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Uber Buys Middle East Rival in $3.1 Billion Deal
3/26/2019Uber Technologies Inc. is acquiring Careem Inc., a larger ride-hailing rival in the Middle East and North Africa, for $3.1 billion in cash and convertible notes.
Israeli Lidar Firm Lands $130 Million in Funding
3/26/2019Israel’s Innoviz Technologies Inc. has secured $132 million in its Series C funding round.
BMW Presses On with British Mini EV Production Plan
3/26/2019BMW AG plans to launch production of an all-electric Mini in the U.K. this year regardless of how Brexit plays out at the end of this month.
Judge Dismisses Shareholder Lawsuit Over Tesla Production
3/26/2019A lawsuit claiming Tesla Inc. misled shareholders about its Model 3 production levels has been dismissed by a U.S. District Court judge in San Francisco.
Trade Chief: Canada May Balk at New N.A. Trade Deal
3/26/2019Canada’s top trade negotiator says many in her country object to ratifying an updated North American trade deal until the U.S. lifts tariffs on Canadian aluminum and steel.
Volvo CEO Warns Against “Irresponsible” Claims for Automated Cars
3/25/2019Touting semi-autonomous vehicles as more capable than they really are risks killing a technology that “might be the best lifesaver in the history of the car,” declares Volvo Cars CEO Hakan Samuelsson.
Ford Bronco to Offer Removable Doors and Roof
3/25/2019Ford Motor Co. has shown dealers a prototype of the carmaker’s upcoming Bronco SUV that features a removable roof and doors, Automotive News reports.
Tesla to Raise Prices 3% in April
3/25/2019Tesla Inc. CEO Elon Musk says prices on the company’s new vehicles in inventory will rise about 3% worldwide on April 2.
China’s Carmakers Call for Connectivity Standards
3/25/2019Several of China’s largest carmakers are calling for the country to set unified rules for the “internet of vehicles” that will enable cars to communicate with each other and their environment.
Modified Ford GT Breaks 300-mph Barrier
3/25/2019M2K Motorsports LLC, a Fulshear, Tex.-based tuner company, hit 300.4 mph in a modified 2006 Ford GT supercar to set a new record for a street legal car.