Ouster, a lidar company that went public this year via a SPAC merger, said it would acquire solid-state lidar startup Sense Photonics in an all-stock deal that was valued at around $68 million at close of markets on Monday. Once the acquisition is complete, Ouster said it would establish a new business arm, Ouster Automotive, […]
GM builds new center to unlock cheaper, longer range batteries
General Motors is building a new facility at its Warren, Michigan campus aimed at unlocking breakthrough cell technology that will drive down the cost of batteries while improving their range. The automaker said Tuesday that the initial phase of the Wallace Battery Cell Innovation Center, which will be about 300,000 square feet and located on […]
The 2022 Ford Maverick is a compact truck light on capability and chock full of potential
The Ford F-series pickup is America’s truck. At least, that’s what the numbers tell us. It’s been America’s top-selling vehicle for close to half a century. While the Chevrolet Silverado and Ram’s series of pickups are worthy competitors, Ford still sells tens of thousands more units than either one. If you spend any time with […]
NHTSA rejects petition for formal investigation into Tesla’s battery management software
The National Highway Traffic and Safety Administration rejected a 2019 petition requesting the agency open a formal investigation into Tesla’s battery management software over allegations that an over-the-air update was defective and caused fires in five vehicles. The agency decided not to open a formal investigation in part because the majority of those incidents occurred […]
Qualcomm acquires Veoneer for $4.5 billion, canceling its agreement with Magna
Qualcomm scored the purchase of Swedish automotive tech company Veoneer, nudging out Magna International with a higher bid. Qualcomm and investment group SSW Partners said Monday they would acquire Veoneer for $37 per share in an all-cash transaction. At closing, SSW said it would sell Veoneer’s Arriver tech — an advanced driver assistance system stack […]
Geely’s Volvo Cars will file for initial public offering on Stockholm’s Nasdaq
Volvo Cars, the Swedish carmaker owned by China’s Zhejiang Geely Holding, said Monday it would file for an initial public offering and list on the Nasdaq Stockholm exchange, in a transaction that’s expected to raise up to $2.9 billion (25 billion Swedish kroner). The deal could value the automaker at up to $25 billion, The […]
The Station: Inside the Rivian R1T and its IPO filing
Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Welp, it was an EV heavy week, starting with the Polestar SPAC and ending with the Rivian IPO filing (curses to the late Friday regulatory filing). Oh, and […]
Tesla delivers record-breaking number of vehicles in third quarter
Tesla delivered a record-breaking 241,300 electric vehicles in the third quarter, blowing past expectations as other U.S. automakers experienced a drop in sales as the result of a global chip shortage. The vast majority of Tesla deliveries (some 96%) were its newer Model 3 sedan and Model Y crossover, according to its report released Saturday. […]
7 takeaways from Rivian’s IPO filing
Rivian, the electric automaker backed by Amazon, Ford and a cornucopia of heavy-hitting institutional investors like T. Rowe Price Associates and Coatue, finally made its once-confidential IPO filing public. The company, which started in 2009 as Mainstream Motors before adopting the Rivian name two years later, has exploded in terms of people, backers and partners […]
Rivian’s IPO filing is now public
Electric vehicle startup Rivian, which started deliveries of its R1T pickup truck in September, released its filing to become a publicly traded company in the United States. The S-1 document filed Friday with the U.S. Securities and Exchange Commission does not include terms for its offering. The filing — one of the most anticipated of […]