Tag: automotive industry
Volvo to use Luminar’s lidar in production vehicles to unlock automated driving on highways
Volvo Cars will start producing vehicles in 2020 that are equipped with lidar and a perception stack — technology developed by Silicon Valley startup Luminar that the automaker will use to deploy an automated driving system for highways. For now, the lidar will be part of a hardware package that…
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Tesla turns Q1 profit on cost reductions, rising car margins, credits
Tesla reported Wednesday that it earned $16 million and generated $5.985 billion in revenue in the first quarter, results buoyed by improved automotive margins and reductions in operating expenses. Tesla’s first quarter earnings were lower than the previous period as the COVID-19 pandemic disrupted operations and dampened sales. But the…
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EV startup Nio secures $1 billion investment from China entities
Chinese electric vehicle startup Nio has secured a $1 billion investment from several state-owned companies in Hefei in return for agreeing to establish headquarters in the city’s economic development hotspot and giving up a stake in one of its business units. The injection of capital comes from several investors, including…
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Polestar’s first all-electric vehicle will start at $59,900 in the U.S.
Polestar, the electric performance brand spun out of Volvo, said the base price of its first all-electric vehicle will be $59,900 in the United States, lower than originally targeted. The 2021 Polestar 2, an electric performance fastback, is the first EV to come out of a brand that was relaunched three…
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TuSimple partners with supplier ZF to mass produce self-driving truck tech
Self-driving truck startup TuSimple is partnering with automotive supplier ZF to develop and produce autonomous vehicle technology, such as sensors, on a commercial scale. The partnership, slated to begin in April, will cover China, Europe and North America. The two companies will co-develop sensors needed in autonomous vehicle technology such…
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Major automakers Toyota, Honda, FCA extend factory closures
Toyota, Honda and Fiat Chrysler Automobiles will not reopen North American factories at the end of the month as planned, as the COVID-19 disease spreads and dampens demand for new cars, trucks and SUVs. FCA said Thursday that plants across the U.S. and Canada, as well as headquarters operations and…
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