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Posts Tagged ‘Michigan’

Proposed amendments to the Volcker Rule could be a lifeline for venture firms hit by market downturn

In the wake of the financial crisis, Congress passed regulations limiting the types of investments that banks could make into private equity and venture capital funds. As cash strapped investors pull back on commitments to venture funds given the precipitous drop of public market stocks, loosening restrictions on the how banks invest cash could be ...

Rivian shuts down all facilities over COVID-19 pandemic concerns

Rivian, the buzzy electric vehicle startup that is backed by Amazon and Ford, is shutting down all of its facilities due to the spread of COVID-19, the disease caused by coronavirus. Rivian employs more than 2,000 workers across several locations, including its headquarters in Plymouth, Mich., a factory in Normal, Ill. as well as operations ...

Toyota leads $50 million investment in autonomous shuttle startup May Mobility

May Mobility, a Michigan-based startup that is operating autonomous shuttle services in three U.S. cities, has has raised $50 million in a Series B round led by Toyota Motor Corp. The funding, which comes less than a year after May Mobility raised $22 million, will be used to expand every aspect of the company, including ...

Ford says it has nothing to prove to Tesla in F-150 vs Cybertruck tow battle

It was the challenge heard around the electric vehicle world. And now it seems, the Ford F-150 versus Tesla Cybertruck tow battle that we were all ready for, probably won’t happen. A quick recap: Tesla CEO Elon Musk poked the figurative Dearborn, Michigan bear in the middle of the company’s Cybertruck unveiling when he played ...

Convoy raises $400 million to expand its on-demand trucking platform

Convoy, the digital freight network that connects truckers with shippers, has raised $400 million in a Series D funding round as it aims to scale its business amid an increasingly competitive market. The funding round brings Convoy’s post-money valuation to $2.75 billion. The round was co-led by Generation Investment Management and previous Convoy investor T. ...

Rashida Tlaib endorses Bernie Sanders

Rep Rashida Tlaib [D-MI] has joined Reps Alexandria Ocasio-Cortez and Ilhan Omar in endorsing Bernie Sanders' bid for the Democratic presidential nomination in 2020.

Three of the four members of "The Squad" -- four freshman Democratic Congresswomen who are members of the Democratic Socialists of America -- have endorsed Sanders; the remaining member, Ayanna Pressley ...

Samsung satellite crashes in family’s yard

Nancy Mumby-Welke lives in rural Saginaw County, MI; yesterday morning she was about to let her horses out when she discovered the crashed, humming remains of a Samsung satellite on her property.

The satellite may have been launched for Samsung's "Spaceselfie" marketing gimmick, and the company has agreed to remove it from Mumby-Welke's property.

The details of ...

The Station: Volvo evolves, Skip trips and touchscreen tech

The Station is back for another week of news and analysis on all the ways people and goods move from Point A to Point B — today and in the future. As always, I’m your host Kirsten Korosec, senior reporter at TechCrunch. Portions of the newsletter will be published as an article on the main ...

NASCAR could debut hybrids as early as 2022

NASCAR could introduce hybrid powered cars as early as 2022, NASCAR’s SVP for Racing Development John Probst told TechCrunch. The auto-racing series — which is America’s most popular motorsport — opened up on the development of competition vehicles powered by gas and electricity. “We travel the world visiting other sanctioning bodies and are not ignorant ...

Canoo takes the covers off of its debut electric vehicle

The Los Angeles-based startup Canoo has finally unveiled its first model, the eponymously named canoo. The Canoo designers have departed pretty radically from the traditional designs that other electric vehicle manufacturers have favored going with something that looks more like a VW Microbus than the sport utility vehicle that Byton is aiming for, or Tesla ...