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He purchased his Nio over models from rival Chinese automakers Xpeng , Li Auto and IM Motors. GM's operations in the country are much larger than those of its crosstown rival Ford Motor, for example. Equity income from GM's Chinese operations and joint ventures has fallen 67% since its peak of more than $2 billion in 2014 and 2015. And the rising quality of domestic-made electric vehicles helped support — and tap — growing nationalistic pride among China's consumers. In February, Ford named Sam Wu, a former Whirlpool executive who joined the automaker in October, as president and chief executive of its China operations, starting March 1.
Former Domino's CEO Ritch Allison bought $3,919 worth of pizza in 2021, the Financial Times found. The former CEO was compensated for a nearly $4,000 personal pizza expense, the Financial Times reported, citing Domino's proxy filing from last year. As FT points out, the previous proxy shows Allison's nearly $4,000 in pizza in 2021 was relatively tame. During his tenure as CEO, Allison pushed innovation and a culture of risk-taking at the tech-forward company. Curious what $3, 919 gets you in Domino's pizza pies?
Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) last fall announced they would shutter their Argo AI self-driving unit and focus on driver-assistance technology that provided more immediate returns. Cruise's rival and Alphabet Inc's (GOOGL.O) self-driving technology unit, Waymo, has this year laid off over 8% of its workforce. The company is also developing a fully autonomous vehicle called Origin from scratch without a steering wheel and with subway-like doors for rideshare and deliveries. "This is a really pivotal year for us that will really transform not just Cruise but the whole perception of autonomous vehicles." Reporting by Abhirup Roy in San Francisco; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.
Nvidia stock is set to hit $275 due to its leadership in AI, according to Credit Suisse. Nvidia shares have jumped more than 60% since the year's start as ChatGPT has raised AI hype. Characterizing Nvidia as the "leading silicon AI enabler," Credit Suisse said its graphic processing units are at the core of AI development and machine learning. Moreover, Nvidia's software will be its "competitive moat" in AI that keeps other companies at bay, Credit Suisse said. Credit Suisse is not alone in its bullishness.
With pails and mugs, Philippine residents clean up oil spill
  + stars: | 2023-03-07 | by ( ) www.reuters.com   time to read: +2 min
POLA, Philippines, March 7 (Reuters) - Residents of a central Philippine province affected by an oil spill from a sunken tanker endured the powerful stench of petroleum as they cleaned it up using buckets and mugs while authorities raced to contain environmental damage. Wearing personal protective equipment and masks, residents of the town of Pola in Oriental Mindoro, with the help of Philippine coast guard crew, collected debris soaked in oil and wiped thick sludge from rocks along the shore. "Here in our area the oil is really thick and the smell is strong," said 34-year-old resident Maribel Famadico while cleaning along the shore with other volunteers. "There is so much oil that we become nauseous when we are not wearing protection. [1/3] Volunteers dressed in personal protective equipment clean up the oil spill from the sunken fuel tanker MT Princess Empress, on the shore of Pola, in Oriental Mindoro province, Philippines, March 7, 2023.
Investors and industry watchers have also been concerned about billions of dollars that have been poured into the self-driving technology sector in a short span of time to commercialize it. "Over the next handful of weeks, we will work closely with the Embark Board of Directors to evaluate our options, including selling assets, restructuring the company or shutting down completely." Embark went public in 2021 through a special purpose acquisition company (SPAC) deal and is backed by Mubadala Capital, Sequoia Capital and Tiger Global Management. The company expects to incur charges of $7 million to $11 million related to the workforce reduction, which spans about 230 employees. Shares of Embark closed down 32.8% lower at $2.56 on Monday, giving the firm a market capitalization of $60 million, compared with the over $5 billion in market value when it went public.
[1/2] A view of an oil spill at a beach in Caluya, Philippines March 4, 2023 in this still image obtained from social media video. A remotely operated autonomous vehicle would be deployed to help determine the exact location of the tanker, it said. Authorities want to know how much oil is inside and how to pump the remainder out and stop any leaks, experts said. The tanker's owner has contracted local agencies, Harbor Star Shipping Services and Malayan Towage and Salvage Corp., for the cleanup. If sea conditions are bad, it is also unsafe for our contractors to work," Rodrigo Bella, vice president of Harbor Star, told the media briefing.
Research firm Guidehouse Insights regularly ranks companies developing automated driving tech. Tesla didn't make this year's top 10, and ranked last of 16 companies assessed. That's despite CEO Elon Musk's confidence in his Full Self-Driving tech. Moreover, of the 16 companies recently ranked by research and consulting firm Guidehouse Insights (which ranks some of the biggest names working on automated-driving technology each year), Tesla came in last. Tesla ranked last in similar lists in 2021 and 2020.
Electric vehicle maker Tesla laid out its long-term vision at a 2023 Investor Day presentation in Austin, Texas, on Wednesday. CEO Elon Musk took the stage to share his "Master Plan 3," and to discuss how Tesla plans to scale up in the face of increasing competition. Musk said, "Earth can and will move to a sustainable energy economy, and will do so in your lifetime." To start, Musk was joined on stage by Senior Vice President of Powertrain and Energy Engineering at Tesla, Drew Baglino. Tesla shares have rebounded from declines during 2022, and are up more than 60% for the year so far.
