Autonomous vehicles not far off for B.C. roads, once officials allow them
Autonomous vehicles are on the streets of a growing number of U.S. and United Kingdom cities, and the artificial intelligence behind the technology has 'really turned a corner,' according to Jamie Shotton, chief scientist for the company Wayve.
Shotton was on one of two panels that discussed advances in autonomous transportation during the tech conference Web Summit at the Vancouver Convention Centre on Thursday.
'It's like a lightbulb has gone off in the AI's brain,' Shotton said of his company's artificial intelligence-powered system. 'It's now able to really cope with remarkable complexity, and furthermore it allows us to scale really quickly.'
This spring, Wayve brought a trio of its test cars to Vancouver during a West Coast road trip to prove how well their 'AI driver' is learning to cope with complex environments.
'The more places we go, the more places we learn to drive, the more general purpose (the AI driver) gets,' Shotton said.
Wayve isn't completely driverless yet, however. The Society of Automotive Engineers classifies automated driving in levels from L0, where a driver is in complete control with automated warnings of hazards, all the way to L5, where AI is completely in control.
Shotton described Wayve as 'L2-plus,' which means the use of automatic braking, steering and lane centring in adaptive cruise control, with a driver at the wheel.
'Hands off, but eyes on,' he added. 'Having to pay attention to the road, but you can take your hands off the wheel and it will drive you from point A to point B.'
That falls within B.C.'s rules, which prohibits automated systems higher than L2.
Getting to L4, which allows for cars to be driverless under specific conditions — the technology used in so-called 'robo taxis' such as Waymo — is probably closer than people realize, even in rainy cities such as Vancouver, said Edwin Olson, CEO of the company May Mobility.
Olson spoke during a second session on the conference's centre stage, and in an interview explained that, 'Our rule of thumb is, if the windshield wipers are intermittent, you're probably fine.'
'If they're going faster than that, I think most (autonomous vehicle) companies would balk at that.'
Technology is rapidly improving though, and Olson expects by 2027, 'We'll be able handle almost all the weather you can throw at us.'
The difference in the technology, Olson said, is that a decade ago, the 'hype was well before the technical reality' for autonomous transportation.
'Now, I think it's the other way around,' Olson added. 'Right now, what you're really seeing is an inflection point.'
People can travel to cities such as San Francisco, Los Angeles or Atlanta and ride either Waymo robo taxis or May Mobility's shuttles, 'and it's real,' Olson said.
The next step for a wider rollout of light-duty vehicles will be devising business cases for using what will be expensive vehicles, which will likely rule out strictly personal use.
When a reporter asked if he saw a case for individual ownership soon, his answer was, 'God, I hope not.'
The philosophy of Olson's company, which runs fleets of L4-capable Toyota Sienna shuttle vans in 19 cities (but only two locations without safety drivers), is to use autonomous vehicles in a way that reduces the need for individual automobile ownership.
To date, the business cases for autonomous vehicles has been stronger in industries such as mining or trucking, where the products involved are high value, but where getting enough drivers might be an issue, said Qasar Younis, CEO of the company Applied Intuition, who spoke on the same panel as Olson.
For light-duty vehicles, 'it's going to be pure economics,' Olson added. And that will be based on whether vehicles can command enough revenue from ride-hailing services such as Lyft or Uber to pay for the cost of expensive sensors used in the vehicle, before the car wears out.
