Amazon-backed EV startup Rivian has laid off about 40 employees at its engineering and design center in Plymouth, Michigan, The Verge has learned. The cuts, which the company has confirmed to The Verge, were made across departments and included engineers, recruiters, and others, according to two former employees. The company has also made a number… Continue reading Rivian makes cuts and names new chief operating officer
Tag: Waymo/Google
Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
Chinese ride-hailing giant Didi Chuxing announced on Friday that its autonomous driving subsidiary has raked in $500 million in what is the firm’s first external funding round since Didi created the subsidiary in 2016. Led by SoftBank’s Vision Fund 2 and claimed to be the largest fundraising round in China’s autonomous driving sector, the transaction… Continue reading Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
SoftBank leads $500 million fundraising for Didi’s self-driving unit
FILE PHOTO: Logo of Didi Chuxing is seen at its headquarters building in Beijing, China August 28, 2018. REUTERS/Jason Lee BEIJING/SHANGHAI (Reuters) – China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group’s (9984.T) Vision Fund 2. The… Continue reading SoftBank leads $500 million fundraising for Didi’s self-driving unit
Scale AI releases free lidar data set to power self-driving car development
High-quality data is the fuel that powers AI algorithms. Without a continual flow of labeled data, bottlenecks can occur and the algorithm will slowly get worse and add risk to the system. It’s why labeled data is so critical for companies like Zoox, Cruise and Waymo, which use it to train machine learning models to… Continue reading Scale AI releases free lidar data set to power self-driving car development
Waymo expands first external investment round to $3 billion
Waymo has added an additional $750 million to the $2.25 billion funding round that it first announced in March, bringing the total size of the financing (its first from investors outside of Alphabet) to $3 billion. The extension comes from new investors, including those managed by T. Rowe Price, Perry Creek Capital, Fidelity Management and… Continue reading Waymo expands first external investment round to $3 billion
Waymo Adds $750 Million to War Chest as Driverless Cars Prove Tough to Deploy – The Wall Street Journal
In the world of driverless cars, the big keep getting bigger. Waymo LLC has raised a further $750 million, pushing the total outside investment the company has announced in the past two months to $3 billion and bolstering its financial war chest at a time when the coronavirus pandemic has created new uncertainty in the… Continue reading Waymo Adds $750 Million to War Chest as Driverless Cars Prove Tough to Deploy – The Wall Street Journal
Fiat Chrysler and AV startup Voyage partner on self-driving minivans
Self-driving vehicle startup Voyage said Monday that it has inked a deal with Fiat Chrysler to supply purpose-built vehicles, a partnership that will help accelerate its plan to launch a fully driverless ride-hailing service. Voyage, a three-year-old startup that tests and operates a self-driving vehicle service (with human safety operators) in retirement communities in California… Continue reading Fiat Chrysler and AV startup Voyage partner on self-driving minivans
Resuming our driving operations in Phoenix
Back in March, we decided to suspend our driving operations in response to COVID-19 to ensure the safety of everyone involved in our services and local communities. Starting this coming Monday, May 11, Arizonans will begin to see some Waymo vehicles back on the road. The first part of our tiered approach to safely resume… Continue reading Resuming our driving operations in Phoenix
Magna Announces First Quarter 2020 Financial Results
Sales of $8.7 billion decreased 18%, compared to global light vehicle production down 27%Estimated COVID-19 impacts of approximately $1.1 billion on sales, $250 million on income from operations before income taxes and Adjusted EBITCash from operations of $639 million, an 8% increase over the first quarter of 2019AURORA, Ontario, May 07, 2020 (GLOBE NEWSWIRE) —… Continue reading Magna Announces First Quarter 2020 Financial Results
Silver Lake to invest $747M in India’s Jio Platforms
Weeks after Facebook invested $5.7 billion in Jio Platforms, India’s top telecom operator, private equity firm Silver Lake is following suit — and is willing to pay a premium for it. Silver Lake announced on Monday it will be investing 56.56 billion Indian rupees (about $746.8 million) in Jio Platforms for about 1.15% stake in the Indian… Continue reading Silver Lake to invest $747M in India’s Jio Platforms