ola Electric acquired the Amsterdam-based Etergo to launch an electric two-wheeler for India in 2021. Founded in 2014, Etergo… Continue reading Ola Electric appoints GM veteran to set up its manufacturing plants in India