The Securities and Exchange Commission (SEC) is investigating yet another merger between an EV startup and a special purpose acquisition company, or SPAC. This time, it’s the massive deal from July that turned Saudi-owned Lucid Motors into a publicly traded company worth more than $20 billion. Lucid Motors announced the probe in a Monday morning… Continue reading Lucid Motors’ mega SPAC merger is under investigation
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EV automaker Lucid Group under investigation by SEC
Lucid Group has been subpoenaed by securities regulators investigating the electric automaker’s merger that enabled it to become a a publicly traded company. Lucid said in regulatory filing Monday morning that the Securities and Exchange Commission requested certain documents related to its investigation. “Although there is no assurance as to the scope or outcome of… Continue reading EV automaker Lucid Group under investigation by SEC
Argo releases standards for how self-driving cars should act around cyclists
Argo AI, an autonomous driving technology company, teamed up with advocacy group the League of American Cyclists (LAB) to come up with guidelines for how self-driving vehicles should identify and interact with cyclists. The goal is to set a standard for other AV companies in the industry to follow, particularly as the self-driving industry moves… Continue reading Argo releases standards for how self-driving cars should act around cyclists
The Station: Didi delists, a plea for the Chips Act and crypto for in-car purchases
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Welp,… Continue reading The Station: Didi delists, a plea for the Chips Act and crypto for in-car purchases
China Evergrande braces for another debt deadline
After lurching from deadline to deadline, China Evergrande Group is again on the brink of default, with its pessimistic comments condemning its stock to a record low just as direct state involvement raises hope of a managed debt restructuring. Having made three 11th-hour coupon payments in the past two months, Evergrande again faces the end… Continue reading China Evergrande braces for another debt deadline
Softbank-backed SenseTime launches IPO in Hong Kong to raise up to $767m …
Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters. The deal launched on Monday for the company to sell 1.5 billion primary shares within a price range of HK$3.85 to HK$3.99 each, the term sheet said.… Continue reading Softbank-backed SenseTime launches IPO in Hong Kong to raise up to $767m …
Vietnamese EV maker VinFast eyes IPO in US in H2 of 2022 …
Vietnamese conglomerate Vingroup is aiming to list its carmaking unit VinFast in the US in the second half of next year, the company said in a statement on Saturday. Vingroup said it was working with investment banks to prepare for VinFast’s US IPO, which is expected to be the first of its kind by a… Continue reading Vietnamese EV maker VinFast eyes IPO in US in H2 of 2022 …
The Polestar Precept is a cypher for the EV automaker’s future
Polestar will spend the next three years executing a lofty electric vehicle launch schedule that will culminate with the Precept concept, a “Rosetta Stone” of sorts that provides a physical representation of the company’s future. Polestar, the former Volvo company that spun out to become its own brand, refers to the concept as its “manifesto.”… Continue reading The Polestar Precept is a cypher for the EV automaker’s future
Tesla pushes new Full Self-Driving Beta update with improved object detection
Tesla has started to push a new Full Self-Driving Beta software update (version 10.6) to its fleet with improved object detection. It’s the latest step in the long road to improve the FSD package and deliver on a promise to customers that has been delayed several times. Tesla is currently slowly rolling out what it… Continue reading Tesla pushes new Full Self-Driving Beta update with improved object detection
Elon Musk Posts Meme Mocking Crypto Fans, Then Crypto Crashes
Is Elon Musk crashing the crypto market over a sibling rivalry? The top three cryptocurrencies were each down Saturday morning — with the still-dominant Bitcoin down a jarring 12 percent — after the Tesla CEO tweeted a meme mocking crypto fans. The wildest part? It may have been inspired by sibling rivalry. Friday evening, around… Continue reading Elon Musk Posts Meme Mocking Crypto Fans, Then Crypto Crashes