Reuters Videos Nasdaq jumps to record high The Nasdaq closed at its highest level – ever – on Tuesday, as Federal Reserve Chairman Jerome Powell told lawmakers the Fed is keeping an eye on inflation but is still a long way from removing crisis-era assistance to the economy.The Dow rose 68 points. The S&P 500… Continue reading Elon Musk Dumped Radar for Tesla’s Self-Driving Cars. His A.I. Chief Explains Why.
Tag: Tesla
Chinese Tesla rival Xpeng Motors to raise up to $2 billion in Hong Kong listing
Xpeng Motors will raise money to compete in China’s increasingly crowded electric car market against the likes of Tesla and Nio. Go to Source
Sputtering Nissan-Renault alliance stirs shareholder unrest
TOKYO — Nissan Motor’s general shareholders meeting Tuesday spotlighted the struggles of the automaker’s alliance with Renault and Mitsubishi Motors, a partnership that initially promised to rival the likes of Toyota Motor and Volkswagen. Nissan CEO Makoto Uchida apologized to investors for the gap that has opened between Nissan and its rivals, and also for… Continue reading Sputtering Nissan-Renault alliance stirs shareholder unrest
Northvolt, founded by a former Tesla exec, is Europe’s $11.75 billion battery hope. It has a public listing in its sights.
The Swedish startup Northvolt announced Monday it had raised an additional $2.75 billion. The electric-vehicle-battery maker counts Volkswagen, Goldman, and Spotify’s CEO among its backers. CEO Peter Carlsson said the company will eventually need to draw on funds from public markets. See more stories on Insider’s business page. A Swedish startup that is building one… Continue reading Northvolt, founded by a former Tesla exec, is Europe’s $11.75 billion battery hope. It has a public listing in its sights.
World NM: BMW Reportedly Wants to Cut Production Costs by 25% Within the Next Five Years001345
According to BMW board member Milan Nedeljkovic, who’s in charge of production for the Bavarian brand, his company will significantly reduce its production costs by the middle of this decade in an attempt to keep up with rivals such as the VW Group, Daimler, and of course, Tesla. “We will lower the production costs per… Continue reading World NM: BMW Reportedly Wants to Cut Production Costs by 25% Within the Next Five Years001345
VW’s Diess sees autonomy transforming cars more than electrification – Automotive News
CEO says automaker’s joint efforts with Ford on self-driving vehicles are making good progress June 22, 2021 01:09 PM Bloomberg {{ source.title }} {{title}} {{ abstract }} read more {{/main_image_url}} {{^main_image_url}} {{ source.title }} {{title}} {{ abstract }} read more {{/main_image_url}} {{/content}} ]]> Volkswagen Group is undergoing the world’s largest industrial overhaul for the electric-vehicle… Continue reading VW’s Diess sees autonomy transforming cars more than electrification – Automotive News
Lidar company Quanergy to go public via $1.4B SPAC deal
Quanergy Systems, the Sunnyvale, California-based lidar company, said Tuesday it has agreed to merge with special purpose acquisition fund CITIC Capital Acquisition Corp., a Chinese blank-check firm affiliated with the country’s largest state-owned investment conglomerate. The deal, which puts an implied valuation on Quanergy at $1.4 billion, is expected to close in the second half… Continue reading Lidar company Quanergy to go public via $1.4B SPAC deal
Tesla Unveils Top AV Training Supercomputer Powered by NVIDIA A100 GPUs
Tackling one of the largest computing challenges of this lifetime requires larger than life computing. At CVPR this week, Andrej Karpathy, senior director of AI at Tesla, unveiled the in-house supercomputer the automaker is using to train deep neural networks for Autopilot and self-driving capabilities. The cluster uses 720 nodes of 8x NVIDIA A100 Tensor… Continue reading Tesla Unveils Top AV Training Supercomputer Powered by NVIDIA A100 GPUs
Board member says BMW to cut production cost per vehicle by 25%
By Reuters Staff 1 Min Read FILE PHOTO: A logo of German luxury carmaker BMW, is seen ahead of the company’s annual news conference in Munich, Germany, March 20, 2019. REUTERS/Michael Dalder/File Photo FRANKFURT (Reuters) – BMW plans significant production cost cuts by the middle of the decade, one of the German carmaker’s board members… Continue reading Board member says BMW to cut production cost per vehicle by 25%
Tesla backs vision-only approach to autonomy using powerful supercomputer
Tesla CEO Elon Musk has been teasing a neural network training computer called ‘Dojo’ since at least 2019. Musk says Dojo will be able to process vast amounts of video data to achieve vision-only autonomous driving. While Dojo itself is still in development, Tesla today revealed a new supercomputer that will serve as a development… Continue reading Tesla backs vision-only approach to autonomy using powerful supercomputer