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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


Volkswagen unveils 'Mission T' to catch up to Tesla — and has tapped a Porsche race-car engineer to help make it happen

FILE PHOTO: Volkswagen Group CEO Herbert Diess attends a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai Reuters Volkswagen's CEO is facing a vote of confidence from the automaker's board this week.  Herbert Diess has reportedly ruffled feathers internally as he pushed for corporate change and more investment in electric vehicles.  In a new blog post, he outlined how Volkswagen formed 'Mission T' to take on Tesla and electrify all its brands. Visit B...
Tags: Apple, Transportation, News, Trends, Tesla, Bloomberg, Vw, Porsche, Electric Vehicles, Shanghai, Volkswagen, Audi, Le Mans, Reuters, Volkswagen Group, Herbert Diess


The Station: COVID’s effect on car ownership

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. Hello and 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. For all my American readers, I hope you’re happy and satiated from the Thanksgiving holiday in this oddest of years. My hope for all Station readers, no matter where you reside, is a safe and hea...
Tags: MetroMile, Transportation, Elon Musk, California, China, Germany, India, Softbank, Toronto, San Francisco, Tech, Tesla, Canada, Automotive, Ford, Italy


Alibaba vies for a piece of China’s booming EV market

There’s no lack of news these days on China’s tech giants teaming up with traditional carmakers. Companies from Alibaba to Huawei are striving to become relevant in the trillion-dollar auto industry, which itself is seeking an electric transition and intelligent upgrade as 5G comes of age. State-owned automaker SAIC Motor, a major player in China, unveiled this week a new electric vehicle arm called Zhiji, in which Alibaba and a Shanghai government-backed entity are minority shareholders. The ti...
Tags: TC, Transportation, Electric Vehicle, Asia, China, Tech, Tesla, Shanghai, Alibaba, Tencent, Bmw, Baidu, Audi, Huawei, Smart Cars, State


Remote-controlled delivery carts are now working for the local Los Angeles grocer

Robots are no longer the high-tech tools reserved for university labs, e-commerce giants and buzzy Silicon Valley startups. The local grocer now has access too. Tortoise, the one-year-old Silicon Valley startup known for its remote repositioning electric scooters, has taken its tech and adapted it to delivery carts. The company recently partnered with online grocery platform Self Point to provide neighborhood stores and specialty brand shops with electric carts that — with help from remote ...
Tags: Startups, TC, Transportation, Los Angeles, Tech, Georgia, Silicon Valley, Food Delivery, Tortoise, Grocery Delivery, Micromobility, Escooters, Kiwibot, Dmitry Shevelenko, Shevelenko, COVID


Elon Musk is now the world's second-richest person. Here's how the billionaire Tesla and SpaceX CEO went from getting bullied as a child to becoming one of the most successful and controversial men in tech.

Elon Musk. Steve Nesius/Reuters Elon Musk has had a tumultuous yet successful life.  He was bullied as a child but ultimately attended an Ivy League university before going on to become the CEO of two companies, Tesla and SpaceX, and the founder of three more. He's also been married three times and has triplets and twins. He recently had another baby with his girlfriend, the musician Grimes.  But Musk also courts controversy, especially on Twitter. The tech billionaire has been outspoken a...
Tags: Transportation, Mark Zuckerberg, Spacex, Elon Musk, New York, Hollywood, Robert Downey Jr, Microsoft, Australia, California, Ebay, White House, Ipo, Time, US, Los Angeles


Google-backed Chinese truck-hailing firm Manbang raises $1.7 billion

The Chinese Uber for trucks Manbang announced Tuesday that it has raised $1.7 billion in its latest funding round, two years after it hauled in $1.9 billion from investors including SoftBank Group and Alphabet Inc’s venture capital fund CapitalG. The news came fresh off a Wall Street Journal report two weeks ago that Manbang was seeking $1 billion ahead of an initial public offering next year. The company declined to comment on the matter, though its CEO Zhang Hui said in May 2019 that the firm ...
Tags: Google, TC, Transportation, Asia, China, Softbank, Funding, Tech, Alibaba, Fidelity, Wall Street Journal, Permira, Zhang, Alphabet Inc, Didi, SoftBank Group


