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Uber and Lyft lose bid to delay worker reclassification order in California

Uber and Lyft have lost their bid to delay a preliminary injunction that will force the two ride-hailing app companies to reclassify its drivers as employees. A California superior court judge denied Thursday the companies request to delay the order from going into effect August 20. The decision sets the stage for a legal fight and will most certainly require both companies to suspend operations temporarily in California if they fail to get the stay extended. Uber confirmed with TechCrunch it...
Tags: TC, Transportation, Lyft, Uber, California, San Francisco, Tech, Automotive, Court of Appeals, AB, Los Angeles San Diego, Xavier Becerra, California Superior Court, Ethan Schulman


Despite a difficult Q2 2020, Lyft and Uber reiterate profit promises

Lyft is sticking to its previous target to hit quarterly adjusted profitability by the fourth period of 2021, a milestone it says it can achieve even with fewer rides. The company reiterated its quarterly adjusted profit target timeline — a milestone based on earnings before interest, taxes, depreciation and amortization — during its second-quarter earnings call yesterday. Upholding the target in this uncertain era of COVID-19 is newsworthy on its own. But what caught our attention was Lyft’s cl...
Tags: TC, Transportation, Lyft, Uber, Tech, Automotive, Earnings, Mobility, Logan Green, Ride Hailing, EBITDA, Brian Roberts Lyft, COVID-19


Waymo COO Tekedra Mawakana is coming to TC Sessions: Mobility 2020

In the past two years, Waymo has scaled up a robotaxi service in the Phoenix area, locked in or expanded partnerships with Volvo and Fiat Chrysler Automobiles, acquired at least one company, launched a lidar business and ramped up testing of its automated trucks. Standing at the frontline of this change — and Waymo’s future — is Tekedra Mawakana, the company’s chief operating officer. In October, Mawakana will join our virtual stage at TC Sessions: Mobility. The virtual event, which will high...
Tags: Startups, TC, Transportation, Events, Tech, Automotive, Volvo, Fiat Chrysler, Phoenix, Executive Committee, Waymo, Tekedra Mawakana, Mawakana, Tc Sessions Mobility, COO Mawakana, eBay Yahoo AOL


Lyft shares get small bump after reporting 61% Q2 revenue decline

Today after the bell, Lyft reported its second-quarter financial performance. The American ride-hailing company’s results helped illustrate just how much the economy has changed in the wake of COVID-19 and its resulting disruptions to life, travel and work. Uber’s , which were shared last week, provided hints of what was coming for Lyft. The upshot: a sharply reduced ride-hailing business. In the second quarter, Lyft reported revenue of $339.3 million and earnings per share of negative $1...
Tags: TC, Transportation, Lyft, Uber, Tech, Automotive, Earnings, EBITDA, GAAP, Yahoo Finance, Notably Lyft


Uber CEO says service faces temporary shutdown in California over worker reclassification ruling

Uber could be forced to shut down its ride-hailing app in California for several months if a court doesn’t overturn a recent ruling that classifies its drivers as full-time employees, CEO Dara Khosrowshahi said in an interview with MSNBC. “It’s hard to believe we’ll be able to switch our model to full-time employment quickly,” Khosrowshahi said, noting it would force the company to temporarily shut down. Khosrowshahi’s comments are consistent to language in a motion filed Tuesday by Uber followi...
Tags: Transportation, Lyft, California, San Francisco, Tech, Automotive, Msnbc, Court of Appeals, AB, Los Angeles San Diego, Xavier Becerra, Dara Khosrowshahi, California Superior Court, Khosrowshahi, Ethan Schulman


Rivian fires back at Tesla in lawsuit, accuses automaker of attempting to ‘malign its reputation’

Rivian has asked a judge to dismiss a lawsuit filed by Tesla, arguing that two of the three claims in the case fails to state sufficient allegations of trade secret theft and poaching talent and instead was an attempt to malign its reputation and hurt its own recruiting efforts. One remaining claim of breach of contract against four former Tesla employees was not included in this filing asking for “demurrer” or a dismissal because they do not related directly to Rivian. It’s still possible...
Tags: TC, Transportation, California, Court, Tech, Tesla, Automotive, Santa Clara, California Superior Court, Rivian


