Temasek, which invested through its affiliate Macritchie Investments Pte. Ltd., led a ₹398 crore ($53 million) financing round for Ola Electric at a post-money equity valuation of $2.7 billion ( ₹2025 crore), according to VCCircle estimates. The company issued 371 Series C preference shares to a dozen investors at ₹1,07,34,860 apiece, according to a recent regulatory disclosure filing.… Continue reading India: Ola Electric raises $53m led by Temasek, valued at $2.7b
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Volkswagen closes three new partnerships to amp up EV production
Volkswagen has entered into three new partnerships related to electric vehicle batteries, as the German automaker looks to transition its entire portfolio of cars, trucks and SUVs to zero-emission vehicles by 2040. The three separate partnerships, all of which were announced Wednesday, are with materials technology group Umicore, battery specialist 24M Technologies and Vulcan Energy… Continue reading Volkswagen closes three new partnerships to amp up EV production
Autonomous driving startup Deeproute.ai prices L4 solution at $10,000
Deeproute.ai, an autonomous vehicle startup with offices in Shenzhen and Fremont, California, unveiled an ambitious self-driving solution on Wednesday. The package, named DeepRoute-Driver 2.0, is a production-ready Level 4 system that costs approximately $10,000. The price tag is incredible given the hardware used: five solid-state lidar sensors, eight cameras, a proprietary computing system, and an… Continue reading Autonomous driving startup Deeproute.ai prices L4 solution at $10,000
China’s Evergrande edges closer to default, misses debt deadline
China Evergrande did not make payments on some U.S. dollar bonds at the end of a month-long grace period, sources familiar with the situation told Reuters on Tuesday, setting the stage for a massive default by the world’s most indebted property developer. Adding to a liquidity crisis in China’s once bubbling property market, smaller peer Kaisa Group Holdings was also unlikely… Continue reading China’s Evergrande edges closer to default, misses debt deadline
Elon Musk: Tesla Bot can solve labor shortage, but there’s no clear timeline
Elon Musk gave an update on Tesla Bot, Tesla’s upcoming humanoid robot project, and said that he believes it can solve the labor shortage issue. But the CEO is not committing to any timeline. Earlier this year, Musk announced plans for Tesla Bot, a humanoid robot equipped with artificial intelligence aimed at completing general repetitive tasks. At… Continue reading Elon Musk: Tesla Bot can solve labor shortage, but there’s no clear timeline
Intel is taking its self-driving company Mobileye public in 2022
Intel announced that it will take public its self-driving technology company Mobileye, the Israeli company it acquired for $15.3 billion in 2017. The chipmaker said that by listing Mobileye’s shares on the stock market, it hopes to unlock more value for Intel’s shareholders. Intel will remain the majority shareholder in Mobileye. In a statement, Intel… Continue reading Intel is taking its self-driving company Mobileye public in 2022
Tesla Engineers Say Elon Musk Misled the Public About Autopilot’s Safety
Would you trust Autopilot? Blow the Whistle Nineteen Tesla engineers went public earlier today about their concerns over the safety of Tesla’s Autopilot features, saying that CEO Elon Musk hasn’t been upfront about the risks to drivers and the public. The automaker promised to the herald in the future of driving through Autopilot, a system of… Continue reading Tesla Engineers Say Elon Musk Misled the Public About Autopilot’s Safety
EV startup Arrival is building a $11.5 million battery plant in North Carolina
British-American vehicle manufacturer Arrival today announced it plans to establish an $11.5 million battery plant in Charlotte, North Carolina. The factory will be the company’s third overall facility in the city. It will be located just steps away from its soon-to-be-complete North American headquarters. Once the plant is operational, it will supply batteries to the… Continue reading EV startup Arrival is building a $11.5 million battery plant in North Carolina
Samsung combines mobile and consumer electronics businesses
Samsung Electronics has announced an internal reorganization of its businesses with several changes to leadership. The company will have two new CEOs overseeing two divisions: Device Solutions, which is the semiconductors business, and a new SET Division that includes mobile, TVs, and consumer electronics. It’s the biggest change to Samsung’s structure since 2017, when the… Continue reading Samsung combines mobile and consumer electronics businesses
EV maker Arrival to build high-voltage battery module assembly plant in North Carolina
Arrival, the electric vehicle manufacturer that aims to break up the assembly line in favor of multiple microfactories, is investing $11.5 million to build a high-voltage battery module assembly plant in Charlotte, North Carolina. The plant will provide batteries for electric buses and vans produced at the company’s microfactories in Rock Hill, South Carolina and… Continue reading EV maker Arrival to build high-voltage battery module assembly plant in North Carolina