depenner@postmedia.com
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Tom's Guide
6 hours ago
- Tom's Guide
I dreamed of flying cars, but the automotive reality of 2035 is even more revolutionary
Artificial Intelligence | Smart Glasses | Wearable TechSmartphones | iPhones | Robots | Cars | TVs Much like most millennials growing up in the 80s, I dreamt of a future where flying cars rule the sky. However, that didn't turn out to be the case as 2015 came and went with my memories about how Back to the Future Part II painted a world with skyways and automated aerial vehicles. The world in 2035 is less than a decade away, and while there's still a certain level of obscurity about what's plausible when it comes to car tech, relentless innovation could get us one step closer to reaching that vision of the future. From fully automated self-driving cars, infrastructural shifts in power delivery, and even how we buy vehicles, cars in 2035 will look a lot different than what they do today. Where we're going, there will probably still be roads — but it's how we get to our destination that will have the biggest changes. I'll explain what's in the realm of possibility. I've tested more than 30+ vehicles in the last year, ranging from electric cars that run super quiet to plug-in hybrids that give drivers a taste of both worlds. I've driven luxury models too that make it more convenient than ever before to drive thanks to smart cruise control. By 2035, fully autonomous driving vehicles should be more widespread than what it is today. There's a lot involved to achieve Level 5, which according to the SAE International (Society of Automotive Engineers) is full driving automation that doesn't involve human interaction. I've experienced intelligent driving with today's adaptive smart cruise control systems, like the one in the Cadillac Lyriq that will change lanes all on its own, but true driving autonomy goes much deeper. "There's still a lot of uncertainty whether Lidar will be necessary to reach Level 5 autonomy, which is a huge debate and still a considerable added cost.' One of the biggest challenges is coordinating all the different systems for full automation in an EV to happen seamlessly. Currently, the most reactive advanced driver-assistance system (ADAS) I've experienced in a commercially available EV comes from Rivian, which leans on various sensors, high-quality cameras with deep dynamic range, and advanced processing algorithms. 'Because we have full end-to-end ownership of the code and models that run on-vehicle, we're able to rapidly deploy advancements developed for LLMs to our own Large Driving Model (LDM),' explains James Philbin, VP of Autonomy and AI at Rivian. 'The Rivian LDM gets better with every software update, which drives customer delight, trust and adoption. I've seen how reactive the Rivian R1S and R1T are with being aware of their nearby surroundings, but Level 5 autonomy would require deeper intelligence — in such a way vehicles could be anticipatory. Anshel Sag, principle analyst with Moor Insights & Strategy. believes that Level 5 will be achievable by 2035, but it wouldn't be as widespread. 'ADAS needs to become faster, cheaper, and lower power, which it isn't today, if we want to reach level 5 autonomy,' explains Sag. 'High-end ADAS solutions are still computationally costly and limited to mostly high-end vehicles or models, said Sag. 'There's still a lot of uncertainty whether Lidar will be necessary to reach Level 5 autonomy, which is a huge debate and still a considerable added cost.' I share many of these concerns with current implementations, especially when adaptive cruise control systems are largely added options as opposed to being standard. The systems in place right now do a good job of understanding the localized environment, like what cars are around, but they lack the vision to see farther down the road. Sony-Honda's Afeela 1 has an ambitious goal of reaching Level 3 autonomy when it launches in 2026, which would have the ability to take complete control of the vehicle's driving — but human intervention would be a fallback in the event the system can't operate correctly. Level 5, on the other hand, wouldn't require any operation from a human passenger. Earlier this summer, the Xpeng G7 was launched in China as a direct Tesla Model Y competitor in China, where it intends to show off its autonomous driving capabilities. What's interesting is how AI can be leveraged to deliver autonomous driving that reacts to complex conditions. 'The World Foundation Model is the key to XPENG's rapid development of advanced assisted driving, explained He Xiaopeng, Chairman and CEO of Xpeng. 'This technological breakthrough is embodied in our latest SUV XPENG G7, the world's first AI-powered vehicle equipped with an L3 computing platform.' This model leans on AI to adapt to complex driving conditions in real time. There's clearly a lot of data coming in from various systems, which is why effective computing power is needed. I'm very optimistic about reaching Level 5 autonomy by 2035, which won't only be a technological revolution in my opinion, but a societal one as well. Just think: it would give the ability to use the time for other things, like catching up on work or bingeing that new show on Netflix. Meanwhile, those with disabilities, accessibility challenges, and aging adults could still have some form of mobility to get around. Today's best electric cars have a lot of features that make the in-car experience remarkable. From big and expansive touchscreens that adorn the dashboard, to more premium features like head-up displays that show key information in the windshield, the interiors are increasingly becoming more immersive. However, the biggest change to the in-car experience won't necessarily come down to the aesthetics or hardware — but rather, how AI will become a central part of it. 