Micromobility giant Bird has lost nearly $100 million while revenue shrank to $15 million in Q1 of 2019, according to The Information article. The company had only $100 million left in cash, after raising more than $700 million over a…
Ford and Volkswagen have announced that they will partner up on the development of electric and self-driving cars. The partnership aims to cut development and manufacturing costs. VW said it would invest $3.1 billion in Ford’s Argo Ai self-driving unit,…
Tesla has held a presentation on its progress towards self-driving cars and in the process has unveiled its Robotaxi plan for a self-driving ride-sharing network with Tesla electric cars to be activated as soon as the next year through an…
Ride-hailing giant Uber has launched its much anticipated initial public offering filing. It has submitted the official S-1 form, revealing a lot of information about workings of the company. The CEO has written a letter to potential investors noting many…
Volkswagen has launched an all-inclusive car subscription service in the UK. The pilot program includes three vehicles — Golf, Passat and Tiguan, for a monthly fee covering servicing, maintenance, road tax, and insurance. VW has partnered with the Drover platform for the…
Car rental company Sixt announced that it has more than doubled its annual profits in 2018, reaching €439m on sales of €2.9bn. The company says it is the fifth record year in a row. The growth of profits was stimulated…
American ride-hailing company Lyft has filed for Initial Public Offering, after months of speculation. The official filing form lists $100 million for the offering, putting the company value around $25–30 billion. Lyft is the first ride-hailing company to go public…
The number of car-sharing users in Germany increased by 350,000, reaching 2.46 million in 2018, according to the car-sharing association of Germany — Bundesverband Carsharing. According to the association, there were 20,200 shared vehicles in the country — a 12% year-on-year increase. The free-floating…
Hyundai is considering own car sharing service for its electric models. So far the company has worked with ride-sharing companies, such as Uber, providing them with fleets. The South Korean automaker started a pilot car-sharing program in Amsterdam in 2017…
Apple has dismissed 200 employees working in its self-driving car unit, some of the employees have been reassigned to work more broadly on artificial intelligence and machine learning. It looks like the iPhone-maker is shifting its focus to general AI…