Tag: Didi

Toyota fined by China’s regulator for violating anti-monopoly laws

BEIJING (Kyodo) — China’s market regulator on Friday fined Toyota Motor, Japan’s largest automaker, 500,000 yuan ($77,313) for violating anti-monopoly laws. Toyota failed to report to the authorities in advance when in 2019, it set up a joint venture with Didi Chuxing, a major Chinese ride-hailing service, the regulator said. The latest move came as Chinese… Continue reading Toyota fined by China’s regulator for violating anti-monopoly laws

Lyft joins Uber in ditching plans to make its own self-driving car, selling its autonomous vehicle unit to Toyota for $550 million

Toyota is buying Lyft’s self-driving technology unit for $550 million, the companies said Monday. Lyft joins Uber in ditching plans to make its own self-driving vehicle. The self-driving unit, Level 5, will become a part of Toyota’s new Woven Planet division. See more stories on Insider’s business page. Toyota Motor Corp will acquire Lyft Inc’s self-driving… Continue reading Lyft joins Uber in ditching plans to make its own self-driving car, selling its autonomous vehicle unit to Toyota for $550 million

Uber is sitting on $18 billion in global investments, with a stake in Grab’s record SPAC deal worth more than $5 billion alone (UBER)

Singapore’s ride-hailing firm Grab announced plans Tuesday to go public at a $40 billion valuation. Uber is one company poised to win big, with an investment that will be worth more than $5 billion. This is the latest pivot Uber has made in recent years as it’s pared back cash-burning endeavors. See more stories on… Continue reading Uber is sitting on $18 billion in global investments, with a stake in Grab’s record SPAC deal worth more than $5 billion alone (UBER)

Volvo Cars, Zoox, SAIC and More Join Growing Range of Autonomous Vehicle Makers Using New NVIDIA DRIVE Solutions

SANTA CLARA, Calif., April 12, 2021 (GLOBE NEWSWIRE) — GTC — Volvo, Zoox and SAIC are among the growing ranks of leading transportation companies using the newest NVIDIA DRIVE™ solutions to power their next-generation AI-based autonomous vehicles, NVIDIA announced today. NVIDIA’s design-win pipeline for NVIDIA DRIVE now totals more than $8 billion over the next six… Continue reading Volvo Cars, Zoox, SAIC and More Join Growing Range of Autonomous Vehicle Makers Using New NVIDIA DRIVE Solutions

China Tech Digest: Didi Chuxing Seeking Financing For Its Self-Driving Business; Cainiao Partners With Hong Kong Air Cargo Carrier

Didi Chuxing is seeking financing for its self-driving unit, which is valued at approximately US$6 billion Didi Chuxing is raising new funds for its self-driving unit. According to insider, Didi’s self-driving project raises up to $US500 million, while the company’s valuation is about US$6 billion. The new funds raised will help Didi accelerate the mass… Continue reading China Tech Digest: Didi Chuxing Seeking Financing For Its Self-Driving Business; Cainiao Partners With Hong Kong Air Cargo Carrier

Buffett-backed Chinese EV maker BYD profit up 162% in 2020

By Reuters Staff 1 Min Read Slideshow ( 2 images ) BEIJING (Reuters) – Chinese electric vehicle maker BYD Co Ltd,, which is backed by billionaire Warren Buffett, on Monday reported a 162% growth in 2020 net profit as it became a major mask maker amid the COVID-19 pandemic. BYD reported 4.23 billion yuan ($643.75… Continue reading Buffett-backed Chinese EV maker BYD profit up 162% in 2020

Toyota invests in Chinese self-driving partner Momenta

TIANJIN, China — Toyota Motor has invested in Chinese autonomous-driving startup Momenta as part of a $500 million fundraising round, expanding the Japanese automaker’s development infrastructure in China as tensions between Beijing and the U.S. simmer. Momenta’s systems use deep learning to analyze information from a vehicle’s cameras and sensors and construct a map of its… Continue reading Toyota invests in Chinese self-driving partner Momenta