Uber refused permission to dismiss 11 staff at its EMEA HQ

Uber has been refused permission to dismiss 11 people at its EMEA headquarters in Amsterdam by the Dutch Employee Insurance Agency (UWV), the ride hailing company has confirmed. The affected individuals did not take up an earlier severance offer as part of wider Uber layoffs earlier this year. Uber announced major global layoffs of around 15% of its workforce in May — which included around 200 staff based in Amsterdam — blaming the cuts on changes to demand caused by the coronavirus pandemic....
Tags: Transportation, Uber, Europe, Layoffs, Tech, Amsterdam, NRC, Ride Hailing, EMEA, Coronavirus, Dutch Employee Insurance Agency, EMEA Headquarters


The Station: Lime scoots towards profitability, a framework for AVs, and another electric vehicle SPAC

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 folks, 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. Let’s get right to it. Companies tried to pack in the news before the Thanksgiving holiday, which means we have a lot to um, digest. Email me anytime at [email protected] to share...
Tags: Transportation, Uber, Europe, UK, Milan, Colorado, Indonesia, Washington, Israel, San Francisco, Tech, General Motors, Atlanta, Barcelona, Indiana, Intel


All of Tesla's other services will be worth more than its car business, according to one Wall Street analyst who says the company should be compared to Apple, Tinder, and more.

Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Win McNamee/Getty Images Tesla's services business could be worth more than all of its car sales by the end of the next decade, Morgan Stanley said.  The bank estimates autopilot, insurance, energy, and everything else to be worth about 53% of a new street-high target price of $540 by 2030.  Investors should also consider comparing the company to other ser...
Tags: Apple, Transportation, Spacex, Elon Musk, News, Tinder, California, Washington, Trends, Markets, Tesla, Roku, Morgan Stanley, Detroit, Jonas, Musk


Mobileye taps Luminar to supply lidar for its robotaxi fleet

Luminar, the buzzy sensor startup that is on the verge of becoming a publicly traded company, locked in a supplier deal to furnish Intel subsidiary Mobileye with lidar for its fleet of autonomous vehicles. The deal, announced Friday, will see a rising star paired with a company that has long dominated the automotive industry. While the supplier agreement is nowhere near the scale of Mobileye’s core computer vision business, it is an important collaboration that extends beyond a few pilot prog...
Tags: Transportation, Tech, Intel, Automotive, Volvo, Daimler, Russell, Mobileye, LUMINAR, Austin Russell, Dubai Tel Aviv Paris China, Daegu City South Korea Mobileye, Mobileye CEO Ammon Shashua


Loadsmart raises $90 million to further consolidate its one-stop freight and logistics platform

Leading on-demand digital freight platform Loadsmart has raised a $90 million Series C funding round, led by funds under management by BlackRock, and co-led by Chromo Invest. The funding will be used to continue to build out its platform to offer even more end-to-end logistics services to its freight customers, and the company says that it will be doing that in part through new collaboration with strategic investor TFI International, a leader in the logistics space, which also participated in...
Tags: Startups, TC, Transportation, Tech, Transport, Logistics, Leader, Maersk, Blackrock, Convoy, Uber Freight, Recent Funding, Loadsmart


Robotaxi companies get the green light to charge for rides in California

Companies that launch robotaxi services in California will be able to charge for and offer shared driverless rides as long as they can navigate a new government approval process that some in the industry argues adds unnecessary bureaucracy that could delay deployments by more than two years. The California Public Utilities Commission approved Thursday two new programs to allow permitted companies to provide and charge for shared rides in autonomous vehicles. The nascent automated vehicle technol...
Tags: TC, Transportation, California, San Francisco, Tech, Cruise, Automotive, Commission, DMV, Cpuc, California Public Utilities Commission, Waymo, Waymo Driver, Annabel Chang, California Department of Motor Vehicles AV


