Doron Myersdorf, StoreDot CEO StoreDot, a Herzeliya, Israel-based maker of extreme fast charging – XFC -technologies for electric vehicles, has secured a multi-million-dollar investment from Ola Electric. The new funding comes as part of StoreDot’s Series D investment round. Ola is joining a wide range of high-profile investors and partners in StoreDot – a roster… Continue reading StoreDot Receives Investment from Ola Electric
Category: Tech News
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Apple Maps EV routing is now available for the Ford Mustang Mach-E
It’s about to get easier for Ford Mustang Mach-E drivers to find the nearest charging station, thanks to a new iOS 15.4 update for Apple Maps. According to 9to5Mac, EV routing can now be activated on the Mach-E through Apple Maps on CarPlay, Apple’s in-car system. The feature was first previewed during WWDC 2020, and… Continue reading Apple Maps EV routing is now available for the Ford Mustang Mach-E
Self-driving truck startup TuSimple to explore options for APAC businesses
Self-driving driving truck startup TuSimple Holdings Inc said on Monday it would explore “certain transactions” for its Asia-Pacific-focused businesses, sending shares in the company up 2.3% in premarket trade. The company, backed by Chinese social media firm Sina Corp, said the exploration process does not include plans for a divestiture or a similar transaction for any of… Continue reading Self-driving truck startup TuSimple to explore options for APAC businesses
Luminar acquisition brings high-performance laser capabilities in-house
Luminar, a company that builds vision-based lidar and machine perception technologies for autonomous vehicles, is acquiring high-performance laser manufacturer Freedom Photonics on Monday. The all-stock transaction involves Luminar selling 3 million shares of its common stock, or about $42.3 million at today’s share price, per a regulatory filing. The buy is Luminar’s latest to vertically… Continue reading Luminar acquisition brings high-performance laser capabilities in-house
VW will invest $7.1 billion in its North American production capacity
Volkswagen’s electrification efforts in North America will receive an additional $7.1 billion investment over the next five years, the company announced on Monday. VW intends to spend that money on “[boosting] its product portfolio, regional R&D and manufacturing capabilities,” per a release, in hopes that doing so will help drive 55 percent of its US… Continue reading VW will invest $7.1 billion in its North American production capacity
Musk reveals plan to scale Tesla to ‘extreme size’
Elon Musk signaled plans to scale Tesla to the “extreme” while teasing the release of Tesla’s “Master Plan Part 3” on Twitter one day before opening the automaker’s first European factory. On Monday, Musk revealed on Twitter the themes that will dominate the next installment in Tesla’s long-term playbook: artificial intelligence and scaling the automaker’s… Continue reading Musk reveals plan to scale Tesla to ‘extreme size’
China’s NIO Capital closes oversubscribed USD Fund II at $400m …
NIO Capital, an investment firm founded by Chinese electric vehicle (EV) maker NIO, announced on Monday that it reached the final closing of a flagship fund at about $400 million to step up investments in energy, automobiles, and deep technology industries. The new fund, named “Eve ONE Fund II,” received capital commitments from a diversified… Continue reading China’s NIO Capital closes oversubscribed USD Fund II at $400m …
The Station: GM deepens it stake in Cruise and Porsche plots out its EV course
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. (Folks, a technical snafu meant the weekly newsletter wasn’t emailed to subscribers this Sunday, so we’re posting this now. We regret the error.) Hello readers: Welcome to The… Continue reading The Station: GM deepens it stake in Cruise and Porsche plots out its EV course
GM is buying out Softbank’s stake in autonomous vehicle unit Cruise
General Motors is expanding its ownership stake in self-driving car subsidiary Cruise. The automaker said late Friday that is is acquiring Softbank Vision Fund 1’s equity ownership in Cruise for $2.1 billion. GM is also making an additional $1.35 billion investment in Cruise, replacing a previous commitment made by the fund in 2018. The announcement… Continue reading GM is buying out Softbank’s stake in autonomous vehicle unit Cruise
GM recalls Hummer EV over bad software in the taillights
GM has initiated a recall on the Hummer EV electric pickup truck over bad software affecting the taillights. However, it can’t fix the problem with a software update, and owners will have to go to dealerships to potentially have their taillights replaced. The Hummer EV is GM’s first vehicle using its new Ultium platform, but… Continue reading GM recalls Hummer EV over bad software in the taillights