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☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

☆ Tesla’s Troubles Raise Questions About Its Invincibility
▼ + stars: | 2024-03-18 | by ( Melissa Eddy | ) www.nytimes.com time to read: +1 min

“They can’t stop us,” Mr. Musk, the company’s chief executive, told workers in a giant tent beside the plant. But there are proliferating signs that Tesla may not be as unstoppable as it once seemed. Chinese automakers and established brands like BMW and Volkswagen are flooding the market with electric cars. Mr. Musk’s many outside ventures, and his penchant for making polarizing political statements and attacking people he disagrees with, have raised questions about how focused he remains on managing Tesla. Wall Street is increasingly concerned about the company: Tesla’s share price has lost one-third of its value this year even as major stock indexes have hit record highs.

Persons: Elon Musk, ” Mr, Musk, Tesla Organizations: BMW, Volkswagen Locations: Tesla’s, Berlin

☆ UAW says VW workers at Tennessee plant file for union election
▼ + stars: | 2024-03-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday. In 2019, VW workers at the Chattanooga, Tennessee, plant rejected union representation in an 833-776 vote. The Chattanooga plant is Volkswagen's only U.S. assembly plant and employs over 4,000 autoworkers who would be eligible to vote for union representation. "We will fully support an NLRB vote so every team member has a chance to vote in privacy in this important decision. By the end of the UAW contracts, top wages are expected to surpass $42 an hour for production workers.

Organizations: DETROIT, Volkswagen, National Labor Relations Board, United Auto Workers, U.S, UAW, Nissan, VW, NLRB, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Subaru, Toyota, Volvo Locations: Tennessee, U.S, Chattanooga , Tennessee, Chattanooga

☆ UAW files for union vote at Volkswagen’s Tennessee plant
▼ + stars: | 2024-03-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is seeking a union representation vote among more than 4,000 hourly workers at the Volkswagen plant in Chattanooga, Tennessee. The union has announced a broad-based campaign to win representation at the American plants of 13 nonunion automakers. That is slightly more than the union’s representation at the three unionized automakers, which have about 145,000 UAW members between them. The VW Chattanooga plant is the only factory operated by VW that does not have union representation. Once the election process starts, management often holds mandatory meetings with staff to make the case against union representation, and that convinces some earlier supporters of the union to end their support.

Persons: –, ”, Victor Vaughn, ” Vaughn, “ Organizations: New, New York CNN, United Auto Workers, Volkswagen, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, – Tesla, –, Motors, Ford, Jeep, Dodge, Chrysler, VW, ” Locations: New York, Chattanooga , Tennessee, VW Chattanooga, Chattanooga

☆ VW is reviving a storied American brand to sell electric SUVs
▼ + stars: | 2024-03-17 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —When Volkswagen decided to relaunch the Scout SUV brand it took a very unusual step. The revived and revamped Scout Motors will introduce its new brand of all-electric off-road-capable SUVs, kind of like Rivian. Buzz, an electric update of the classic hippie bus, VW is touching on nostalgia to reach a new generation of car buyers. VW came to own the trademark for the defunct brand in 2021 when it purchased Navistar, a successor company to International Harvester. Scout’s parent company, Volkswagen, is building its own EV battery plant in Canada and a battery engineering lab in Chattanooga, Tennessee.

Persons: it’s, Oliver Blume, “ What’s, ”, Erin Keating, Scott Keogh, Dave Mondragon, who’s, they’ll, Keogh, ” Keogh, ” Keough, Chris Benjamin, isn’t, roader, Keating Organizations: CNN, Volkswagen, Scout, Volkswagen Group, Audi, Porsche, VW, ” Volkswagen Group, Cox Automotive, Harvester, International, Bentley, Lamborghini, North, Ford, P Global Mobility, Dealers, Scout Motors, US . Scout Motors, Volkswagen North, Volvo, Mercedes, BMW, Tesla Locations: United States, America, Volkswagen North America, Blythewood , South Carolina, South Carolina, Novi , Michigan, Canada, Chattanooga , Tennessee