Tesla announces 5 for 1 share split, rallies 8%

Today after the close of regular trading Tesla, a well-known American electric vehicle company, announced that it intends to split its shares 5 for 1. The split announcement comes after a sharp rally in the value of Tesla equity in recent quarters. The company’s shares quickly rallied on the news, picking up 8% in after-hours trading. Tesla, ever a controversial company, traded for as little as $211 in the last year. After today’s news the company is now worth $1,485 per share. Worth comfortably...
Tags: Fundings & Exits, Elon Musk, Tech, Tesla, Automotive, Ford, Gm, Earnings, Musk, U S Securities and Exchange Commission, Musk of securities


How Moovit went from opportunity to a $900M exit in 8 years

Omar Téllez Contributor Share on Twitter Omar Téllez is a private investor in several tech companies based in LatAm and Silicon Valley. A member of Niantic’s executive team, he was previously president of Moovit. More posts by this contributor Top VCs Are Chasing Digital Companies In Latin America Why Ed Tech Is Taking Off In Latin America In May 2020, Intel announced its purchase of Moovit, ...
Tags: Apple, Google, Startups, TC, Transportation, Apps, Column, Entrepreneurship, Israel, Tech, Intel, Colombia, Automotive, Chile, M&a, Brazil


The all-electric Lucid Air gets an estimated EPA range of 517 miles

Lucid Motors said Tuesday that its upcoming all-electric luxury sedan can travel 517 miles on a single charge — a range that, if validated by the U.S. EPA, blows past every other EV on the road today including Tesla. The estimated EPA range was released ahead of the September 9 reveal of the Lucid Air. The automaker said the estimated EPA range was verified by   FEV North America, Inc., an independent firm that conducted the test in Auburn Hills, Michigan. Lucid Motors, which is backed by Saud...
Tags: Saudi Arabia, Tech, Automotive, Epa, Cto, Lucid, U S EPA, Auburn Hills Michigan, Atieva, Rawlinson, Lucid Motors, Lucid Air, Peter Rawlinson, Lucid Air Rawlinson, FEV North America Inc, Air Lucid Motors


Shares of Uber, Lyft drift lower after California judge says that contract drivers are employees

Shares of Uber and Lyft dipped modestly after a California judge granted a preliminary injunction that TechCrunch reports could force the two American ride-hailing companies to reclassify drivers as employees in the state. Uber’s stock is off about 1.3% following the cessation of normal trading hours after dipping around 2% in regular trading. Lyft’s stock is down a sharper 2.1%, though its shares rose during regular trading, making the impact of its after-hours declines smaller in aggrega...
Tags: TC, Lyft, Uber, California, Court, Tech, Automotive, New York Times, SEC, Company, The Company, San Francisco Superior Court, Uber Lyft, Dara Khosrowshahi, PAGA, COVID


Hyundai to bring three new EVs to market under spin-off brand Ioniq

Hyundai has launched a dedicated EV brand called Ioniq with plans to bring three all-electric vehicles to market over the next four years. The Ioniq brand is part of the Korean automaker’s broader strategy to sell 1 million battery electric vehicles — and take a 10% share of the EV market — by 2025. If the Ioniq name sounds familiar, it’s because it already exists. In 2016, Hyundai introduced the Ioniq, a hatchback that came in hybrid, plug-in hybrid and electric versions. The Korean automaker i...
Tags: Transportation, Tech, Frankfurt, Automotive, Electric Vehicles, Hyundai, Ioniq, GMP Hyundai


The Station: Uber eats rides, the next micromobility trend, Levandowksi’s day in court

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. 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. A series of recent and upcoming vehicle reveals have provided yet another reminder of how automakers are doubling down on tech. This isn’t just about the shift away from knobs and buttons and to...
Tags: Google, Lyft, Uber, Europe, California, Washington, China, New York City, Los Angeles, Tech, Tesla, Bloomberg, Automotive, United States, Ford, Electric Vehicles


