The Department of Justice has opened an investigation into struggling electric vehicle startup Workhorse, according to The Wall Street Journal. The probe is reportedly being led by the US Attorney’s office for the Southern District of New York, which often investigates financial crimes. Workhorse is already part of an investigation from the Securities and Exchange… Continue reading EV startup Workhorse faces Department of Justice probe
Category: Tech News
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Tesla confirms acquisition of battery startup in new patent
Tesla confirmed that it quietly acquired Colorado-based battery startup SiILion, Inc., in a new patent for a silicon-based battery anode. Over the last few years, Tesla has been rumored to have acquired SiILion, Inc., a battery technology startup based out of Colorado. The rumors started after a few of the startup’s employees were hired by… Continue reading Tesla confirms acquisition of battery startup in new patent
Vietnam’s VinFast to make over $200m capital investment in California
Vietnamese automaker VinFast said on Friday it will make over $200 million in capital investments and place its U.S. headquarter in California as part of its plan to expand operation in North America. VinFast, the automobile arm of Vietnam’s largest conglomerate Vingroup, became the country’s first fully fledged domestic car manufacturer when its gasoline-powered models… Continue reading Vietnam’s VinFast to make over $200m capital investment in California
Autonomous driving startup Momenta raises another $500M
In the wake of a $300 million investment from General Motors in September, Momenta, an autonomous driving solution provider from China, announced today an additional $500 million added to its Series C round. The new injection brings the total of the startup’s Series C to over $1 billion. Momenta adapts what it calls a two-legged… Continue reading Autonomous driving startup Momenta raises another $500M
A former Rivian executive sues the automaker for gender discrimination
Electric transport startup Rivian has been sued by one of its former employees. Per The Wall Street Journal, Laura Schwab, an executive who was a vice president of sales and marketing at the automaker until last month, filed a gender discrimination complaint with the California Superior Court in Orange County on Thursday. In the lawsuit,… Continue reading A former Rivian executive sues the automaker for gender discrimination
Theodore Tewksbury to take over as Velodyne CEO
Velodyne Lidar is welcoming a new CEO. The sensor company said that Theodore Tewksbury would take over the role starting November 10, the most recent in a string of changes to Velodyne’s C-suite since the beginning of this year. “I was attracted to Velodyne for a very simple reason which is, as you all know,… Continue reading Theodore Tewksbury to take over as Velodyne CEO
Tesla and Hertz reportedly have a disagreement over how fast Tesla can deliver 100,000 electric cars
Tesla and Hertz are reportedly in the middle of a disagreement over how fast the former can deliver the 100,000 electric cars that the rental company ordered. Last week, Hertz announced that they ordered 100,000 Tesla vehicles, then partnered with Uber to provide 50,000 of them to their drivers with an option for 100,000 more. It… Continue reading Tesla and Hertz reportedly have a disagreement over how fast Tesla can deliver 100,000 electric cars
Nikola sets aside $125 million to settle with SEC
Electric truck developer Nikola Corp. is in talks with the U.S. Securities Exchange Commission to pay a $125 million civil penalty, part of an ongoing probe by the regulator into whether the company mislead investors, the company reported in its third-quarter earnings. Nikola would pay the settlement in installments, and had earmarked the funds in… Continue reading Nikola sets aside $125 million to settle with SEC
Fisker is on target to launch the Ocean electric SUV in November 2022
Fisker provided an upbeat forecast on the ramp-up of its electric automaking business during Wednesday’s third-quarter earnings call, highlighting its manufacturing partnership with Foxconn, a battery supply agreement with Chinese battery giant CATL secured and its on-track production for the company’s debut Ocean SUV. The company confirmed that it will start production of the Ocean… Continue reading Fisker is on target to launch the Ocean electric SUV in November 2022
Ford F-150 Lightning electric truck reservations surpass 160,000
Ford Motor Company confirmed that reservations for the all-electric F-150 Lightning pickup truck have surpassed 160,000, less than six months after its debut. The U.S. automaker has been accepting $100 refundable reservations for the vehicle since its unveiling. Ford has seen a high level of consumer interest, bagging 20,000 reservations on the first day, 44,000… Continue reading Ford F-150 Lightning electric truck reservations surpass 160,000