☆ Remembering Marcello Gandini, designer of the world’s most famous supercar
▼ + stars: | 2024-03-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN —Look at almost any modern high-horsepower supercar and you will see the work of auto designer Marcello Gandini. Sharp lines, a low stance, doors that swing up; all were influenced by Gandini’s seminal work, the Lamborghini Countach. Gandini designed both of those cars and, if he had done nothing else, he would still be remembered. But in addition to his work for Lamborghini, Gandini produced cars for automakers including BMW, Fiat and Ferrari. The Lamborghini LP500, a first prototype for the Countach sports car, designed by by Marcello Gandini of Gruppo Bertone, circa 1972.

Persons: Marcello Gandini, Gandini’s, Lamborghini Countach, Stefano Guidi, Lamborghini Miura, Gandini, —, Miura, Lamborghini, ” Gandini, “, ” Marcello Gandini's, “ Gandini, ” Bertone, ” Organizations: CNN, Lamborghini, BMW, Fiat, Ferrari, Volkswagen Polo, Renault, Bertone, Geneva, Hulton, Museo Nazionale dell’Automobile, National Automobile Museum, Lancia, Museo Nazionale dell'Automobile, Porsche, Gooding, Co Locations: Turin, Italy, United States, Pebble Beach , California

☆ EV maker Fisker’s stock dives after company reportedly explores bankruptcy
▼ + stars: | 2024-03-13 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Electric vehicle company Fisker’s stock plunged more than 40% in after-hours trading on Wednesday as investor concern about the company’s ability to stay in business intensified. The Ocean is built in Austria by Magna, a company that has also built vehicles for Mercedes-Benz, BMW and Jaguar. Brownlee’s video has racked up more than 4.5 million views so far and sent the stock plunging after its release. Fisker’s stock was trading at 32 cents a share at the close of trading Wednesday, a more than 80% decline since the start of 2024. Fisker is founder Henrik Fisker’s second car company.

Persons: Fisker, Marques Brownlee, madeh, ”, Henrik Fisker’s, Hurricane Sandy Organizations: CNN —, Wall Street, Magna, Mercedes, Benz, BMW, YouTube, Fisker Automotive, Hurricane Locations: Austria, American

☆ I was making 6 figures in sales, but I was constantly away from my family. So at 39, I enrolled in law school.
▼ + stars: | 2024-03-11 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

A career in lawI signed up for the Law School Admissions Test and started looking at colleges with evening programs. I didn't tell anyone except my wife in case it didn't work out. I started law school when I was 39. I was also calmer than my younger peers when things didn't work my way — I knew it wasn't the end of the world. Sacrifices along the wayJuggling law school, my full-time job, and my family was challenging.

Persons: Edwin Schwartz, Schwartz, —, I've Organizations: Service, University of Southern, Lexus, BMW, Law, California Western School of Law Locations: Orange County , California, University of Southern California, California

☆ BMW Is a Surprise Winner in Electric Vehicles
▼ + stars: | 2024-03-09 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

The German automaker’s electric vehicles are made on the same assembly line as gasoline cars and look similar from the outside. The company sold 376,000 electric vehicles last year, including some under its Mini brand, a 75 percent increase from the previous year. Electric vehicles accounted for 15 percent of BMW sales in 2023, up from 9 percent the previous year. The company’s growth comes as sales of electric vehicles have risen at a slower pace overall around the world. What is even more surprising is that BMW, unlike General Motors or Ford Motor, made a profit on the electric vehicles it sold.

Organizations: BMW, Tesla, General Motors, Ford Locations: Munich

☆ Rivian reveals its new, more affordable off-road EVs
▼ + stars: | 2024-03-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Prices for the R2 SUV, which will go on sale in early 2026, will start at around $45,000, Rivian said. That’s something that set the larger R1S apart among electric SUVs, few of which can seat more than five. The Rivian R2. The Rivian R2 and R3 are Rivian’s smaller, more affordable off-road EVs Rivian“For $75,000 I can buy a Mercedes or a BMW, a 100-year-old Europe power house,” he said. Without naming Rivian, Scout chief executive Scott Keogh noted the advantage of Scout’s established brand name.

