Archive for the ‘Funding’ Category

Tesla’s Musk Expresses Interest in Closing GM Plants

Exec expresses disdain for SEC, approvals.

by on Dec.10, 2018

Elon Musk expressed interest in buying one of the plants General Motors plans to close in the near future.

Tesla co-founder Elon Musk is ready to play “Let’s Make a Deal” with General Motors — again.

Not, Musk doesn’t want to challenge GM CEO Mary Barra to appear on the television game show, but he did tell reporter Lesley Stahl on the CBS news show 60 Minutes he would be willing to buy one of the plants GM plans to shut down in the near future.

Dig Deeper!

“It’s possible that we would be interested. If they were going to sell a plant or not use it that we would take it over,” he said during the interview. (more…)

Chinese EV Maker Byton Unwraps 2nd Model at L.A. Auto Show

“We need a lot of funding,” CEO admits, outlining challenges ahead.

by on Dec.03, 2018

Byton CEO Carson Breitfield talks about the new K-Byte EV at the Los Angeles Auto Show.

The global automotive market is in the midst of a revolution, something obvious to anyone attending this year’s Los Angeles Auto Show. Not only are we seeing a push into new technologies like electrification and autonomy, but the established carmakers are being taken on by a variety of automotive upstarts.

To a list that already includes the likes of Tesla, Faraday Future and Rivian, add China-based Byton. The company helped anchor the first day of previews at the L.A. Auto Show by unveiling a prototype of what it says will be its second new model, the K-Byte. But Byton officials also acknowledged that they still face challenges in their road to production.

News Now!

The debut of the K-Byte follows Byton’s original prototype, the M-Byte, and targets a relatively mainstream buyer, at least by the standards of the electric vehicle market. According to Breitfeld, the sleek battery-sedan will come in at a starting price of around $45,000 when it comes to market. The target, at least, is to have it reach showrooms in China next year, followed by a late 2019 launch in the U.S., and a European roll-out in 2020. (more…)

GM Moves Ammann into CEO Role at GM Cruise

Move marks the second in six months for Ammann.

by on Nov.29, 2018

General Motors President Dan Ammann is now GM Cruise Chief Executive Officer Dan Ammann.

General Motors President Dan Ammann is changing jobs again, now serving as the full time as the Chief Executive Officer of GM Cruise, GM’s autonomous vehicle subsidiary.

Ammann had worked closely with Cruise since GM acquired the self-driving vehicle start up back in 2016.

Business News!

The move marks the second time in six months that Ammann’s role within the company has been changed. In July, he shifted some of his responsibilities to Executive Vice President Mark Reuss to focus on the company’s development of autonomous vehicles.  (more…)

Electrify America Set Expand EV Charging Infrastructure

Stations designed to raise awareness for EVs.

by on Oct.04, 2018

Electrify America is getting ready to build $200 million worth of new EV fast chargers.

Electrify America, the organization created out of the Volkswagen diesel scandal to promote the use of electric vehicles, plans to invest $200 million in Zero Emission Vehicle infrastructure primarily in California.

The investment, which will start next summer and take 30 months to complete, will follow a plan outlined originally by the California Air Resources Board to raise awareness of electric-charging capacity.

Plug In!

Electrify America was established to implement the $2 billion ZEV Investment Commitment outlined in Volkswagen’s court-approved settlement involving 2.0-liter TDI diesel vehicles. (more…)

Tesla Losing Top Executives as Uncertainty Sets In

Four top leaders have departed in last month.

by on Sep.21, 2018

Four of Tesla's top executives have departed the company during the last four to six weeks.

Tesla’s been hit by wave after wave of difficult news, situations and investigations, apparently causing some executives to rethink the viability of the company.

Liam O’Connor, Tesla’s vice president of global supply management, is the latest of a group of executives to depart the company. He joined Tesla in 2015 after a four-year run with Apple, Bloomberg reports an unnamed insider said O’Connor is leaving the company within the next several weeks.

Subscribe Now!

His departure marks at least the fourth executive to leave California-based EV maker within the last month. Justin McAnear, vice president of worldwide finance and operation; Gabrielle Toledano, human resources chief; and Dave Morton, chief accounting officer, have also put in their notices. In all, more than 40 executives have reportedly left Tesla in 2018 alone, the news service reports. (more…)

Daimler Invests Millions in Electric Busmaker Proterra

U.S.-based company expands Daimler's battery-electric capabilities.

by on Sep.20, 2018

Daimler Truck has invested millions in California-based electric busmaker Proterra to help with its battery-electric development.

