A new book details numerous instances where Elon Musk appears to “rage-fire” employees. The CEO created an environment where workers who disagreed with him were swiftly ousted, the book says. In the past, Musk has denied allegations that he goes on such firing sprees. Loading Something is loading. Tesla CEO Elon Musk has denied allegations… Continue reading Elon Musk ruthlessly cleaned house of any Tesla workers who disagreed or got in his way, a new book says (TSLA)
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Lyft reaches adjusted profitability milestone despite continuing net losses
Today after the bell, U.S. ride-hailing company Lyft reported its second quarter financial performance. In aggregate the company’s performance was a rebound from the year-ago second quarter, which was heavily impacted by the onset of the COVID-19 pandemic and resulting lockdowns in the United States. Lyft also managed to produce positive adjusted EBITDA in the… Continue reading Lyft reaches adjusted profitability milestone despite continuing net losses
China’s autonomous truck startup Inceptio raises $270m in Series B …
Premium China’s Inceptio Technology, a startup that develops autonomous trucks, announced on Tuesday that it has closed $270 million in a Series B round of financing jointly led by JD Logistics, Chinese food delivery Meituan, and private equity (PE) firm PAG. Go to Source
NXP Semiconductors reports solid Q2 with strong results in automotive
NXP Semiconductors on Monday reported solid second quarter financial results driven by major year-over-year growth in its automotive segment. The company reported net income of $406 million, or $1.42 per diluted share. Total revenue came to $2.6 billion, an increase of 43 percent versus the year-ago period, and better than the mid-point of NXP’s guidance. … Continue reading NXP Semiconductors reports solid Q2 with strong results in automotive
Kodiak Robotics’ founder says tight focus on autonomous trucks is working
Kodiak Robotics is one of the last private autonomous vehicles companies focused on trucking that is still standing. Nearly all the rest have been wooed by the public marketplace and the capital it can provide. But co-founder and CEO Don Burnette says the three-year-old company’s strategy of staying focused and small(er) is paying off. It… Continue reading Kodiak Robotics’ founder says tight focus on autonomous trucks is working
China’s indebted Evergrande to sell stakes in internet unit …
China’s most indebted property developer Evergrande Group has agreed to sell stakes in its internet unit HengTen Networks Group Ltd worth a total of HK$3.25 million ($418.2 million), an exchange filing showed on Sunday. Worries over the developer’s debt and the potential for systemic financial risk have intensified after Evergrande said in June its project… Continue reading China’s indebted Evergrande to sell stakes in internet unit …
Chinese EV battery-maker SVOLT closes $1.6b Series B round led by BOCGI …
Chinese EV battery maker and storage solutions provider SVOLT Energy Technology has raked in 10.28 billion yuan ($1.6 billion) in a Series B round just five months after the completion of its big-ticket Series A round. The new round was led by Bank of China Group Investment (BOCGI), a Hong Kong-incorporated direct investment arm of… Continue reading Chinese EV battery-maker SVOLT closes $1.6b Series B round led by BOCGI …
TuSimple’s self-driving truck network takes shape with Ryder partnership
TuSimple, the self-driving truck company that went public earlier this year, has partnered with Ryder as part of its plan to build out a freight network that will support its autonomous trucking operations. Under the deal announced this week, Ryder’s fleet maintenance facilities will act as terminals for TuSimple’s freight network. TuSimple’s so-called AFN, or… Continue reading TuSimple’s self-driving truck network takes shape with Ryder partnership
Argo AI can now offer the public rides in its autonomous vehicles in California
Argo AI, the autonomous vehicle technology startup backed by Ford and VW, has landed a permit in California that will allow the company to give people free rides in its self-driving vehicles on the state’s public roads. The California Public Utilities Commission issued the so-called Drivered AV pilot permit earlier this month, according to the… Continue reading Argo AI can now offer the public rides in its autonomous vehicles in California
Tesla agrees to pay owners $625 each over battery throttling after class-action lawsuit
Tesla has agreed to settle a class-action lawsuit over throttling battery capacity. The court hasn’t approved the settlement, but it is expected to be and will include a payment of $625 to each affected Tesla owner. Back in 2019, Electrek reported on several reports from Tesla owners about seeing significant drops in range from 12 to 30… Continue reading Tesla agrees to pay owners $625 each over battery throttling after class-action lawsuit