Uber’s incoming chief financial officer CFO Nelson Chai has suggested the transportation firm may not go public in 2019 after all. On Tuesday, Uber announced that it had appointed Chai, a Wall Street veteran, to the long-vacant post of CFO as it gears up for a long-awaited IPO in 2019, a stated goal of the… Continue reading Uber’s new CFO suggested that an IPO might not happen in 2019 after all
Tag: Mobility
Coup of cold stock on the automobile
Black day for Continental. The German equipment maker fell Wednesday about 14% on the Frankfurt Stock Exchange, its largest decline since 2009, causing in its fall the European automotive values. At the Paris Bourse, Michelin, Valeo, Faurecia or Peugeot also gave ground – but to a lesser extent -, just like Pirellli in Milan or… Continue reading Coup of cold stock on the automobile
Driving the Future – Toyota Team Members Get Connected
•Toyota strengthens Dedicated Short Range Communication (DSRC) 5.9GHz Vehicle to Everything (V2X) technology commitment via University of Michigan Transportation Research Institute partnership. •Further establishes the Ann Arbor Connected Vehicle Test Environment as the world’s largest operational real-world deployment of connected vehicles and infrastructure. August 22, 2018 ANN ARBOR, Mich. (August 22, 2018) The University of… Continue reading Driving the Future – Toyota Team Members Get Connected
Uber finally hires a CFO as it heads for an IPO
Uber’s search for a chief financial officer — and the person who will steer the company toward an IPO — is over. The ride-hailing company said Tuesday its new CFO is Nelson J. Chai, the former CEO of insurance and warranty provider Warranty Group. Chai has the kind of experience Uber will need to navigate a successful… Continue reading Uber finally hires a CFO as it heads for an IPO
Interview: “It’s not too late yet” – VW boss Diess warns of dependency in the battery cell technology
WolfsburgVolkswagen-Boss Herbert Diess In particular, the auto industry in general and its own company are harshly challenged and face tremendous challenges. It must now necessarily the entry into the electric age success. As a heavy mortgage, he feels the “great dependence” in battery cell technology from Asian suppliers. This said in the Handelsblatt interview: “Let’s… Continue reading Interview: “It’s not too late yet” – VW boss Diess warns of dependency in the battery cell technology
Getaround car-share service raises $300 million in new funding round
Source: Jill Silvestri
Getaround, the car-share company that lets drivers rent their vehicles to strangers, is gearing up for more growth fueled by a new round of funding.
The San Francisco company has raised $300 million in Series D funding led by the SoftBank Vision Fund. Toyota and company insiders also provided money in the latest financing round. Getaround has raised $400 million in total capital so far.
“We are confident in our product, playbook, and team,” Sam Zaid, Getaround founder and CEO said in a statement. “We look forward to leading the growth of next-generation carsharing.”
Since starting in 2010, Getaround has steadily grown its car-share network to include several thousand vehicles in 66 U.S. cities. In the last year, Getaround has seen a sevenfold Increase in booked hours.
For SoftBank, the investment comes just months after the Japanese company agreed to buy a 20 percent stake in GM's autonomous vehicle subsidiary Cruise Holdings for $2.25 billion. SoftBank also has invested $9.3 billion in Uber, becoming the ride-hailing company's largest investor.
“SoftBank sees carsharing as an accelerating trend that will disrupt car ownership”, said Michael Ronen, managing partner of SoftBank Investment Advisers.
Car-sharing, which allows members to rent a vehicle for a few hours or several days, has been around for more than 15 years. Zipcar may be the best-known car-share company with more than 12,000 vehicles available for rent. In recent years the industry has picked up momentum with Daimler subsidiary Car2Go and GM subsidiary Maven both steadily growing their networks.
Questions? Comments? BehindTheWheel@cnbc.com.
Carsharing Leader Getaround Raises $300M in Series D
Getaround, a San Francisco, CA-based carsharing platform that allows users to rent and drive cars shared by people in their city, raised $300m in Series D financing. The round was led by SoftBank, with participation from Toyota Motor Corporation, and inside investors. The company intends to use the funds to continue growing and expanding into… Continue reading Carsharing Leader Getaround Raises $300M in Series D
Internal documents reveal the grueling way Tesla hit its 5,000 Model 3 target (TSLA)
Internal documents show that Tesla had to rework more than 4,300 of the 5,000 Model 3 vehicles it built during the last week of June when it hit its critical production target. Within the auto industry, cars that make it through a manufacturing process without requiring rework are part of a factory or line’s “first… Continue reading Internal documents reveal the grueling way Tesla hit its 5,000 Model 3 target (TSLA)
Lyft and Aptiv have completed 5000 paid trips in their self-driving taxis
Lyft and self-driving technology company Aptiv have been operating a small fleet of self-driving cars in Las Vegas since the Consumer Electronics Show last January. And today, the companies say they’ve reached a new milestone in their partnership: 5,000 paid rides. Lyft and Aptiv claim to be operating the only commercial robot taxi service in… Continue reading Lyft and Aptiv have completed 5000 paid trips in their self-driving taxis
Car-sharing startup Getaround raises $300 mln in funding led by SoftBank
(Reuters) – Car-sharing startup Getaround Inc has raised about $300 million in the latest funding round led by Japan’s SoftBank Group Corp, the San Francisco-based firm said on Tuesday. Toyota Motor Corp and some other existing investors were also part of the Series D funding round, Getaround said. The company, founded in 2013, has been… Continue reading Car-sharing startup Getaround raises $300 mln in funding led by SoftBank