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German Mobility Startup Vay Raises $95 Million
Vay raised $95 million from investors such as Kinnevik, Coatue and Eurazeo, as it planned to launch its first car-rental service in Hamburg next year.
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Battery Maker Northvolt And Galp Energia Form JV To Build Lithium Plant
Northvolt will build a lithium processing plant with Portugal's Galp Energia with investments estimated at around 700 million euros ($789.6 million), as demand grows for lithium-ion batteries to power electric vehicles.
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U.S. Commerce Chief: Funding For Semiconductor Production Could Slip To 2022
U.S. Commerce Secretary Gina Raimondo on Tuesday said efforts in Congress to approve $52 billion to expand U.S. semiconductor manufacturing could slip into 2022.
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Self-Driving Startup Robotics Research Raises $228 Million In Funding
The fundraising round also included an investment from Luminar Technologies, which makes lidar sensors used in self-driving cars.
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Toyota To Build New $1.3 Billion Battery Plant In North Carolina
The new plant, at a site in Liberty that will begin production in 2025, will initially be capable of supplying lithium-ion batteries for 800,000 vehicles annually, and will "pave the way" for Toyota's U.S. production of electric vehicles.
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GM's Cruise Disputes San Francisco Concerns On Stops, Says 'Double Parking' Legal
The San Francisco Municipal Transportation Agency (SFMTA) last week challenged Cruise's application for a permit to deploy robotaxis in San Francisco on the grounds that it was illegally "double parking" during testing, creating safety and traffic concerns.
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Nissan To Build New Battery Recycling Factories In U.S., Europe By 2025
Nissan plans to build new battery recycling factories in the United States and Europe by the end of fiscal 2025.
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Indian Ride Hailing Firm Ola Raises $500 Million Loan
The proposed loan issuance got a staggering response from investors with interest and commitment of about $1.5 billion, the Bengaluru-based company said.
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GM, Google, Others Join Retreat From CES Over Rising COVID-19 Cases
General Motors, Alphabet Inc.'s Google and its self-driving auto-technology company Waymo joined the companies no longer attending the Consumer Electronics Show (CES) in person early next month due to rising COVID-19 infections.
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U.S. Opens Investigation Into 580,000 Tesla Vehicles Over Game Feature
The agency said the decision to open the investigation was based on reports "Tesla's gameplay functionality is visible from the driver's seat and can be enabled while driving the vehicle."
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Stellantis CEO Says EV Cost Burden Is 'Beyond The Limits' For Automakers
Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, said Chief Executive Carlos Tavares.
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Oil Prices Rally On Inventory Drawdown, Casting Omicron Caution To The Wind
U.S. inventories fell more than expected, with crude stocks down by 4.7 million barrels, though that is in part due to year-end tax considerations that encourage companies not to store crude barrels.
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EV Maker Lucid Gets SEC Subpoena On $24-Billion Blank-Check Deal
Lucid's deal with veteran dealmaker Michael Klein's blank-check firm earlier this year gave the combined company a pro-forma equity value of $24 billion, making it one of the biggest deals with Special Purpose Acquisition Companies (SPACs).
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Canoo Revs Up U.S. Electric Vehicle Production Plan As Drops Overseas Deal
Canoo said starting production in Oklahoma remains on track for late 2023, but it also now expects to begin building electric vehicles in Arkansas next year, instead of using the VDL Nedcar plant.
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Elon Musk: I'm Almost Done With Tesla Stock Sales
On Wednesday, Musk sold another 934,091 shares, bringing the total he has offloaded to 14.77 million - nearly 90% of the 17 million or so shares he had been expected to sell.
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India's Crude Imports Hit 10-Month Peak As Refiners Bank On Strong Demand
Crude oil imports last month rose 7.5% versus October and were also 0.5% higher than a year ago at 18.37 million tonnes, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed on Thursday.
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Chinese Autonomous Driving Startup Raises $157 Million From Hillhouse, Meituan
Haomo will use the funds raised from investors to build its talent pool and enhance its R&D capability, the company said in a statement on Wednesday.
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Israel Eyes 400 Self-Driving Electric Taxis, Possibly On Road By Early 2022
The proposed Transportation Ministry's law that was presented to parliament's Economic Affairs Committee would arrange, supervise and develop the autonomous sector in Israel, initially limited to just taxis.
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Micron Results Beat Forecasts, Sees Chip Shortages Easing In 2022
Micron said data center revenue grew 70% and that automotive revenue grew 25%, with the automotive growth coming from the increasing amount of memory required in cars with advanced driver safety systems.
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Musk Says Tesla's Cybertruck Will Have Four-Motor Variant
Calling the electric pick-up truck "insane technology bandwagon," Musk said the Cybertruck would have both front and rear-wheel steer that would "not just (turn) like a tank - it can drive diagonally like a crab."
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