Uber, the transportation-on-demand behemoth, today filed its much-anticipated updated S-1, where it announced that it would be pricing its initial public offering at $44-50 per share. Selling 180 million common shares, Uber plans to raise between $7.9 billion and $9 billion ahead of its public debut on the NYSE, valuing it at $84 billion — squarely in… Continue reading Uber prices IPO at $44-50, to raise $7.9-9B, PayPal takes $500M stake in strategic partnership
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Toyota abandons plan to install U.S connected vehicle tech by 2021
WASHINGTON (Reuters) – Toyota Motor Corp said on Friday it was halting plans to install Dedicated Short-Range Communications technology on U.S. vehicles aimed at letting cars and trucks communicate with one another to avoid collisions. FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019.… Continue reading Toyota abandons plan to install U.S connected vehicle tech by 2021
UPDATE 1-Tesla’s Elon Musk reaches deal with SEC over Twitter use
NEW YORK (Reuters) – Tesla Inc Chief Executive Elon Musk has reached a deal with the U.S. Securities and Exchange Commission to settle a dispute over Musk’s use of Twitter, according to a court filing on Friday. FILE PHOTO: Tesla Inc. CEO Elon Musk (C) exits after attending a S.E.C. hearing at the Manhattan Federal… Continue reading UPDATE 1-Tesla’s Elon Musk reaches deal with SEC over Twitter use
DOE awards WAVE $8.4 million to develop charging platform for EV drayage truck
The DOE has awarded $8.4 million to EV technology company WAVE (Wireless Advanced Vehicle Electrification) to develop and deploy high-power, fact-charging technology for EV drayage trucks at the Port of Los Angeles. WAVE will partner with Cummins, Schneider Electric, Utah State University and Total Transportation Services (TTSI) to develop a 500 kW wireless inductive charger… Continue reading DOE awards WAVE $8.4 million to develop charging platform for EV drayage truck
Autonomous Scooter Uses AI to Learn Your Favorite Routes
A Smarter Last Mile UK-based design agency Layer has teamed up with Chinese electric car maker Nio to create a smart scooter that can learn where you want to go. Once “Pal” learns your preferred routes, the smart scooter can autonomously take you to your destination. On its website, Layer calls the scooter a “near-future prototype” that “embraces… Continue reading Autonomous Scooter Uses AI to Learn Your Favorite Routes
Uber unveils IPO terms that temper expectations
(Reuters) – Uber Technologies Inc, the world’s largest ride-hailing company, plans an initial public offering that values the company lower than the startup’s insiders had hoped, between $80.5 billion and $91.5 billion. The valuation, outlined in a regulatory filing on Friday, is less than the $120 billion that investment bankers told Uber last year it… Continue reading Uber unveils IPO terms that temper expectations
Electric vehicle batteries: smoke without fire
When it comes to carbon emissions, battery capacity matters Go to Source
Mercedes production delays push Daimler’s quarterly profits down by 16%
Automotive industry Sales of Mercedes-Benz cars fell 7%, partly because of manufacturing bottlenecks Mercedes-Benz sales in China fell 3%. Photograph: AFP/Getty Images Daimler’s quarterly operating profit has fallen by 16% as a €718m (£620m) one-off gain failed to offset the impact of falling sales in China and production delays at three Mercedes-Benz factories. Sales of… Continue reading Mercedes production delays push Daimler’s quarterly profits down by 16%
Wheely raises $15 million for its luxury ride-hailing app
London-based startup Wheely has raised a $15 million Series B round led by Concentric with Oleg Tscheltzoff, Misha Sokolov and other investors also participating. The company wants to build an Uber competitor focused on the luxury market. It’s a bit ironic when you think about it as Uber started as a luxury company. But everybody… Continue reading Wheely raises $15 million for its luxury ride-hailing app
Lyft’s COO, a former Tesla exec, is the latest expert to throw cold water on Elon Musk’s plan to have a million robo-taxis on the road by 2020 (LYFT)
Plenty of people are skeptical of Elon Musk’s vision of one million self-driving Tesla robo-taxis on the streets by next year, even one of his former executives. John McNeill, Lyft’s chief operating officer and former president of global sales and service, didn’t go so far as to compare Musk to the great showman PT Barnum,… Continue reading Lyft’s COO, a former Tesla exec, is the latest expert to throw cold water on Elon Musk’s plan to have a million robo-taxis on the road by 2020 (LYFT)