Category: Tech News

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Rivian reportedly plans to invest $5 billion in its second US assembly plant

Last week, news leaked out that Rivian was planning to build a second US manufacturing plant for its electric vehicles and batteries, and now more details have leaked out. The company plans to invest $5 billion initially in the second plant, dubbed Project Tera, with construction slated to start in the fall of 2021, according… Continue reading Rivian reportedly plans to invest $5 billion in its second US assembly plant

Elon Musk Warns That Each Cybertruck Could Cost “Literally a Million Dollars”

Tesla’s Cybertruck could be extremely expensive if the company doesn’t figure out the production of its next-generation 4680 battery cells. Both the Cybertruck and the company’s Semi truck are both designed around the new battery units — meaning that if the company can’t lock down their production, it will endanger its next phase of heavy… Continue reading Elon Musk Warns That Each Cybertruck Could Cost “Literally a Million Dollars”

Joby Aviation, aiming to go to market in 2024, completes 154-mile test flight

Santa Cruz, California-based Joby Aviation has completed the longest test flight of an eVTOL to date: Its unnamed full-sized prototype aircraft concluded a trip of over 150 miles on a single charge, the company said Monday. The test was completed at Joby’s Electric Flight Base in Big Sur, California, earlier this month. It’s the latest… Continue reading Joby Aviation, aiming to go to market in 2024, completes 154-mile test flight

Onto raises $175 million in Series B to expand EV subscription service in the UK

Onto has raised $175 million in a combined equity and debt Series B round, capital the U.K.-based electric vehicle subscription startup plans to use to expand within the country as well as move into new markets.  This latest round brings Onto’s total funding to $245 million. Swedish VC Alfvén & Didrikson is leading the round… Continue reading Onto raises $175 million in Series B to expand EV subscription service in the UK

Lucid Motors kicks off market debut with EV factory expansion plans

Lucid Group (formerly Lucid Motors) will be expanding its factory in Casa Grande, Arizona, by 2.7 million square feet, CEO Pete Rawlinson said Monday just hours after the company officially went public with a $4.5 billion injection of capital. The company also said it has 11,000 paid reservations for its flagship luxury electric sedan, the… Continue reading Lucid Motors kicks off market debut with EV factory expansion plans

Lucid Motors goes public, collects $4.5 billion

Electric vehicle startup Lucid Motors is now a publicly traded company, following the completion of a merger where it fetched an eye-watering $4.5 billion in fresh capital. Shares of the Saudi-owned, California-based startup began trading on the Nasdaq stock exchange Monday morning. Lucid Motors will now turn its full attention back to an even taller… Continue reading Lucid Motors goes public, collects $4.5 billion

Uber’s trying no-meeting Mondays to give employees a break from ‘tiring’ back-to-back meetings, a leaked email reveals (UBER)

Uber has scheduled two “no-meeting” days this summer. “We know it can be tiring to have back-to-back meetings,” the company’s HR chief wrote in an email. The move comes as workers are spending more time in meetings. Uber has designated two Mondays this summer as meeting-free, chief people officer Nikki Krishnamurthy said in a company-wide… Continue reading Uber’s trying no-meeting Mondays to give employees a break from ‘tiring’ back-to-back meetings, a leaked email reveals (UBER)

Google’s self-driving startup Waymo argues the UK shouldn’t cap autonomous cars on the road

Google’s self-driving division Waymo argued the UK shouldn’t restrict autonomous cars on the road. Its comments come as the UK consults on the regulation of driverless cars. Cars with some level of self-driving capabilities will be permitted on UK roads this year. Loading Something is loading. Waymo, the self-driving vehicles startup owned by Google, has… Continue reading Google’s self-driving startup Waymo argues the UK shouldn’t cap autonomous cars on the road

Peer-to-peer car rental startup Getaround fined nearly $1M by DC’s attorney general

Getaround was fined nearly $1 million by the Washington, D.C. Office of the attorney general for operating without a license and other violations, part of a settlement of what the peer-to-peer car rental startup calls “politically motivated allegations.” The AG’s office started investigating the company early last year, after it received reports of vehicle thefts… Continue reading Peer-to-peer car rental startup Getaround fined nearly $1M by DC’s attorney general