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 …
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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
Elon Musk Reportedly Demanded to Be Made CEO of Apple
Absolute chutzpah. Power Play According to explosive allegations in a new book, Elon Musk once demanded to be made CEO of software megacorporation Apple — prompting Tim Cook, the actual CEO, to hang up the phone in disgust. Here’s how things went down during a 2016 call, according to the Los Angeles Times‘ synopsis of… Continue reading Elon Musk Reportedly Demanded to Be Made CEO of Apple
Nikola’s Fake Hydrogen Truck Was Actually Plugged In During Demo, According to Lawsuit
The hydrogen fuel cell was never actually installed. One-Way Trip Nikola became the laughingstock of the automotive world last year when it emerged that it had rolled its (purportedly) hydrogen-electric semi truck down a hill in a high-profile demo because it couldn’t actually drive yet. Now, though, it turns out the ruse may have been… Continue reading Nikola’s Fake Hydrogen Truck Was Actually Plugged In During Demo, According to Lawsuit
Elon Musk Employees Are Instructed to Tell People He’s “Awesome” and “Inspiring”
“Yup, he’s a great leader! He motivates us to do great work.” Dear Leader If you take a ride on Loop, Elon Musk’s underground tunnel transportation system in Las Vegas, you might get a bizarrely rosy portrait of the enigmatic megabillionaire during your journey. That’s because The Boring Company provides drivers — yes, the high-tech… Continue reading Elon Musk Employees Are Instructed to Tell People He’s “Awesome” and “Inspiring”
Uber slides 4% on report SoftBank will shed a third of its stake in the ride-hailing app
Photo by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Uber’s stock fell 4% on Thursday after CNBC reported SoftBank is offloading a large stake in the firm. The latest share sale could take SoftBank’s holdings in Uber to less than 100 million shares. Reports say the decision is unrelated to SoftBank’s $4 billion loss from its… Continue reading Uber slides 4% on report SoftBank will shed a third of its stake in the ride-hailing app
Nikola founder charged with securities fraud
In Southern District of New York federal court on Thursday, Nikola founder Trevor Milton was charged with securities fraud. The charges allege that Milton made a series of materially false claims which portrayed the electric vehicle company Nikola as far closer to releasing a functional product than it actually was, and raising more than $500… Continue reading Nikola founder charged with securities fraud
Ride-hailing firm Didi Global considers going private to calm China
China‘s Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday. The company has been mulling delisting plans as crackdown in China widens and it has received support from cybersecurity regulators, according to the report, which cited people familiar with the matter. The… Continue reading Ride-hailing firm Didi Global considers going private to calm China