Autotech Ventures, a Menlo Park, CA-based mobility focused venture capital firm, closed its $150M+ Fund II. LPs include both financial and corporate investors and other leaders from vehicle manufacturers, parts suppliers, repair shop chains, leasing corporations, dealership groups, and trucking firms. The fund will invest in early-stage startups with a focus on connectivity, autonomy, shared-use… Continue reading Autotech Ventures Closes Over $150M Fund
Tag: Mobility
Lyft: Lyft Announces First Quarter Results
First quarter revenue grew to $955.7 million, up 23% year-over-yearEnded quarter with $2.7 billion of unrestricted cash, cash equivalents and short-term investments SAN FRANCISCO, May 06, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its first quarter ended March 31, 2020. First Quarter 2020 Financial Highlights Lyft reported Q1 revenue of… Continue reading Lyft: Lyft Announces First Quarter Results
@GM: GM Reports Income of $0.3 B and EBIT-Adjusted of $1.2 B DETROIT — General Motors Co. (NYSE: GM) today reported solid first-quarter earnings. The co…
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Uber lays off hundreds in Egypt amid global cuts, staff says
CAIRO, May 6 (Reuters) – Uber Technologies Inc laid off hundreds of office-based staff in Egypt on Wednesday as the ride-hailing firm made wider cuts amid the fallout from the new coronavirus, one current and two former employees said. The former employees, both of whom lost their jobs on Wednesday, and one employee who retained… Continue reading Uber lays off hundreds in Egypt amid global cuts, staff says
Lyft sees rider demand rebound in late April, ‘on path to profitability’
(Reuters) – Lyft Inc (LYFT.O) on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy. FILE PHOTO: A Lyft driver wears a mask during the coronavirus outbreak, as he leaves passengers in the U.S. Capitol Hill neighborhood in Washington,… Continue reading Lyft sees rider demand rebound in late April, ‘on path to profitability’
Gatik adds autonomous box trucks to its ‘middle mile’ game plan
Gatik, the autonomous vehicle startup focused on the ‘middle mile’ of logistics, has added box trucks to its fleet as Walmart and other customers look for ways to boost efficiency and shore up the supply chain amid surging demand from consumers ordering goods online. Gatik came out of stealth nearly a year ago with a… Continue reading Gatik adds autonomous box trucks to its ‘middle mile’ game plan
NIO Inc. Provides April 2020 Delivery Update
Delivered 3,155 vehicles in April 2020 Delivered 6,993 vehicles in 2020 in total Cumulative deliveries of ES8 and ES6 reached 38,906 SHANGHAI, China, May 06, 2020 (GLOBE NEWSWIRE) — NIO Inc. (“NIO” or the “Company”) (NIO), a pioneer in China’s premium smart electric vehicle market, today provided its April 2020 delivery results. NIO delivered 3,155… Continue reading NIO Inc. Provides April 2020 Delivery Update
UPDATE 1-Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez (Reuters) – Uber Technologies Inc (UBER.N) will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will forgo his base salary for the remainder of the year, the company said on Wednesday, as the COVID-19 pandemic… Continue reading UPDATE 1-Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
Uber to cut 3,700 full-time jobs; CEO to waive base salary
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez (Reuters) – Uber Technologies Inc (UBER.N) said on Wednesday it will cut about 3,700 full-time jobs and Chief Executive Officer Dara Khosrowshahi will waive his base salary for the remainder of the year. The ride-hailing company expects to… Continue reading Uber to cut 3,700 full-time jobs; CEO to waive base salary
@BMW: Statement Dr Nicolas Peter, Member of the Board of Management of BMW AG, Finance, Conference Call Interim Report to 31 March 2020
Ladies and Gentlemen, Good morning! The spread of the coronavirus and the measures to contain it strongly affected the BMW Group’s business development in the first quarter of 2020. Sales decreased significantly, especially in China. This impacted our earnings position in the first three months of the year. Local production facilities and retail outlets there… Continue reading @BMW: Statement Dr Nicolas Peter, Member of the Board of Management of BMW AG, Finance, Conference Call Interim Report to 31 March 2020