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Uber Expands EV Fleet with 100,000 BYD Electric Vehicles

Uber Expands EV Fleet with 100,000 BYD Electric Vehicles

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Uber and BYD have entered into a major partnership. This multi-year partnership will see 100,000 BYD EVs added to the Uber platform. This move will start in Europe and Latin America before expanding to the Middle East, Canada, Australia, and New Zealand.

Uber Expands EV Fleet with 100,000 BYD Electric Vehicles

Image Source: qz.com

Both Uber and BYD are leading companies in their respective fields. Uber is the largest mobility and delivery platform and BYD is a leader in EV production. The goal of the deal is to reduce the costs associated with owning an electric vehicle and make it easier for Uber drivers to switch to electric vehicles. Apart from financial benefits to the drivers, this deal also aims to introduce millions of passengers to greener travel options.

Overcoming Problems with EV Adoption

Although Uber drivers are adopting EVs at a pace five times faster than private car owners, the high price of these vehicles and limited financing options are still major hurdles. BYD’s vehicles are known for their affordability, low maintenance costs, and top-notch battery. This partnership will provide discounts on charging, maintenance, and insurance, and offer several financing and leasing options to the drivers. 

The deal aims to make electric vehicles more affordable and accessible for Uber drivers and to promote the broader use of EVs. Both Uber and BYD are leaders in their industries. Uber operates the largest on-demand EV network in the world, while BYD is a major player in EV manufacturing.
By teaming up both companies are looking to cut the costs of owning an electric vehicle. This deal is not only designed to save drivers money but also to give millions of passengers a chance to experience more environmentally friendly travel.

Chuanfu Wang who is the Chairman and President of BYD shared his excitement about the deal saying “Uber and BYD are both committed to driving innovation towards a cleaner, greener future. I’m thrilled about what we can achieve together.”

Also Read: Flo Health Raises Over $200M, Achieves Unicorn Status in Femtech

Uber CEO Dara Khosrowshahi highlighted the environmental impact stating “When an Uber driver switches to an EV, they can cut emissions by up to four times compared to a regular car. Many riders experience EVs for the first time through Uber, and we’re eager to show more people the benefits of electric vehicles.”

Stella Li who is the Executive Vice President of BYD and CEO of BYD Americas, stated, “We’re thrilled to partner with a global leader like Uber to speed up the shift to electric vehicles and make sustainable transportation accessible and affordable for all.”

This partnership marks a significant step forward in the drive towards greener, more sustainable transportation options.

Apple Closes Electric Car Project Could Boost Work on Home Robotics

Apple Closes Electric Car Project Could Boost Work on Home Robotics

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In an interesting turn of events, Apple’s ambitious entry into the electric vehicle market has hit a significant hurdle, leading to speculation that the tech giant may redirect its attention and resources towards the growing field of home robotics. This pivot could signal a new direction for Apple, as it looks to leverage its technological prowess in an sector that is increasingly considered ripe for innovation.

The Shift in Focus

Apple Closes Electric Car Project Could Boost Work on Home Robotics

Image Source: brandsynario.com

For years, rumors have swirled about Apple’s secret Project Titan, an ambitious effort to develop an electric, possibly autonomous, vehicle that could compete with the likes of Tesla and Google’s Waymo. However, recent reports suggest that Apple’s automotive project has faced considerable challenges ranging from design issues to regulatory hurdles, leading to speculation about its future.

 

Insiders are now hinting that Apple may be reevaluating its strategic priorities with the new interest in home robotics. The shift allows the company to apply its extensive research and development, including advances in artificial intelligence (AI) and machine learning, to create sophisticated robotic solutions for consumers.

Potential for Home Robotics

The potential pivot to home robotics is seen as a natural extension of Apple’s existing ecosystem, which includes a wide range of smart home products and services. Apple’s expertise in designing user-friendly, aesthetically pleasing products could give it a significant advantage in a market that has long promised much but delivered relatively little in terms of mainstream adoption.

Experts believe that Apple’s entry into home robotics could revolutionize the sector, offering solutions that integrate seamlessly with users’ lives, enhancing convenience, and potentially redefining home assistance. One tech industry analyst says, “Apple has a history of entering markets late, only to end up redefining them.” “Its focus on privacy, security, and design may address many consumer concerns that have hindered the adoption of home robotics.”

