Category: Automotive

Fair Closes $500 Million to Unlock Rideshare Supply and Scale Subscriptions

SANTA MONICA, Calif., Sept. 17, 2019 /PRNewswire/ — In a transaction designed to sharply scale its rapidly growing Uber partnership, vehicle subscription app Fair today announced a $500 million revolving credit facility led by Mizuho Bank that will allow drivers nationwide to access a rideshare-ready Fair car, regardless of credit. SoftBank Group Corp. (“SBG”) is among… Continue reading Fair Closes $500 Million to Unlock Rideshare Supply and Scale Subscriptions

Ferrari’s Electric Motor Supplier YASA Raised $22 million

With growing demand for high power density electric motors, YASA is expanding its business YASA, the British manufacturer of axial-flux electric motors and controllers, announced closing a £18 million (€20 million/$22.5 million) funding round. It is another step to scale up the company, which recently was selected as the supplier for the plug-in hybrid Ferrari… Continue reading Ferrari’s Electric Motor Supplier YASA Raised $22 million

Arrival time: how the white van went green

Automotive industry UK firm, which provides electric commercial vehicles, claims to be enjoying significant success Arrival already has more than 600 staff globally, with about 250 in the UK. Photograph: Arrival As the British automotive industry endures its worst period in almost two decades, it might not seem like a good time to open a… Continue reading Arrival time: how the white van went green

GM strike: auto workers accept ‘sacrifice’ to fight management ‘greed’

General Motors United Auto Workers called a strike on Sunday for the first time in over a decade as contract negotiations reached an impasse United Auto Workers (UAW) members picket at a gate at the General Motors Flint Assembly Plant on Monday. Photograph: Bill Pugliano/Getty Images Uncertainty, apprehension and stress were the words people picketing… Continue reading GM strike: auto workers accept ‘sacrifice’ to fight management ‘greed’

Self-driving truck startup TuSimple raises additional $120 mln

DETROIT (Reuters) – Self-driving truck startup TuSimple said on Tuesday it raised an additional $120 million from investors to be used to expand long-haul services for truck fleets and jointly develop an autonomous commercial vehicle with truck makers and suppliers. TuSimple said the new funds were part of a round of fundraising that was oversubscribed… Continue reading Self-driving truck startup TuSimple raises additional $120 mln

Auto parts supplier Matador joins battery production project

Matador, the premium Slovak supplier of the automotive industry, is joining a local battery production project .Matador is expected to play a crucial role in the development phase of the InoBat Auto 100MWh demonstration production line.Having strong and experienced engineering and project management teams who have been designing state-of-art fully automated production lines for major automotive industry players, Matador will assist InoBat Auto during the construction period.

Forth to Start Electric Car Share Program Trial in Under Served Communities

Hood River presents an ideal opportunity to test, asses, and learn how to best offer an electric car sharing service in a rural setting. Photo via Pixabay. Forth announced that it has received funding for the Clean Rural Shared Electric Mobility (CRuSE) Project form the U.S. Department of Energy for Advanced Vehicle Technologies Research.  The… Continue reading Forth to Start Electric Car Share Program Trial in Under Served Communities