Autos


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The Station: Lucid Motors, Joby Aviation take the SPAC path and Sergey Brin’s airship ambitions

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.  Hi friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. In last week’s newsletter, I described some of the changes coming to TechCrunch’s transportation coverage, including “market maps.” These articles, which run will always run in...
Tags: Amazon, Transportation, New York, London, Pinterest, Montana, Saudi Arabia, Germany, India, Linkedin, Tech, Walmart, Bloomberg, Automotive, Vw, Ford


Lucid Motors strikes SPAC deal to go public with $24 billion valuation

Lucid Motors reached an agreement to become a publicly traded company through a merger with special-purpose acquisition company Churchill Capital IV Corp, in the largest deal yet between a blank-check company and electric vehicle startup.  The combined company, in which Saudi Arabia’s sovereign fund will continue to be the largest shareholder, will have a transaction equity value of $11.75 billion. Private investment in the public equity deal is priced at $15 a share, putting the implied the p...
Tags: Transportation, Europe, Saudi Arabia, China, Tech, Tesla, Bloomberg, Automotive, Air, North America, Churchill, Cto, Lucid, SPAC, Audi BMW, Atieva


The Station: The lidar SPAC craze and 10 investors give their mobility predictions

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.  Hi friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. Before you get to reading The Station, a small update for you. As transportation editor — a new title I gained last month — I am focused on building a team and deepening our co...
Tags: Google, Transportation, Facebook, New York, Dick Costolo, California, New York City, Los Angeles, Tech, Bloomberg, Automotive, Porsche, Gm, Starwood, Silicon Valley, Bmw


Here are some of the car models most likely to be in shorter supply due to the global chip shortage

New Chevys for sale fill the lot at Raymond Chevrolet in Antioch, Illinois, July 17, 2014. John Gress/Corbis/Getty Images Car dealerships are already reflecting the slowdown in manufacturing due to the global chip shortage. Shoppers may see higher prices and lower availability of certain car models. Car companies began halting production in January and expect to lose billions this year. Visit the Business section of Insider for more stories. A global shortage of computer chips has caused s...
Tags: Transportation, Japan, News, Mexico, Cars, Trends, General Motors, Bloomberg, Ford, Gm, Chrysler, Toyota, Bmw, Volkswagen, Dodge, Honda


Goldman Sachs is creating an auto-tech joint venture amid a SPAC boom for EV and lidar companies: Report

Lordstown Motors is one of the many EV companies that have gone public through SPACs over the past year. Lordstown Motors Goldman Sachs is creating a JV focused on automotive tech, Bloomberg reported. Auto-tech companies have been part of a number of acquisitions and public listings in recent years. They include Amazon's acquisition of Zoox and Nikola's SPAC merger. Visit the Business section of Insider for more stories. Goldman Sachs is forming an investment-banking joint venture that wil...
Tags: Amazon, Transportation, Finance, Cars, Trends, Tesla, Bloomberg, Goldman Sachs, Goldman, SPAC, Nikola, Friedland, Mark Matousek, Tesla Uber, Zoox, Rivian


Industry leaders urge Biden to take action as a critical shortage of computer chips could cost automakers billions

President Joe Biden delivers remarks in the State Dining Room at the White House on February 5, 2021. Stefani Reynolds-Pool/Getty Images A shortage of semiconductor chips could cost car companies as much as $61 billion this year.  Production has already been delayed at some Toyota, Nissan, Volkswagen and Ford plants. A group of executives at US chip companies urged Biden to prioritize funding for semiconductor manufacturing and research. Visit the Business section of Insider for more stori...
Tags: Apple, Transportation, Japan, News, Congress, Abc, Mexico, White House, Cars, US, Trends, Bloomberg, Joe Biden, Ford, Chrysler, Sia


Tesla CEO Accused of Kowtowing to China: A Tale of Two Musks?

