Ola Electric, India’s leading electric vehicles manufacturer, today announced that it has raised over $200 million in a funding round, led by Falcon Edge, Softbank and others. The latest funding round took the company’s valuation to $3 billion. Ola Electric, the EV arm of the ride-hailing startup Ola, said, the current round will help it… Continue reading India’s Ola Electric raises $200m round led by Falcon Edge, Softbank, others
Category: Tech News
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Lordstown Motors in talks to sell its 6.2M-square-foot factory to Taiwan’s Foxconn
EV startup Lordstown Motors made headlines when it purchased a 6.2 million-square-foot factory from General Motors in 2019. Now, it looks like the strapped-for-cash startup will likely sell that facility to Taiwan’s Foxconn Technology Group. The news was first reported by Bloomberg, who said unnamed sources suggested the deal could close as early as this… Continue reading Lordstown Motors in talks to sell its 6.2M-square-foot factory to Taiwan’s Foxconn
BP Ventures invests $25m in Indian EV ride-hailing startup BluSmart …
BP Ventures, the venture capital firm of energy major BP, has invested $13 million in integrated EV ride-hailing and charging company BluSmart. It is BP Ventures’ first direct investment in India. It led a $25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns, and Survam Partners, alongside other existing investors.… Continue reading BP Ventures invests $25m in Indian EV ride-hailing startup BluSmart …
Honda is doubling down on rockets, robots, and flying cars
Honda is increasing its research and development spending in three futuristic areas: rockets, robots, and electric vertical takeoff and landing aircraft (eVTOL), otherwise known as flying cars. The automaker will spend $45 billion (5 trillion yen) on R&D over the next six years. But Honda won’t say what fraction of that amount will be spent… Continue reading Honda is doubling down on rockets, robots, and flying cars
Cadillac axes Escalade’s hands-free driving feature due to chip shortage
The 2022 Escalade is heading into production, but it’ll be missing a key feature when the first customers pick up their new ride: the hands-free driving mode known as Super Cruise. It’s the latest feature to get the axe as a result of the global semiconductor shortage, which has been an especially big drain on… Continue reading Cadillac axes Escalade’s hands-free driving feature due to chip shortage
Amazon’s automotive efforts appear to be taking a pit stop
Amazon laid out its plans to make ambient computing an even bigger part of its customers’ lives at its hardware and services event on Tuesday. But while that vision includes surveillance drones and being followed around your home by a rolling Alexa-on-wheels called Astro, it was missing products for the other place people spend a… Continue reading Amazon’s automotive efforts appear to be taking a pit stop
Chinese battery maker CATL to acquire Canada’s Millennial Lithium …
Canada’s Millennial Lithium Corp said late Tuesday Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) has agreed to buy the miner for C$376.8 million ($297.3 million), after outbidding compatriot Ganfeng Lithium. CATL had proposed an offer of C$3.85 per share in cash earlier this month, Argentina-focused Millennial Lithium said, outbidding the C$3.60 per share offer made in… Continue reading Chinese battery maker CATL to acquire Canada’s Millennial Lithium …
China Evergrande to sell $1.5b stake in Shengjing Bank to state firm
Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank Co Ltd to a state-owned asset management company. Shengjing Bank, one of the main lenders to Evergrande, had demanded that all net proceeds from the disposal be used to settle the… Continue reading China Evergrande to sell $1.5b stake in Shengjing Bank to state firm
Tesla asks owners to share fewer clips of ‘Full Self-Driving’ beta mistakes
Tesla is making owners who opt in to the controversial beta version of its “Full Self-Driving” software sign non-disclosure agreements and is also discouraging them from sharing video clips that show the driver assistance system making mistakes. According to a copy of the NDA obtained by Vice, Tesla tells those who sign the document that… Continue reading Tesla asks owners to share fewer clips of ‘Full Self-Driving’ beta mistakes
Toyota’s Woven Planet acquires vehicle operating system developer Renovo Motors
Toyota subsidiary Woven Planet Holdings has made its third acquisition in less than a year in its bid to invest in, develop and eventually bring future-of-transportation technologies like automated driving to market. This time, it’s Renovo Motors, the automotive operating system developer based in Silicon Valley that made its first big splash in 2015, when… Continue reading Toyota’s Woven Planet acquires vehicle operating system developer Renovo Motors