Uber is reportedly considering leading a $170 million emergency fundraising round for the scooter startup Lime, according to the Information. The terms of the deal will hit the scooter startup hard. The round will reportedly slash Lime’s valuation to $510 million, a 79% slide from the startup’s whopping valuation of $2.4 billion in 2018. As… Continue reading Uber is reportedly considering another investment in Lime, in a round that would sink the embattled scooter startup’s valuation by nearly 80% — and give Uber the option to buy it in 2 years
Tag: Mobility
CORRECTED-UPDATE 2-Intel buys Moovit transit app for $900 mln to help develop robotaxis
JERUSALEM/NEW YORK (Reuters) – Chipmaker Intel Corp (INTC.O) has bought Israeli public transit app maker Moovit for about $900 million to help it develop self-driving “robotaxis” that could take to the streets in early 2022, the company said on Monday. FILE PHOTO: U.S. chipmaker Intel Corp’s logo is seen on their “smart building” in Petah… Continue reading CORRECTED-UPDATE 2-Intel buys Moovit transit app for $900 mln to help develop robotaxis
The Station: Audi punts on Level 3, Lyft layoffs and Nio’s $1 billion deal
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hi readers. Welcome back to The Station, a weekly newsletter dedicated to the future (and present) of transportation. I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch.… Continue reading The Station: Audi punts on Level 3, Lyft layoffs and Nio’s $1 billion deal
Uber subsidiary Careem to slash workforce by 31%, suspends bus transport app
Careem, the Dubai-based ride-hailing and delivery company that was acquired by Uber last year, is cutting its workforce by 31% and suspending its mass transportation business due to affects from the COVID-19 pandemic. The layoffs will affect more than 530 employees. Employees who are laid off will receive at least three months’ severance pay, one… Continue reading Uber subsidiary Careem to slash workforce by 31%, suspends bus transport app
Audi gives up plan for hands-off autonomy for next A8
Despite all the hype about high levels of vehicle autonomy, drivers always need to keep their hands on the wheel. Audi had planned to be the first automaker to introduce so-called Level 3 autonomy, where you could take your eyes off the road and let the car drive. But the combination of legislative uncertainty and… Continue reading Audi gives up plan for hands-off autonomy for next A8
@Toyota: Toyota keeps the capital’s key workers moving through car sharing service, hiyacar
All Toyota GB vehicles listed on London-based car sharing service, hiyacar, made available to key workers with rental fee waived 571 days’ worth of Toyota car loans taken up by key workers to date Cars being positioned at hospitals for ease of access Doctors, nurses and police officers are top users of service Toyota GB… Continue reading @Toyota: Toyota keeps the capital’s key workers moving through car sharing service, hiyacar
Europcar Secures New Funding
The Group remains in negotiation with other corporate countries on potential State Guarantee loans to reinforce its liquidity within the global financing framework. Photo via Depositphotos. As part of the continuation of its cost-saving and cash preservation Europcar Mobility Group today announced the completion of a financing scheme, which aims to secure liquidity to face the COVID-19 crisis and meet anticipated… Continue reading Europcar Secures New Funding
Intel: Intel Acquires Moovit to Accelerate Mobileye’s Mobility-as-a-Service Offering
SANTA CLARA, Calif., May 4, 2020 – Intel Corporation today announced it has acquired Moovit, a mobility-as-a-service (MaaS) solutions company, for approximately $900 million ($840 million net of Intel Capital equity gain). Moovit is known for its urban mobility application that offers travelers around the world the best multimodal trip planning by combining public transportation,… Continue reading Intel: Intel Acquires Moovit to Accelerate Mobileye’s Mobility-as-a-Service Offering
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)