$1 dispute over car purchase price sparks 2-year legal battle between auto dealership, Army soldier

Army Maj. Edward Kim has braved mortars, rockets and ambushes from insurgents on some of the bloodiest battlefields of Iraq and Afghanistan. Now safely back on U.S. soil, Kim is fighting a different kind of war in a staid Los Angeles County courtroom. His enemy is Norm Reeves Honda Superstore in Cerritos, a massive auto dealership that, according to the federal government, has a history of deceptive advertising practices. At the heart of competing lawsuits between Norm Reeves and Kim is a disput...
Tags: South Korea, News, California, Iraq, Cars, Sacramento, Los Angeles, Sport, Afghanistan, Automotive, Soccer, Military, Army, Volkswagen, Kim, Lending


$1 dispute over car purchase price sparks 2-year legal battle between auto dealership, Army solider

Army Maj. Edward Kim has braved mortars, rockets and ambushes from insurgents on some of the bloodiest battlefields of Iraq and Afghanistan. Now safely back on U.S. soil, Kim is fighting a different kind of war in a staid Los Angeles County courtroom. His enemy is Norm Reeves Honda Superstore in Cerritos, a massive auto dealership that, according to the federal government, has a history of deceptive advertising practices. At the heart of competing lawsuits between Norm Reeves and Kim is a disput...
Tags: South Korea, News, California, Iraq, Cars, Sacramento, Los Angeles, Sport, Afghanistan, Automotive, Soccer, Military, Army, Volkswagen, Kim, Lending


Lordstown Motors Releases New Video Showing the All-Electric Endurance at Work

Last month, Lordstown Motors Corp. CEO Steve Burns unveiled the first pre-production Lordstown Endurance at its Northeast Ohio headquarters to a crowd that included government officials, Lordstown employees and local stakeholders. Vice President Mike Pence and U.S. Secretary of Energy Dan Brouillette also spoke. The event can be seen in its entirety at ​ youtube.com/lordstownmotors ​ . “Endurance isn’t just the first all-electric pickup truck in America—it’s a virtue the people of...
Tags: Energy, Advertising, America, Indiana, Automotive, Ohio, Northeast Ohio, Erin, Burns, Mike Pence, Valley, Lordstown, Pence, Goodyear, Steve Burns, Mahoning Valley


Researchers Find That Radar Can Be Used to Detect a Nail in a Tire Long Before It Goes Flat

Your car’s dashboard is a smorgasbord of information when it comes to the health and performance of your vehicle. But the one thing it can’t warn drivers about is when the tread on their tires has worn out. It’s a safety risk that researchers from Carnegie Mellon University are focusing on with a new real-time…Read more...
Tags: Science, Safety, Cars, Research, Automotive, Vehicles, Radar, Carnegie Mellon University, BRIDGESTONE, Osprey


Uber’s delivery business is now larger than ride-hailing

Uber reported its and buried in the blizzard of less-than-rosy numbers is a stunning figure that illustrates how much the company has changed during the COVID-19 pandemic. Uber’s delivery business — better known as Uber Eats — is now bigger than its original and core ride-hailing division, based on adjusted net revenue. Now, adjusted net revenue tells only a piece of this evolving Uber story. Income, or losses in the case of Uber’s delivery business, are also important. Still, looking at...
Tags: TC, Uber, Tech, Automotive, Earnings, Uber Eats, Ride Hailing, EBITDA, Dara Khosrowshahi


Cadillac reveals Lyriq, its all-electric SUV flagship loaded with luxury and tech

GM unveiled Thursday the Cadillac Lyriq, an all-electric crossover dripping in luxury, tech-forward touches and promising more than 300 miles of range that aims to propel the brand into a new electrified era. That new era for Cadillac will have to wait though. The company said the Lyriq will go into production in the U.S. in late 2022, more than two years after its reveal date. The Cadillac Lyriq will be a global product, meaning it will be headed to China as well. Production in China will be...
Tags: Transportation, China, Tech, Tesla, Automotive, Gm, Dc, Northeast Ohio, Cadillac, Lordstown, Lordstown Ohio, Buick Cadillac Chevrolet, LG Chem, Cadillac Lyriq, Lyriq, Ultium


