Electric scooter company Bird announced on Wednesday that it is in the process of merging with blank-check company Switchback II Corporation in an effort to go public. The deal is expected to cost the shared electric scooter mobility startup $2.3 billion.
In order to help fund the deal, Bird announced...
Ford Motor Co announced on Tuesday that it will now require all US-based employees to submit their vaccination status against COVID-19. With a deadline of October 8th, this requirement is mandatory for both salaried and hourly employees.
The company has decided to take a stricter approach to health guidelines after...
The Ohio-based Lordstown Motors Corp. officially announced the resignation of two members of its executive leadership team on Monday. Both Chief Executive Officer Steve Burns and Chief Financial Officer Julio Rodriguez decided to depart from their roles with immediate effect.
Prior to the revelation of Burns and Rodriguez's departures, the...
Rivian Automotive lost nearly $1 billion in the first half of the year, as was disclosed by the company's IPO filing as shown on Friday. The electric vehicle maker, which is backed by both Amazon.com Inc and Ford, has engaged in an aggressive production strategy, ramping up manufacturing...
Volvo Car Group announced on Monday that they've entered into a joint venture with Swedish battery maker Northvolt for the development of sustainable batteries that will be installed in its electric vehicles. As a result of this deal, Northvolt will become Volvo's exclusive battery cell production partner in Europe.
This...
EV maker Tesla Inc revealed on Saturday its electric vehicle delivery figures for the third financial quarter, significantly exceeding experts' estimates. As Elon Musk urged staff to "go super hardcore" in their Q3 sales push, Tesla deliveries surged by 20% in the period of July to September, thus marking...
BMW emphasized its concern regarding the ongoing global chip shortage recently, explaining that the excessively low supply could result in further lost production within the car industry. The German automaker also mentioned that there is little likelihood that supply will increase in the later stages of 2021.
As a result...
Russian tech giant Yandex is moving to acquire the Israeli e-scooter ride-sharing company Wind, thereby expanding its portfolio in the country. Yandex announced last week that the deal is expected to be concluded by the end of the week. The specific terms of the deal remain undisclosed.
Currently, Wind operates...
Vehicle-for-hire company Didi Global Inc. experienced a 7% decline on the New York Stock Exchange on Friday following a Chinese government decision to launch a cybersecurity review of the company. As a result, Didi, which only started trading publicly on Wednesday, fell to a value of $15.26 per share.
The...
Volvo Car AB is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm IPO, making it the largest in Europe since January. This comes as the Swedish vehicle manufacturer looks to make headway into the electric vehicle sector.
The company revealed in a statement on Monday that it's...