'In-vehicle voice assistants today provide easy access to information while helping to keep the driver focused, and these assistants will only continue to evolve,' explains General Motors. But so far, there hasn't been a whole lot of innovation around this yet, but I think it's only a matter of time until it's ubiquitous by 2035. We've already reported how Android Auto 14.0 teases Google Gemini integration, but it's unknown at this point how car makers would allow AI Agents, such as Gemini, to have deeper access to these in-car experiences. While I think it'd be easy to lean on AI to ask for restaurant recommendations along a route, it's another to give these AI agents access to key car functions. The biggest change to the in-car experience won't necessarily come down to the aesthetics or hardware — but rather, how AI will become a central part of it. While some EVs have a ton of buttons all around the dashboard, there are others that go the minimalist route. Either way, I still find it confusing to do simple things like adjusting my seat, turning on the AC, and even figuring out how to open the trunk. 'I think that's where AI should come in. AI should be helping the driver understand what information is important and relevant to the driver without overloading the driver with too many distractions,' explained Sag. The deeper issue will center around how much access car makers will give to these 'outside' AI agents. This is at the center of the debate between cars that offer Android Auto or CarPlay, versus automakers that use their own in-house infotainment systems. At the very least, I think it would be a service to all drivers for car makers to invest heavily in AI with their in-car experiences. So, rather than going through all the steps to adjust the air conditioning settings, I could simply ask AI to do it, including different temps for the front and back if I wanted. And why not do a few things at once? I could just say 'defog the windshield, order my Starbucks favorite for pick up and fire up the latest episode of 'Smartless' on Spotify,' and my car would know what to do. Apart from cost, the other hurdle that EVs continue to face is range — which is a valid concern because the most efficient EVs I've tested still don't come close to matching the range offered by hybrid cars. However, there's been a lot of innovation around this in the last decade and I suspect it to be less of a concern by 2035. EVs like the Lucid Air Pure already prove how they're equipped to handle long distance driving with a range of up to 419 miles on a single charge, but battery tech will still require a fair amount of innovation. That's why the type of battery matters. Most EVs use lithium-ion batteries, but there's an ongoing battle between what solid-state batteries could come out on top. One leading candidate for this is General Motors and LG Energy Solution efforts around commercializing lithium manganese-rich (LMR) prismatic battery cells. 'I think that GM and LG's LMR tech could help with larger vehicles and that should hit the market in 2028, likely replacing its current Ultium platform,' says Sag when asked about battery innovations. 'We are already starting to see Silicon Anode gain some traction in consumer products, providing an additional 20% of battery density and some are exploring that for automotive applications.' 'We're adding new battery chemistries and form factors to our portfolio that deliver the optimal mix of range, performance, and cost for different EV segments,' explains GM. 'One example is our pioneering work on lithium manganese-rich (LMR) battery cells, which deliver up to 33% higher energy density than leading lithium iron phosphate (LFP) cells — at a comparable cost.' Besides developing new solid state batteries, there's also the challenge of charging them. With today's solutions, Level 3 charging offers faster DC speeds that can easily give most EVs full charges in about 30 minutes — but that does very little to convince those used to the instantaneous fill-ups with gasoline. 'As the charging infrastructure continues to evolve, becoming both more powerful and more reliable, it will effectively eliminate "range anxiety', and open the door for broader EV adoption.' Both NACS (North American Charging Standard) and CCS (Combined Charging System) standards are more accessible now than what they were 5 years ago, but even as more EV charging stations crop up across the country, the charging tech needs to keep pace. There are already car makers that are in development with 800V architectures, which aim to cut charging time in half. Rather than spending tens of minutes to charge, 800-volt charging could whittle it down to just a few minutes. 