Security bugs let these car hackers remotely control a Mercedes-Benz

Few could ever forget back in 2015 when security researchers Charlie Miller and Chris Valasek remotely killed a Jeep’s engine on a highway with a Wired reporter at the wheel. Since then, the car hacking world has bustled with security researchers looking to find new bugs — and ways to exploit them — in a new wave of internet-connected cars that have only existed the past decade. This year’s Black Hat security conference — albeit virtual, thanks to the coronavirus pandemic — is no different. Secu...
Tags: Security, Europe, China, Cars, Tech, Vulnerability, Automotive, Hacking, Mercedes Benz, Mercedes, TCU, Signal, Daimler, Qihoo, Computer Security, Miller


Unagi, the iPhone of scooters, now has a subscription service

Unagi, the portable and design-forward electric scooter company that made a splash with celebs and pop stars, has launched a subscription service. The service, called Unagi All-Access, will be offered in New York City and Los Angeles. The company said it plans to expand to additional markets as it gathers customer feedback and refines the service. Customers will be able to choose from two plans. There will be pay-as-you-go monthly plan that costs $39 per month and a discounted annual plan for $3...
Tags: Transportation, La, New York City, Los Angeles, Tech, Customers, Automotive, Scooters, UC Berkeley, Unagi, Hyman, VOI, Haas Business School, David Hyman Unagi


Lexus Celebrates the Need to Get Out

Lexus unveils a new marketing campaign today to launch its first convertible in almost five years: the 2021 LC 500 Convertible. And the timing couldn’t be better. This convertible is perhaps the perfect expression of the emotional desire of the times, and the new campaign from the luxury automaker leans in to that need to get out and soak in the freedom and daylight.   “The decision to purchase a convertible is typically an emotional one,” said Lisa Materazzo, Lexus vice president of ma...
Tags: Featured, Advertising, Automotive, Lexus, Conde Nast Traveler, ABC NBC, Team One, ESPN Digital, Lisa Materazzo Lexus, Esquire Elle Decor, Robb Report Architectural Digest


ChargePoint raises $127M as electric vehicle adoption grows among fleet operators

Electric vehicle charging network ChargePoint raised $127 million in funding in a bid to expand its platform for businesses and fleets in North America and Europe. A mix of existing investors from the oil and gas, utilities and venture industries added to the round, including American Electric Power, Chevron Technology Ventures, Clearvision and Quantum Energy Partners. This latest addition, which was an extension of its Series H round, pushes ChargePoint’s total funding to $660 million. The c...
Tags: Transportation, Europe, Tech, Tesla, Automotive, Electric Vehicles, North America, Chargepoint, Pasquale Romano, Rivian, GM Ford Nissan Volvo


Anthony Levandowski, Engineer at Center of Uber v. Waymo, Sentenced to 18 Months for Trade Theft

Anthony Levandowski, the former Google autonomous vehicle engineer whose switch to Uber was the subject of massive lawsuit, has been sentenced to 18 months in prison for trade theft.Read more...
Tags: Google, Uber, Science, Technology, Crime, Automotive, Courts, Autonomous Vehicles, Alphabet, Self Driving Cars, Waymo, Anthony Levandowski, Center of Uber


Anthony Levandowski sentenced to 18 months in prison, as new $4B lawsuit against Uber is filed

Anthony Levandowski, the former Google engineer and serial entrepreneur who was at the center of a lawsuit between Uber and Waymo, has been sentenced to 18 months on one count of stealing trade secrets.  Levandowski won’t be heading straight to prison, however. Judge William Alsup postponed his incarceration due to the COVID-19 pandemic. He will report to prison at a future date yet to be determined. Judge Alsup said that home confinement would “[give] a green light to every future ...
Tags: Google, TC, Uber, Tech, Bloomberg, Chicago, Automotive, Otto, William Alsup, Alsup, Waymo, Anthony Levandowski, Levandowski, Otto Trucking, Alphabet Levandowski, Lior Ron Claire Delaunay


