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Uber on Tuesday said every vehicle on its global ride-hailing platform will be electric by 2040, and it vowed to contribute $800 million through 2025 to help drivers switch to battery-powered vehicles, including discounts for vehicles bought or leased from partner automakers. Uber, which as of early February said it had 5 million drivers worldwide, …
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General Motors has taken an 11 percent stake in electric-vehicle maker Nikola, through a multibillion-dollar partnership with the Tesla rival announced Tuesday. Under the deal, GM will get $2 billion in Nikola stock to engineer and manufacture the all-electric Badger pickup truck that the Phoenix-based startup first unveiled in February. Nikola will also get access …
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Tesla shares continued their meteoric rise on Thursday, scoring yet another record high and further expanding the distance between the Silicon Valley electric carmaker and its traditional auto industry rivals. Tesla shares rose to $2,290 in mid-day trading before leveling out at $2,240, the highest price since the company went public at $17 a share …
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Tesla shares extended their rally on Wednesday ahead of a quarterly report from the electric-car maker that might clear the way for it to join the S&P 500 and attract some $40 billion in new demand for the stock. A net profit, under Generally Accepted Accounting Principles, would mark four consecutive profitable quarters, a first …
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Germany has banned Tesla from repeating what a court says are misleading advertising statements relating to the capabilities of the firm’s driver assistance systems and to autonomous driving, a Munich judge ruled on Tuesday. Tesla can appeal the ruling. The case was brought by Germany’s Wettbewerbszentrale, an industry-sponsored body tasked with policing anti-competitive practices. The …
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Tesla on Monday slashed the price of its Model Y SUV by $3,000, just four months after its launch, as it looks to keep up its strong sales numbers amid the global pandemic. The Model Y now starts at $49,990, down nearly 6 percent from its previous price of $52,990, according to Tesla’s website. The …
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Electric vehicle startup Rivian, which is backed by Amazon and Ford and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a $2.5-billion investment round led by T. Rowe Price, Rivian said Friday. The deal comes on the heels of electric-car maker Tesla’s meteoric rise in …
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Amazon has agreed to buy California-based self-driving startup Zoox in a deal reported to be worth more than $1 billion that gives it options to use autonomous technology in either ride-hailing or its delivery network. The world’s largest online retailer has stepped up its investment in the car sector, participating in self-driving car startup Aurora …
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The National Highway Traffic Safety Administration said it had opened an investigation into 63,000 Tesla Model S cars after reports of media-control unit failures that led to the loss of the use of touchscreens. The auto safety agency said the preliminary evaluation, covering 2012-2015 model year vehicles, comes after it received 11 complaints alleging premature …
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Electric vehicle maker Tesla wants to start building a large vehicle assembly plant in the southwestern US as early as the third quarter of this year, the company told Texas officials in documents made public this week. But the company is still pitting Texas and Oklahoma against each other in an effort to secure tax …
Uber on Tuesday said every vehicle on its global ride-hailing platform will be electric by 2040, and it vowed to contribute $800 million through 2025 to help drivers switch to battery-powered vehicles, including discounts for vehicles bought or leased from partner automakers. Uber, which as of early February said it had 5 million drivers worldwide, …
