Category: Automotive

UPDATE 10-Musk says Silver Lake, Goldman advising on taking Tesla private

(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk tweeted on Monday that he was working with buyout firm Silver Lake and investment bank Goldman Sachs Group Inc (GS.N) as financial advisers on his plan to take the U.S. electric car maker private. The announcement represents the latest effort by Musk to add credibility to… Continue reading UPDATE 10-Musk says Silver Lake, Goldman advising on taking Tesla private

FiveAI to start a trial of its shared autonomous car fleet in London in 2019

After raising $35 million to develop driverless car technology and a strategy to build a fleet of shared vehicles, UK startup FiveAI is announcing its first on-street trial: a service aimed at commuters in the London outer boroughs of Bromley and Croydon. Projected to begin in late 2019, it will kick off first with a… Continue reading FiveAI to start a trial of its shared autonomous car fleet in London in 2019

Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp

August 14, 2018 Vogo, a scooter and bike sharing start-up, has raised $6-7 million in a Series A funding round led by ANI Technologies Pvt. Ltd and Hero MotoCorp chairman Pawan Munjal, according to a person familiar with the matter. Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding… Continue reading Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp

UPDATE 7-Musk talking to Saudi fund, others as he seeks Tesla buyout financing

(Reuters) – Elon Musk on Monday explained what he meant by tweeting “funding secured” to take Tesla Inc private: he is confident a deal can be done but has not yet finalized a plan. What exactly Musk had intended by saying “secured” has emerged as a potential legal and regulatory minefield for the Silicon Valley… Continue reading UPDATE 7-Musk talking to Saudi fund, others as he seeks Tesla buyout financing

UPDATE 2-Tesla’s slow disclosure raises governance, social media concerns

WASHINGTON (Reuters) – Tesla Inc’s (TSLA.O) handling of Chief Executive Elon Musk’s proposal to take the carmaker private and its failure to promptly file a formal disclosure has raised governance concerns and sparked questions about how companies use social media. FILE PHOTO: Tesla CEO Elon Musk at a press conference at the Kennedy Space Center… Continue reading UPDATE 2-Tesla’s slow disclosure raises governance, social media concerns

Elon Musk Says Meetings With Saudis Preceded Tweet on Taking Tesla Private

Elon Musk, Tesla’s chief executive, said on Monday that he had held meetings with representatives of a Saudi sovereign wealth fund who expressed an eagerness to help him take the electric-car maker private. Writing in a post on Tesla’s corporate blog, Mr. Musk offered his fullest explanation yet for what he said were the circumstances… Continue reading Elon Musk Says Meetings With Saudis Preceded Tweet on Taking Tesla Private

Mahindra’s Auto Sector sells 47,199 vehicles during July 2018, a growth of 13%

Mahindra’s Auto Sector sells 47,199 vehicles during July 2018, a growth of 13% Mumbai, August 1, 2018: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group, today announced its auto sales performance for July 2018 which stood at 47,199 vehicles, compared to 41,819 vehicles during July 2017, a growth… Continue reading Mahindra’s Auto Sector sells 47,199 vehicles during July 2018, a growth of 13%

Statement by Mahindra & Mahindra We understand that a complaint has been filed by FCA with the United States International Trade Commission (ITC) against Mahindra. Mahindra has not yet been served with the complaint and we prefer not to comment at length on the dispute at this time. However, we have reviewed FCA’s core filing and find it to be without merit.

Statement by Mahindra & Mahindra AUBURN HILLS, Mich., Aug. 3, 2018 – “We understand that a complaint has been filed by FCA with the United States International Trade Commission (ITC) against Mahindra. Mahindra has not yet been served with the complaint and we prefer not to comment at length on the dispute at this time.… Continue reading Statement by Mahindra & Mahindra We understand that a complaint has been filed by FCA with the United States International Trade Commission (ITC) against Mahindra. Mahindra has not yet been served with the complaint and we prefer not to comment at length on the dispute at this time. However, we have reviewed FCA’s core filing and find it to be without merit.

New Uber feature uses machine learning to sort business and personal rides

Uber announced a new program today called Profile Recommendations that takes advantage of machine intelligence to reduce user error when switching between personal and business accounts. It’s not unusual for a person to have both types of accounts. When you’re out and about, it’s easy to forget to switch between them when appropriate. Uber wants to… Continue reading New Uber feature uses machine learning to sort business and personal rides