Today after the bell, U.S. ride-hailing company Lyft reported its second quarter financial performance. In aggregate the company’s performance was a rebound from the year-ago second quarter, which was heavily impacted by the onset of the COVID-19 pandemic and resulting lockdowns in the United States. Lyft also managed to produce positive adjusted EBITDA in the […]
Nikola, the electric truck startup that went public via a SPAC merger, warned Tuesday that supply chain constraints are causing numerous delays forcing it to slash its vehicle delivery projections in half. The company, which is still in pre-production, said in its second-quarter earnings call that its plans to produce 50 to 100 electric semi […]
Tesla CEO Elon Musk has warned about battery supply constraints before and the effect it might have on the Tesla Semi. That warning was apparently warranted.
Tesla reported Monday an eye-popping $1.14 billion in net income in the second quarter, results that blew past analysts expectations and marked the first time the company’s quarterly profit (on a GAAP basis) has passed the three-comma threshold. The results pushed shares up more than 2.2% in after-hours trading. Tesla was able to beat expectations […]
Polestar plans to launch in nine more markets this year, doubling its global presence as it seeks to sell more of its electric sedans.
This new agreement could allow Lordstown to continue by providing the much-needed capital required to produce its first electric vehicle.
GM is rolling out three major upgrades including automatic lanes changes and towing support to its hands-free driver assistance system Super Cruise and making it available in six vehicles, including the 2022 all-new GMC Hummer EV pickup truck. While GM has steadily improved Super Cruise since its introduction in 2017, for years it has been […]
Rivian, the Amazon-backed electric automaker that aims to be the first to bring an EV pickup truck to market, plans to open a second U.S. manufacturing factory, sources told TechCrunch, confirming an earlier report from Reuters. Rivian wouldn’t elaborate on when it planned to build the factory, but did confirm it was in the process […]
Uber Freight, the logistics business spun out of Uber in 2018, has acquired Transplace for about $2.25 billion from private equity group TPG Capital. The deal announced Thursday will involve $750 million in Uber stock with the remainder in cash. The acquisition of Transplace marks a ramping up of Uber Freight’s business as it aims […]
Autonomous vehicle technology startup Argo AI and its backer and customer Ford plan to launch up to 1,000 self-driving vehicles on Lyft’s ride-hailing network in a number of cities over the next five years starting with Miami and Austin. The first Ford self-driving vehicles, which are equipped with Argo’s autonomous vehicle technology, will become available […]