Lime plans for ‘modes’ beyond bikes and scooters in 2021

Lime is launching its fourth generation scooter in Paris this week, an example the company says of its financial turnaround and commitment to growth. But that product rollout isn’t over. Lime CEO Wayne Ting hinted Thursday during the WSJ Future of Everything event that a “third mode,” beyond bikes and scooters, are also in the works for the first quarter of 2021 as well as the addition of third-party companies to its platform. Earlier this year, Lime started to include Wheels -branded electri...
Tags: Transportation, Europe, Tech, Paris, Lime, EBIT, Ting, Lime Lime, Wayne Ting, Ting Lime


Lime touts a 2020 turnaround and 2021 profitability

Micromobility company Lime says it has moved beyond the financial hardship caused by the COVID-19 pandemic, reaching a milestone that seemed unthinkable earlier this year. In short, the company is now largely profitable. Lime said it was both operating cash flow positive and free cash flow positive in the third quarter — a first — and is on pace to be full-year profitable, excluding certain costs (EBIT), in 2021. During the WSJ Future of Everything event Thursday, Lime CEO Wayne Ting painte...
Tags: Fundings & Exits, Startups, Transportation, Mobile, Uber, Tech, Paris, Bird, Lime, GAAP, EBIT, Wayne Ting, COVID Ting


Arrival becomes latest electric vehicle startup to test the public markets with a SPAC

Arrival has gone from stealthy electric vehicle startup to prospective public company in a span of a year. The UK-based company, which operated in relative secrecy for several years until January when it announced a $110 million investment from Hyundai and Kia, said Wednesday it has agreed to merge with special purpose acquisition company CIIG Merger Corp. Arrival was already considered one of the UK’s most valuable startups before Wednesday’s SPAC merger announcement.  This deal, which when ...
Tags: TC, Transportation, UK, US, Tech, Automotive, Nasdaq, Hyundai, Kia, Faraday Future, Fisker, SPAC, Rock Hill South Carolina, Chargepoint, LUMINAR, Abelson


Turo puts $1 million toward helping Black people make money sharing cars

Car sharing marketplace Turo has teamed up with Kiva to offer interest-free loans to Black people and folks from traditionally underserved communities to buy cars and then share them on Turo. The $1 million commitment aims to address the issue of wealth inequality in the United States. Called the Turo Seed Initiative, those who are eligible can raise up to $7,500 via crowdfunding small loans platform. In order to raise money on Kiva, folks must use the funding for business purposes, which inc...
Tags: TC, Transportation, Tech, Diversity, United States, Houston, Getaround, Kiva, Zipcar, Doordash, Haddad, Turo, Andre Haddad, Turo Turo, San Francisco Atlanta Boston


Tesla gets a spot on the S&P 500

Tesla will be added to the S&P 500, a milestone that will expand its investor base and put the electric automaker in the same company as heavyweights like Apple, Berkshire Hathaway and Microsoft. The announcement, made Monday afternoon by the S&P Dow Jones Indices, sent shares 13.7% higher in after-market trading. Tesla will officially join the benchmark index prior to trading December 21, the S&P Dow Jones Indices said in a statement. When Tesla joins the S&P 500, it will be among the most v...
Tags: Transportation, Elon Musk, Microsoft, Tech, Tesla, Automotive, Dow Jones Indices, S P Dow Jones Indices, Apple Berkshire Hathaway


