General Motors (GM) announced it’s ending standalone funding for its Cruise robotaxi subsidiary, opting instead for full integration into its technical teams. This decision, met with criticism from Cruise co-founder Kyle Vogt, comes as the autonomous vehicle market intensifies and Cruise faces setbacks, including a San Francisco accident and regulatory scrutiny. GM aims to cut costs and focus on its Super Cruise driver-assistance technology.
Ride-hailing giant Uber partners with Chinese robotaxi company WeRide to launch autonomous vehicle rides in Abu Dhabi, marking a significant milestone for the global AV market. This collaboration represents the largest commercial robotaxi service outside the US and China, boosting the burgeoning autonomous driving industry.
Waymo, the Alphabet-owned self-driving car company, is set to launch a robotaxi service in Miami by 2026, partnering with Moove to manage its electric fleet. This expansion follows Waymo’s success in other US cities and marks a significant step in the autonomous vehicle market, despite recent regulatory scrutiny.
With Thanksgiving travel expected to reach record highs, Uber is launching its new XXL ride service at over 60 airports globally. This strategic move aims to capitalize on the surge in demand and compete in the evolving autonomous vehicle market.
A Wall Street analyst successfully completed an unassisted 94.7-mile drive from Manhattan to Connecticut using Tesla’s Full Self-Driving (FSD) technology, marking a significant advancement in autonomous driving capabilities and potentially impacting Tesla’s stock price.
Tesla’s stock price jumped over 5% on Robinhood following reports suggesting a potential easing of self-driving vehicle regulations under the incoming administration. This follows Elon Musk’s appointment to a government efficiency role and Tesla’s ambitious robotaxi plans.
Waymo, the self-driving car subsidiary of Alphabet Inc, has announced that its autonomous ride-hailing service is now open to everyone in Los Angeles. This marks a significant expansion for Waymo, which now offers its service in three major US cities: San Francisco, Phoenix, and Los Angeles. The company is also actively working to expand its service to other cities in the future.
Tesla’s stock skyrocketed following Donald Trump’s victory in the US presidential election, pushing the company’s market cap past $1 trillion and Elon Musk’s net worth beyond $300 billion. Analysts attribute this surge to Musk’s vocal support of Trump and the potential for accelerated growth in the autonomous vehicle sector under a Trump administration.
The global automotive adaptive front lighting market is poised for robust growth, with a projected CAGR of 12.5% from 2023 to 2031. This surge is driven by factors like increasing demand for safety features, evolving urban environments, and the rise of autonomous vehicles. The market is expected to reach a value of US$ 4.1 billion by 2031.
Lyft’s stock surged over 23% on Thursday after the ride-hailing company announced better-than-expected third-quarter results. The company reported a smaller-than-anticipated loss and strong revenue growth, exceeding analyst expectations. Lyft also revealed strategic partnerships with Intel’s Mobileye and May Mobility for autonomous ride-hailing services, fueling optimism about its future growth potential.