Challenges and Opportunities

However, the transition from electric vehicles to home robotics is not without challenges. The robotics market is highly competitive, with established players and startups alike competing for dominance. Furthermore, developing robots that can navigate the complex and diverse environments of people’s homes requires significant advances in AI, machine vision, and physical design.

Still, the opportunities are vast. The global market for consumer robotics is expected to grow rapidly in the coming years due to advancements in technology and increasing consumer interest in smart home devices. With its track record of innovation and market disruption, Apple is well-positioned to make a significant impact.

Also Read: Microsoft-Supported Rubrik Faces $354 Million Loss in Latest IPO Filing

Conclusion

While Apple’s electric car ambitions may face a setback down the road, the company’s potential pivot to home robotics could open up new avenues for growth and innovation. By applying its design ethos and technical expertise to the challenges of home robotics, Apple has the opportunity to once again redefine our relationship with technology, making the smart home of the future a reality today.

Apple has Canceled Work on Electric Car, Report Say

Apple has Canceled Work on Electric Car, Report Say

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Apple abandoned its audacious attempt to create an electric vehicle, after ten years of work internally dubbed “Project Titan.” According to a number of media reports, the tech giant has decided to transfer funds from its EV project to its artificial intelligence (AI) section. Bloomberg was among the first to disclose the change, citing persons with knowledge of the circumstances, even though Apple has not yet made an official statement on the subject.

Making the switch to AI

Apple has Canceled Work on Electric Car, Report Say

Image Source: brandequity.economictimes.indiatimes.com

The move is being made in the midst of a changing technological and automobile scene. While the need for AI technology is rising, major automakers have been forced to reevaluate their expenditures due to the market’s disappointing sales of electric vehicles. Apple intends to capitalise on new trends and keep its competitive advantage over rivals like Microsoft and Google by reallocating resources to artificial intelligence.

Strategic Repercussions

The head of money and markets at the UK-based investment platform Hargreaves Lansdown, Susannah Streeter, observes that Apple’s change in direction is indicative of a larger pattern in the IT sector. Companies are placing a higher priority on AI developments as investor excitement for electric car investments declines. Streeter highlights how crucial it is for Apple to continue leading the way in technological advancement in order to defend its line of high-end products.

Previous Attempts and Conjecture

Apple’s activities during the previous ten years suggested that the corporation is interested in the automobile industry, even though the company has never formally acknowledged its ambitions to create an electric car. Apple took a number of calculated risks, including hiring executives from the auto industry and securing licences to test self-driving car technology. Still, there was talk that Apple would work with current automakers instead of creating its own cars.

Collaborating with Foxconn

One of Apple’s major manufacturing partners, Foxconn, sees an opening as the company pulls out of the electric car market. The corporation, which is well-known for producing iPhones, is expanding into the electric car market and hopes to start selling these vehicles this year. Young Liu, the CEO of Foxconn, expressed confidence about the changing automotive industry by pointing to the opportunity for reimagining the EV business model.

Also Read: Hacked Apple ID? Here’s How to Secure Your Account Now

Apple’s announcement that it would no longer be developing an electric vehicle signifies the conclusion of a much-awaited project, but it also highlights how quickly the automotive and technology sectors are changing. The company’s decision to concentrate on AI is a reflection of its strategic ambitions, which are to remain ahead of the constantly evolving technology landscape.

 
nio

William Li : The Founder of Chinese Tesla, Nio

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Everyone is aware of the potential of electric motor vehicles, as these can help the world save on fuel as well as money. Tesla has been the biggest inspiration for every other automobile company, and most of them have already built their electric cars, and are steadily moving towards manufacturing autonomous vehicles. One such company is Nio, founded by a celebrity entrepreneur William Li, that is working on something inspired by the same concept of Tesla electric cars, but a bit on the cheaper end.

William Li was born on born 9 August 1974 in Anhui, Eastern China.
Li’s family did not have a very good financial condition, so they
started saving for his college since he was seven. He had to work
part-time while he was still in school to support his family. He
attended a local school and later, joined the Peking University in
Beijing to pursue a graduate degree in sociology. He also opted for a
minor in law.

Despite the humble beginnings, Li managed to start a business at the age of 21 in 1996. The business was an internet-based startup, and the boom in the industry helped him grow as a successful entrepreneur.

William Li Founder Nio
bloomberg.com

In 2000, he started his second company, which later become his first
biggest business. The company name was Bitauto, and it was an
automobile Internet content and marketing services provider. Bitauto
later became public and traded on the American Stock Exchange
Copyright in 2010. It saw huge success and valued at $1 billion. It
helped Li to gain enough experience as a businessman and established
him as one of the most influential entrepreneurs in China. He served
as the CEO and chairman of the company for thirteen years and finally
sold Bitauto in 2013.

