Category: Tech News

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European micromobility startup Reby acquired by PE player House of Lithium for $100M

Founded in 2018, European micromobility startup Reby took an interesting path. It deployed e-scooters in the city of Zaragoza (Spain), during the COVID-19 pandemic, but also created a SaaS-oriented “MaaS” (mobility-as-a-service) platform. It then won 18 agreements with public administrations for e-mobility across Italy and Spain, slightly under the radar compared with large, well-funded players… Continue reading European micromobility startup Reby acquired by PE player House of Lithium for $100M

McLaren will join Formula E in 2023

Team news is starting heat up ahead Formula E’s Gen3 debut next season, and today one of the bigger expected announcements was made official. Ahead of the Berlin E-Prix, McLaren Racing announced its move to Formula E for season nine, committing to fielding a team when the series’ new spec makes its first competitive laps.… Continue reading McLaren will join Formula E in 2023

Tesla abandons plans to enter the Indian market for now

Tesla has officially abandoned its effort to enter the Indian market and even started to reassign local employees. The automaker couldn’t get the government to change its mind on high import tariffs for foreign electric vehicles. India has the biggest auto market that Tesla has yet to enter. For years, Elon Musk said that Tesla’s… Continue reading Tesla abandons plans to enter the Indian market for now

Foxconn wastes no time announcing Fisker PEAR will be built at newly acquired Lordstown plant

Less than twenty-four hours after announcing the closing of its purchase of an Ohio assembly plant from Lordstown Motors, Foxconn and its partner Fisker Inc. announced the facility will soon be home to production of the latter’s upcoming PEAR EV. We first learned of Project PEAR, an acronym for Personal Electric Automotive Revolution, in February… Continue reading Foxconn wastes no time announcing Fisker PEAR will be built at newly acquired Lordstown plant

Rivian issues recall for R1T electric truck over faulty airbag sensors

Rivian is recalling some of its R1T electric pickup trucks over faulty airbag systems, according to a notice filed with the National Highway Traffic Safety Administration (NHTSA). The vehicle’s sensors in the front seat may not deactivate the airbag when a child occupies the front passenger seat, necessitating the recall. The recall covers 502 R1T… Continue reading Rivian issues recall for R1T electric truck over faulty airbag sensors

EV company Lordstown completes $230 million sale of its Ohio factory to Foxconn

Struggling EV company Lordstown completed the sale of its Ohio factory to Foxconn, the Taiwanese company that assembles Apple’s iPhone. The factory, which sold for $230 million, will now become the site of a joint venture between the two companies. The deal was originally set to close last month, but Lordstown kept pushing back the… Continue reading EV company Lordstown completes $230 million sale of its Ohio factory to Foxconn

Tesla asks Panasonic to speed up development of its 4680 battery cell

Tesla has asked Panasonic to speed up its development of the 4680 battery cell, which is going to power its next-gen electric vehicles. The Japanese manufacturer is reportedly still looking for a location for a US factory. Back in 2020, Tesla unveiled its 4680 battery cell, a new tab-less battery cell in a bigger format with… Continue reading Tesla asks Panasonic to speed up development of its 4680 battery cell

Rivian lost $1.59 billion and delivered 1,227 electric trucks in the first quarter of 2022

Rivian, the buzzy electric vehicle company backed by Ford and Amazon, reported a net loss of $1.59 billion in the first quarter of 2021 based on $95 million in revenue. The company said it delivered 1,227 vehicles to customers during the past three months, bringing its total number of deliveries to 2,148. Rivian said it… Continue reading Rivian lost $1.59 billion and delivered 1,227 electric trucks in the first quarter of 2022

Vietnam’s Vinfast says IPO may be delayed to 2023 due to market uncertainty …

The chairman of Vietnam’s Vingroup conglomerate said on Wednesday that an initial public offering (IPO) for the company’s auto unit, VinFast, may be delayed until next year due to market uncertainty. The IPO is currently slated for the fourth quarter of this year. Vingroup Chairman Pham Nhat Vuong also told the company’s annual general meeting the… Continue reading Vietnam’s Vinfast says IPO may be delayed to 2023 due to market uncertainty …