Tag: auto

Uber CEO Talking About Tesla using Camera Vision over LiDAR

Uber CEO on Tesla using Camera Vision over LiDAR: “I think in the near-term it’s going to be very difficult, and

Elon Musk would tell me I’m wrong, and never bet against him, but it’s my instinct — in the near-term it’s going to be very difficult to build a camera only product that has superhuman level of safety. Will it be possible? Quite possibly yes. If you can have instrumentations that include cameras and LiDAR ; the cost of Solid State LiDAR is only $400-$500— WHY NOT include LiDAR as well in order to achieve superhuman safety. So, possible? Yeah it will be — I don’t know when, but is possible the better product? I’m not sure. All of your partners right now are using a combination of camera, Radar and LiDAR, and I personally think that’s the right solution— but I could be proven wrong.”

Full conversation on X here.

NIO’s First Mass Market Brand Coming in September and 10% Cheaper than Tesla!

NIO plans to start selling the first model under a mass-market brand as early as September, according to founder and chief executive William Li. The production cost for these new electric vehicle models would be 10% less than that of Tesla’s Model Y. Li told investors on Tuesday that this would give NIO “better flexibility” in pricing its first model, codenamed Alps, which will feature battery-swapping technology. This advantage is due to China’s well-developed EV supply chain and NIO’s extensive research and development efforts over the years.

Li suggested that the luxury EV manufacturer might adopt a more aggressive pricing strategy to compete with rivals in the segment. The new brand will primarily target Chinese families and prioritize volume sales, while NIO’s original brand will continue to focus on gross margin.

In 2023, the net loss of the Shanghai-based company increased to RMB 20.7 billion ($2.9 billion) from RMB 14.4 billion the previous year, while its revenue grew by approximately 12.9%. NIO’s stock ended the day at $5.48, a 2.8% increase.

VinFast Investing in India with a new $2 billion EV Plan

VinFast, the electric vehicle manufacturer from Vietnam, has announced its plans to invest an initial $500 million to establish an integrated facility in India and enter the world’s third-largest automobile market.

Through a memorandum of understanding with the state government of Tamil Nadu, VinFast intends to invest up to $2 billion, although no specific timeframe has been provided.

Construction of the facility in Thoothukudi, with a potential annual capacity of 150,000 units, is expected to begin this year. This project is projected to create 3,000-3,500 job opportunities.

Farizon has Raised $600 million to Expand its Truck Unit Outside of Mainland China

Farizon Auto, the truck unit of Chinese automaker Geely, has raised $600 million in a Series A funding round led by Geely Holding Group. The funding will be used to support Farizon’s expansion outside of China.

Farizon Auto was founded in 2021 and is headquartered in Hangzhou, China. The company develops, manufactures, and sells commercial vehicles, including trucks, buses, and vans. Farizon’s products are currently sold in China, and the company plans to expand to other countries in Asia, Europe, and South America in the coming years.

The $600 million funding round was led by Geely Holding Group, which is the parent company of Geely Auto. Other investors in the round include CMB International Capital, Hillhouse Capital, and Sequoia Capital China.

Farizon Auto’s CEO, An Conghui, said that the funding will help the company “accelerate its global expansion and become a leading player in the commercial vehicle market.”

The global commercial vehicle market is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2027. This growth is being driven by the increasing demand for commercial vehicles in emerging markets such as China, India, and Southeast Asia.

Li Auto Not Planning to Expand Overseas Before 2025

Li Auto CEO Li Xiang has confirmed that the company has no plans to expand overseas by 2025. In an interview with TechNode, Li said that the company is focused on consolidating its position in the Chinese market before expanding to other countries.

Li Auto is a Chinese electric vehicle maker that was founded in 2015. The company’s first model, the Li One, was launched in 2019. The Li One is a hybrid SUV that combines an electric motor with a gasoline engine. The Li One has been a success in China, with the company selling over 100,000 units in 2022.

Li Xiang said that Li Auto is not currently considering expanding to overseas markets because the company wants to focus on improving its products and services for the Chinese market. He said that the company is also concerned about the challenges of expanding to other countries, such as different regulations and infrastructure.

However, Li Xiang did not rule out the possibility of Li Auto expanding overseas in the future. He said that the company will “continue to monitor the global market” and “make decisions based on the best interests of the company.”

Deezer Relaunches Their Automotive App – Listen to Your Music on the Go!

Deezer, the global music streaming platform, today announced the launch of its new automotive app. The app is available in cars with Google built-in and cars with the automotive app store Faurecia Aptoide.

The Deezer automotive app offers a number of features designed to make it easy for drivers and passengers to enjoy their music while on the go. These features include:

  • A personalized Flow of recommendations based on the user’s listening history and preferences.
  • The ability to create and save custom playlists.
  • Voice control so that drivers can keep their eyes on the road and hands on the wheel.
  • The ability to stream music in high quality.

The Deezer automotive app is available now in select markets. To learn more, please visit the Deezer website.

Here’s a more detailed explanation of some of the features of the Deezer automotive app:

  • Personalized Flow: The Personalized Flow is a never-ending mix of music that is tailored to the user’s listening history and preferences. The Flow is updated regularly with new music, so users are always discovering new songs and artists.
  • Custom playlists: Users can create and save custom playlists of their favorite music. This makes it easy to listen to specific genres, moods, or artists.
  • Voice control: The Deezer automotive app can be controlled by voice. This means that drivers can keep their eyes on the road and hands on the wheel while still enjoying their music.
  • High quality streaming: The Deezer automotive app streams music in high quality. This means that users can enjoy their music in the best possible sound quality.

The Deezer automotive app is a great way for drivers and passengers to enjoy their music on the go. The app offers a number of features that make it easy to find and listen to the music you love.

Uber and Yandex Spin Out Russian self-driving car subsidiary into its own entity

Uber and Yandex will be spinning off their self-driving car subsidiary into its own entity – MLU BV.

MLU BV will have $150 million in new capital from Yandex, including $100 million in equity and $50 million as a convertible loan.

In connection with the deal, Yandex will hold 61.7% of MLU and Uber will own 33.5%. Bloomberg reported in June that Yandex had been looking to buy all of Uber’s initial 38% stake as an alternative to taking the taxi business public. Uber merged its Russian operations with Moscow-based Yandex in 2017.

Reserve Your Cybertruck Now Live in China on Tesla Website

Tesla Cybertruck orders in China.

Tesla is now officially taking Cybertruck orders in China. You can head to the Tesla website to reserve your Cybertruck.

The Cybertruck has such a unique design I’m sure there will be a lot of upper class Chinese who would love to be driving around in such a car. Really makes a statement.

In what ways is Google Waymo a threat to Tesla and its Self Driving Technology?

Waymo at present has a private valuation that is twice as high as Tesla.

How can this be?

Margins! Tesla is focused on the full production of the car where Waymo is focused purely on the underlying technology with self driving cars. Thus, Waymo will have a Gross Margin that is extremely high in comparison to Tesla.

Eric Schmidt talked about this a lot. How Google and its products always wanted to be focused on providing the technology sub stack instead of the full product as it keeps margins at a high level and thus maximising value.