Category: Automotive

Peer-to-peer car-sharing service Turo files to go public

Turo, the peer-to-peer car-sharing service, has filed for its initial public offering, the latest transportation-related startup to sell its shares on a public stock exchange. The company proposes to sell $100 million of stock, but that figure could change as Turo gets closer to its public debut. Founded in 2010, the San Francisco-based company allows… Continue reading Peer-to-peer car-sharing service Turo files to go public

Magna Adds More Than 120 Engineers, Strengthens ADAS Capabilities

Majority of Optimus Ride engineering team joins Magna Bolsters Magna’s expertise in advanced sensing technologies Adds engineering center in Boston area AURORA, Ontario, Jan. 11, 2022 (GLOBE NEWSWIRE) — Magna has added more than 120 employees of Optimus Ride, a provider of autonomous vehicle and mobility solutions located in Boston, to enhance Magna’s capabilities in… Continue reading Magna Adds More Than 120 Engineers, Strengthens ADAS Capabilities

Optimus Ride acquired by Magna; CEO stepping down

Motley Fool Is AT&T Still a Great Dividend Stock? In 2021, AT&T (NYSE: T) decided to spin off its DIRECTV and WarnerMedia divisions to raise capital to reduce its massive debt. Unfortunately for income investors, AT&T revealed last year that it intended to slash the payout despite the cash the company will receive from the… Continue reading Optimus Ride acquired by Magna; CEO stepping down

Aptiv Snaps Up Software Firm Wind River for $4.3 Billion. The Stock Is Falling.

Motley Fool Will Bank of America Stock Hit $100 in 2022? Bank of America’s (NYSE: BAC) business transformation since the depths of the financial crisis has been simply remarkable under Brian Moynihan’s leadership. Over the past 10 years, Bank of America has delivered a staggering 820% total return, and investors who bought during the worst… Continue reading Aptiv Snaps Up Software Firm Wind River for $4.3 Billion. The Stock Is Falling.

Fast-charge EV battery maker StoreDot pulls in $80M led led by Vietnam’s VinFast

StoreDot, the Israeli next-generation battery technology startup touting an “extreme fast charging” (XFC) battery for electric vehicles, has secured the first close of its latest funding round led by Vietnamese electric vehicle manufacturer, VinFast. The Series D round is due to close at up to $80 million. The capital will be used for the completion… Continue reading Fast-charge EV battery maker StoreDot pulls in $80M led led by Vietnam’s VinFast

Car Capital Secures $150M from Fortress Investment Group

GRAPEVINE, Texas, Jan. 11, 2022 /PRNewswire/ — Automotive FinTech company, Car Capital, has closed a $150 million three-year secured credit facility and a $6.125 million equity investment from funds managed by affiliates of Fortress Investment Group. This milestone transaction provides Car Capital with the debt needed to continue to expand their rapidly growing business, fund more… Continue reading Car Capital Secures $150M from Fortress Investment Group

BorgWarner and OGCI Climate Investments Complete New Investments in Qnovo in $24M Series-C Funding

NEWARK, Calif., Jan. 11, 2022 /PRNewswire/ — Qnovo, a pioneer in battery management software, announced the closing of $24M in Series-C financing. BorgWarner led the round with significant participation by OGCI Climate Investments and Constellation Technology Ventures. Existing investors U.S. Venture Partners and RockPort Capital also participated. The company, which is in advanced vehicle qualifications with… Continue reading BorgWarner and OGCI Climate Investments Complete New Investments in Qnovo in $24M Series-C Funding

BorgWarner Completes Investment in Qnovo Inc., Enhancing Battery Management Capabilities

AUBURN HILLS, Mich., Jan. 11, 2022 /PRNewswire/ — BorgWarner, a global leader in delivering innovative and sustainable mobility solutions for the vehicle market, today announced its investment in Qnovo, Inc., a privately held, Silicon Valley-based software and controls company. BorgWarner is the lead investor for Qnovo’s multi-million-dollar Series-C capital raise. With Qnovo’s focus on battery… Continue reading BorgWarner Completes Investment in Qnovo Inc., Enhancing Battery Management Capabilities