Neom, the smart and sustainable regional development in northwest Saudi Arabia, announced that it has invested $175 million in German urban air mobility startup Volocopter. The investment was part of the additional $182 million that Neom raised in its Series E funding round, which was also participated by Hong Kong’s GLy Capital Management. In March,… Continue reading Saudi’s Neom invests $175m in German aviation startup VolocopterThe investment was part of the additional $182m that Neom raised in Series E round.
Category: Tech News
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Japan’s Sumitomo Mitsui to boost stake in Philippines’ RCBC for $460m
Japan’s Sumitomo Mitsui Financial Group Inc said on Wednesday it would buy an additional 15% stake in the Philippines’ Rizal Commercial Banking Corp (RCBC) for about $460 million. The move is part of a drive by Japan’s second-largest lender to capture growth in Asian emerging markets through acquisitions, spurred on by limited business opportunities at… Continue reading Japan’s Sumitomo Mitsui to boost stake in Philippines’ RCBC for $460m
France, Singapore, Switzerland jointly test central bank digital currencies
France, Singapore and Switzerland have launched a joint trial of their experimental central bank digital currencies (CBDCs) in the first cross-regional trial of its kind. The project, which will run for around six months, will use what is known as automated market makers (AMM) for the cross-border exchange of “hypothetical” Swiss franc, euro and Singapore dollar CBDCs. AMM… Continue reading France, Singapore, Switzerland jointly test central bank digital currencies
Elon Musk could cut half of Twitter’s workforce
/ Twitter workers have been bracing for layoffs, and it appears that nearly 4,000 people could be affected by the eventual cuts. Musk and his advisers are weighing cuts that would affect nearly 4,000 people.Illustration by Kristen Radtke / The Verge; Getty Images Twitter employees have been bracing for layoffs since Elon Musk officially took… Continue reading Elon Musk could cut half of Twitter’s workforce
Aurora says it has enough cash to commercialize autonomous trucks by 2024
Autonomous vehicle technology company Aurora Innovation released its third-quarter earnings report after the bell Wednesday. The company closed out the quarter with about $1.2 billion in cash and short-term investments, which Aurora says will be enough to make it to commercial launch in mid-2024. Those statements were made just days after former competitor Argo AI… Continue reading Aurora says it has enough cash to commercialize autonomous trucks by 2024
Fisker bumps up production for all-electric Ocean SUV
Fisker is raising its manufacturing forecast two weeks before its first electric vehicle, the Ocean SUV, enters production. The automaker plans to produce 42,400 Ocean SUVs by the end of 2023, up from an initial forecast of 40,000, due to strong demand in the U.S. and Europe. The company said it has received 62,000 reservations… Continue reading Fisker bumps up production for all-electric Ocean SUV
George Hotz, aka ‘geohot,’ is leaving Comma.ai for a lofty AI project
Four years ago, Comma.ai founder George Hotz turned to his board — of which he is the only member — and fired himself as CEO. At the time, the goal for the famed iPhone and PlayStation 3 hacker, known as geohot, was to build out a new research division to focus on behavioral models that… Continue reading George Hotz, aka ‘geohot,’ is leaving Comma.ai for a lofty AI project
Honda patents this teeny tiny electric motorcycle that snaps together with others like Transformers
Honda may have its eyes on the lucrative shared electric mobility market, based on new patent images showing a fascinating little electric motorcycle or e-scooter variant. Companies like Bird, Lime, Veo, Tier, and others have rolled out increasingly interesting electric scooters and e-mopeds designed for sharing applications in dense urban areas. While stand up scooters… Continue reading Honda patents this teeny tiny electric motorcycle that snaps together with others like Transformers
GM and Microvast pair up to develop tech to boost battery safety
Separators are safety-critical EV battery components, so GM and battery maker Microvast are pairing up to develop the technology of separators, as well as build a new separator plant in the United States. Separators separate the anode from the cathode, allowing for ion transfer. It’s one of the most important elements inside the battery cell. The… Continue reading GM and Microvast pair up to develop tech to boost battery safety
No, Tesla Cybertruck production is not being further delayed
Reports of Tesla Cybertruck production being delayed again are coming out, but these are based on a weak and confusing report. There’s no evidence that the electric truck is not on schedule. When Tesla unveiled the Cybertruck back in 2019, Tesla said that the electric pickup truck would make it to market by the end… Continue reading No, Tesla Cybertruck production is not being further delayed