Persons: CNN — Rivian, Rivian, R.J, Scaringe, It’s, “, ” Scaringe, won’t, Sandeep Rao, ”, Scott Keogh, ” Keogh Organizations: CNN, US EV, BMW, Kia, Hyundai, Volkswagen, Scout, International Harvester Locations: Georgia, Europe, South Carolina

☆ After a devastating breakup with a 'bad boy,' I learned a valuable lesson about self-worth that led me to my husband
▼ + stars: | 2024-03-06 | by ( Alana Sheeren | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I was drawn to his sense of humor, the way he put words on the page, and the bad boy glint in his dark brown eyes. I lacked confidence; I was in an industry that shredded what little I had, like last night's roast chicken. The man who left trash on the street for someone else to pick up was not a man whose values matched mine. When we met again months after the breakup, I didn't make the same mistake.

Persons: —, glint, we'd, he'd, We'd, I'd Organizations: Service, Business Locations: Los Angeles, Hollywood, Canada

☆ Where Electric Vehicles Are (and Aren’t) Taking Off Across the U.S.
▼ + stars: | 2024-03-06 | by ( Nadja Popovich | ) www.nytimes.com time to read: +7 min

Where Electric Vehicles Are (and Aren’t) Taking Off Across the U.S.Last year, Americans bought more than one million fully electric cars, trucks and SUVs, a record and a milestone for the country’s transition away from gas-powered vehicles. To fight climate change, the Biden administration and many state governments want to accelerate the transition to electric vehicles. experience from pretty easy and kind of hard,” said Ken Kurani, a researcher focused on electric vehicles at the University of California, Davis. Only two electric vehicles in the analysis, both made by Tesla, cost the same or less than similar gas models. But for now, “there are some very real ways in which, in comparison to conventional vehicles, electric vehicles either really are still struggling to be as good or better, or are struggling against the imagination that they’re not as good or better,” he said.

Persons: Tom Libby, Mr, Libby, “, ”, Biden, Ken Kurani, Kurani, Brittany Greeson, Philip Cheung, We’re, Tesla, “ We’re, Jessica Caldwell, Kelley, Davis Organizations: P Global Mobility, P, Pew Research Center, University of California, The New York Times, BMW, Ford, Hyundai, General Motors Locations: Florida, Texas, West Coast, California, San Francisco Bay, Los Angeles, Detroit, Bismarck, N.D, United States, Davis, Chicago, Norway, Edmunds, U.C

☆ Skip EV stocks like Tesla, says fund manager, naming a 'phenomenal' alternative
▼ + stars: | 2024-03-05 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Competition is heating up in the electric vehicle industry, especially between investor favorite Tesla and Chinese automakers like the Warren Buffett-backed BYD . He said that most EV businesses had not succeeded in making money yet, given the "extraordinary" amount of capital invested initially. He manages over $750 million across the Latitude Horizon Fund and the Latitude Global Fund . 'Phenomenal' Ferrari Lait described Ferrari in particular as "a phenomenal business." The average price target on Ferrari is 391.96 euros ($425.14), according to FactSet data, giving it potential downside of around 8%.

Persons: Tesla, Warren Buffett, EVs, Freddie Lait, CNBC's, Lait, Ferrari Lait, Ferrari, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Latitude Investment Management, Ferrari, Motors, Volkswagen, BMW, New York Stock Exchange, Euronext, Euronext Milan, UBS Locations: Euronext Milan

☆ EV maker Fisker says it may go out of business
▼ + stars: | 2024-03-01 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —Fisker, the electric vehicle company founded by auto designer Henrik Fisker, announced in its fourth quarter earnings Thursday that it might not have enough money to survive another year. The company is in discussions with an existing investor about possibly putting more money into the company, the EV maker said in its announcement. Last year, Magna produced more than 10,193 Fisker SUVs, but fewer than half of those were delivered to customers within the calendar year, the company announced. Fisker is founder Henrik Fisker’s second car company. His first, Fisker Automotive, produced a plug-in hybrid luxury car called the Fisker Karma.

