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Posts Tagged ‘automotive’

TuSimple adds another $120 million to its self-driving trucks war chest

Self-driving truck startup TuSimple has added another $120 million to a Series D funding round led by Sina, operator of China’s biggest microblogging site Weibo, bringing the total haul to $215 million as it seeks to expand. The company, which launched in 2015 and has operations in China, San Diego and Tucson, Arizona, hit unicorn ...

Waymo’s robotaxi pilot surpassed 6,200 riders in its first month in California

Waymo transported 6,299 passengers in self-driving Chrysler Pacifica minivans in its first month participating in a robotaxi pilot program in California, according to a quarterly report the company filed with the California Public Utilities Commission. In all, the company completed 4,678 passenger trips in July — plus another 12 trips for educational purposes. It’s a ...

Voyage raises $31 million to bring driverless taxis to communities

Voyage, the autonomous vehicle startup that spun out of Udacity, announced Thursday it has raised $31 million in a round led by Franklin Templeton. Khosla Ventures, Jaguar Land-Rover’s InMotion Ventures, and Chevron Technology Ventures also participated in the round. The company, which operates a ride-hailing service in retirement communities using self-driving cars supported by human ...

Fair acquires Canvas from Ford to expand its on-demand vehicle subscription business

Fair, the $1.2 billion startup backed by SoftBank that has built a smartphone-based car leasing platform that lets people takes cars for as little as one month, is making another acquisition in the ongoing consolidation of the short-term car rental market. It’s picking up Canvas, another platform for leasing cars, from its owner Ford Motor ...

Elon Musk promises to take Tesla Model S to ‘Plaid’ with new powertrain

Tesla CEO Elon Musk promised a more powerful powertrain option in future Model S, Model X and the next-generation Roadster sports car that will push acceleration and speed beyond the current high bar known as Ludicrous mode. Musk tweeted Wednesday evening “the only thing beyond Ludicrous is Plaid,” a teaser to a higher performing vehicle ...

Audi’s off-roading electric concept would be perfect for Tatooine

Concept vehicles are a staple of the auto show circuit. And while most will never end up as a production vehicle, they can provide insight into an automaker and clues to where it’s headed. Over at Audi, designers and engineers might have had a distant planet in mind. Or at least an expanse of wilderness. ...

Ford unveils lineup for Europe to outpace gas and diesel vehicle sales by 2022

Ford unveiled a range of hybrid vehicles Tuesday at the Frankfurt Motor Show as part of its plan to reach sales of 1 million electrified vehicles in Europe by the end of 2022. Ford introduced hybrid and plug-in hybrid versions of the Mondeo wagon, Puma compact crossover, Kuga (shown below) and Explorer SUVs, as well as ...

Root Insurance valuation hits $3.65 billion in latest round led by DST Global and Coatue

Root Insurance, an Ohio-based car insurance startup that uses smartphone technology to understand individual driver behavior, said Monday it has raised $350 million on a $3.65 billion valuation in a Series E funding round.  The amount of the round was reported last month by Axios, citing anonymous sources. This official announcement fills in the remaining details, ...

Uber commits $200 million to Uber Freight expansion in bet on trucking and Chicago

Uber Freight is establishing its headquarters in Chicago as part of Uber’s broader plan to invest more than $200 million annually in the region, including hiring hundreds of workers. Uber said Monday it will hire 2,000 new employees in the region over the next three years, most of which will be dedicated to Uber Freight ...

Porsche increases stake in electric car maker Rimac Automobili to 15.5%

Porsche AG is increasing its stake in Croatian electric vehicle components and hypercar company Rimac Automobili . The increased stake is the latest effort by Porsche to invest more into electric mobility, particularly in battery technology. It was just 14 months ago that Porsche took a 10% stake in Rimac. Now, the German automaker is ...