China-based WeRide deepens tech partnership with Nissan Motor

On Wednesday, in a statement, China-based autonomous driving startup WeRide, said will deepen its autonomous driving technology partnership with Nissan Motor and aims to raise $310 million in a new funding round which chasing a valuation of $3.3 billion. Guangzhou-headquartered WeRide, which is testing vehicles in California, did not disclose details on the size of the…

Nissan-backed WeRide receives permit to test passenger vehicles on public roads in California

In a statement California’s Department of Motor Vehicles said autonomous driving startup WeRide has received a permit to test two passenger vehicles on California’s public roads without a safety driver. Nissan and Mitsubishi,backed WeRide, is also testing its driverless vehicle in China’s southern city of Guangzhou. Technology and automakers are investing billions of dollars in…

Alphabet Inc’s Google settles hiring pay bias allegations with $3.8 million

In a statement, the U.S. Department of Labor said Alphabet Inc’s Google will spend $3.8 million, including $2.6 million in back pay, to settle allegations that it unfairly passed over women and Asians for job openings and underpaid women. The allegations stemmed from a routine compliance audit several years ago required by Google’s status as…

Cruise & GM, seek regulatory approval for self-driving vehicles without pedals & steering wheel

In a significant development, self-driving carmaker Cruise stated, along with its majority shareholder General Motors Co, it is seeking U.S. regulatory approval for deploying a limited number of Cruise Origin vehicles which will not feature pedals or steering wheels. At the same time, it plans on withdrawing an exemption petition filed which it had filed…

European fintech Revolut plans on applying for U.S.. banking license

According to sources with knowledge of the matter at hand, Revolut, a digital banking app plans on applying for a bank charter with the Federal Reserve Bank of San Francisco and California’s Division of Financial Institutions within weeks. Although Revolut’s bank charter will be with California, it will allow the lender to operate widely throughout…

Tesla aims to ramp up battery production to 3,000 gigawatt-hours

Following Tesla’s unveiling of its plans to produce its own batteries in order to trim costs, shares of its two battery suppliers fell on Wednesday. Shares of South Korea’s LG Chem and Japan’s Panasonic have fallen with the news reaching the market. After initially opening higher, LG Chem’s shares was trading down by 3.1% while…

Tesla to suspend production at California & NY factory to curb spread of Wuhan coronavirus

In a statement Tesla Inc said, starting from March 24 it will suspend production at its California vehicle factory so as to comply with local orders aimed at curbing the spread of coronavirus. Tesla’s New York factory will also temporarily suspend production, while operations at its Nevada plant will continue. “Despite taking all known health…

Apple, Netflix pull out of South by Southwest music and tech festival

Apple Inc and Netflix Inc stated, they are pulling out of the South by Southwest music and tech festival which is scheduled to be held later this month midst China’s coronavirus outbreak. As of Wednesday, the U.S. death toll from coronavirus infections stands at 11 with California Governor Gavin Newsom declaring a state emergency. Earlier…