Automakers have battery anxiety, so they’re taking control of the supply

‘The batteries don’t show up, you’re bankrupt, you’re dead’ Rebecca Bellan 1 day Battery joint ventures have become the hot must-have deal for automakers that have set ambitious targets to deliver millions of electric vehicles in the next few years. It’s no longer just about securing a supply of cells. The string of partnerships and […]

Rivian raises another $2.5B, pushing its EV war chest up to $10.5B

Rivian announced Friday that it has closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc. Third Point, Fidelity Management and Research Company, Dragoneer Investment Group and Coatue also participated in the round, according to Rivian. […]

Outdoorsy co-founders detail how they expanded the sharing economy to RVs

‘We’ve opened up a channel for travel consumers never knew they could have before.’ Rebecca Bellan 8 hours Jen Young and Jeff Cavins were sitting in a beige conference room at a downtown Vancouver hotel, wasting away under fluorescent lights, an endless PowerPoint and a pair of sad Styrofoam cups of coffee between them. Young […]

Department of Justice opens investigation into EV startup Lordstown Motors

Lordstown Motors continues to stumble. The beleaguered electric vehicle startup is now being investigated by the Department of Justice, in addition to an ongoing investigation by the Securities and Exchange Commission. The investigation, first broke by the Wall Street Journal on Friday, is still in its early stages, according to unnamed sources. It is being […]

Jiji acquires Cars45 as it looks to build a future outside classifieds

Once heralded as disruptive marketplaces, classifieds are giving way to transactional marketplaces. Yet, some classifieds in the West like eBay have evolved with time, acquiring competition operating both models. In Africa, this occurrence is happening in part, at least for the classifieds businesses that haven’t fizzled out. Jiji, one of the largest marketplaces for classifieds […]

Autonomous trucking startup Embark to go public in $5.2B SPAC deal

Five-year old self-driving truck startup Embark Trucks Inc. said Wednesday it would merge with special purpose acquisition company Northern Genesis Acquisition Corp. II in a deal valued at $5.2 billion. Embark takes a different approach to autonomous trucking: As opposed to manufacturing and operating a fleet of trucks themselves, which is the route rival TuSimple […]

Jaguar Land Rover to develop a Defender-like hydrogen fuel cell EV

Jaguar Land Rover is developing a hydrogen fuel cell vehicle based on the new Defender SUV, and plans to begin testing the prototype next year. The prototype program, known as Project Zeus, is part of JLR’s larger aim to only produce zero-tailpipe emissions vehicles by 2036. JLR has also made a commitment to have zero […]

Apple confirms hiring of Ulrich Kranz, former CEO of EV company Canoo

As former senior executive of BMW AG’s electric car division, Kranz oversaw the development of the sporty electric i3 and i8 cars at BMW, which might give us a hint into the potential aesthetic of the future Apple Car. Anonymous sources say he’ll report to Doug Field, who runs the Apple Car project and previously […]

EV startup Fisker sets moonshot goal of making a climate-neutral EV by 2027

Electric vehicle startup Fisker Inc. has set a moonshot goal of creating its first climate-neutral car by 2027. Fisker has yet to bring a vehicle to market — climate neutral or not — making this an ambitious target. The all-electric Fisker Ocean SUV, which is still on track to go into production in November 2022, […]

Rebranded Toyota Ventures invests $300 million in emerging tech and carbon neutrality 

Toyota AI Ventures, Toyota’s standalone venture capital fund, has dropped the “AI” and is reborn as, simply, Toyota Ventures. The fund is commemorating its new identity by investing an additional $300 million in emerging technologies and carbon neutrality via two early-stage funds: the Toyota Ventures Frontier Fund and the Toyota Ventures Climate Fund.  The introduction […]