Ride Vision raises $7M for its AI-based motorcycle safety system

Ride Vision, an Israeli startup that is building an AI-driven safety system to prevent motorcycle collisions, today announced that it has raised a $7 million Series A round led by crowdsourcing platform OurCrowd. YL Ventures, which typically specializes in cybersecurity startups but also led the company’s $2.5 million seed round in 2018, Mobilion VC and motorcycle mirror manufacturer Metagal also participated in this round. The company has now raised a total of $10 million. In addition to this n...
Tags: Startups, TC, Transportation, Europe, Japan, Greece, Australia, France, China, Germany, India, Israel, Tech, Spain, Artificial Intelligence, Austria


5 key innovations taking e-scooters to a half-billion rides in 2021

Travis VanderZanden Contributor Share on Twitter Travis VanderZanden is the founder and CEO of Bird. Four years ago, shared e-scooters didn’t exist. Today, they’re on track to surpass half a billion rides globally by 2021, far outpacing early growth in the carbon-heavy ride-hailing industry founded by Uber in 2009. That’s a dramatic shift in urban transportation by any measure, and it prompts a simple but important question: H...
Tags: Startups, Transportation, Travis Vanderzanden, Column, UK, New York, London, Microsoft, New York City, San Francisco, Tech, Atlanta, Ukraine, Atlantic, United States, Sharing Economy


Uber is reportedly in talks to sell its self-driving vehicle division to a startup run by former Uber, Tesla, and Google executives and backed by Amazon

Uber Uber is in talks to sell its self-driving vehicle division, ATG, to autonomous vehicle startup Aurora, TechCrunch reported Friday. ATG has been hobbled by a deadly crash, infighting, and unreliable tech — leading investors to lose patience and sparking rumors the company would try to offload the struggling unit. Despite a previous $7.25 billion valuation, ATG was facing an upcoming investment round that would have valued it at less than that, according to TechCrunch, as Uber has doub...
Tags: Google, Amazon, Transportation, Uber, Softbank, Trends, Markets, Tesla, Bloomberg, Mobility, Toyota, Autonomous Vehicles, Self-driving Car, Phoenix, Aurora, ATG


Virgin Hyperloop completes world's first human test

Hyperloops are a new type of transportation technology that involves vacuum tubes and passenger pods traveling at ultra-fast speeds.Although no commercial hyperloops exist yet, a handful of companies around the world are building test tracks, some in partnerships with national governments.Hyperloops could prove to be a faster and more environmentally sustainable form of transportation than flying and high-speed rail, though many obstacles remain. Virgin Hyperloop has successfully completed the ...
Tags: Transportation, Europe, Elon Musk, Technology, Washington, Germany, India, New York City, Environment, Los Angeles, West Virginia, New York Times, Innovation, Virgin, Virgin Group, Richard Branson


Honda to mass-produce Level 3 autonomous cars by March

Honda claims it will be the first automaker to mass-produce vehicles with autonomous capabilities that meet SAE Level 3 standards, with plans to begin producing and selling a version of its Honda Legend luxury sedan with fully approved automated driving equipment in Japan from next March. Honda announced the news via press release (via Reuters) and this follows the approval by the Japanese government of the company’s ‘Traffic Jam Pilot’ autonomous tech, which for the first time will allow driver...
Tags: TC, Transportation, Japan, Cars, Tech, Tesla, Artificial Intelligence, Automotive, Automation, Transport, Driving, Honda, Robotics, Driver, Pilot, Legend


Waze CEO Noam Bardin to leave company in early 2021

Waze CEO Noam Bardin, who joined the company nearly 12 years ago and led it through its acquisition by Google to become a crowdsourced navigation app with millions of active users, is stepping down early next year. Bardin had planned to announce his departure from Waze last spring, but changed his plans as the COVID-19 pandemic swept throughout the globe. The company is now launching a search for its next CEO. Bardin said he will stay on through January 2021 to help find the right person and ...
Tags: Google, TC, Transportation, Israel, Tech, Automotive, Waze, Noam Bardin, Bardin, Uri Levine, Ehud Shabtai Amir Shinar, Waze for Cities


