Online used vehicle retailer Shift Technologies cut its workforce by 30% in the first quarter as the company sought to reduce costs and eliminate duplicate positions following its merger with CarLotz, CEO Jeff Clementz said during an earnings call. The layoffs came as the company saw its revenue plummet in the fourth quarter and its […]
UPDATE: Tesla tweaks Model 3 page of U.S. website encouraging buyers to take delivery now in anticipation of reduced tax incentives by March 31. The U.S. Treasury Department’s guidance on battery sourcing requirements for the electric vehicle tax credits will result in fewer vehicles being eligible for full or partial credits, reports Reuters, citing an unnamed […]
Lyft might once again drop its shared rides offering, just one of several changes the company’s newly appointed CEO could make in a bid to focus on its core ride-hailing business and become profitable. David Risher, who is taking over as Lyft’s CEO in mid-April, told TechCrunch in a wide-ranging interview that other features may […]
When Stellantis brand Jeep descended on Moab, Utah this week for its annual off-roading and concept roadshow, electrification ruled the road. The automaker showed off this week seven concepts — four of which are electrified — from the Jeep brand and Jeep Performance Parts (JPP) by Mopar ahead of the Easter Jeep Safari, an annual […]
Kia revealed Tuesday the next EV in its portfolio, a three-row flagship SUV called the EV9 that is packed with tech and a key product in the company’s mission to reach annual sales of 1.2 million battery electric vehicles by 2030. The South Korean automaker didn’t disclose pricing, but it did provide numerous details on […]
It’s 2023, and we’re years past the peak of monster fundraising for on-demand transportation and delivery startups locked in highly competitive races with each other to dominate urban consumer mobility. But with many of the biggest and most tenacious players still in the market, those rounds have not disappeared altogether. Today, Cabify, a Madrid-based platform that […]
We are still likely many years away from wide-scale deployment, let alone adoption, of fully autonomous vehicles on our streets, but in the meantime, autonomous vehicle companies focusing on closed-campus environments continue to raise funding and make headway in building self-driving on a smaller scale. In the latest, a startup called Venti Technologies has raised […]
UPDATE: This article has been updated with compensation package information for Green, Zimmer and Risher. Lyft co-founders, CEO Logan Green and president John Zimmer, are stepping down from their roles by mid-April, the company said Wednesday. They will serve as chair and vice chair of Lyft’s board, respectively. David Risher, a former retail executive at […]
Tesla is bringing back its referral program to Europe, a strategy that taps into the brand loyalty of customers as it seeks to preserve market share and boost sales before the first quarter of 2023 closes. The referral program follows Tesla’s move to reduce prices in a variety of markets, including Europe, China and North […]
Lucid Group issued a recall for hundreds of Air sedans over a flaw that could cause the vehicles to lose power and increase the risk of a crash, according to a filing with the National Highway Traffic Safety Administration. The Newark, California-based automaker first filed a recall notice with NHTSA in February for 273 model […]