Saudi Arabia-based public investment fund is reportedly looking to invest in Lucid Motors, a Newark, CA-based electric car maker which is also a rival of Elon Musk’s Tesla. The amount of the fund is expected to be more than $1 billion and the fund ownership of the company will be transferred as stated by the […]
A Chinese electric car maker Nio has announced its filing to go public on the New York Stock Exchange. The company through this initial public offering (IPO) is looking to raise $1.8 billion. With this, Nio has become the first Chinese automaker to seek a listing in the U.S. This news comes at a time […]
Elon Musk, the well-known entrepreneur who is the CEO of Tesla has announced that his electric car company won’t be raising cash by selling stock. Along with this he also stated that the investment in the new factory to be set up in China is expectedly to be done through a local debt from the bank. […]
The automotive and energy storage company, Tesla has confirmed that the head of Model 3 production, who went on leave after chief executive Elon Musk took over his duties, will not be coming back. The departure of engineering senior vice president Doug Field came as California-based Tesla appeared to have finally hit a self-imposed goal […]
LifeSight, an artificial intelligence-powered location intelligence platform based in Singapore, recently raised $2 million in a pre-Series A funding round led by shareholders of Provident Capital Partners, an investment firm based in Indonesia. The funds raised will be used to grow its engineering and data science abilities at its Bengaluru development centre as well as […]
Facebook recorded a significant increase in profits in the first quarter of 2018, thanks to a growing user base and bigger revenues from ads as the social media giant seems to suffer neither harm nor backlash after the recent data leak of over 87 million Facebook users. The profits the Silicon Valley-headquartered company recorded in […]
Tesla has increased its production rate of electric cars in the first quarter of 2018 as new data reveals that the company has presently produced over 35,000 new vehicles. This production amount in 4 months represent a 34% increase compared to their previous record of 25,700 cars produced in Q2 2017. This chart from Pixr8 […]
Amid the Facebook-Analytica data leak controversy, the US Federal Trade Commission has confirmed that Facebook is under investigation into its privacy practices, amidst allegations that its connection with British company Cambridge Analytica resulted in misuse of personal data of some 50 million users. In a related development, attorney generals of as many as 37 states yesterday sent […]
“We will not stop until every car on the road is electric”- Elon Musk The above line by founder of Tesla (world’s first electric automobile company) is somewhat going to be true in upcoming decades. Electric vehicles are taking over the traditional diesel and petrol engines, due to the growing concerns on fossil fuel consumption […]
Elon Musk, the chief executive of Tesla Inc, has said little about how he plans to turn his prototype electric truck into reality. But Reuters has learned that Tesla is collaborating with Anheuser-Busch, PepsiCo and United Parcel Service Inc to build on-site charging terminals at their facilities as part of the automaker’s efforts to roll […]
The founder of debt-laden tech conglomerate LeEco has defied orders from Chinese regulators to return to the country before end-2017, saying he needed to stay in the United States as a fundraising for his electric car startup was making progress. The Beijing branch of the China Securities Regulatory Commission (CSRC) issued a notice last week […]
[dropcap]A[/dropcap]pple co-founder Steve Wozniak (aka “Woz”) shared his insights about his experience with iPhone X. Talking about Apple’s flagship smartphone which was launched on its 10th anniversary, is something Woz said,”..its not what I would want.” He also highlighted the point that digital giants like Google and Facebook are raking in massive profits, at the […]