Lidar sensor maker Innovusion raises $64M in latest funding

In a statement lidar sensor maker Innovusion said, it had raised $64 million to ramp up production and supply Chinese electric vehicle (EV) maker Nio Inc’s ET7 sedan, which is scheduled to start deliveries in early 2022. The funding includes new investments from Singapore state investor Temasek and venture capital firm Joy Capital. Existing investors also…

Luxury EV maker Lucid Motors to go public with $11.75 merger with black check company Churchill Capital IV Corp

In a statement luxury electric vehicle maker Lucid Motors stated, it will go public by merging with blank-check firm Churchill Capital IV Corp in a deal that values the combined company at $11.75 billion. Incidentally, CCIV, which has the backing of Michael Klein, and new private investors are getting shares at different prices: the new…

Electric Vehicle startup Rivian starts taking pre-orders for electric SUVs and pickup trucks

In a statement, electric vehicle startup Rivian said, it will begin taking pre-orders for its electric SUVs and pickup truck with deliveries scheduled for both in next year. The launch editions of the electric R1S SUV and the R1T pickup truck has been priced at $77,500 and $75,000 respectively, with both vehicles having a 300…

Foxconn partners with Medtronic Plc to manufacture ventilators

On Wednesday, Taiwanese electronics manufacturing giant Foxconn stated, it will partner with U.S. firm Medtronic Plc to manufacture ventilators to help patients afflicted by the Wuhan coronavirus outbreak. Formally known as Hon Hai Precision Industry Co Ltd, Foxconn is best known for assembling Apple’s iPhones at factories in China. Foxconn’s statement, released through the company’s…

U.S. considering blocking sale of GE engines for China’s passenger plane: sources

According to sources familiar with the matter at hand, the U.S. government is weighing options which include stopping General Electric Co from continuing to supply engines for China’s passenger jet. The development will cast a shadow of uncertainty over China’s efforts to enter the civil aviation market. The potential restriction on the sale of plane…