The hydrogen fuel cell was never actually installed. One-Way Trip Nikola became the laughingstock of the automotive world last year when it emerged that it had rolled its (purportedly) hydrogen-electric semi truck down a hill in a high-profile demo because it couldn’t actually drive yet. Now, though, it turns out the ruse may have been… Continue reading Nikola’s Fake Hydrogen Truck Was Actually Plugged In During Demo, According to Lawsuit
Category: Tech News
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Elon Musk Employees Are Instructed to Tell People He’s “Awesome” and “Inspiring”
“Yup, he’s a great leader! He motivates us to do great work.” Dear Leader If you take a ride on Loop, Elon Musk’s underground tunnel transportation system in Las Vegas, you might get a bizarrely rosy portrait of the enigmatic megabillionaire during your journey. That’s because The Boring Company provides drivers — yes, the high-tech… Continue reading Elon Musk Employees Are Instructed to Tell People He’s “Awesome” and “Inspiring”
Uber slides 4% on report SoftBank will shed a third of its stake in the ride-hailing app
Photo by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Uber’s stock fell 4% on Thursday after CNBC reported SoftBank is offloading a large stake in the firm. The latest share sale could take SoftBank’s holdings in Uber to less than 100 million shares. Reports say the decision is unrelated to SoftBank’s $4 billion loss from its… Continue reading Uber slides 4% on report SoftBank will shed a third of its stake in the ride-hailing app
Nikola founder charged with securities fraud
In Southern District of New York federal court on Thursday, Nikola founder Trevor Milton was charged with securities fraud. The charges allege that Milton made a series of materially false claims which portrayed the electric vehicle company Nikola as far closer to releasing a functional product than it actually was, and raising more than $500… Continue reading Nikola founder charged with securities fraud
Ride-hailing firm Didi Global considers going private to calm China
China‘s Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday. The company has been mulling delisting plans as crackdown in China widens and it has received support from cybersecurity regulators, according to the report, which cited people familiar with the matter. The… Continue reading Ride-hailing firm Didi Global considers going private to calm China
Ford F-150 Lightning electric pickup reservations surpass 120,000
Ford and its F-150 pickup, the automaker’s best-selling vehicle, have consistently inspired brand loyalty from pickup truck owners. According to the J.D. Power 2020 U.S. Automotive Brand Loyalty Study, Ford has a 54.3% loyalty rate. Now as the automaker moves to electrify its fleet, it seems to be bringing in fresh buyers. Ford released Wednesday… Continue reading Ford F-150 Lightning electric pickup reservations surpass 120,000
Ashirase, a Honda incubation, reveals advanced walking assistance system for visually impaired
Globally, 225 million people are estimated to suffer from moderate or severe visual impairments, and 49.1 million are blind, according to 2020 data from the Investigative Ophthalmology and Visual Science journal. A Japanese startup that was incubated at Honda Motor Company’s business creation program hopes to make navigating the world easier and safer for the… Continue reading Ashirase, a Honda incubation, reveals advanced walking assistance system for visually impaired
Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger
Cairo and Dubai-based ride-sharing company Swvl plans to go public in a merger with special purpose acquisition company Queen’s Gambit Growth Capital, Swvl said Tuesday. The deal will see Swvl valued at roughly $1.5 billion. Swvl was founded by Mostafa Kandil, Mahmoud Nouh and Ahmed Sabbah in 2017. The trio started the company as a… Continue reading Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger
Fisker invests in EV charging network Allego’s SPAC merger
Less than a year after its own SPAC merger, electric vehicle startup Fisker has turned investor to support EV charging company Allego. Fisker is investing $10 million in private-investment-in-public equity (PIPE) funding for the merger of Allego and special purpose acquisition company Spartan Acquisition Corp III. The merger, announced Tuesday, puts Allego at a pro… Continue reading Fisker invests in EV charging network Allego’s SPAC merger
Tesla (TSLA) launches major shift in retail strategy: cheaper locations, remote working, and more
Tesla (TSLA) is currently implementing a major shift in its retail strategy, according to sources familiar with the matter. The automaker will move away from showrooms in fancy malls, and instead it will focus on cheaper locations, remote managing of test drive fleet, and delivery centers. Tesla’s confusing retail strategies Since Tesla doesn’t use the… Continue reading Tesla (TSLA) launches major shift in retail strategy: cheaper locations, remote working, and more