Explore transportation trends, from electric vehicles to autonomous driving and sustainable mobility.
Transportation
Archer Aviation (NYSE: ACHR), a leading air-taxi maker, announced on Thursday that it has raised $430 million in fresh capital. The funding, which includes contributions from existing investors United Airlines and Stellantis, as well as new backers Wellington Management and Abu Dhabi’s 2PointZero, comes through an equity offering. Key
Transportation
General Motors (GM) announced it will cease funding for its Cruise robotaxi service, marking a significant shift in its autonomous vehicle strategy. The company will now prioritize developing self-driving technology for personally owned vehicles rather than operating commercial robotaxi fleets. Why GM Pulled the Plug on Cruise Cruise’s robotaxi
Transportation
Uber has launched its first international robotaxi service in Abu Dhabi, United Arab Emirates, in partnership with Chinese autonomous vehicle company WeRide. This initiative allows customers to book self-driving cars through the Uber app at standard UberX and Uber Comfort rates. Initially, these vehicles will have safety drivers onboard, with
Transportation
After establishing its autonomous vehicle services in San Francisco and Los Angeles, Waymo, Alphabet’s self-driving car subsidiary, has revealed its next stop: Miami. The company plans to deploy its fleet of driverless Jaguar I-Pace electric vehicles in Florida starting in early 2025, with rides becoming broadly accessible via the
Transportation
Joby Aviation is making significant strides toward realizing the concept of air taxis. Operating from Marina, California, Joby is developing electric vertical take-off and landing (eVTOL) aircraft designed to revolutionize urban mobility. Aircraft Specifications and Performance Joby's eVTOL is engineered to carry four passengers and a pilot, achieving
Travel
Delta Air Lines, during its recent investor day, outlined ambitious financial targets, focusing on the premium travel segment. The airline highlighted that affluent travelers, particularly millennials, are increasingly willing to invest in luxury travel experiences. Notably, high-income households have accumulated an additional $10 trillion in wealth since the second quarter
Space
Scientists are conceptualizing an "Interstellar Generational Spaceship" designed to carry 1,000 individuals on a 250-year mission to explore distant stars. This initiative, part of Project Hyperion by the Initiative for Interstellar Studies, focuses on creating a self-sustaining vessel where multiple generations can live, work, and conduct research
Transportation
Uber Freight has introduced "Broker Access," a program granting freight brokers direct entry to its carrier network and digital platform. Building upon the 2021 "Market Access" initiative, Broker Access enables brokers to automate load execution without significant technology investments, leveraging Uber Freight's extensive carrier
Automotive
General Motors (GM) has announced plans to lay off approximately 1,000 employees worldwide, primarily targeting white-collar positions, as part of a strategic effort to reduce costs and enhance competitiveness in the global automotive market. This decision aligns with GM's ongoing initiative to achieve a $2 billion reduction
Automotive
Tesla has issued its sixth recall of the Cybertruck this year, affecting approximately 2,431 units manufactured between November 2023 and July 2024. The recall addresses a defect in the drive unit inverter's metal-oxide-semiconductor field-effect transistors (MOSFETs), which can lead to a sudden loss of propulsion without prior
Business Insights
Just Eat Takeaway.com has agreed to sell Grubhub to Wonder Group for $650 million, a significant decrease from the $7.3 billion it paid in 2021. The deal includes $150 million in cash and the transfer of $500 million in senior notes to Wonder. This sale reflects the challenges
Business Insights
Spirit Airlines is reportedly preparing to file for bankruptcy protection following the collapse of merger discussions with Frontier Airlines. The Wall Street Journal indicates that Spirit is in advanced talks with bondholders to develop a bankruptcy plan supported by a majority of its creditors. The airline has been grappling with