Persons: New York CNN — Fisker, Henrik Fisker, Fisker, Henrik, Henrik Fisker’s Organizations: New, New York CNN, Magna, Mercedes, Benz, BMW, Fisker Automotive Locations: New York, Austria, Europe, Hurricane

☆ I'm a budget traveler who flew first class using airline miles. It was amazing but I wouldn't spend money on it.
▼ + stars: | 2024-02-29 | by ( Lauren Poffenbarger | ) www.businessinsider.com time to read: +8 min

I used points from credit-card bonuses to travel first class on Emirates and had a luxurious flight. AdvertisementAfter years of low-budget traveling, my fiancé and I decided to use airline points and flew in Emirates first class from the Maldives to Dubai. Without miles, this first-class flight is usually about $3,000. I used to think flying first class was reserved for the wealthyFlying in Emirates first class was a luxurious experience for me. I wouldn't spend actual money on it, but redeeming our miles for this luxurious first-class experience felt like the best use of our points.

Persons: —, Lauren Poffenbarger, Dom Pérignon, we'd, Bowers, Wilkins, foodie, Hennessy Paradis, Lauren Poffenbarger I'm Organizations: Emirates, Service, Citi, American Express, Bulgari, Dubai International, BMW Locations: Maldives, Dubai, Emirates, Bulgari cologne, Lauren Poffenbarger Emirates

☆ Apple cancels work on an electric car, reports say
▼ + stars: | 2024-02-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Apple has abandoned decade-long efforts to build a self-driving electric car, according to multiple media reports, calling time on a project that some saw as potentially transformative for the auto industry. The news comes as electric vehicle (EV) sales have disappointed, prompting several major manufacturers to pull back on investments. Apple had been hiring automotive executives since at least 2014 and, in April 2017, it received a permit from the California Department of Motor Vehicles to test self-driving vehicles. Two years later, it acquired Drive.ai, a self-driving car startup. In 2020, Morgan Stanley analysts said an Apple car had the potential to be “a transformative event” for the automobile and mobility industry in the coming decades, much as the iPhone disrupted the mobile phone industry.

Persons: London CNN —, Morgan Stanley Organizations: London CNN, London CNN — Apple, Bloomberg, CNN, Apple, California Department of Motor Vehicles, BMW

☆ Unilever and Dell have shut down some sustainability marketing initiatives as big corporations embrace 'green hushing'
▼ + stars: | 2024-02-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Late last month, computing giant Dell cut part of its marketing team that focused on sustainability and other ESG-related marketing roles, Business Insider has learned. This story is available exclusively to Business Insider subscribers. AdvertisementThis is feeding into a growing trend of "green hushing," where companies stop publicizing their sustainability efforts due to concerns around regulatory scrutiny or a consumer backlash, experts say. Other sustainability agencies have been absorbed into wider offerings, R3 EVP of delivery Sarah Tan told Business Insider. Leo Rayman, head of the sustainability consultancy and venture studio Eden Lab, said that the green hushing phenomenon could suggest a sign of maturity in the space.

Persons: we're, Hein Schumacher, hushing, Pimco, , Harriet Kingaby, Sarah Tan, Kingaby, Bud, Bud Light, influencer Dylan Mulvaney, Guy Parker, — that'll, Parker, Leo Rayman, Rayman, Townsend Organizations: Dell, Business, Unilever, JPMorgan, State, ACT Climate Labs, Media, Advertising Network, Brands, Green Guides, Standards Authority, ASA, BMW, Shell, Etihad Airways, Competition, Markets Authority, Eden, Sustainability

Hybrid vehicles led the 2024 top vehicle rankings released Tuesday by influential product testing organization Consumer Reports. Such "electrified" vehicles, including plug-in hybrid models, represented six of the top 10 picks by the nonprofit consumer organization. Toyota's four vehicles in the top 10 rankings were all hybrid or plug-in hybrid vehicles. Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. Plug-in hybrids typically have a larger battery to provide for all-electric driving for a certain number of miles until an engine is needed to power the vehicle or electric motors.

