Lime said Monday it has allocated $50 million towards its bike-share operation, an investment that has been used to develop a new ebike and will fund its expansion this year to another 25 cities in North America, Europe, and Australia and New Zealand. If the company hits its goal, Lime’s bike-share service will be operational… Continue reading Lime unveils new ebike as part of $50 million investment to expand to more 25 cities
Tag: Uber
Lime says it will spend $50 million on a huge e-bike expansion
Lime is getting back to its roots. The scooter company formerly known as LimeBike says it will invest $50 million to grow its shared electric bicycle network, including adding a new model of bike and doubling the number of cities in which it operates. Lime got its start with shared bikes, only to quickly pivot… Continue reading Lime says it will spend $50 million on a huge e-bike expansion
Uber stock slips as Chinese rival reportedly plans to enter the Western European market (UBER)
Nisian Hughes/Getty Images Uber shares fell Wednesday with a report that rival Didi is preparing to operate in Europe. Didi is considering ride-hailing services in the UK, France and Germany, The Wall Street Journal reported. Didi is making expansion plans ahead of a possible IPO for the Beijing-based company. Visit the Business section of Insider… Continue reading Uber stock slips as Chinese rival reportedly plans to enter the Western European market (UBER)
Tesla prepares cloud-based driver profile ahead of ‘Tesla Network’ ride-hailing app launch
Tesla is preparing to move all driver data and settings into the cloud ahead of the launch of its “Tesla Network” ride-hailing app launch. Driver profiles exist in Tesla vehicles and are linked to keys (or phones through the Tesla app) in order to automatically have your seat, mirror, music settings, etc. set in your… Continue reading Tesla prepares cloud-based driver profile ahead of ‘Tesla Network’ ride-hailing app launch
Air taxi startup Joby to go public in $6.6 billion blank-check deal
Joby is the first aerial vehicle startup to go public via the SPAC route. By Paul Lienert and Anirban Sen Joby Aviation, the 12-year-old electric air taxi startup partnered with Toyota Motor Corp and Uber Technologies, will go public in a $6.6 billion reverse merger with blank check company Reinvent Technology Partners, the firms said… Continue reading Air taxi startup Joby to go public in $6.6 billion blank-check deal
Joby Aviation takes flight into the public markets via a SPAC merger
Joby Aviation, a startup that has spent more than a decade developing an all-electric, vertical take-off and landing passenger aircraft, will become a public company through a merger with Reinvent Technology Partners, a special purpose acquisition company from well-known investor and LinkedIn co-founder Reid Hoffman. The combined company, which will be listed on the New… Continue reading Joby Aviation takes flight into the public markets via a SPAC merger
Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money.
Electric vehicle startup Lucid Motors plans to go public via SPAC at a $24 billion valuation. The company struggled for years before getting $1.3 billion from Saudi Arabia in 2019. The deal increases Saudi Arabia’s ownership stage from 67% to 85%. Visit the Business section of Insider for more stories. Somewhere out there, there’s a… Continue reading Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money.
Uber drops 2% after the UK Supreme Court rules that its drivers are employees, not contractors (UBER)
A black-cab driver waves a Union Jack flag whilst standing on a taxi on London Bridge, during a protest against TfL and Uber. Kirsty O’Connor – PA Images / Getty Images Uber fell as much as 2% on Friday after the UK Supreme Court ruled that its drivers are employees rather than contractors. The ruling… Continue reading Uber drops 2% after the UK Supreme Court rules that its drivers are employees, not contractors (UBER)
Ford sells stake in Velodyne, a maker of autonomous-car sensors
Ford Motor Co. has sold off its stake in Velodyne Lidar Inc., a leading maker of sensors being used in the development of self-driving cars. Ford, which invested $75 million in Velodyne in 2016, no longer held any shares as of the end of last year, according to a regulatory filing. The automaker held almost… Continue reading Ford sells stake in Velodyne, a maker of autonomous-car sensors
World NM: Goldman Sachs is creating an auto-tech joint venture amid a SPAC boom for EV and lidar companies: Report000858
Goldman Sachs is forming an investment-banking joint venture that will specialise in automotive technology, Bloomberg reported on Friday. Auto technology has provided plenty of dealmaking and underwriting opportunities for Wall Street banks in recent years, as there have been a number of high-profile acquisitions and public listings involving electric-vehicle, autonomous-vehicle, and ride-hailing companies. Goldman has… Continue reading World NM: Goldman Sachs is creating an auto-tech joint venture amid a SPAC boom for EV and lidar companies: Report000858