Saudi Arabia’s sovereign wealth fund is investing $1 billion into Lucid Motors, capital that will finance the commercial launch of the startup’s first electric vehicle. The agreement comes just six weeks after Tesla CEO Elon Musk tweeted that he was considering taking Tesla private at $420 a share and had secured the proper funding to […]
Electric vehicles still make up just a fraction of the cars, trucks and SUVs on the road today. But that’s changing: The number of electric and plug-in hybrid cars on the world’s roads exceeded 3 million in 2017. By 2025, there are expected to be 20 million electric vehicles in just North America and Europe. […]
Drivers of new Mercedes-Benz A-Class vehicles will soon be able to talk to their cars. And the cars will respond. Ask the car to turn on the heads-up display or for sports scores. Say you’re hungry and it will suggest restaurants. The new in-vehicle assistant utilizes local and cloud data to provide drivers plenty to […]
Shift Technologies, an online marketplace for used cars, has closed a Series D financing round of more than $140 million in equity and debt. The round, which consists of about $70 million in debt and $71 million in equity, was led by automotive retailer Lithia Motors. Bryan DeBoer, CEO and president of Lithia, will join Shift’s […]
Nio, the Tesla -wannabe electric vehicle firm from China, enjoyed a mixed start to life as a public company after it raised $1 billion through a listing on the New York Stock Exchange on Wednesday. The firm went public at $6.26 — just one cent above the bottom of its pricing range — meaning that […]
Aclima, a San Francisco-based startup building Internet-connected air quality sensors has announced plans to integrate its mobile sensing platform into Google’s global fleet of Street View vehicles. Google uses the Street View cars to map the land for Google Maps. Starting with 50 cars in Houston, Mexico City and Sydney, Aclima will capture air quality […]
The U.S. IPO window may be wide open for Chinese tech firms, but electric vehicle maker Nio has conservatively cut the target for its NYSE listing to $1.5 billion after it released a price range for its shares. The company plans to sell 184 million shares between $6.25-$8.25. That range would yield a total raise […]
Japan-based semiconductor firm Renesas — one of the world’s largest supplier of chips for the automotive industry — is scooping up U.S. chip company IDT in a $6.7 billion deal that increases its focus on self-driving technology. Renesas produces microprocessor and circuits that power devices, and automotive is its core focus. It is second only to NXP […]
Swiss startup Avrios reckons business mobility is going to get a whole lot more interesting as companies adopt more tailored mobility solutions, rather than sticking with the traditional one car per person model. And at the same time as businesses are seeking to accelerate their progressive cred by moving away from combustion cars to greener alternatives, new […]
Apple’s secretive self-driving vehicle program has disclosed its first accident, according to a report filed with the California Department of Motor Vehicles. The low speed accident, which occurred August 24, is a milestone of sorts for the company, albeit not one that is being celebrated. These days, as more companies head out onto public streets […]