Persons: Jake Fisher Organizations: Tesla, Consumer, Toyota Motor, Subaru, Ford Motor, Mazda, BMW, CNBC, EV, Toyota Prius

☆ No, electric vehicle sales aren’t dropping. Here’s what’s really going on
▼ + stars: | 2024-02-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

(BNEF’s figures include plug-in hybrids, but the large majority are fully electric vehicles.) High pricesMost electric vehicles currently on sale in America are on the more expensive side of the automotive market. Power, referring to the Kia EV9 and Cadillac Lyriq electric vehicles. Besides raw numbers, the EV chargers that are currently available tend to rate low with consumers in terms of reliability, according to J.D.. Power surveys. Public chargers are more important to people who can afford neither an expensive vehicle nor a house with private parking.

Persons: CNN — Tesla, ”, Tyson Jominy, Kia, Corey Cantor, Jim Farley, Farley, Jominy, Tesla, Carlos Tavares, Valdez Streaty, “, “ We’re Organizations: CNN, Ford, Cox Automotive, Bloomberg New Energy Finance, Kia, J.D, ” Ford, National Renewable Energy Laboratory, US Department of Energy, DOE, EV, BMW, GM, Honda, Hyundai, Benz, Stellantis, Dodge, Leasing Locations: United States, America, California, Canada, New York

☆ An accountant won $78 million in the lottery, but isn't quitting his job until he's wrapped up all his clients' taxes
▼ + stars: | 2024-02-22 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

A British accountant became a millionaire overnight after he and his wife won around £61 million ($78 million). The press release said that he would work until the end of the UK tax year, on April 5. Debbie Nuttall handed in her notice for her job as a civil engineer after finding out about the win, the press release said. AdvertisementRichard's decision to stay in work to wrap things up is a change when looking at lottery winners of the past. Emily Irwin, a financial advisor to lottery winners, previously told BI that winners have the best chance at protecting their winnings by forming a team of advisors and avoiding overspending.

Persons: —, wouldn't, Richard Nuttall, Debbie, Nuttall, Debbie Nuttall, Richard, Ben King, Emily Irwin, Irwin Organizations: Service, National Lottery, Daily Mail, Sky News, BMW Locations: British, Canary, Portugal

LOS ANGELES (AP) — Patrick Cantlay and Xander Schauffele first competed at cards on the long flight to Australia for the Presidents Cup. Cantlay was solid as ever Saturday in the Genesis Invitational until a soft bogey toward the end of the round that effectively cut his lead in half. The final group is Cantlay and Schauffele, a pair of Californians who are now neighbors in Florida. Cantlay is trying to join Max Homa (2021) and John Merrick (2013) as players from the greater Los Angeles area trying to win what amounts to a hometown event. “Being from southern California, it's one of the tournaments on the list that I'd like to win the most,” Cantlay said.

Persons: — Patrick Cantlay, Xander Schauffele, Schauffele, Will Zalatoris, Cantlay, Tiger Woods, Jordan Spieth, Zalatoris, ”, ” Cantlay, Woods, “, ” Schauffele, we’re, Didn’t, Luke List, Harris, Jason Day, Max Homa, John Merrick, ___ Organizations: ANGELES, Riviera, Tiger, “, BMW, Wilmington Country Club, Travelers, PGA, Ryder, Cup, UCLA, Virginia Country Club, Sherwood Locations: Australia, Florida, Zurich, New Orleans, Riviera, Los Angeles, Thousand Oaks, California

BLYTHEWOOD, S.C. (AP) — Scout Motors celebrated the start of construction on its $2 billion electric SUV plant in South Carolina on Thursday not with a line of people in suits with shovels but with a nod to the company's gasoline-powered past. People are leaving the Rust Belt and the snow and want to come here where there's economic freedom,” Republican South Carolina Gov. Scout Motors made gasoline-powered vehicles for about 20 years when it was owned by International Harvester. The Volkswagen-owned Scout Motors enters a growing, but uncertain U.S. market. But you have to plan without those things,” Scout Motors CEO Scott Keogh said.

