Category: News Site

Ailing EV maker Faraday Future to explore strategic options

(Reuters) – Faraday Future said on Thursday it was exploring strategic options, including debt and equity financing, two days after the Chinese electric vehicle developer’s co-founder Nick Sampson stepped down. The company said it “can now welcome potential investors from around the world”. The move comes as the cash-strapped company, which has ambitions to overtake… Continue reading Ailing EV maker Faraday Future to explore strategic options

GM halts two renovation projects as it looks to cut costs

FILE PHOTO: The GM logo is seen at the General Motors Lansing Grand River Assembly Plant in Lansing, Michigan October 26, 2015. REUTERS/Rebecca Cook/File Photo WASHINGTON (Reuters) – General Motors Co is halting work on two renovation projects at facilities in the Detroit area as it offers voluntary severance packages to 18,000 salaried workers in… Continue reading GM halts two renovation projects as it looks to cut costs

Nio builds a battery swap station right next to a Tesla Supercharger

Nio is ramping up its electric vehicle infrastructure effort in China and it is building battery swap stations. The startup even built one right next to a Tesla Supercharger – creating a little glimpse into the future. With only a handful of EV startups actually delivering vehicles, Nio is emerging as one of the most serious EV… Continue reading Nio builds a battery swap station right next to a Tesla Supercharger

Avis Taps Amazon for Connected Vehicle Data Platform

Avis Budget will leverage AWS’s capabilities for artificial intelligence (AI), machine learning (ML), and data management to develop a wide variety of innovative connected vehicle applications and mobility services.  Photo via iStockPhoto/Karneg. Avis Budget Group is planning to use Amazon Web Services’ (AWS) Connected Vehicle Solution to build its data analytics platform, the car rental company announced. Working… Continue reading Avis Taps Amazon for Connected Vehicle Data Platform

GM CEO expects Tesla to be around in the next 10 years

FILE PHOTO: General Motors Chairman and CEO Mary Barra speaks at GM’s press conference at the North American International Auto Show in Detroit, Michigan, U.S., January 16, 2018. REUTERS/Rebecca Cook/File Photo (Reuters) – General Motors Co’s (GM.N) Chief Executive Officer Mary Barra said on Thursday she expects Tesla Inc (TSLA.O) to be around in the… Continue reading GM CEO expects Tesla to be around in the next 10 years

DeepMap, a maker of HD maps for self-driving, raised at least $60M at a $450M valuation

As car and tech companies continue to make inroads on vehicles and services to build autonomous driving systems, a startup that is creating high-definition maps to help these vehicles move around has quietly picked up a significant round of funding. DeepMap — a Palo Alto startup co-founded by James Wu and Mark Wheeler, who previously… Continue reading DeepMap, a maker of HD maps for self-driving, raised at least $60M at a $450M valuation

Baidu hits the gas on autonomous vehicles with Volvo and Ford deals

China’s search engine giant Baidu is continuing its partnership spree for Apollo, its open development platform for autonomous driving, after it inked a deal with Swedish automaker Volvo to develop level four self-driving passenger cars. “Autonomous driving has been our dream, but it’s coming true,” said Li Zhenyu, vice president and general manager of Baidu’s… Continue reading Baidu hits the gas on autonomous vehicles with Volvo and Ford deals

Carpooling startup Scoop partners with Lyft

Lyft is partnering with carpooling service Scoop to supplement Scoop’s offering to its customers from companies like LinkedIn, Workday, Samsung T-Mobile and Symantec. With Scoop, trips are pre-scheduled, so you can select from one or more times you’d be willing to leave in the morning and afternoon, and have up until 9pm the night before for… Continue reading Carpooling startup Scoop partners with Lyft