Category: News Site

Uber CEO Thinks Elon Musk Is Way Off On Robotaxi Timeline

Ride-hailing chief thinks autonomous future is years off Uber has no plans in chasing Elon Musk’s timeframe for self-driving taxis, the CEO said Friday. Dara Khosrowshahi told CNBC that the ride-hailing company, which yesterday launched its initial public offering on the New York Stock Exchange, that it would take a slower approach to self-driving vehicles… Continue reading Uber CEO Thinks Elon Musk Is Way Off On Robotaxi Timeline

SK Innovation Will Defend Itself Against LG Chem’s Lawsuit

SK Innovation says “LG Chem has initiated frivolous lawsuits full of baseless claims” and claims this is “not the first time” SK Innovation rejects LG Chem‘s allegations and says in an email sent to InsideEVs that will vigorously defend itself in a court. LG Chem recently sued SK Innovation for “misappropriation of trade secrets, tortious… Continue reading SK Innovation Will Defend Itself Against LG Chem’s Lawsuit

Exclusive: China’s BAIC seeks to buy 5 percent Daimler stake – sources

BEIJING/FRANKFURT (Reuters) – China’s BAIC Group is seeking to buy a stake of up to 5 percent in Daimler as a way to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive, three sources familiar with the matter told Reuters. FILE PHOTO: The logo of Beijing Automotive Group (BAIC) is seen during the… Continue reading Exclusive: China’s BAIC seeks to buy 5 percent Daimler stake – sources

Up to 230 jobs at risk as MG moves to downsize UK base

Up to 230 engineering and design jobs at MG Motor are at risk as the Chinese car company plans to radically downsize its technical centre in Birmingham at the site of the former Longbridge factory. News of the plan leaked out after a consultation with the workforce on Friday, with one source suggesting that 140… Continue reading Up to 230 jobs at risk as MG moves to downsize UK base

Equity Shot: Judging Uber’s less-than-grand opening day

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. We are back, as promised. Kate Clark and Alex Wilhelm re-convened today to discuss the latest from the Uber IPO. Namely that it opened down, and then kept falling. A few questions spring to mind. Why did Uber… Continue reading Equity Shot: Judging Uber’s less-than-grand opening day

Mitsubishi Wants UK To Give New Incentives To PHEV Drivers

Automaker says Outlander PHEV drivers drive on electric power half the time Debates around the world continue as to whether plug-in vehicles are ready to go it alone without incentives. One automaker with a deep interest in plug-in hybrid technology says its drivers take plenty advantage of electric-only power. Mitsubishi Motors’ UK branch released this… Continue reading Mitsubishi Wants UK To Give New Incentives To PHEV Drivers

Uber Begins Trading on NYSE

Today, Uber Technologies, Inc., started trading on NYSE. Its IPO offers 180,000,000 shares of its common stock at a price to the public of $45.00 per share. The underwriters have been granted a 30-day option to purchase up to an additional 27,000,000 shares from certain selling stockholders at the initial public offering price less underwriting… Continue reading Uber Begins Trading on NYSE

Uber’s IPO Hits a Yellow Light as Stock Price Stays Below Opening

Where was the pop? Investors in Uber—German for over—should be rejoicing on the company’s opening day on the NYSE. Instead, the stock opened at the planned $45 and has remained under that price as of midday. Typically, an IPO is first sold through investment bank underwriters to big institutional investors and to favored individual clients,… Continue reading Uber’s IPO Hits a Yellow Light as Stock Price Stays Below Opening