Daimler Trucks & Buses agreed to put up part of a $155 million investment in an electric bus company founded and based in the United States.

Proterra Inc., with offices in California’s Silicon Valley, South Carolina and Los Angeles, announced it closed a $155 million investment round co-led by Daimler, the world’s largest manufacturer of commercial vehicles, and Tao Capital Partners.

Tech Talk!

Martin Daum, member of the Board of Management of Daimler AG with responsibility for Daimler Trucks & Buses, noted Proterra has emerged as a leader in the electric-bus business with more than 90 customers across the United States. (more…)

Lucid Secures $1 Billion Investment from Saudis

PIF looking for a hedge as it expands the value of the fund.

by on Sep.17, 2018

Lucid executives were on the hunt for additional investors, and struck a $1 billion with the Saudis.

After being seen as the key to Tesla CEO Elon Musk’s now-dead plans to take the EV maker private, Saudi Arabia’s sovereign wealth fund is now investing $1 billion into EV start up Lucid Motors.

The new pact gives Lucid the cash it needs to kick off production of its first-ever model, the Air, in 2020, at its plant in Arizona. Lucid officials have said the new model will cost about $60,000.

News Now!

It’s widely believed the Saudis have been searching for ways to hedge against its oil exports for some time now, explaining the earlier dalliance with Tesla and Musk. The two sides had talks about the fund backing Musk’s plan, which could have required more than $40 billion from the Saudis. (more…)

Volvo Backs Out of IPO Due to Trade and Market Conditions

Trump's ongoing tensions with China and Europe push decision.

by on Sep.10, 2018

Volvo Chief Executive Hakan Samuelsson said that trade tensions between the U.S. and China as well as the EU were one reason to halt its IPO.

President Donald Trump’s seemingly ongoing trade war with, well, everyone as well as a less-than-robust period for auto stocks has forced Volvo Cars to put off its initial public offering — for now, anyway.

Volvo Cars, which is owned by China-based Geely, previously announced it was considering the IPO to help raise funds for additional research and expanding of production. However, the current trade tensions between the U.S. and China as well as the European Union has forced a rethink.

News Now!

“We’ve come to the conclusion that the timing is not optimal for an IPO right now,” Volvo Chief Executive Hakan Samuelsson told Reuters by telephone on Monday.  (more…)

Musk Laments “Excruciating” Toll He’s Faced at Tesla

But no plans to give up post as CEO.

by on Aug.17, 2018

Tesla CEO Elon Musk revealed that he feels like this has been the toughest year of his life.

Forget the amusement park. Anyone who wants to ride a roller-coaster might be better off purchasing Tesla stock. But no one has faced more ups-and-downs during the last year than the automaker’s co-founder and CEO Elon Musk.

Even as Tesla appears to be resolving its production problems and seems poised to deliver a long-promised profit, the automaker and its CEO are facing a probe by the SEC, lawsuits filed by several short-sellers, additional investigations by the NLRB, NHTSA and the NTSB, and allegations of safety and quality problems by several self-styled whistleblowers.

Subscribe Now!

No wonder, “This past year has been the most difficult and painful year of my career,” Musk said in an interview newly published by the New York Times. “It was excruciating.” (more…)

Chinese EV Maker Nio Eyes $1.8B IPO on NYSE

EV maker joins other Chinese automakers on exchange.

by on Aug.16, 2018

Chinese EV maker Nio is preparing its $1.8 billion IPO for the New York Stock Exchange.

A Chinese electric vehicle start-up, Nio, which is backed by one of China’s largest technology companies, is preparing for a $1.8 billion initial public offering of its American depositary.

It represents the biggest U.S. listing by a Chinese automaker, according to reports from China.

We Keep You Plugged In!

Nio is backed by Tencent Holdings Ltd, a company with holdings the internet, technology and gaming as well as other ventures, including the emerging automotive-oriented mobility industry, has is seeking a float of up to $1.8 billion, according to its filing with the Securities and Exchange Commission. It will go public on the New York Stock Exchange under the symbol “NIO.”  (more…)

monaliza.kiev.ua

www.sledoc.com.ua

surrogacycmc.com