Category: Tech News

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Lordstown reports $90 million loss and no progress on Foxconn deal

Lordstown Motors, the long-suffering battery-electric truck maker, said in a filing with the U.S. Securities and Exchange Commission on Monday that it has not yet closed a $230 million deal with Foxconn ahead of a May 14 deadline that would allow it to remain a going concern. Under the terms of the agreement, Taiwanese tech… Continue reading Lordstown reports $90 million loss and no progress on Foxconn deal

Uber to cut costs, slow down hiring to turn lean, CEO tells employees

Uber Technologies Inc will scale back hiring and reduce expenditure on its marketing and incentive activities, CNBC reported on Monday, citing a letter from Chief Executive Officer Dara Khosrowshahi. The ride-hailing company becomes the latest to rein in costs to have a lean investment model, after Facebook-owner Meta Platforms Inc said last week it would slow down the growth of its workforce. Khosrowshahi… Continue reading Uber to cut costs, slow down hiring to turn lean, CEO tells employees

Clean Tecnica: Tesla’s Recycled Batteries: Almost 92% Reuse Of Raw Materials 001954

Tesla’s recycled batteries have provided almost 92% of their original raw materials back to Tesla for future use, according to new information in Tesla’s 2021 Impact Report. Tesla’s factories are already using an in-house, closed-loop recycling system. This allows for all of Tesla’s batteries that it receives to be recycled with up to 92% of… Continue reading Clean Tecnica: Tesla’s Recycled Batteries: Almost 92% Reuse Of Raw Materials 001954

Chinese new energy startup Greater Bay Technology raises $150m, joins unicorn club …

Guangzhou Greater Bay Technology, which is incubated by Chinese state-owned automaker GAC Group, has closed nearly 1 billion yuan ($149.8 million) in a Series A round to become the latest unicorn company from China’s new energy sector. The Guangzhou-based startup said in a statement on Thursday that it reached the unicorn valuation of over $1… Continue reading Chinese new energy startup Greater Bay Technology raises $150m, joins unicorn club …

Some new BMWs will reportedly come without Android Auto and Apple CarPlay

BMW is temporarily shipping some new vehicles without support for Android Auto and Apple CarPlay after changing chip suppliers, according to a report from Automotive News Europe (via 9to5Google). The chips from the new supplier reportedly aren’t compatible with Android Auto and CarPlay yet, and require an update for the software to work. “The chips… Continue reading Some new BMWs will reportedly come without Android Auto and Apple CarPlay

Lucid raises its EV prices as the company continues to struggle with production

Lucid Motors is raising the prices of its luxury electric vehicles, as the company continues to struggle with production. The company reported delivering only 360 vehicles to customers in the first quarter of 2022. As of June 1st, Lucid’s newly increased prices will be $154,000 for the Air Grand Touring (previously $139,000), $107,400 for Air… Continue reading Lucid raises its EV prices as the company continues to struggle with production

Vietnam-based investment app Finhay said to raise $25m funding

Singapore-based Openspace Ventures and mid-market private equity firm Vietnam Investment Group (VIG) are understood to have co-led a $25 million funding round for Vietnamese robo-advisor Finhay. Finhay’s existing backer, Thien Viet Securities (TVS), also participated in the round, sources familiar with the matter told DealStreetAsia. Go to Source

Indonesian used car marketplace Moladin raises $95m in DST-led Series B …

Moladin, an Indonesia-based marketplace for used cars and motorbikes, has raised $95 million in its Series B funding round led by DST Global, according to regulatory filings seen by DealStreetAsia – DATA VANTAGE. The filing with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) confirms DealStreetAsia’s report in April that said the startup was finalising a… Continue reading Indonesian used car marketplace Moladin raises $95m in DST-led Series B …

Lucid is raising prices on its luxury Air EV by as much as 13%

Lucid Group is the latest automaker to up the price of its electric vehicles. The company announced Thursday alongside its first-quarter earnings report that it was raising prices of the variants of its luxury Air sedan, beginning June 1. The price hikes pushes base price of the Air sedan as much as 13%. All existing… Continue reading Lucid is raising prices on its luxury Air EV by as much as 13%