Tesla CEO Elon Musk came under fire this week after Bloomberg wrote a piece accusing him of playing nice with totalitarian China following years of showing totalitarian California a complete lack of respect. With the semiconductor shortage leaving the industry in a holding pattern, tabloid journalism seems to be filling in the gaps to the dismay […] The post Tesla CEO Accused of Kowtowing to China: A Tale of Two Musks? appeared first on The Truth About Cars.
Tags: Elon Musk, California, Opinion, Government, China, Tesla, Bloomberg, Industry, United States, Electric Vehicles, Editorials, Autos, Automotive Industry, EVs, Tesla Motors, Industry News


Kia is reportedly seeking partners to build Apple's electric vehicles in Georgia

TIm Cook giving a speech from the Apple Park in California. Apple Kia is seeking partners to help build Apple vehicles in Georgia, The Wall Street Journal reported. Bloomberg reported that Apple and Hyundai, Kia's parent company, had "paused" talks. Apple hasn't publicly commented on the negotiations.  Visit the Business section of Insider for more stories. Kia is reportedly seeking a production partner to build Apple's electric vehicles in Georgia, according to The Wall Street Journal. Ap...
Tags: Apple, Cars, Trends, Tech, Georgia, Tesla, Bloomberg, Tim Cook, Transport, Hyundai, Kia, Wall Street Journal, Journal, Cnbc, Reuters, Hyundai Kia


Here's why there's a global computer chip shortage that is slamming automakers during the pandemic

Vauxhall car factory in April 2020. Colin McPherson/Corbis via Getty Images There's a computer chip shortage accelerated by pandemic-driven disruptions in the supply chain. Automakers rely on chips for tech in their cars, and the likes of Apple need them to power gadgets. With only so many chips to go around, industries are suffering as they struggle to meet demand. Visit the Business section of Insider for more stories. A group of lawmakers is asking the Biden administration to intervene ...
Tags: Apple, Transportation, News, Electronics, Cars, Trends, Bloomberg, Intel, Ford, Fiat, Biden, Chips, Semiconductor, Subaru, Vauxhall, Automakers


A critical shortage of computer chips could cost automakers billions this year - now a group of Senators wants the White House to step in

FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown Reuters A shortage of semiconductor chips could cost car companies as much as $61 billion this year.  Production has already been delayed at some Toyota, Nissan, Volkswagen, Ford, and Fiat Chrysler plants. A group of lawmakers has urged the Biden administration to step in and help.  Visit the Business section of Insider for more stories. Several senators have called for the White House to combat a global c...
Tags: Apple, Transportation, Europe, Japan, News, Abc, Mexico, White House, Cars, US, Trends, Bloomberg, Vw, Ford, Chrysler, Toyota


A global computer chip shortage could mean $61 billion in lost sales for automakers like Toyota and Nissan

FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown Reuters A global shortage of semiconductor chips could cause car companies to lose as much as $61 billion in revenue, Bloomberg reports. Production of several car models has already been delayed at some Toyota, Nissan, Volkswagen, Ford, and Fiat Chrysler plants. The supply chain disruption comes when the industry was just beginning to recover from COVID-19 lockdowns. Visit Business Insider's homepage for m...
Tags: Apple, Transportation, Europe, Japan, News, Abc, Mexico, Cars, US, Trends, Bloomberg, Vw, Ford, Chrysler, Toyota, Volkswagen


Extra Crunch roundup: 2 VC surveys, Tesla’s melt up, The Roblox Gambit, more

This has been quite a week. Instead of walking backward through the last few days of chaos and uncertainty, here are three good things that happened: Google employee Sara Robinson combined her interest in machine learning and baking to create AI-generated hybrid treats. A breakthrough could make water desalination 30%-40% more effective. Bianca Smith will become the first Black woman to coach a professional baseball team. Despite many distractions in our first full week of the new year, we pub...
Tags: Google, Security, Startups, TC, Gaming, Enterprise, Congress, Israel, Disney, US, Tech, Tesla, Bloomberg, Artificial Intelligence, Netflix, Automotive


Apple's 'Tesla killer' self-driving car is at least 5 years away, according to a new report

Tesla CEO Elon Musk, left, and Apple CEO Tim Cook, right. Brendan Smialowski/AFP, Richard Drew/Associated Press Apple is long-rumored to be years into development of its own self-driving cars. But, according to a new report from Bloomberg, it sounds like the project is still a half-decade from its big debut. The project is said to be "nowhere near production stage," with the earliest expectation of a consumer product being at least five years away. Visit Business Insider's homepage for mor...
Tags: Apple, Transportation, Elon Musk, Cars, Samsung, Trends, Tesla, Bloomberg, Tim Cook, Morgan Stanley, Hyundai, Self-driving Car, Reuters, Ev, BRENDAN SMIALOWSKI, Katy Huberty


