Rivian raises another $2.65 billion in funding as EV nears June launch
Rivian announced another $2.65 billion in funding Tuesday, as the electric truck manufacturer gears up for its June launch. The latest investment round, led by T. Rowe Price, brings the total to $8 billion raised by Plymouth, Mich.-based Rivian since 2019, an upfront bet that the startup company will find a broad market for its electric truck, SUV and commercial vehicles. Amazon, which has ordered 100,000 custom delivery vans from Rivian, is among the existing investors participating in the new funding round. “This is a critical year for us as we are launching the R1T, the R1S and the Amazon c...
From Citroën to Dodge, meet the Stellantis family of vehicles
This weekend, the trans-Atlantic merger of Fiat Chrysler Automobiles NV and Groupe PSA of France will cement an industry-leading 14 brands under one roof, eclipsing Volkswagen AG's 12. But don't expect to see a Peugeot 5008 or Citroën C4 in American showrooms anytime soon. Or Ram pickup trucks and Dodge Hellcats prowling the streets of Paris. Industry analysts say the merger will continue to accelerate the globalization of Jeep, which FCA has transformed into one of the world's most recognizable SUV brands. But otherwise, the merger positions Stellantis to have strong product lineups on two co...
The Detroit News
Microsoft exploring opening a new office in downtown Miami, sources say
Microsoft is considering opening an office in Miami's business core. According to multiple sources who declined to be named, Microsoft is reviewing at least two Class A options for a new Magic City footprint: one, at the still-under-construction 830 Brickell, and the other at 801 Brickell office tower. All sources cited the sensitive nature of ongoing discussions as the reason for reticence. This story is a subscriber exclusive Microsoft already has a physical presence and staff in South Florida, including a Latin America group in Fort Lauderdale. The purpose of a new office — or its size — we...
Until Capitol riot, Amazon expressed scant concern about violent content on Parler, social network says
SEATTLE — In the weeks leading up to the Jan. 6 insurrection at the U.S. Capitol, Amazon seemed excited by Parler’s growth and discussed expanding its business relationship with the conservative Twitter competitor, Parler said Wednesday. In a court filing, Parler said that communication with Amazon continued as Parler prepared for the possibility that President Donald Trump could join the social network, bringing millions of new users with him. The claims complicate Amazon’s portrayal of the events leading up to the Seattle tech giant’s suspension of Parler’s cloud service account Sunday. Amaz...
The Seattle Times
Nuclear fusion group calls for building a pilot plant by the 2040s
The main criticism about nuclear fusion has been that its vast potential as a commercial source of energy has always been just out of reach. But a group of the nation's top fusion scientists and researchers just issued a report to the Department of Energy that calls for the U.S. to build a fusion pilot plant by the 2040s. The 80-page report, written by the Fusion Energy Sciences Advisory Committee, was two years in the making. "What really emerged strongly from this is a real sense that the fusion energy science portfolio should really pivot towards an energy mission and the realization of tha...
The San Diego Union-Tribune
Ford's 'pivotal' deal with Mahindra goes kaput, adding twist to financials
A cost-cutting deal called "pivotal" by Ford in 2019 has gone kaput, the automaker announced just after the stock market closed on New Year's Eve. It was a quiet but dramatic turn of events for Ford that potentially carries financial consequences in 2021 and throws into question Ford operations in India. Ford loses money in all markets in the world except North America. The Dearborn, Mich., automaker and powerhouse vehicle maker Mahindra & Mahindra have "mutually and amicably determined they will not complete a previously announced automotive joint venture between their respective companies." ...
Detroit Free Press
Stellantis gets shareholder blessing; Fiat Chrysler, PSA merger could be complete in weeks
Shareholders gave their blessing Monday to the planned merger of Fiat Chrysler Automobiles and France's PSA Group. The backing of shareholders, although not a surprise, moves the process to create Stellantis, which would be the world's fourth-largest automaker, much closer to the finish line. The companies announced Monday they've received key regulatory approvals in Europe and now aim to complete the merger Jan. 16. Previously, they indicated it would happen by the end of the quarter. FCA board chair John Elkann, who is slated to become chair of the new company, hosted the meeting of FCA shar...
Detroit Free Press
Nation and world news briefs
Washington Post launches campaign for release of Austin Tice, journalist missing in Syria WASHINGTON — The Washington Post has launched a campaign calling for the safe release of Austin Tice, an American journalist who went missing covering the war in Syria in 2012. The campaign asks members of the press, lawmakers and government officials to wear #FreeAustinTice bracelets to help raise awareness of Tice’s case. The bracelets can be ordered through an online form by 3 p.m. ET on Wednesday, Dec. 9, the company said in a statement. The Post’s Press Freedom Partnership, a public service initiativ...
Tribune News Service
Fiat Chrysler, Peugeot-maker PSA Group set shareholder meetings to approve merger
Shareholders for Fiat Chrysler Automobiles and Peugeot-maker PSA Group are to meet in January to decide whether to approve the proposed merger between the two companies.The companies announced Wednesday they would hold general meetings for their respective shareholders on Jan. 4 “in order to approve the merger of their companies to allow the creation of Stellantis, which will become the world’s fourth largest automobile manufacturer by volume.”Leaders of the companies have previously said they aim to complete the merger by the end of the first quarter.Regulatory approvals have been moving forw...
Detroit Free Press
Auto review: My 1st ride in a Lordstown Motors electric pickup: It's real, but will that be enough?
Lordstown Motors, the plucky electric pickup startup that aims to turn an abandoned General Motors plant into a hub of manufacturing and technological leadership, faces a long road and uncertain prospects, but it’s the only prospective EV pickup giving demo rides to independent journalists, and they claim to have sold out the first year of production for their Endurance pickup.That makes them worth a look, and I got one during a demo ride and briefing at Lordstown’s engineering center in suburban Detroit.Lordstown went from a privately held company with limited means to a publicly traded one M...
Detroit Free Press