Baidu kicks off its robotaxi business, after getting the OK to charge fees in Beijing

BEIJING — Baidu can start collecting robotaxi fares in a part of Beijing from Thursday, the Chinese tech giant told CNBC this week, marking a major step toward building its driverless taxi business. The regulatory approval to support robotaxis in China comes as local governments in the U.S. have been progressing in a similar direction. … Read more

5 things to know before the stock market opens Wednesday

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street looks steady after more retail earnings, near-record closes Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2021 in New York City. Spencer Platt | Getty Images U.S. stock … Read more

Backblaze takes opposite IPO route to Rivian, going public on small valuation and minimal funding

Gleb Budman, co-founder and CEO of Backblaze, center, appears in New York for the company’s Nasdaq debut on Nov. 11, 2021. Source: Backblaze Electric-vehicle maker Rivian Automotive, which has almost no revenue, dominated the headlines this week after raising close to $12 billion in its IPO and then watching its market cap swell past $105 … Read more

Goldman and VW-backed Northvolt produces battery cell with recycled nickel, manganese and cobalt

Krisztian Bocsi | Bloomberg Creative Photos | Getty Images Swedish battery firm Northvolt said Friday it had produced its first battery cell with what it described as “100% recycled nickel, manganese and cobalt.” In a statement, the Stockholm-headquartered company — which has attracted investment from Goldman Sachs and Volkswagen, among others — said the lithium-ion … Read more

Shares of EV start-up Rivian spike on second day of trading, market cap surpasses GM

Rivian R1T Field pickup Source: Rivian Shares of the electric vehicle start-up Rivian continued to climb Thursday, up more than 18%, one day after its public market debut. The Amazon– and Ford-backed company already surpassed both Ford and General Motors by market cap, reaching a valuation of more than $101 billion. That’s still far behind … Read more

Rivian prices IPO at $78 a share, valuing electric vehicle company at $66.5 billion

R.J. Scaringe, Rivian’s 35-year-old CEO, introduces his company’s R1T all-electric pickup and all-electric R1S SUV at Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Rivian Automotive, the electric vehicle maker backed by Amazon and Ford, priced its IPO on Tuesday at $78 a share, according to a person … Read more

GM-backed Cruise seeks final approval to commercialize robotaxis in San Francisco

Cruise Origin driverless shuttle Cruise General Motors-backed Cruise is seeking final approval from California to begin commercializing its robotaxi fleet in San Francisco. The self-driving car start-up said Friday it submitted a permit for an autonomous vehicle deployment with the California Public Utilities Commission. It is the last of six permits needed from the CPCU … Read more

Rivian raises IPO price range and could now be worth up to $65 billion

RJ Scaringe, founder and chief executive officer of Rivian Automotive Inc., unveils the R1T electric pickup truck, left, and R1S electric sports utility vehicle (SUV) during a reveal event at AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California. Bloomberg | Bloomberg | Getty Images Electric vehicle start-up Rivian Automotive raised … Read more

Ford is set to report results after the bell. Here’s what Wall Street expects

The badge of a Ford Motor Co. E-Transit electric vehicle during a presentation in Washington, D.C., U.S., on Wednesday, July 28, 2021. Al Drago | Bloomberg | Getty Images DETROIT – Ford Motor is announcing third-quarter earnings after the markets close Wednesday. Here’s what Wall Street expects, based on average analysts’ estimates compiled by Refinitiv. … Read more

GM earnings are out – Here are the numbers

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors announced its third-quarter earnings before the markets open Wednesday. Here are the numbers: Adjusted earnings: $1.52 a share vs. 96 cents a share estimate, according to Refinitiv Revenue: … Read more