Elon Musk has a new title: world’s richest person

Elon Musk, the controversial and enigmatic entrepreneur who heads up SpaceX and Tesla, has reached a status that only three others have held in the past two decades: world’s richest person. On his way to the top spot, Musk has surpassed a bevy of billionaires this year, including Warren Buffet and Bill Gates. He reached the pinnacle Thursday thanks to Tesla’s share price that has skyrocketed nearly 830% since March 2020 along with a substantive pay package that was triggered after achieving ...
Tags: Amazon, Transportation, Spacex, Elon Musk, Finance, Tech, Tesla, Bloomberg, Automotive, SEC, Jeff Bezos, Warren Buffet, Musk, Toyota Tesla, Ford GM VW Group


The Station: Zoox’s six-year ride, Aurora makes its Uber ATG employee picks and NHTSA takes a new position on AVs

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 friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. I asked you last week to share your picks for the biggest stories of the year. While there was a mix, two startup-focused themes emerged: COVID-19 and the pressure it put on ...
Tags: Google, Amazon, Transportation, Uber, Toronto, Tech, General Motors, Tesla, Bloomberg, Austin, Automotive, United States, Electric Vehicles, Autonomous Vehicles, Zomato, EC


Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph

Six years ago, Zoox launched quietly with a mighty mission: build and commercialize just about every aspect of a robotaxi service from the self-driving software stack and on-demand ride-sharing app to the management of the fleet and an unconventional vehicle that would transport passengers. Now, it’s finally lifting the veil on its multi-year effort. Zoox, which was acquired earlier this year by Amazon, unveiled the electric, autonomous robotaxi it built from the ground-up — a cube-like vehicle ...
Tags: Amazon, Transportation, Tech, Bloomberg, Automotive, Evans, Levinson, Aicha Evans, Zoox, Las Vegas San Francisco, Nuro, Jesse Levinson


Softbank, Volvo back Flock Freight with $113.5M to help shippers share the load

Everyday thousands of trucks carry freight along U.S. highways, propelling the economy forward as consumer goods, electronics, cars and agriculture make their way to distribution centers, stores and eventually households. It’s inside these trucks — many of which sit half empty — where Flock Freight, a five-year-old startup out of San Diego believes it can transform the industry. Now, it has the funds to try and do it. Flock Freight said Tuesday it has raised $113.5 million in a Series C round le...
Tags: TC, Transportation, Softbank, Tech, Bloomberg, Automotive, San Diego, Google Ventures, Volvo, SoftBank Vision Fund, SoftBank Investment Advisers, Oren Zaslansky, Softbank Volvo, Flock Freight, SignalFire GLP Capital Partners, Volvo Group Venture Capital Ervin Tu


Tesla is now worth half a trillion dollars

Surging Tesla shares have pushed the company’s market capitalization to more than $515 billion, a fivefold increase since the start of the year. The traditionally volatile stock has continued to experience price swings. But since reaching a low for the year in March, Tesla’s share price has been on an upwards trajectory that accelerated in August. Tesla’s share price, which rose 4.6% in morning trading to $545.62, has helped blast its CEO Elon Musk into the upper stratosphere of Bloomberg’s B...
Tags: Amazon, Elon Musk, Microsoft, Tech, Tesla, Bloomberg, Automotive, Jeff Bezos, Ford Motor Co, Apple Berkshire Hathaway, Surging Tesla


The best way to road trip across America and stay safe during the COVID-19 pandemic

EpicStockMedia/Shutterstock With travelers hesitant to fly for a vacation, the resurgence of the all-American road trip could be at hand.It's important to stay safe and smart, even during a road trip in your own car.Be mindful about packing sanitizing wipes and spray, liberally wash hands, and use hand sanitizer.Visit Business Insider's homepage for more stories.For many, flying to a destination vacation anytime in the next few months is likely off the table thanks to the ongoing COVID-19 ...
Tags: Transportation, Cdc, Cars, US, Summer, America, Trends, Bloomberg, Autos, Driving, Lincoln, Pbs, AAA, Centers For Disease Control And Prevention, Stanford University, Road Trip