Ford names Jim Farley as new CEO, Jim Hackett to retire

Ford Motor CEO Jim Hackett is retiring, leaving the company three years after being tapped to transform the automaker into a leaner, more competitive and profitable company while investing in technology and shifting towards electrification, automation and connectivity. Jim Farley, who many believed was being groomed for the position, has been named president and CEO. Farley joined Ford in 2007 as global head of marketing and sales. He moved through the ranks of the company until 2019 when ...
Tags: TC, Tech, Automotive, Ford, Electric Vehicles, Bill Ford, North America, Ford Motor, Farley, Bronco, Jim Hackett, Hackett, Jim Farley, Joe Hinrichs, Bronco Ford


Lordstown Motors becomes latest EV automaker to use a SPAC to go public

Lordstown Motors, the one-year-old Ohio electric automaker that revealed a pickup truck prototype in June, has reached a deal to merge with special-purpose acquisition company DiamondPeak Holdings Corp, with a market value of $1.6 billion. The agreement marks the latest company — and electric automaker — to become a publicly traded company through a merger agreement with a SPAC, or blank check company. Electric automakers Nikola Motor and Fisker Inc. have also become public companies through ...
Tags: Tech, General Motors, Automotive, Gm, Ohio, Electric, Nasdaq, Blackrock, Burns, SPAC, Lordstown, Velodyne Lidar, Steve Burns, Workhorse Group, Workhorse, Fisker Inc


Is the 2020 SPAC boom an echo of the 2017 ICO craze?

I wanted to write an essay about Microsoft and TikTok today, because I was effectively a full-time reporter covering the software giant when it hired Satya Nadella in 2014. But, everyone else has already done that and, frankly, there’s a more pressing financial topic for us to parse. Let’s take a minute to take stock of SPAC (special purpose acquisition companies) which have risen sharply to fresh prominence in recent months. Also known as blank-check companies, SPACS are firms that are sent pub...
Tags: Fundings & Exits, Startups, TC, Microsoft, Finance, Satya Nadella, Tech, Tesla, Automotive, Payments, Electric, SPAC, Nikola, NIO, Market Analysis, Porch.com


The Station: ADA turns 30, Panasonic’s new battery tech and delivery (data) woes

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. 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. Before we get into all the mobility news and analysis of the week I wanted to flag an upcoming event that might be of interest to the budding entrepreneurs out there. TC Disrupt, that BIG annual...
Tags: Travel, TC, Transportation, Lyft, Elon Musk, New York, Indonesia, Washington, China, Germany, Berlin, Singapore, New York City, San Francisco, Tesla, Walmart


Ford Bronco reservations surpass 150,000

The reception to Bronco 2021 — Ford’s flagship series of 4×4 vehicles that were revealed earlier this month — surpassed expectations of the company’s most optimistic initial projections, CEO Jim Hackett said in an earnings call Thursday.  More than 150,000 customers have plunked down $100 to reserve a spot to order one of the vehicles, according to Ford.  “We think this family of vehicles has big upside potential in the growing off-road category and this is a category with a leading OEM ha...
Tags: TC, Mexico, Tech, Automotive, Ford, Electric Vehicles, Gm, Ford Bronco, Bronco, Jim Hackett, Hackett, Michigan Assembly Plant, Jim Farley, Rivian, Tesla Cybertruck, Wayne Michigan The Bronco Sport


Self-driving startup Argo AI hits $7.5 billion valuation

Autonomous vehicle technology startup Argo AI is valued at $7.5 billion, just a little more than three years after the company burst on the scene with a $1 billion investment from Ford. The official valuation was confirmed Thursday nearly two months after VW Group finalized its $2.6 billion investment in Argo AI. Under that deal, Ford and VW have equal ownership stakes, which will be roughly 40% each over time. The remaining equity sits with Argo’s co-founders as well as employees. Argo’s boa...
Tags: Google, TC, Washington, Tech, Munich, Automotive, Vw, Ford, Volkswagen, Argo, Pittsburgh, VW Group, Cranbury, Jim Hackett, Hackett, Tim Stone