Industry
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Ahead of Uber's historic IPO in the coming weeks, the ride-hail giant's self-driving car division received a $1 billion injection from Toyota, investment firm SoftBank, and automotive supplier Denso. Toyota and Denso will together invest $667 million and SoftBank will invest $333 million, valuing the unit, known as Uber ATG (Advanced Technologies Group), at $7.25B, the companies announced Thursday. Uber itself could be valued as high as $100B if it manages to raise $10B in its IPO. “The team at Uber ATG has made significant progress developing highly robust automated ride-sharing...
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Daimler reportedly to end ties with Renault Nissan, cut jobsDaimler will seek to end old ties and cut jobs as it looks to reduce costs in light of falling profits and increased investment required for new technologies.
Viknesh Vijayenthiran -
Lotus' Chinese plant under constructionLotus' new owner, Zhejiang Geely Holding Group, the Chinese company that turned around Volvo and made Polestar a high-end EV brand, has ambitious plans in store for the sports car manufacturer from Hethel. The goal is to transform Lotus into a proper Porsche rival, by launching high-volume models...
Viknesh Vijayenthiran -
Audi Select subscription program adds new tier, updates pricesAudi's car subscription service now offers a more affordable set of vehicles with the introduction of the Core Collection. The brand announced Tuesday the service will expand to two tiers in the Dallas/Fort Worth metro area. Audi Select launched with a single tier of vehicles available for a flat...
Sean Szymkowski -
Geely launches Geometry EV brand with Tesla Model 3 rivalGeely has launched the global EV brand Geometry as an alternative to Tesla and plans to add as many 10 models by 2025.
Viknesh Vijayenthiran -
Ford CEO says company overestimated self-driving car's arrivalFord has backpedaled on its expectations for self-driving cars in the near future. The automaker's CEO, Jim Hackett, said at a Detroit Economic Club event on Tuesday that the automaker "overestimated" how soon self-driving cars would be available, according to a Bloomberg report. Hackett added Ford...
Sean Szymkowski -
Sitting at a simple deck in front of plain white backdrop, embattled former chairman of the Renault-Nissan alliance, Carlos Ghosn, addressed his situation via video for the first time on Tuesday. The video, he says, was created in case the executive was unable to make his scheduled press conference on April 11. Last week, Ghosn said via a new verified Twitter account that he would "tell the truth" at said press conference. One day later, Japanese authorities re-arrested him over suspicion of new financial crimes. Ghosn had been out of jail on bail for just one month. "The first message is I...
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Ford RS chief engineer moves to HyundaiSouth Korean automaker Hyundai has plucked Ford's chief RS engineer. Tyrone Johnson has been named head of vehicle test and development at the Hyundai Motor Europe Test and Development facility in Germany after working on Ford's RS vehicles in his previous role. Autocar reported Monday on Johnson's...
Sean Szymkowski -
I work the line: What it’s like to assemble a 2019 Volvo S60Volvo takes us behind the curtain at its new assembly plant in South Carolina, and lets Motor Authority install the windshield on your next S60 luxury sedan—with a lot of help.
Martin Padgett -
In-house recycling program will allow Jaguar to turn old cars into new onesJaguar is developing an in-house recycling program that will enable the brand to use aluminum and batteries from its older models to go into new cars.
Sean Szymkowski -
Next Toyota Tundra and Tacoma to reportedly share a platformFuture Toyota pickup trucks across the globe may share one common platform, regardless of segment and configuration. Thus, the mid-size Tacoma and full-size Tundra will reportedly ride on shared bones, according to an Automotive News (subscription required) report on Monday. The report cited...
Sean Szymkowski -
FCA to pay Tesla for help in avoiding European emissions violationsTo get its fleet-wide average carbon emissions down to a permissible level in Europe, Fiat Chrysler Automobiles will pay Tesla hundreds of millions of dollars to count its EVs.
Viknesh Vijayenthiran -
Fisker has hired an industry veteran to help lay the groundwork for production of its 300-mile electric SUV due in 2021.
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Apple patents system to help self-driving cars correct slipping tiresApple remains quiet about any plans for self-driving cars, but it continues to file patents that clue us into what the technology company is interested in. A new patent revolves around detecting speed and behavior at a self-driving car's tires. Essentially, it's a new process that could give a...
Sean Szymkowski -
Ford, Toyota, GM and SAE collaborate on standards for self-driving carsA new consortium has been established by major automakers and SAE International to help determine safety standards for developing self-driving cars.
Sean Szymkowski -
Lucid sells $1B stake to Saudi Arabia, plans production of Air sedan in 2020EV startup Lucid Motors has received a $1 billion investment from Saudi Arabia, which it will use to start production of the Air luxury sedan in 2020.
Viknesh Vijayenthiran -
A month out on bail, ex-Renault Nissan chief Carlos Ghosn is arrested againCarlos Ghosn was arrested again in Tokyo, just a day after he said he was ready to "tell the truth" about his alleged financial misconduct while running the Renault Nissan Mitsubishi Alliance.
Viknesh Vijayenthiran -
Former Renault-Nissan head Carlos Ghosn will "tell the truth" next weekFollowing former Renault-Nissan head Carlos Ghosn's abrupt fall from grace this past November, the embattled executive is ready to "tell the truth." Ghosn made the statement via a new verified Twitter account on Tuesday. The New York Times first reported on the tweet Wednesday. Ghosn also said he...
Sean Szymkowski -
Apple has poached yet another Tesla executive. The technology company has brought on Tesla's head of powertrains, Michael Schwekutsch. Schwekutsch was previously in vice president of engineering at Tesla where he oversaw electric motors, transmissions, and axles. According to his LinkedIn profile, he previously worked on the Model 3, the new Roadster, and the Semi at Tesla. His profile confirmed he's now with Apple, which Electrek first spotted in a Saturday report. He's also worked with other auto suppliers and automakers. A few of his notable projects have been the BMW i8 and Porsche 918...
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LA ponders congestion charge for busiest parts of cityWhile New York City is closer than ever to implementing a congestion charge, and thus becoming the first city in the United States to do so, a similar idea has been floated in Los Angeles. According to a report from The Los Angeles Times, the city is looking to follow in N.Y.'s footsteps and may...
Sean Szymkowski -
Aston Martin trademarks "Valen" name, but what's it for?A new trademark has surfaced from Aston Martin for the name "Valen," but it's not entirely clear how the automaker plans to use it. The trademark was first filed with the Lebanese trademark office in October 2018, and the name was then trademarked in the United Kingdom this year. AutoGuide first...
Sean Szymkowski -
Daimler to bring self-driving trucks to the road with America's Torc RoboticsThe commercial vehicle arm of Mercedes-Benz parent company Daimler on Friday announced it acquired a majority stake in Torc Robotics, a company based in Blacksburg, Virginia, developing self-driving systems for multiple vehicle categories, ranging from SUVs to 300-ton mining trucks. The deal, which...
Viknesh Vijayenthiran -
Rolls-Royce's new design chief is the man who penned the VeyronRolls-Royce has been without a head designer since Giles Taylor stepped down last September after a 6-year stint to join China's FAW Group, where he's been tasked with helping shape future products from a revived Hongqi. The situation at Rolls-Royce finally changed on Monday with the appointment of...
Viknesh Vijayenthiran -
BMW i2 rumored as first BMW-Daimler joint project, could replace i3BMW and Mercedes-Benz parent company Daimler appear to be setting aside their decades-old rivalry for the good of cost-cutting. A new report claims the two German auto giants will pursue joint development of a platform for future electric cars. For BMW, this model is reportedly set to be called the...
Sean Szymkowski