California voters approved Proposition 22, a legislation that keeps rideshare and food delivery drivers as “independent contractors” who do not qualify for state and local employee benefits like minimum wage, healthcare, or paid time off. The ballot measure, backed by Uber, Lyft, Instacart, and DoorDash, exempts firms from AB-5, a state law that would have… Continue reading California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
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Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
Lyft executives celebrate the company’s IPO in 2019. Mario Tama/Getty Images Uber shares rose as much as 18% and Lyft shares jumped as much as 22% on Wednesday after California voters approved Proposition 22. The ballot measure’s passage means the ride-hailing companies can continue to classify their drivers as independent contractors instead of employees, exempting… Continue reading Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
Automakers use virtual reality to cut the development time for vehicles like the Hummer EV
General Motors unveiled the 2022 GMC Hummer EV sport utility truck, or SUT, online and during national television broadcasts on Oct. 20, 2020. GM General Motors developed the 2022 GMC Hummer EV in rapid time with help of virtual reality, an increasing trend for the automotive industry before and during the coronavirus pandemic. GM CEO… Continue reading Automakers use virtual reality to cut the development time for vehicles like the Hummer EV
Fiat Chrysler gives up-close look at Jeep Grand Wagoneer, Dodge Charger Redeye
The Jeep Grand Wagoneer Concept was on display in Auburn Hills this week. So was the V8-powered Jeep Wrangler Rubicon 392 Concept, 2021 Ram 1500 TRX, 2021 Dodge Charger Redeye, 2021 Chrysler Pacifica Pinnacle and even the 2021 Jeep Wrangler 4xe, the first Wrangler plug-in hybrid, among others. What was the occasion? FCA was giving a… Continue reading Fiat Chrysler gives up-close look at Jeep Grand Wagoneer, Dodge Charger Redeye
Internal memo from Bill Ford offers reassurance, ‘no matter who is running the country’
Bill Ford, executive chairman of Ford Motor Co., emailed the Ford team on Friday night “a message on the U.S. Election” as protesters gathered in Detroit and tensions nationally ran high over the presidential election. Ford, 63, is known to send periodic messages when he feels such communication is appropriate. The outcome of the 2020 election remained uncertain though polls… Continue reading Internal memo from Bill Ford offers reassurance, ‘no matter who is running the country’
Toyota president: Tesla has ‘not created a real business in the real world yet’
The logo of Toyota Motor is displayed at a company’s car showroom in Tokyo on February 6, 2019. Kazuhiro Nogi | AFP | Getty Images During a Toyota Motors earnings call on Friday, executives answered questions about how they plan to compete in the expanding field of electric vehicles, and took a potshot at Tesla’s… Continue reading Toyota president: Tesla has ‘not created a real business in the real world yet’
German FAZ: Gilded November000476
Gerald Kink wants to make one thing clear right away: “That really helps us,” says the hotelier and restaurateur from Wiesbaden. “We accept this money very gratefully,” assures the entrepreneur who runs the Hotel Oranien in the Hessian state capital, a long-established family business with 80 rooms and 36 employees. Ralph Bollmann Correspondent for economic… Continue reading German FAZ: Gilded November000476
China Tech Digest: NIO’s Marcap Bigger Than Baidu’s; Li Auto Issues Recalls
NIO becomes becomes one of world’s top 10 car makers by marcap China’s new energy vehicle sector saw their US listed shares rose collectively. Among them, NIO closed at US$42.35, up 12.30%, and its market value reached US$57.688 billion, a record high. This market value also exceeds that of traditional car giants such as BMW,… Continue reading China Tech Digest: NIO’s Marcap Bigger Than Baidu’s; Li Auto Issues Recalls
Glickenhaus SCG-008 Off-Road Looks Insane In New Profile Views – Motor1
If you’ve ever heard the name Scuderia Cameron Glickenhaus, it’s probably thanks to the company’s race car, sports car, and supercar expertise. What not many people know however is that the automaker is also pretty experienced in creating capable off-road machines – a class win over Ford’s Bronco R at last year’s Baja 1000 probably… Continue reading Glickenhaus SCG-008 Off-Road Looks Insane In New Profile Views – Motor1
SSC plans to built a “little brother” for the Tuatara – paultan.org – Paul Tan’s Automotive News
According to a report by Motor Authority, SSC plans to build a new model that slots in below the record-setting Tuatara, a project that it is calling “Little Brother.” This will help to widen the company’s line-up of offerings to draw in more customers in the future. SSC CEO Jerod Shelby revealed that the Little… Continue reading SSC plans to built a “little brother” for the Tuatara – paultan.org – Paul Tan’s Automotive News