Venture capitalists on auto, mobility tech startups
Auto and mobility tech startups are phenomenal at innovating but terrible at scaling up their operations, according to one venture capitalist.
LG Chem to invest $3.2B to build battery cathode plant in Tenn.
LG Chem is expected to supply cathode materials to Ultium Cells, a battery joint venture between General Motors and LG Chem’s subsidiary LG Energy Solution.
Tesla stock drop is accelerating
The rout in Tesla shares is accelerating as a recall and signs of China’s return to Covid Zero curbs adds to a litany of investor concerns, with Chief Executive Officer Elon Musk focused on turning Twitter around.
Amazon backed out of taking a stake in Argo. Then the self-driving startup folded
The online retailer was prepared to invest several hundred million dollars into Argo last spring, sources told Bloomberg. Amazon planned to use Argo’s self-driving technology to automate some of the electric delivery vans.
Toyota dials down December output plan after slashing annual target by 500K vehicles
Toyota expects to make only 700,000 vehicles worldwide next month, including 250,000 in Japan and 500,000 overseas.