Rivian and Volkswagen Group have finalized a multi-billion-dollar joint venture to develop software, paving the way to let the German auto giant leverage the EV startup’s more technical chops in the coming years. Volkswagen will invest up to $5.8 billion by 2027, about 16% more than when the deal was first announced in June. Volkswagen […]
The Rivian-Volkswagen joint venture deal is now up to $5.8B Read More »
Tesla shares have popped since the U.S. election as investors bet that a Trump presidency will benefit the automaker led by ally Elon Musk. Tesla’s shares have rallied nearly 30% since Tuesday, including an increase Friday morning that pushed the company’s market cap past the $1 trillion mark. The share spike is largely related to
Tesla is part of the trillion-dollar club again Read More »
Rivian reported Thursday revenue of $874 million in the third quarter — more than 12% lower than analysts estimates — as the EV startup struggled to resolve a component shortage that disrupted production of its recently overhauled flagship R1S and R1T vehicles. Last month, Rivian lowered its annual production guidance to 47,000 to 49,000 vehicles
Rivian takes major revenue hit as supplier problem persists Read More »
Lucid Motors has officially started taking orders for its electric Gravity SUV, a critically important vehicle that’s supposed to go into production by the end of this year. Interested buyers can now place $1,000 refundable deposits on the “Grand Touring” trim, which starts at $94,900, on the company’s website. Similar to the company’s current model,
Lucid Motors starts taking orders for its existential Gravity SUV Read More »
EV startup Canoo has lost its chief financial officer and its head lawyer, the latest in a string of executive departures as the company continues to struggle to find mass adoption of its electric work vans. CFO Greg Ethridge and general counsel Hector Ruiz both resigned from Canoo on October 31, the company announced Tuesday
Canoo’s CFO and top lawyer are the latest executives to leave Read More »
Ford will pause production of its F-150 Lightning electric pickup truck starting in mid-November for almost two months as it struggles with decreased demand, increased competition, and losses in its electric vehicle business. “We continue to adjust production for an optimal mix of sales growth and profitability,” a Ford spokesperson told TechCrunch. The news was
Ford pauses F-150 Lightning production as Tesla Cybertruck heats up Read More »
The trend of big touchscreens in cars has left many yearning for the not-so-distant days when most user interactions happened with physical buttons. But Rivian’s chief software officer Wassym Bensaid believes using buttons in a car is an “anomaly.” “It’s a bug. It’s not a feature,” Bensaid said Wednesday at TechCrunch Disrupt 2024. “Ideally, you
Rivian’s chief software officer says in-car buttons are ‘an anomaly’ Read More »
“I never thought the propulsion of a vehicle would become a political issue,” GM Chairman and CEO Mary Barra said on stage at TechCrunch Disrupt on Tuesday. While the executive didn’t expand on this statement, former President Trump has railed against EVs and claimed, wrongly, that there is a mandate to make and sell electric
GM CEO Mary Barra on the politics of EVs, the future of AVs, and moving away from China Read More »
General Motors CEO Mary Barra still believes an autonomous vehicle with no steering wheel and pedals is “definitely” in her company’s future, despite recently cancelling the purpose-built Origin. Barra told the crowd at TechCrunch Disrupt 2024 on Tuesday that she still has an eye on a purpose-built robotaxi, but that she made the call to
Mary Barra still thinks GM will make an AV with no steering wheel Read More »
Jon McNeill — a former Tesla and Lyft executive and current CEO at DVx Ventures — spread the word last week at the World Business Forum on what he calls the “Tesla innovation method” of radical simplification. After his presentation, we sat down to chat about Tesla’s automation goals, its new robotaxi, and why building
Jon McNeill’s insights on Tesla’s robotaxi and why EV startups fail Read More »