A fine entrepreneur is never out of ideas and cannot stay idle. Only
in a year after he sold his second company, he came up with a new
luxury electric car manufacturer startup, Nio, in 2014. Since he had
always been into the automobile and stuff related to it, he was
inspired to start his own automobile business.

But to start a huge vehicle manufacturing business, one needs a lot of money. For that, he started looking for investments. Li has got great convincing skills, which can be estimated from how he changed the mind of Xiaomi from starting its own electric car manufacturing brand to investing money into another such startup.

Li had always been inspired by the founder of Xiaomi, and how its business model worked. He even implemented some of the strategies from the business model of Xiaomi into his own startup. In a year of struggle, Li was able to bag investments from the major tech companies, including Tencent, Temasek, Baidu, Lenovo and TPG.

NIO EP9 is the first sports car model that the company produced and was launched on the same day as the company. In 2016, the company raised over a billion-dollar from its investors. To expand its specializations, the company received the “Autonomous Vehicle Testing Permit” from the California DMV, in October 2016. Since then, the company has been working on the level-three and level-four autonomy to build its own autonomous vehicles. By the end of the year, the company launched a new two-door coupé, named NIO EP9. Li being an experienced businessman is not afraid of taking risks, but he believes in steady growth. That is why Nio is still producing limited-edition vehicles. Though the company has now made some plans on mass production of its vehicles.

In four years of Nio, it produced over 14,000 units of electric
vehicles, and by the end of 2019, the company expects to make the
number 20,000 units. Till the year 2019, the company also raised over
$2.5 billion through four rounds of investments. In September 2018,
the company went public on the New York Stock Exchange and raised a
US$1.8 billion.

Nio participated in the Formula E in the 2014–2015 season and also
the other race championships. It also won the 2015 Long Beach ePrix
and the 2015 Moscow ePrix. NIO has even set five records in their
track-only EP9 for the fastest lap for an electric-powered car.

Along with his three startups, Li has also made some good
investments. In fact, he has invested in 32 companies from the
transportation sector. Li was famous before he started Nio, but the
success of Nio has made him known globally. He, in fact, is often
termed as the “godfather of the transport sector” in China and
sometimes the “Elon Musk” of China.

Volkswagen Unveils MEB Platform Electric Vehicles at the AAI Event 2018

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Volkwagen-ID-Buzz-Cargo
Image Source: express.co.uk

Volkswagen has got into the electric vehicles production to promote the ‘Electric for all’ motto, with its MEB (Modular Electric Drive Kit) platform launch this week. Volkswagen unveiled its series of the all-electric commercial vehicle at the 67th IAA Commercial Vehicles show, in Hannover. The main attraction of this launch was the new I.D. BUZZ CARGO.

The I.D. BUZZ is the joint venture of the Volkswagen Commercial Vehicles and Volkswagen Passenger Cars. The two-toned cargo micro bus gives a retro feel as it is the look-alike of the micro-buses of 60’s. The I.D. BUZZ is manufactured on the Volkswagon’s MEB platform, that is designed to support a variety of battery sizes, according to the purpose and the budget of the vehicle. The different battery size support makes the micro bus run for 330 to 500 km, in one go, when the battery is fully charged.

The I.D. BUZZ is capable of carrying a payload of 800 kg. The vehicle is almost 5 meters long, 2 meters wide and 2 meters high. The windows from the back of the driver seat have been dropped this time and the vehicle is having a solar roof and wide-opening doors, at its back. There is only three seats in the I.D. BUZZ, the one for the driver, and two for the passengers. The passenger seats can be folded to make more space for the cargo. It has shelves inside the backspace of the vehicle and the driver’s door, as well as the sliding door, opens electrically.

Many manufacturers are venturing into production of electric vehicles, and Volkswagen had also launched its first all-electric, a panel van, e-Crafter, back in August. At the AAI 2018, Volkswagen also added other vehicles to the electric vehicle family, including the ABT e-Transporter, ABT e-Caddy and Cargo e-bike. Volkswagen has designed the ABT e-Transporter and the ABT e-Cabby, jointly with Abt e-Line GmbH and will arrive in the middle of 2019. The vehicles are focussed on zero-emission and the I.D. Buzz can take some time to reach the markets, most probably by 2022.