How four European cities are embracing micromobility to drive out cars

The coronavirus pandemic is acting as a catalyst for urban transformation across Europe as city authorities grapple with how to manage urban mobility without risking citizens’ health or inviting gridlock by letting cars flood in. Micromobility and local commerce are being seen as both short and long-term solutions for urban revival in a number of cases. We’ve run down key policy developments in four major cities, Paris, Barcelona, London and Milan, which — at varying speeds — are pushing to reth...
Tags: Europe, UK, New York, Milan, London, France, Government, San Francisco, Tech, Spain, Bloomberg, Barcelona, Policy, Automotive, Paris, Italy


Tesla is recalling 30,000 Model S and X cars in China over suspension problems

Johannes Eisele/AFP via Getty Images Tesla is recalling around 30,000 Model S and X vehicles in China, the country's State Administration for Market Regulation said Friday. Tesla issued the recall because of two different suspension defects, but some vehicles may have both, regulators said. The recall impacts the bulk of imported Model S and Model X cars made between September 2013 and January 2018. Visit Business Insider's homepage for more stories. Tesla is recalling around 30,000 vehic...
Tags: Transportation, Elon Musk, China, Cars, Trends, Tesla, Bloomberg, Electric Vehicles, Shanghai, Transport, Electric, Model S, Model X, Jpmorgan, Tesla China, State Administration


Federal inquiries, allegations of sexual assault, a resignation, and billions on the line: Here's everything you need to know about Nikola and its founder's controversial last 5 weeks

On the left, GM's CEO and chairman, Mary Barra. On the right, Nikola's founder and former CEO Trevor Milton. AP Photo/Paul Sancya; REUTERS/Massimo Pinca Automotive giant General Motors and electric vehicle startup Nikola announced a $2 billion deal in early September. In the weeks since, Nikola and its founder, Trevor Milton, have been embroiled in controversy. Since then, Milton has stepped down as the executive Chairman of Nikola's board, and has faced additional accusations incl...
Tags: Transportation, Europe, Cars, America, Trends, General Motors, Bloomberg, Mary Barra, Gm, SEC, Department Of Justice, Smith, Doj, Financial Times, Cnbc, Business Insider


Tesla, Ford, and Mercedes-Benz are suing the Trump administration over tariffs on Chinese car parts

FILE PHOTO: Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai Reuters Tesla is suing the Trump administration over tariffs the government has imposed on Chinese vehicle parts. The electric car manufacturer described the tariffs as "arbitrary, capricious, and an abuse of discretion” in a filing on Wednesday. It is asking for a refund of the money it has paid, plus interest. Numerous other carmakers, including Mercedes-Benz, Ford, and Volvo, have f...
Tags: Transportation, New York, China, US, Trends, Tesla, Bloomberg, Car, United States, Shanghai, Exports, Trade, WTO, Electric, Volvo, Electric Car


Tesla sues Trump administration to end tariffs on the ‘brain’ of its vehicles

Tesla is suing the Trump administration over tariffs on a computer chip and other parts it imports from China, joining an increasingly long list of similar lawsuits filed by hundreds of companies, including automakers Ford, Mercedes-Benz and Volvo. Tesla, which names U.S. Trade Representative Robert Lighthizer in the lawsuit filed in the U.S. Court of International Trade, wants the court to declare the tariffs unlawful. Bloomberg was the first to report the lawsuit. Tesla is also seeking a re...
Tags: TC, China, Tech, Tesla, Bloomberg, Automotive, United States, Autopilot, Trump, Shanghai China, Ford Mercedes Benz, FSD, MCU, U S Trade, Volvo Tesla, USTR


The father-son billionaires behind online used-car seller Carvana saw their fortunes soar $5 billion in a day as the company projects record profits

