Uber and Lyft will have to increase the minimum pay rates for drivers in New York City by the end of the year, Engadget reports. The fare increase comes amid a driver shortage post-pandemic, in large part due to rising operational costs. The city’s Taxi and Limousine Commission (TLC) voted to increase the per-minute rates […]
Battery materials and recycling startup Redwood Materials has landed a multi-billion-dollar deal to supply critical battery components to Panasonic as efforts accelerate to build a domestic supply chain in North America to support the coming influx of EVs. Redwood said Tuesday it will supply Panasonic Energy of North America with cathode material for battery cells […]
BasiGo will begin assembling electric buses in Kenya from next month, ramping up its production of public transport vehicles (PSVs) as it targets to deliver 100 units by end of next year. The startup plans to deliver 15 of the 100 buses, manufactured using parts from China’s EV maker BYD Automotive, in January next year, […]
Helbiz’s third quarter earnings show a company that’s burning cash, not making revenue gains and losing riders year over year. However, Helbiz’s burgeoning sports streaming service did realize some small gains. The micromobility SPAC reported its Q3 earnings Monday, the same day as its only public market competitor, Bird. Neither company is performing well operationally […]
Just hours after Bird said it had overstated revenue for more than two years by recognizing unpaid customer rides, Bird dropped a growing concern warning. In a regulatory filing, the company said it might “need to scale back or discontinue certain or all of its operations in order to reduce costs or seek bankruptcy protection.” […]
It’s been six months since Uber hosted Go, Get, a global smorgasbord of product reveals and features that covered everything from booking party buses and voice ordering for Uber Eats to linking travel plans to Gmail and skipping the food lines at sports stadiums. The product reveals aren’t just about creating new revenue streams or […]
Moribund EV startup Faraday Future could receive up to a $350 million lifeline to help launch its first vehicle, according to a regulatory filing. The company said Monday it has signed a deal with an affiliate of Yorkville Advisors Global for an equity line of credit up to $350 million. The financing, which entails an […]
Micromobility company Bird said Monday it had overstated its revenue for more than two years by recognizing unpaid customer rides. Bird’s audit committee found on Friday that the company’s financial reports spanning the first quarter of 2020 through the second quarter of 2022 “should no longer be relied upon,” according to a U.S. Securities and […]
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Rad Power Bikes, the U.S.-based e-bike manufacturer, has made its mark as a direct-to-consumer business selling fat tire bikes that helped shape the COVID e-bike boom. In 2021, the company raised two massive rounds – $150 million in February 2021 and another $154 million just eight months later – that brought its total funding above […]
