Little-known self-driving startup raises $1 billion from Nvidia, Microsoft, SoftBank
Wayve is a UK startup with an AI-focused approach to solving autonomy for cars. It’s akin to a vehicular version of ChatGPT.
Lucid reports Q1 net loss of $685 million and revenue of $173 million as cash burn continues
Lucid’s net loss was an improvement over the $780 million loss in the first quarter of 2023, but the company’s stock price sank 7.5 percent in after-hours trading Monday to $2.82 per share.
Mercedes dealership sued for allegedly not revealing used car had flood damage
A customer has accused a South Carolina dealership group of fraud, negligence, breach of contract and a consumer protection law violation for failing to disclose the used 2018 Mercedes-Benz E300 she bought had flood damage.
Tesla lays off more staff in software, service teams
Electric-vehicle maker Tesla has launched another round of layoffs including staff from the software, service and engineering departments, Electrek reported Monday, citing emails and sources familiar with the matter.
Openlane Q1 earnings: Net income rises 46%; revenue down 1%
Openlane said wholesale used-vehicle sales facilitated through its online marketplace rose 13 percent in the first quarter.