Persons: ”, Christian Vollmer, Henry McMaster, Scott Keogh, Keogh Organizations: — Scout Motors, Scout, Fort Wayne , Indiana —, Volkswagen, South, Scout Motors, BMW, Volvo, Southeast ., Republican South Carolina Gov, International Harvester, Scouts, Republican, ” Scout Motors Locations: South Carolina, Fort Wayne , Indiana, Blythewood , South Carolina, Columbia, Greer, Charleston, Southeast

COLUMBIA, S.C. (AP) — The South Carolina House has given key approval to a bill allowing liquor stores to stay open on Sundays for a few hours if their local governments allow it. Supporters said it is time to update antiquated, centuries-old rules based on religion that designated Sunday as a day of rest. But liquor stores have remained closed. Only a handful of states still don’t allow liquor stores to open on Sunday, including North Carolina, Texas and Pennsylvania. “One of our long time values in South Carolina is a day of rest," said McCravy.

Persons: ”, Gil Gatch, “, John McCravy Organizations: COLUMBIA, South Carolina House, Republicans, Republican, Walmart, South Carolina, BMW Locations: South Carolina, Summerville, Carolina, South, U.S, North Carolina , Texas, Pennsylvania

☆ How satellite connectivity startup Skylo hooked backers such as Intel, BMW and Samsung to raise $37 million
▼ + stars: | 2024-02-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Silicon Valley space startup Skylo Technologies landed funding from the corporate venture arms of Intel, BMW and Samsung, as the company aims to bridge the gap between satellite and terrestrial communications. Skylo raised $37 million through an equity round, the company told CNBC, that was led by Intel Capital and Innovation Endeavors and joined by BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space. We just don't want extra hardware, because that adds complexity," Skylo CEO Parth Trivedi told CNBC. That way, Trivedi sees Skylo operating as a "roaming partner" to existing cellular networks, effectively rubber-stamping and linking devices made by other connectivity players. "You're going to find that this approach is very, very scalable, because the carriers don't have to change behavior, the users don't have to change behavior, the satellite operators don't have to change behavior, and regulators don't have to change behavior," Trivedi said.

Persons: Skylo, Parth Trivedi, Trivedi, Dave Johnson, They've, Johnson Organizations: Technologies, Intel, BMW, Samsung, CNBC, Intel Capital, Innovation, BMW i Ventures, Next47, Samsung Catalyst Fund, SoftBank, Qualcomm, MediaTek, Sony Locations: Mountain View , California

NEW YORK (AP) — Super Bowl Sunday is here — and, as always, there's a vast roster of advertisers ready to vie for fans' attention during game breaks. Airing a Super Bowl commercial is no easy feat. “This Super Bowl is a blast from the past. She added that “everything old is new again,” with successful Super Bowl ads or messages from the past making more returns this year. Of course, not all advertisers release their ads ahead of the game, so there will be surprises on Sunday.

Persons: ”, Linli Xu, Christopher Walken, Kate McKinnon, There’s, Jennifer Aniston, David Schwimmer, Uber, Judy ” Judy Sheindlin —, Gina Torres, Rick Hoffman, Sarah Rafferty, Patrick J, Adams, Gabriel Macht, Kimberly Whitler, “, Taylor Swift Organizations: University of Minnesota, Sunday's San Francisco 49ers, Kansas City Chiefs, CBS, Paramount, BMW, University of Virginia’s Darden School of Business, Mobile Locations: Sunday's, Labrador

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