Ernest Garcia III is the CEO of Carvana. Brendan McDermid/Reuters Ernie Garcia II and Ernest Garcia III, the father-son team behind online used-vehicle sales platform Carvana, saw $5 billion added to their net worths on Tuesday as the company posted record profits. The coronavirus pandemic put used cars in high demand as Americans seek to avoid public transit, Piper Sandler analyst Alexander Potter wrote Tuesday, per Bloomberg. The trend helped Carvana shares rise nearly 140% from the star...
Tags: Transportation, Life, Cars, US, Trends, Bloomberg, Billionaires, Used Cars, Billionaire, Garcia, Garcias, Arts & Culture, Carvana, Alexander Potter, Ernie Garcia, Piper Sandler


VW’s Traton Group strikes a deal with TuSimple to develop autonomous trucks

The Traton Group, Volkswagen AG’s heavy-truck business, has taken a minority stake in TuSimple as part of an agreement between the two companies to develop self-driving trucks. Neither company disclosed the financial terms of the partnership or the percentage of the minority stake. Traton did make a direct capital investment into TuSimple, according to one unnamed source familiar with the deal. It’s unclear if it also included in-kind contributions. Traton’s investment is not part of TuSimple...
Tags: Startups, TC, Transportation, Europe, Texas, Sweden, China, Bloomberg, Automotive, Vw, Arizona, Autonomous Vehicles, Volkswagen, Tucson Arizona, Sweden Germany, Scania


China’s electric carmaker WM Motor pulls in $1.47 billion Series D

Chinese electric vehicle startup WM Motor just pocketed an outsize investment to fuel growth in a competitive landscape increasingly coveted by foreign rival Tesla. The five-year-old company raised 10 billion yuan ($1.47 billion) in a Series D round, it announced on Tuesday, which will pay for research and development, branding, marketing and expansion of sales channel. WM Motor, backed by Baidu and Tencent, is one of the highest funded EV startups in China alongside NIO, Xpeng and Li Auto, a...
Tags: Fundings & Exits, Electric Vehicle, Asia, New York, China, Funding, Tech, Tesla, Bloomberg, Automotive, Shanghai, Tencent, Nvidia, Baidu, Gigafactory, Ev


Tesla could post a record quarter if staff 'rally hard,' Elon Musk said in a leaked internal email

Tesla's CEO Elon Musk. Mike Blake/Reuters Tesla has “a shot at a record quarter for vehicle deliveries,” Elon Musk told staff in a leaked email on Sunday, seen by Bloomberg. The email, titled “All hands on deck!,” urged employees to sell as many vehicles as possible by the end of the electric vehicle company’s third quarter. Tesla’s current deliveries record is 112,000 vehicles in the fourth quarter of 2019. The pandemic pushed down sales, and therefore deliveries to customers, in the ...
Tags: Transportation, Elon Musk, Cars, Trends, Tesla, Bloomberg, Vehicles, Electric Vehicles, Transport, Electric Cars, Transporation, Musk, Tech Insider, Grace Dean, Elon Musk Mike Blake Reuters Tesla


SEC to investigate short-seller’s claims against Nikola, report says

The U.S. Securities and Exchange Commission is reportedly looking into claims that Nikola Corp. is involved in an alleged “intricate fraud,” the latest development in a controversy that erupted last week just days after GM took an 11% stake in the newly public company. Bloomberg reported Monday that the U.S. agency was examining the company to assess the merits of accusations made by short-seller Hindenburg Research. The Bloomberg report, which was based on unnamed sources, sent Nikola shares...
Tags: Transportation, Tech, Bloomberg, Automotive, Electric Vehicles, Gm, SEC, General Motors Co, U.S. Securities and Exchange Commission, Nikola, Hindenburg, Nikola Motor, Nikola Corp, Hindenburg Research, Hindenburg Research The Bloomberg


Nikola disputes fraud claims in carefully worded rebuttal

Nikola Corp., the hydrogen electric vehicle startup that went public this year through a merger with a special purpose acquisition company, released Monday a point-by-point rebuttal that attempts to disprove a report issued last week by short-seller Hindenburg Research that accused the company of fraud. In spite of the careful wording of the rebuttal, some of the company’s counterpoints raise more questions and even reveal problematic promotional tactics. Nikola’s lengthier denial follows a seri...
Tags: Transportation, Tech, Bloomberg, Automotive, Electric Vehicles, Gm, SEC, Milton, General Motors Co, Kirkland Ellis LLP, Nikola, Hindenburg, Trevor Milton, Nikola Motor, Nikola One, Nikola Corp



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