The dearth of growth- to late-stage megadeals continued to suppress fundraising in Greater China in the third quarter, despite the volume of PE-VC deals reaching a record high. The total value of venture investments in startups headquartered in mainland China, Hong Kong, Macau, and Taiwan stood at $15.1 billion in July-September 2022, down 34.7% from… Continue reading Deal count soars in Q3, but fundraising falls YoY in Greater China
Category: Tech News
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SoftBank sets up executive committee to oversee Vision Fund 2
SoftBank Group Corp has created an executive committee to oversee its second Vision Fund, Latin America funds and any future funds, its founder and Chief Executive Masayoshi Son said in a memo to employees reviewed by Reuters. Alex Clavel will oversee investing teams in the United States and Latin America, Greg Moon will manage teams in Europe and Asia and Navneet Govil, Vision Fund‘s chief financial officer, will oversee other functional teams,… Continue reading SoftBank sets up executive committee to oversee Vision Fund 2
GM takes another full-size pickup electric with the 400-mile range GMC Sierra EV
General Motors unveiled Thursday an all-electric GMC Sierra Denali pickup truck, the latest model in the automaker’s march towards a global annual sales target of 1 million electric vehicles by 2025. The GMC Sierra Denali EV isn’t the first electric truck or SUV on GM’s new Ultium platform. It’s actually the brand’s third battery-electric truck,… Continue reading GM takes another full-size pickup electric with the 400-mile range GMC Sierra EV
Uils wants to lend LatAm’s rideshare drivers cash based on their driving record
When Uils launched in 2021, it was a car rental service for rideshare drivers. But after the founders realized that many rideshare drivers don’t have access to credit, particularly in Latin America, the Buenos Aires-based company pivoted to fintech, offering financial services to drivers through a behavioral scoring engine based entirely on a person’s driving… Continue reading Uils wants to lend LatAm’s rideshare drivers cash based on their driving record
EV maker Arrival cutting jobs again in pivot away from UK to the US
Commercial EV company Arrival is restructuring its business for the second time in six months as it tries to squeeze the most out of its remaining capital. The company said in a regulatory filing posted Thursday that it is shifting its focus to the United States and away from the UK market, where it is… Continue reading EV maker Arrival cutting jobs again in pivot away from UK to the US
Lyft co-founder says autonomous vehicles won’t replace drivers for at least a decade
Human drivers on the Lyft platform aren’t going to be replaced by autonomous vehicles anytime soon, company co-founder and president John Zimmer told the audience today at TechCrunch Disrupt. “I can’t imagine anytime in the next decade-plus where we would need any less drivers,” he said, noting that he envisions autonomous vehicles handling anywhere from… Continue reading Lyft co-founder says autonomous vehicles won’t replace drivers for at least a decade
Tesla is now taking votes for its next Supercharger locations
/ With over 4,000 Supercharger stations worldwide, the company is now letting owners vote on where to build next Photo by Amelia Holowaty Krales / The Verge The next Supercharger station location is up to Tesla owners. The all-electric automaker put out the invitation to vote on new locations via its Tesla Charging Twitter account… Continue reading Tesla is now taking votes for its next Supercharger locations
NanoGraf’s Li-ion 18650 battery achieves a new energy-density milestone
Chicago-headquartered NanoGraf Technologies, which claims it has enabled the highest energy-density cylindrical 18650 Lithium-ion cell in the world, today announced that its battery has achieved a new industry energy-density milestone of 810 Wh/L (4.0Ah capacity). Ampere hours (Ah) is the amount of energy charge in a battery that enables 1 ampere of current to flow for one hour. In 2021, NanoGraf announced it… Continue reading NanoGraf’s Li-ion 18650 battery achieves a new energy-density milestone
Tesla opens up voting for new supercharger locations
Tesla has opened their planned Supercharger voting site, allowing the public to cast votes for upcoming Supercharger locations. Tesla Superchargers have reached high penetration levels already – earlier this year, Tesla deployed its 35,000th Supercharger stall globally. This represents about a 35% year-over-year increase in the last few years. The Supercharger map shows that there… Continue reading Tesla opens up voting for new supercharger locations
Tesla makes progress on 4680 battery cells, reduces dependence on them
Tesla gave an update on the progress of ramping up 4680 battery cell production. It sounds like they are making progress, but the automaker also appears to be reducing dependence on the new cell. At its Battery Day in 2020, Tesla unveiled its 4680 battery cell and made a big deal about how the new… Continue reading Tesla makes progress on 4680 battery cells, reduces dependence on them