Jamie L. LaReau Detroit Free Press Published 12:50 PM EDT May 7, 2019 At a time when the auto industry is tamping down expectations for fully self-driving cars, outside investors remain believers and their cash bets signal that the deployment of a fleet of autonomous cars is approaching, analysts say. General Motors' self-driving unit, Cruise, said Tuesday it has secured a new equity investment of $1.15 billion from a group of institutional investors. It brings the total investment in Cruise by outside investors to about $7.25 billion to date. Based on investors' equity shares, it increases Cruise’s total valuation to $19 billion. This latest group of investors is comprised of funds and accounts advised by T. Rowe Price Associates, plus Cruise's existing partners GM, SoftBank Vision Fund and Honda. “Developing and deploying self-driving vehicles at massive scale is the engineering challenge of our … [Read more...] about General Motors’ self-driving car company, Cruise, worth $19B
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Written by Justin Jurgens on April 29, 2019 in Jaguar, On the Market, SS with 0 Comments Here at British Sports Cars, we are huge fans of the early Jaguars, especially any of them made by SS Car Company Ltd. We have been buying, selling, and restoring all classic Jaguars for many years but have taken a keen interest in SS cars for our personal collection. When it comes to the SS brand, we buy everything from parts to complete cars in any condition. Here are the specific models we are currently looking to purchase: Austin Swallow SS1 SS1 Tourer SS1 Saloon SS1 Coupe SS1 Airline Saloon SS2 SS2 Tourer SS2 Saloon SS2 Coupe SS90 SS100 Jaguar SS Jaguar 1 1/2 Saloon SS Jaguar 2 1/2 Saloon SS Jaguar 3 1/2 Saloon SS Jaguar 2 1/2 Drophead Coupe SS Jaguar 3 1/2 Drophead Coupe So, if you have a line on SS cars or parts, drop us a line. We’d love to hear from you! Click here to check out our blog post featuring a 1938 SS100 Jaguar, complete with photos and … [Read more...] about WANTED: SS Car Company, Ltd. Cars & Parts
What started with books has reached the budding self-driving car sector. Amazon has invested in self-driving car company Aurora Innovation, the self-driving technology firm announced last Thursday. The actual figure it had received from Amazon wasn't disclosed in Aurora's announcement, but in total, the company raised $530 million in the latest round of investment. Other investors included the venture capital firm Sequoia and the investment branch of Shell. Amazon told CNBC in a Thursday report its investment comes as it continues to seek out "innovative, customer-obsessed companies." The online shopping and tech giant said autonomous cars have the ability to transform jobs and make employees safer and more productive. Amazon is likely keen to invest in the technology due to its massive delivery costs. In 2018, the company spent $27 billion, according to the report delivering packages. Self-driving delivery vehicles would slice the costs by a wide margin, mostly by eliminating … [Read more...] about Amazon invests in self-driving car company Aurora Innovation
Terrafugia is that flying car company you read about every sixth months or so that continually disappoints you by remaining Just A Thing On The Internet, and not actually a thing in the real world. But now, in a strange turn of events, The South China Morning Post says Volvo’s parent company Geely has bought the flying car company. I have no clue why. China’s Zhejiang Geely Holding Group Co. has been getting its automotive-imperialism on lately, buying Volvo back in 2010, then more recently buying a large chunk of Proton, and a 51 percent majority share of Lotus. Now, according to a source at the South China Morning Post, the Hangzhou, China-based company has acquired Terrafugia, a startup founded by MIT aerospace engineers and MBA students. The flying car company’s mission is to “create practical flying cars that enable a new dimension of personal freedom,” and ever since its founding in 2006, the world has been hearing rumors that flying cars would … [Read more...] about Volvo’s Geely Bafflingly Buys Flying Car Company Terrafugia: Report
Dean Shaw, Volvo Cars USA’s handsomely bespectacled VP of corporate comms, bellows the word to a ballroom full of sleepy-eyed car journalists—conceivably to both wake them up and emphasize what the morning’s lecture would focus on: “Electrification!” (Full Disclosure and Editor’s Note: In July 2017 (yes, 2017) I asked Deadspin video god Tim Burke if he wanted to handle a Volvo press drive for us in Denver, because he’s a not-so-secret car guy and was interested in buying a V90 wagon at some point. He then promptly never turned in a story, leading to some uncomfortable emails and phone calls between me and Volvo. Our relationship has since recovered somewhat. Now, at long last, on Burke’s last day before he takes a buyout, here is his much awaited story on the future of the Volvo lineup. It is all presumably current as of last year. Also, it should be noted Volvo flew Burke to Denver, fed him, gave him cocktails, and put him up in the … [Read more...] about What Kind Of Car Company Does Volvo Want To Be?