Ford postpones autonomous vehicle service until 2022

Ford said Tuesday it will delay until 2022 plans to launch an autonomous vehicle service, as the COVID-19 pandemic has prompted the company to rethink its go-to-market strategy. The news was shared as part of Ford’s quarterly earnings, which was released after the market closed Tuesday. Ford reported a $2 billion loss in the first… Continue reading Ford postpones autonomous vehicle service until 2022

Lyft is laying off nearly 1,000 employees — 17% of its workforce — as the coronavirus sends the ride-hailing industry into a nosedive (LYFT)

Lyft said on Wednesday that it would cut nearly 1,000 jobs and had furloughed 288 workers. Both Lyft and its larger competitor Uber have seen ride-hailing volumes plummet during the coronavirus pandemic. Shares of Lyft were up more than 5% on Wednesday, outpacing broader market gains. Visit Business Insider’s homepage for more stories. Lyft said… Continue reading Lyft is laying off nearly 1,000 employees — 17% of its workforce — as the coronavirus sends the ride-hailing industry into a nosedive (LYFT)

UPDATE 1-Uber’s Middle East business Careem cuts 31% of workforce

DUBAI (Reuters) – Uber Technologies’ Careem subsidiary on Monday announced it was cutting 536 jobs this week, representing 31% of the Dubai-headquartered company’s workforce. FILE PHOTO: Careem CEO Mudassir Sheikha speaks to Reuters in an interview at the company headquarters in Dubai, UAE, December 13, 2018. REUTERS/Satish Kumar/File Photo The announcement came hours after Uber… Continue reading UPDATE 1-Uber’s Middle East business Careem cuts 31% of workforce

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

Cadillac Super Cruise gets new features that let it take over more of the driving

CLOSE Cadillac reinvents driving with system that steers car for long distances on highways Cadillac’s Super Cruise hands-free driving system will add several welcome functions this year, increasing conditions in which drivers can let their Caddies essentially drive themselves, like when passing and switching highways at interchanges. I’ve logged more than 3,000 miles with Super Cruise. It’s amazing,… Continue reading Cadillac Super Cruise gets new features that let it take over more of the driving

Karma Teases EREV E-Flex Van Platform

EXTENDED RANGE E-FLEX PLATFORM FOR UTILITY VAN APPLICATIONS SHOWCASED BY KARMA AUTOMOTIVE Platform supports multiple powertrain, packaging and vehicle configurations Extended range architecture offers enhanced performance, ultra-range flexibility Company’s offering allows proven technology to reach market faster and more efficiently for partner retail sale, fleets and other uses Irvine, Calif. (April 30, 2020) – Karma… Continue reading Karma Teases EREV E-Flex Van Platform

Alexandra Ford English, daughter of Bill Ford Jr., replaces Joe Hinrichs on Rivian board

CLOSE Alexandra Ford English, director of corporate strategy at Ford Motor Company, has taken a seat on the board of directors for Rivian, the high-profile electric vehicle startup. Alexandra Ford English, daughter of Bill Ford Jr., has just been named to the Rivian board of directors, the companies announced jointly on May 1, 2020.  (Photo: Ford… Continue reading Alexandra Ford English, daughter of Bill Ford Jr., replaces Joe Hinrichs on Rivian board

Chinese EV startup accuses Tesla of ‘bullying’ over IP lawsuit

Chinese electric vehicle startup Xpeng Motors accused Tesla Inc. of being a bully, firing the latest legal salvo in the companies’ ongoing battle over alleged intellectual property theft. Tesla earlier this year asked a U.S. federal judge to grant it access to Xpeng’s company files — including those on the company chairman’s own computer — as… Continue reading Chinese EV startup accuses Tesla of ‘bullying’ over IP lawsuit

VW trucks boss sees autonomous investments under pressure -Spiegel

FILE PHOTO: A general view of the Volkswagen construction plant which reopened after closing down last month due to the coronavirus disease (COVID-19) outbreak in Bratislava, Slovakia April 28, 2020. REUTERS/Radovan Stoklasa/File Photo FRANKFURT (Reuters) – Autonomous vehicle technologies will be among the first to be starved of investment as the auto and truck industry… Continue reading VW trucks boss sees autonomous investments under pressure -Spiegel