Lyft beat the street on revenue in the fourth quarter, but it wasn’t enough to assuage investors who reacted to the ride-hailing company’s weak guidance for the first three months of 2023. Lyft lowered expectations for revenue in the first quarter to $975 million. Analysts had expected the company to promise $1.09 billion in revenue.…
Ford Motor Company has sold a majority of its Rivian shares, according to regulatory filings. Ford’s stake in the electric vehicle maker, which has been dropping steadily since May 2022, is now at 1.15%, or 10.5 million shares. The sell comes a week after Ford reported a $7.3 billion write-down on its Rivian investment last…
After years of pressure from the autonomous vehicle industry, The California Department of Motor Vehicles is on the verge of allowing companies to test and deploy self-driving trucks on public roads. Now, a new speed bump has emerged. California Assembly Member Cecilia Aguiar-Curry introduced in late January a bill that would require a trained human safety operator…
Battery materials and recycling startup Redwood Materials has secured a conditional commitment for a $2 billion loan from the Department of Energy as part of the Biden Administration’s bid to build up a supply chain for EVs in the United States. The conditional commitment from DOE’s loan program office, which was announced Thursday, is part…
Tesla’s Autopilot was not at fault in a 2021 crash in which two people died, according to the National Transportation Safety Board (NTSB). In a final report spotted by Ars Technica, the agency determined that the 2019 Model S accelerated just before hitting a tree in Spring, Texas, just north of Houston. Neither occupant was…
Automakers have struggled in recent years to secure the semiconductor chips needed in today’s modern and increasingly tech-laden vehicles. The shortage has chipped away at profits, periodically idled factories and left automakers with unfinished vehicles that consumers are ready to buy. Now, GM has struck a deal with GlobalFoundries to alleviate that problem. The two…
Tesla CEO Elon Musk tweeted Wednesday that he will present the long-awaited and often teased Master Plan 3 during the company’s investor day March 1. Tesla’s investor day will be held at the company’s Gigafactory Texas located near Austin. The event will be live streamed. Some of the company’s institutional and retail investors will be…
Google is rolling out new features for electric vehicles with Google Maps built in, the company said at its Live from Paris event Wednesday. The features, iterations of which were introduced in November to the Maps smartphone app, aim to alleviate the symptoms of range anxiety for EV drivers. Drivers using Maps on their car’s…
Zypp Electric, an Indian startup that offers an EV-as-a-service platform catering to e-commerce companies and gig workers, has received a $25 million investment led by Taiwan’s battery-swapping giant Gogoro. The cash from Gogoro is an extension of a strategic partnership between the two companies, and a signal of Gogoro’s continued commitment to the Indian market.…
Mercedes-Benz said Tuesday that its long-anticipated and updated battery-electric eSprinter is finally coming to North America, with production set to begin in the second half of 2023 at its factory in Charleston, South Carolina. The Mercedes-Benz eSprinter — and its arrival to the United States and Canada— has been teased for months now. And sure,…
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