'As the charging infrastructure continues to evolve, becoming both more powerful and more reliable, it will effectively eliminate "range anxiety', and open the door for much broader EV adoption,' states Wassym Bensaid, Chief Software Officer at Rivian. This isn't much of a problem in major cities and the towns surrounding them, but there are still big pockets around the country where EV charging stations are few and far between. Back to the Future Part 2 reeled me into this idea of flying cars in the future, but that's not something I think will be practical by 2035 — especially when it comes to commercial solutions for your average Joe. It's still going to remain largely science fiction, sadly enough, even though there has been movement in this area. Today's flying cars are nothing like they're portrayed in the movies. Instead, these so-called flying cars look more like oversized drones than actual cars. Instead of rocket boosters or some other sci-fi propulsion tech you see in movies, these flying cars lean on propellers for aerial lift. Take the Xpeng Land Aircraft Carrier, which was previewed at CES 2025. It has much more in common with today's commercial drones used by hobbyists than the flying pods portrayed in 'The Jetsons.' However, it's not coming to the U.S. — and for good reason too. There's just a lot more involved with flying cars, and while there have been startups that received FAA approval, like Alef Aeronautics' Model A, the average person still wouldn't be able to fly them. That's because flying these eVTOL (electric vertical take-off and landing) flying cars would likely require a pilot's license. The FAA is constantly changing and adapting regulations to keep up with all this, but don't count on the average person taking control of a flying car any time soon. There's a substantial amount of training and flight time required before being issued one, let alone the cost of acquiring one. Xpeng CEO, He Xiaopeng, doesn't directly reveal the company's plans for its flying vehicles, but I think it's intriguing to note the company's other ambitions — like how it's currently utilizing an 800V high-voltage SiC platform with its EVs. 'We have utilized a lithium iron phosphate battery platform to achieve a full-range 800V high-voltage SiC platform, 5C ultra-fast charging AI battery, and an exceptional range of 702 km.' Given how there are weight concerns for flying vehicles, trimming out as much as possible would only increase their efficiency. 'I'm not sure we're anywhere near a place where [a flying car] can be used by the average person anytime soon,' explains Sag. 'Flying anything requires considerably higher skill, awareness and training and the only way I see it working is autonomously.' I consider myself a confident drone pilot, but I wouldn't willingly hand over the controls of my drone to a total stranger whose never flown one. Flying cars that we personally own and control might not be a reality in 2035, but I could see how eVTOLs could be used for autonomous applications with human transport. Flying a predefined flight path is already easy enough for most hobbyist drones, like the DJI Mini 4 Pro, so I suspect we'll see these "flying cars" primarily as part of air taxi services or for commercial deliveries. They'd be operated autonomously or remotely piloted by a licensed professional. While the dream of personal aerial vehicles soaring through the sky like in Back to the Future may remain a distant fantasy, the more practical reality of air mobility as a service, operated by trained experts or autonomously, is a much more probable future. • Artificial Intelligence • Smart Glasses• Wearable Tech• Smartphones • iPhones• Robots• Cars• TVs
Yahoo
7 hours ago
- Yahoo
Trump tariffs live updates: Nvidia and AMD agree to unusual revenue deal, China deadline looms
Nvidia (NVDA) and AMD (AMD) have agreed to pay the US 15% of the revenue for certain chip sales to China, adding a monetization layer to the Trump administration's tariff policy that has reoriented global trade relationships. 'To call this unusual or unprecedented would be a staggering understatement,' Stephen Olson, a former US trade negotiator, told Bloomberg. 'What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export. If that's the case, we've entered into a new and dangerous world.' The chips reportedly include Nvidia's H20 AI accelerator and AMD's MI308 chips, which the Trump administration had previously targeted with export controls. Also on Sunday, President Trump urged China to quadruple soybean purchases ahead of an Aug. 12 deadline to either extend a tariff pause or allow higher tariff rates on Chinese goods entering the US to kick in. Trump's latest sweeping "reciprocal" tariffs hit US trade partners last week. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Why Trump's soybean ask of China is 'highly unlikely' China is the world's largest soybean buyer, with nearly a quarter of those purchases coming from the US (and most of the rest coming from Brazil). President Trump's statement that he hopes "China will quickly quadruple its soybean orders" would require China to import the vast majority of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the US," Johnny Xiang, founder of Beijing-based AgRadar Consulting, told Reuters. Read more here. US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Swiss economy seen weathering Trump's tariff shock for now Bloomberg News reports: Read more here. Commentary: Tariffs are denting profits, and maybe soon your portfolio With over two-thirds of companies having reported earnings, Yahoo Finance found more than four dozen large firms saying tariffs are impacting their businesses in some material way. Yahoo Finance's Rick Newman reports: Read more here. A 240-year-old Swiss watchmaker's race to beat Trump's tariff deadline It was a chaotic week for the 240-year-old Swiss watch manufacturer DuBois et fils, as the company rushed to ship watches before President Trump's surprise 39% tariff rate on Switzerland