Hopes are building for big announcements from Elon Musk and Tesla at its investor day Wednesday. Master Plan 3, robotaxis, cheap EVs and solar power are thought to be high on Musk's list. Speaking on CNBC's "Squawk on the Street" on Monday, Ark Invest CEO and Tesla backer Cathie Wood said this would be a cornerstone of the Investor day. Solar PowerTesla may also continue to build out its symbiotic relationship with renewable energy generation at its investor day, targeting sustainable sources to pump electricity into its vehicles. In a tweet last month, the company teased the idea of a Tesla ecosystem: energy generation, energy storage & electric vehicles.
CNN recently spoke with Malek about what travel will look like by 2050. CNN: Do you think supersonic air travel will return to the skies? Malek: So we’ve seen supersonic planes in the past and I do think we’ll see supersonic planes in the future. So now it’s no longer just a question of will we see supersonic planes, but will they be fueled by net zero carbon fuels? Historically, we’ve started with ‘what do cars need, what do planes need?’ But planes and cars are here just for us.
Persons: Michigan CNN —, Henry Ford, Alisyn Malek, Malek, we’ll, We’re, Volocopter, Hyperloop, it’s, What’s, we’ve Organizations: Michigan CNN, , CNN Locations: Detroit, Michigan, City, Detroit , Michigan, Paris, France
Elon Musk has made developing autonomous driving technology one of Tesla's fundamental goals. "Today it's financially insane to buy anything other than a Tesla," Musk said at an event touting the carmaker's autonomous-vehicle development in 2019. That revolutionary software update never came, and by 2022 the goalpost for bringing self-driving cars to the masses had shifted to 2023. Full Self-Driving is far from actually being self-driving, some sayDespite its branding, Tesla's Full Self-Driving Beta currently requires total driver supervision, just like cruise control or smarter features like Autopilot. Likewise, McGehee says self-driving cars need a combination of overlapping sensors — whether that's cameras, radar, lidar, or ultrasonic sensors — to move through the world safely.
Of the over 700,000 EVs sold in the US in 2022, none could be fully accessible to wheelchair users. EV batteries' are under the floor, which is a challenge for making the cars accessible. Making a car fully accessible to wheelchair users costs around $30,000. "Inches mean miles when you're in a wheelchair," Kevin Frayne, director of advanced mobility solutions at BraunAbility, a manufacturer that converts cars to make them accessible to wheelchair users, told Insider. Charging infrastructureOnce made accessible, EVs could benefit wheelchair users greatly.
Tesla will be the leader of the EV market, as the company is leading the charge in key areas, Cathie Wood said. Wood predicted Tesla stock would jump to $1,500 in five years, implying a 650% increase from current levels. They're focused on autonomous," Wood said in a Bloomberg Intelligence webinar posted on Thursday. In addition to robotics and artificial intelligence, which will power autonomous electric vehicles, she also pointed to energy storage, saying advances in battery technology will give electric vehicles lower costs than typical gas-powered vehicles. That's because they aren't focusing enough on autonomous vehicles, and Tesla models are also of higher quality, she said.
Luminar, Mercedes-Benz expand deal for self-driving tech
  + stars: | 2023-02-22 | by ( ) www.reuters.com   time to read: +1 min
Feb 22 (Reuters) - Self-driving sensor maker Luminar Technologies Inc (LAZR.O) announced an expanded partnership with Mercedes-Benz Group (MBGn.DE) on Wednesday to enable fully automated driving for its next-generation vehicles. Automakers from Tesla Inc (TSLA.O) to General Motors (GM.N) are focusing on autonomous vehicles, but technological and regulatory hurdles remain. Tech firms such as Alphabet Inc's (GOOGL.O) Waymo and Aptiv-Hyundai Motor joint venture, Motional, are also looking to develop autonomous vehicles for commercial use. Luminar and Mercedes-Benz had announced a partnership in January last year. Palo Alto, California-based Luminar also said it plans to build a factory in Asia to support the multi-billion dollar deal.
[1/2] Jaguar Land Rover unveils the new Jaguar F-Type model during its world premiere in Munich, Germany, December 2, 2019. REUTERS/Michaela RehleLONDON, Feb 21 (Reuters) - Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O). The hubs in Munich, Bologna and Madrid will develop self-driving systems for JLR's next generation of luxury vehicles. JLR already has six global tech hubs the United States, China and Europe. The partnership with Nvidia gives JLR a well-funded ally as it tries to catch up with Tesla Inc (TSLA.O) and other luxury vehicle rivals in a digital technology arms race.
