Los Angeles-based electric truck startup Harbinger has raised $160 million in a Series C funding round co-led by FedEx, as it scales up production of its commercial vehicle program. As part of the investment, FedEx has ordered 53 of Harbinger’s electric truck chassis, which the startup says will be ready by the end of this […]
Harbinger raises $160M, will build trucks for FedEx Read More »
Einride said Wednesday it plans to go public via a merger with a special purpose acquisition company, just six weeks after the Swedish electric and autonomous truck startup raised $100 million from investors. The SPAC merger with Legato Merger Corp. values Einride at $1.8 billion in pre-money equity, according to the companies. The deal is
Self-driving trucks startup Einride plans to go public via a SPAC Read More »
Norway’s sovereign wealth fund has voted against a Tesla proposal to give CEO Elon Musk a compensation package worth $1 trillion. The fund, which is managed by Norges Bank Investment Management, holds a 1.14% stake in Tesla valued at about $11.7 billion, according to its mid-year filings in June. “While we appreciate the significant value
Norway’s wealth fund vote is latest blow to Musk’s $1 trillion pay package Read More »
General Motors is laying off thousands of workers across multiple electric vehicle and battery plants in the U.S., according to multiple outlets. Around 1,200 employees at the company’s EV factory in Detroit, Michigan, are being placed on “indefinite layoff.” Further cuts and temporary layoffs are being made at GM’s Ultium Cells battery factories in Ohio
GM cuts thousands of EV and battery factory workers Read More »
Rivian has agreed to pay $250 million to settle a class-action shareholder lawsuit filed after the company suddenly hiked prices on its R1 pickup truck and SUV in 2022. The lawsuit alleged Rivian had included misleading statements and figures in regulatory filings in the run-up to its 2021 IPO about the costs required to build
Rivian will pay $250M to settle lawsuit over R1 price hike Read More »
Rivian’s founder and CEO RJ Scaringe is taking on a new role at his company as part of a restructuring ahead of next year’s launch of the R2 SUV, which involves a layoff of more than 600 employees. Scaringe told employees in an email on Thursday that he will be acting as Rivian’s chief marketing
Rivian CEO takes top marketing role in shakeup ahead of R2 launch Read More »
Tesla’s record sales quarter has offered the company a reprieve after a terrible start to 2025. But CEO Elon Musk is focused on building a “robot army” and making good on his years-long, unfulfilled promise of self-driving cars — tasks he needs to accomplish if he is to unlock the full value of the $1
Elon Musk frets over controlling Tesla’s ‘robot army’ as car biz rebounds slightly Read More »
Tesla delivered a record number of vehicles in the third quarter of 2025, thanks in large part to a rush of customers in the United States who took advantage of the expiring federal EV tax credit. But that record quarter did not lead to greater earnings. In fact, Tesla’s third-quarter profit was still 37% lower
Tesla’s record sales quarter barely boosted profit Read More »
Several years ago, as a skunkworks team of engineers inside Rivian set out to develop an electric micromobility vehicle, one question loomed. “What do we build in-house?” Rivian founder and CEO RJ Scaringe said in an interview recounting the early days of Also, which spun out of Rivian earlier this year. “We realized the only
Rivian spinoff Also reveals a high-end modular e-bike for $4,500 Read More »
General Motors is overhauling the electrical and computational guts of its future vehicles in a bid to deliver faster software, more capable automated driving features, and a custom, conversational AI assistant. The result of this overhaul will debut in 2027 in the Cadillac Escalade IQ. The U.S. automaker, which unveiled its plans at an event
GM’s under-the-hood overhaul puts AI and automated driving at the center Read More »
