Tag: Automotive
SoftBank pours $500M into Didi in China’s biggest autonomous driving round
The race to automate vehicles on China’s roads is heating up. Didi, the Uber of China, announced this week an outsized investment of over $500 million in its freshly minted autonomous driving subsidiary. Placing the bet — the single largest fundraising round in China’s autonomous driving sector — is its…
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Tesla board certifies Elon Musk’s payday worth more than $700 million
Tesla’s board certified a financial milestone that unlocks the first tranche — worth more than $700 million — of an unprecedented multibillion-dollar pay package for CEO Elon Musk, according a document filed Thursday with the Securities and Exchange Commission. The milestone allows Musk to purchase the first grouping or tranche…
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Rivian’s Amazon electric delivery van still on track as factory reopens
Rivian, the electric vehicle company backed by Amazon, Cox Automotive and Ford, has resumed work at its factory in Normal, Ill. following a temporary shutdown due to the COVID-19 pandemic. Construction on the factory, which will eventually produce its R1T and R1S electric vehicles for consumers as well as 100,000…
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Nuro’s self-driving vehicles to deliver prescriptions for CVS Pharmacy
Nuro, the autonomous robotics startup that has raised more than $1 billion from Softbank Vision Fund, Greylock and other investors, said Thursday it will test prescription delivery in Houston through a partnership with CVS Pharmacy. The pilot, which will use a fleet of the startup’s autonomous Toyota Prius vehicles and…
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Rivian is building an in-house insurance agency
Rivian is hiring an insurance agency data manager, a job posting that suggests the all-electric automaker is planning to offer its own insurance to customers. The job was first posted by RivianForums, which also reached out to TechCrunch with the tip. Roadshow/CNET also reported about this new position. Rivian wouldn’t…
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Tesla cuts prices across EV lineup, ends free supercharging for Model S, Model X
Tesla slashed prices across its electric vehicle portfolio overnight as the automaker aims to boost sales in an economy beaten down by the COVID-19 pandemic. Reuters and Electrek were the first to report the changes. The base price of Model 3 standard range plus is now $37,990, a $2,000 reduction.…
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