went into effect on Thursday. It was a race against time for DuBois CEO Thomas Steinemann and his company to ship five high-end watches to the US before blocking orders on its US website. Overall, the US accounts for 17% of Switzerland's watch exports. As of April, goods from the country faced a much lower 10% tariff rate. Reuters reports: Read more here. Tariffs are starting to squeeze farmers' profits President Trump has said he loves farmers, but his policies are starting to ripple across the agriculture industry. Trump's tariff policies, in particular, are beginning to raise the cost of machinery and fertilizers, weighing on profits. Bloomberg reports: Read more here. The US has slapped a 39% tariff on Switzerland, leaving the country's leaders reeling Bloomberg took a deep dive looking at how the tariff negotiations between the Trump administration and Switzerland began with promise, but eventually led to the US slapping a devastating 39% levy on the country: Read more here. Trump says US court ruling against tariff authority 'would be 1929 all over again' Yahoo Finance's Alexis Keenan reports: Read more here. Carney is patching up ties with Mexico in face of Trump threats Canadian Prime Minister Mark Carney is working to repair relations with Mexico as both nations prepare for the fallout from US tariffs. Canrey recently met with Mexican President Claudia Sheinbaum and various corporate executives. Bloomberg reports: Read more from Bloomberg here. Swiss plane maker Pilatus halts business jet deliveries to US over tariffs Swiss aircraft manufacturer Pilatus said it temporarily stopped deliveries of its PC-12 and PC-24 business jets to the US after President Trump imposed a punishing 39% tariff rate on imports from Switzerland. "The new customs tariff imposed by the US authorities represents a significant competitive disadvantage for Pilatus," the privately held company said. From Reuters: Read more here. Under Armour forecasts downbeat quarterly sales, shares drop Under Armour (UA) stock slumped 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. China defends buying Russian oil after Trump's tariff threat China defended its purchase of Russian oil on Friday, pushing back against President Trumps threat to impose higher tariffs on Beijing for buying energy from Moscow. Trump warned both China and India this week and said he would impose higher tariffs on the nations if they didn't stop buying oil from Russia. The US president followed through on his threat by slapping an additional 25% tariff on India, bringing the total to 50%. Bloomberg News reports: Read more here. Gold bar tariff surprise gives new blow to Switzerland The US has imposed tariffs on imports of 1kg and 100oz gold bars, unleashing fresh turmoil in the global bullion market. The move threatens trade from Switzerland and other major refining centers. US Customs and Border Protection confirmed that these gold bars are now subject to tariffs, contradicting earlier industry expectations. The Financial Times first reported this change. Bloomberg reports: Read more here. Japan says US confirms car levy cuts and end to stacking The US has confirmed it would end stacking of universal tariffs on Japan and cut car levies, according to Tokyo's trade negotiator Ryosei Akazawa. Bloomberg News reports: His comments following talks with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent provided some relief amid doubts over the details of the trade deal reached between the two countries last month. The US officials expressed regret that the stacking rule had been applied to Japan despite a verbal agreement, and said Washington would refund any overpaid levies, he said. No time frame was agreed for the implementation, Akazawa said after the meetings. There has so far been no official comment on the latest meetings from the US side. Read more here. Germany's auto association says EU-US trade deal must take effect now Reuters reports: US expects $50B a month in tariff revenues, Lutnick says US Commerce Secretary Howard Lutnick said on Thursday that the US expects $50 billion a month in from tariff revenue as higher duties take effect. Reuters reports: Read more here. India's state refiners pause Russia oil buys as US adds pressure India's state owned oil refiners have started to pull back in their purchase of Russian oil, according to sources. President Trump said this week he will apply a 50% tariff on India due to its Russian oil buys, 25% of that kicks in today. Bloomberg News reports: Companies including Indian Oil Corp. ( Bharat Petroleum Corp. ( and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle, until there's clear government guidance, said the people, who asked not to be identified as they aren't authorized to speak publicly. That will affect buying of the Russia's Urals cargoes for October-loading, they added. The global oil market has zeroed in on India's crude purchasing after President Donald Trump doubled the levy on all Indian exports to the US as a direct punishment for the country's refiners taking Russian crude. The escalation — which hasn't yet been matched by similar action against China, another major buyer — is meant to pressure on Moscow to end the war in Ukraine. Read more here. When soccer and tariffs collide Swiss political figures are calling on FIFA's head honcho, Gianni Infantino, to help sway President Trump when it comes to tariffs. The FT reports: Read more here. Apple expands 18-year-old iPhone glass deal in bid to avoid Trump tariffs Apple (AAPL) CEO Time Cook