Lucid Motors is on the precipice of completing a merger that will give the Saudi-owned electric vehicle startup $4.5 billion in fresh capital. But the deal is being held up, in part, by spam filters. The California-based startup is merging with a special purpose acquisition company, or SPAC, called Churchill Capital IV that is already… Continue reading Lucid Motors’ $4.5 billion merger is being held up by spam filters
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Faraday Future just became a publicly traded company
Electric vehicle startup Faraday future is a publicly traded company. It’s okay, I’ll give you a moment. I’ve been reporting on Faraday Future for four years and it has even stunned me a few times in recent weeks. But it’s true: today, the startup’s shares began trading on the Nasdaq stock exchange, and a fresh… Continue reading Faraday Future just became a publicly traded company
Self-driving leader Argo AI’s CEO explains how his new deal with Lyft helps the startup clear a critical hurdle
Robotaxis from Argo AI and Ford are coming to Miami this year and Austin in 2022. Lyft’s customer base and data made it an attractive partner, Argo CEO Bryan Salesky said. He’s looking forward to getting feedback from riders outside the company. Five years after its founding, Argo AI had an automated-driving system that had… Continue reading Self-driving leader Argo AI’s CEO explains how his new deal with Lyft helps the startup clear a critical hurdle
‘I might pump but I don’t dump’: Elon Musk outlined his broad approach to crypto investing in a panel also featuring Cathie Wood and Jack Dorsey
Elon Musk REUTERS/Mike Blake Elon Musk on Wednesday said he is a supporter of bitcoin and wants to see the cryptocurrency succeed. “If the price of bitcoin goes down, I lose money. I might pump but I don’t dump,” Musk said during “The B Word” event. Musk spoke on the panel alongside Twitter chief Jack… Continue reading ‘I might pump but I don’t dump’: Elon Musk outlined his broad approach to crypto investing in a panel also featuring Cathie Wood and Jack Dorsey
Auto software company Sonatus raises $35 million from Hyundai Motor Group, SAIC Capital
California-grown automotive software company Sonatus raised $35 million in a Series A round that attracted high-profile technology and automotive industry companies including Hyundai Motor Group’s Kia Corporation, SAIC Capital and LG Electronics. Silicon Valley VC Translink Capital led the round, with other investors including Marvell Technology, UMC Capital and Wanxiang Group Company. Sonatus, which was… Continue reading Auto software company Sonatus raises $35 million from Hyundai Motor Group, SAIC Capital
Tesla (TSLA) sells back Maxwell Technology’s ultracapacitor business to former executives
Tesla (TSLA) has sold back Maxwell Technology’s ultracapacitor business and brand after acquiring it just over two years ago. Back in 2019, Tesla announced the acquisition of Maxwell Technology, a San Diego-based ultracapacitor and battery company, for over $200 million. While the company was mostly known for its ultracapacitor business, it had just developed a dry electrode… Continue reading Tesla (TSLA) sells back Maxwell Technology’s ultracapacitor business to former executives
Tesla knocked $500 off a hardware upgrade for its Full Self Driving subscription after customer backlash (TSLA)
Tesla told some owners they needed a hardware upgrade to get a Full Self-Driving subscription. This provoked backlash — Tesla said in 2016 its cars would come with Full Self-Driving hardware. Tesla dropped the cost of the upgrade from $1,500 to $1,000. Loading Something is loading. Elon Musk promised for months to offer a low-cost… Continue reading Tesla knocked $500 off a hardware upgrade for its Full Self Driving subscription after customer backlash (TSLA)
One of the biggest myths about EVs is busted in new study
A new study lays to rest the tired argument that electric vehicles aren’t much cleaner than internal combustion vehicles. Over the life cycle of an EV — from digging up the materials needed to build it to eventually laying the car to rest — it will release fewer greenhouse gas emissions than a gas-powered car,… Continue reading One of the biggest myths about EVs is busted in new study
Lightyear finds a manufacturer to build its solar-powered EV
Dutch startup Lightyear has found a manufacturing partner to build its solar-powered electric car, the Lightyear One. Finnish contract manufacturer Valmet Automotive signed a letter of intent with the startup this week, and the two companies plan to start building prototypes together in early 2022, with an eye on midyear for the beginning of production… Continue reading Lightyear finds a manufacturer to build its solar-powered EV
ChargePoint to buy European charging software startup for $295M
ChargePoint struck a deal to buy European charging software company has.to.be for €250 million ($295 million) in cash and stock, the electric vehicle charging network’s first acquisition since it became a publicly traded company. Through the deal, ChargePoint gains more than just 125 employees and the company’s operating software, which manages more than 40,000 networked… Continue reading ChargePoint to buy European charging software startup for $295M