An Uber-like Chinese startup for trucks seeks to raise about $2 billion ahead of its 2021 IPO, report says

VCG / Contributor A Chinese startup that offers truck-hailing services is raising almost $2 billion ahead of its planned 2021 initial public offering, the Wall Street Journal reported.The Uber-style service, known as Full Truck Alliance, is valued at $10 billion ahead of the capital fundraising.The company counts a number of prominent names among its investors including Japan's SoftBank and Google parent Alphabet. Full Truck Alliance claims it is China's largest truck-hailing company.Visit...
Tags: Google, Transportation, Japan, Finance, China, Ipo, Softbank, Funding, Trends, Trucking Industry, Markets, Fundraising, Transport, Truck, Morgan Stanley, Wall Street Journal


Walmart and Cruise partner to test autonomous grocery delivery in Arizona

U.S. retailer Walmart and autonomous vehicle company Cruise are pairing up to test grocery delivery in Scottsdale, Arizona. Under the pilot program, customers will be able to place an order from their local Walmart store and have it delivered via one of Cruise’s autonomous, electric Chevy Bolt cars. While the vehicles will operate autonomously, a human safety operator will always be behind the wheel. The companies haven’t provided details on the size of the fleet or customer area that will...
Tags: TC, Transportation, San Francisco, Tech, Walmart, Cruise, Automotive, Ford, Arizona, Houston, North America, Doordash, Scottsdale, Chevy Bolt, Phoenix, Ward


Elon Musk’s Boring Company is setting up operations in Austin

Elon Musk’s tunneling and transportation startup The Boring Company is eyeing Austin for its next project based on several new job postings. The Boring Company, which last year landed a deal to construct and operate a “people mover” for the Las Vegas Convention Center, tweeted Monday that is was hiring in Austin. Engineering, accountant and business development positions are listed on its website, the type of jobs that suggest that The Boring Company sees enough opportunity in Austin to set up m...
Tags: TC, Transportation, Elon Musk, US, Tech, Tesla, Austin, Musk, TBC, Las Vegas Convention Center, LVCC, Tesla Tesla, Boring Company, Elon Musk 's Boring Company, Austin Chalk, Las Vegas Loop


Uber has its highest close since IPO

Uber shares surged 7.38% to close at $48.18 following news that a vaccine candidate is 90% effective at preventing COVID-19, and could start coming to market in a matter of months. The announcement by drugmakers Pfizer and BioNTech sparked widespread optimism and helped boost shares across industries that have been weakened by the COVID-19 pandemic, including services like ride-hailing. Uber’s share pop is notable beyond this one-day vaccine-news boost. This is the highest close for Uber sinc...
Tags: Transportation, Uber, California, Ipo, Tech, Automotive, Pfizer, Uber Lyft


Transportation on the ballot, Softbank parks its money in REEF and Tesla Tequila arrives

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. 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. What.A.Week. Shall we dig in? Email me anytime at [email protected] to share thoughts, criticisms, offer up opinions or tips. You can also send a direct message to me at Twitter — @kirstenk...
Tags: Apple, Amazon, Transportation, Lyft, Uber, UK, Indonesia, California, Washington, China, Germany, Massachusetts, Softbank, Tech, Information, Tesla


Autonomous delivery startup Nuro hits $5 billion valuation on fresh funding of $500 million

Nuro, the autonomous delivery startup founded by two former Google engineers, has raised $500 million, suggesting that investors still have an appetite for long-term pursuits such as robotics and automated vehicle technology. Nuro now has a post-money valuation of $5 billion. The Series C round was led by funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new investors including Fidelity Management & Research Company and Baillie Gifford. The round also inclu...
Tags: Google, Transportation, Texas, China, Softbank, Tech, Walmart, Arizona, Ferguson, Toyota, Houston, Robotics, Baillie Gifford, Kroger, NetEase, Zhu



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