is trying to stay in President Trump's good graces, but the tactics he's using are far from new. Apple stock climbed on Thursday premarket by almost 3% on its latest investment announcement. Bloomberg News reports: Read more here. Confusion over tariff stacking hampers Japan's bid to pin down US trade deal Bloomberg News reports: Read more here. Why Trump's soybean ask of China is 'highly unlikely' China is the world's largest soybean buyer, with nearly a quarter of those purchases coming from the US (and most of the rest coming from Brazil). President Trump's statement that he hopes "China will quickly quadruple its soybean orders" would require China to import the vast majority of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the US," Johnny Xiang, founder of Beijing-based AgRadar Consulting, told Reuters. Read more here. China is the world's largest soybean buyer, with nearly a quarter of those purchases coming from the US (and most of the rest coming from Brazil). President Trump's statement that he hopes "China will quickly quadruple its soybean orders" would require China to import the vast majority of its soybeans from the U.S. "It's highly unlikely that China would ever buy four times its usual volume of soybeans from the US," Johnny Xiang, founder of Beijing-based AgRadar Consulting, told Reuters. Read more here. US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Swiss economy seen weathering Trump's tariff shock for now Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Commentary: Tariffs are denting profits, and maybe soon your portfolio With over two-thirds of companies having reported earnings, Yahoo Finance found more than four dozen large firms saying tariffs are impacting their businesses in some material way. Yahoo Finance's Rick Newman reports: Read more here. With over two-thirds of companies having reported earnings, Yahoo Finance found more than four dozen large firms saying tariffs are impacting their businesses in some material way. Yahoo Finance's Rick Newman reports: Read more here. A 240-year-old Swiss watchmaker's race to beat Trump's tariff deadline It was a chaotic week for the 240-year-old Swiss watch manufacturer DuBois et fils, as the company rushed to ship watches before President Trump's surprise 39% tariff rate on Switzerland went into effect on Thursday. It was a race against time for DuBois CEO Thomas Steinemann and his company to ship five high-end watches to the US before blocking orders on its US website. Overall, the US accounts for 17% of Switzerland's watch exports. As of April, goods from the country faced a much lower 10% tariff rate. Reuters reports: Read more here. It was a chaotic week for the 240-year-old Swiss watch manufacturer DuBois et fils, as the company rushed to ship watches before President Trump's surprise 39% tariff rate on Switzerland went into effect on Thursday. It was a race against time for DuBois CEO Thomas Steinemann and his company to ship five high-end watches to the US before blocking orders on its US website. Overall, the US accounts for 17% of Switzerland's watch exports. As of April, goods from the country faced a much lower 10% tariff rate. Reuters reports: Read more here. Tariffs are starting to squeeze farmers' profits President Trump has said he loves farmers, but his policies are starting to ripple across the agriculture industry. Trump's tariff policies, in particular, are beginning to raise the cost of machinery and fertilizers, weighing on profits. Bloomberg reports: Read more here. President Trump has said he loves farmers, but his policies are starting to ripple across the agriculture industry. Trump's tariff policies, in particular, are beginning to raise the cost of machinery and fertilizers, weighing on profits. Bloomberg reports: Read more here. The US has slapped a 39% tariff on Switzerland, leaving the country's leaders reeling Bloomberg took a deep dive looking at how the tariff negotiations between the Trump administration and Switzerland began with promise, but eventually led to the US slapping a devastating 39% levy on the country: Read more here. Bloomberg took a deep dive looking at how the tariff negotiations between the Trump administration and Switzerland began with promise, but eventually led to the US slapping a devastating 39% levy on the country: Read more here. Trump says US court ruling against tariff authority 'would be 1929 all over again' Yahoo Finance's Alexis Keenan reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. Carney is patching up ties with Mexico in face of Trump threats Canadian Prime Minister Mark Carney is working to repair relations with Mexico as both nations prepare for the fallout from US tariffs. Canrey recently met with Mexican President Claudia Sheinbaum and various corporate executives. Bloomberg reports: Read more from Bloomberg here. Canadian Prime Minister Mark Carney is working to repair relations with Mexico as both nations prepare for the fallout from US tariffs. Canrey recently met with Mexican President Claudia Sheinbaum and various corporate executives. Bloomberg reports: Read more from Bloomberg here. Swiss plane maker Pilatus halts business jet deliveries to US over tariffs Swiss aircraft manufacturer Pilatus said it temporarily stopped deliveries of its PC-12 and PC-24 business jets to the US after President Trump imposed a punishing 39% tariff rate on imports from Switzerland. "The new customs tariff imposed by the US authorities represents a significant competitive disadvantage for Pilatus," the privately