Amazon CEO Andy Jassy told employees on Tuesday that it'll take many months to redefine the company. But he said if everyone works together as a team, Amazon will get through it stronger. Amazon CEO Andy Jassy delivered a brutally honest motivational pep talk at an internal staff meeting on Tuesday, urging employees to band together as the company tries to get through an unusually challenging time. But he promised employees that the progress they make will "redefine" Amazon and better-position the company going forward, according to a recording of the all-hands meeting obtained by Insider. I don't really know any other company that's pursuing a set of innovations like that," Jassy said.
London CNN —Amazon’s Zoox driverless transportation company has started testing its robotaxi on open public roads — with employees on board, for now. The company said Monday that it conducted an initial run of its shuttle service for workers at its headquarters in Foster City, California on February 11, a key step in its efforts to make autonomous vehicles widely available. Full-time employees will now be able to travel in the self-driving taxi on the route between Zoox’s two main office buildings. Zoox, which was founded in 2014 and purchased by Amazon in 2020, is unique in its approach to designing electric self-driving vehicles. But Zoox has ditched the steering wheel and brake pedal, claiming those features are unnecessary when there’s no human driver.
SAN FRANCISCO, Feb 13 (Reuters) - Amazon.com Inc's (AMZN.O) self-driving vehicle unit, Zoox, said on Monday it has successfully tested a robotaxi with employees as passengers on a public road in a move to bring it closer to commercial service for the general public. Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE) last fall announced they would shutter their Argo AI self-driving unit and focus on driver-assistance technology that provided more immediate returns. Companies still pursuing development of this technology include General Motors Co's (GM.N) Cruise unit and Alphabet Inc's (GOOGL.O) Waymo. Online retailer Amazon, which has been aggressively expanding into self-driving technology, bought Zoox for $1.3 billion in 2020. Reporting by Abhirup Roy in San Francisco Editing by Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
Amazon -owned autonomous vehicle venture Zoox said on Monday that it is now testing its self-driving robotaxis on public roads in California with passengers on board. Zoox executives said the company began the tests after it received approval from the California Department of Motor Vehicles last week. Zoox said one of its vehicles completed a test run with employees on board over the weekend. Zoox unveiled its custom-built, electric robotaxi in 2020, with an eye on offering on-demand autonomous transportation in urban settings. It will continue to test the vehicle with employees and expects to launch a shuttle service for staffers this spring.
A Super Bowl ad showed a Tesla slamming into two child-sized mannequins and a stroller. Tesla CEO Elon Musk said the ad would raise awareness a Tesla could drive itself while supervised. The 30-second ad was created by The Dawn Project, an organization that campaigns to ban what it calls "unsafe software." The Dawn Project says the ad shows tests it performed with a Tesla using the company's Full Self Driving (FSD) feature. On its website, The Dawn Project says Tesla's FSD software is "not safe for public roads."
In 2013, Oxford economist Carl Benedikt Frey estimated that nearly half of all US jobs could be replaced by AI. So rather than having your job "outright replaced," Frey says, ChatGPT's adoption may ultimately result in a different outcome — being replaced by another human. That said, he believes the study's estimates regarding potential AI job replacement are still "broadly on target." "We may be more focusing on generating the right ideas, asking the right questions, things that are more interesting." That's because there are arguably some things ChatGPT can't learn from scouring data from millions of websites.
Its Drive Pilot feature allows drivers to not pay attention to the road in certain situations. Drive Pilot is a "really big deal," Bryant Walker-Smith, a law professor at the University of South Carolina who specializes in autonomous vehicles, told Insider. But at one level higher, Mercedes' Drive Pilot allows a driver's attention to wander to other tasks in certain situations. There are some caveats: When Drive Pilot hits roads later in 2023, it will only work on certain freeways in Nevada and only at speeds under 40 mph. Still, Drive Pilot isn't sparking a revolution in the way people drive — or don't — just yet.
REUTERS/Phil NobleCOVENTRY, England, Feb 1 (Reuters) - Developing fully autonomous vehicles (AVs) that can go everywhere has proven harder and more expensive than expected, but investors are continuing to fund startups that target simpler self-driving vehicle solutions far removed from pedestrians and other vehicles operated by unpredictable humans. Earlier promises made by robotaxi companies of operating fleets of vehicles by the early 2020s have fallen well short. BMW iVentures has also invested in AV truck technology firm Kodiak Robotics, which managing partner Sage said has adopted a simpler approach to areas like mapping. Construction and agricultural equipment - used off-road in low-traffic environments - has been another growth area for AV startups. U.S. agricultural equipment maker AGCO Corp (AGCO.N), for instance, is using the Palo Alto, California-based startup's software for an experimental automated electric planter.
Aurrigo has developed a four-seater "auto pod" with no steering wheel or pedals for slow non-road routes such as on university campuses. The company has also designed the "Auto-Dolly" and "Auto-DollyTug" for airports and is working with Singapore's Changi Airport, its lead customer, to automate baggage handling. But Aurrigo's CEO said airports provide the perfect environment because all vehicles travel at low speeds. Aurrigo is currently talking to 80 airports about following Changi's lead and Keene said the typical airport will need between 300 and 500 dollies. The IPO raised only 8 million pounds ($10 million), but Keene said that should pay for the rollout of airport dolly AVs.
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