held company said. From Reuters: Read more here. Swiss aircraft manufacturer Pilatus said it temporarily stopped deliveries of its PC-12 and PC-24 business jets to the US after President Trump imposed a punishing 39% tariff rate on imports from Switzerland. "The new customs tariff imposed by the US authorities represents a significant competitive disadvantage for Pilatus," the privately held company said. From Reuters: Read more here. Under Armour forecasts downbeat quarterly sales, shares drop Under Armour (UA) stock slumped 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. Under Armour (UA) stock slumped 12% before the bell on Friday after the sportswear maker forecast second-quarter revenue below Wall Street estimates. The company is grappling with muted demand in North America due to still-high inflation and tariff uncertainty. Reuters reports: Read more here. China defends buying Russian oil after Trump's tariff threat China defended its purchase of Russian oil on Friday, pushing back against President Trumps threat to impose higher tariffs on Beijing for buying energy from Moscow. Trump warned both China and India this week and said he would impose higher tariffs on the nations if they didn't stop buying oil from Russia. The US president followed through on his threat by slapping an additional 25% tariff on India, bringing the total to 50%. Bloomberg News reports: Read more here. China defended its purchase of Russian oil on Friday, pushing back against President Trumps threat to impose higher tariffs on Beijing for buying energy from Moscow. Trump warned both China and India this week and said he would impose higher tariffs on the nations if they didn't stop buying oil from Russia. The US president followed through on his threat by slapping an additional 25% tariff on India, bringing the total to 50%. Bloomberg News reports: Read more here. Gold bar tariff surprise gives new blow to Switzerland The US has imposed tariffs on imports of 1kg and 100oz gold bars, unleashing fresh turmoil in the global bullion market. The move threatens trade from Switzerland and other major refining centers. US Customs and Border Protection confirmed that these gold bars are now subject to tariffs, contradicting earlier industry expectations. The Financial Times first reported this change. Bloomberg reports: Read more here. The US has imposed tariffs on imports of 1kg and 100oz gold bars, unleashing fresh turmoil in the global bullion market. The move threatens trade from Switzerland and other major refining centers. US Customs and Border Protection confirmed that these gold bars are now subject to tariffs, contradicting earlier industry expectations. The Financial Times first reported this change. Bloomberg reports: Read more here. Japan says US confirms car levy cuts and end to stacking The US has confirmed it would end stacking of universal tariffs on Japan and cut car levies, according to Tokyo's trade negotiator Ryosei Akazawa. Bloomberg News reports: His comments following talks with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent provided some relief amid doubts over the details of the trade deal reached between the two countries last month. The US officials expressed regret that the stacking rule had been applied to Japan despite a verbal agreement, and said Washington would refund any overpaid levies, he said. No time frame was agreed for the implementation, Akazawa said after the meetings. There has so far been no official comment on the latest meetings from the US side. Read more here. The US has confirmed it would end stacking of universal tariffs on Japan and cut car levies, according to Tokyo's trade negotiator Ryosei Akazawa. Bloomberg News reports: His comments following talks with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent provided some relief amid doubts over the details of the trade deal reached between the two countries last month. The US officials expressed regret that the stacking rule had been applied to Japan despite a verbal agreement, and said Washington would refund any overpaid levies, he said. No time frame was agreed for the implementation, Akazawa said after the meetings. There has so far been no official comment on the latest meetings from the US side. Read more here. Germany's auto association says EU-US trade deal must take effect now Reuters reports: Reuters reports: US expects $50B a month in tariff revenues, Lutnick says US Commerce Secretary Howard Lutnick said on Thursday that the US expects $50 billion a month in from tariff revenue as higher duties take effect. Reuters reports: Read more here. US Commerce Secretary Howard Lutnick said on Thursday that the US expects $50 billion a month in from tariff revenue as higher duties take effect. Reuters reports: Read more here. India's state refiners pause Russia oil buys as US adds pressure India's state owned oil refiners have started to pull back in their purchase of Russian oil, according to sources. President Trump said this week he will apply a 50% tariff on India due to its Russian oil buys, 25% of that kicks in today. Bloomberg News reports: Companies including Indian Oil Corp. ( Bharat Petroleum Corp. ( and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle, until there's clear government guidance, said the people, who asked not to be identified as they aren't authorized to speak publicly. That will affect buying of the Russia's Urals cargoes for October-loading, they added. The global oil market has zeroed in on India's crude purchasing after President Donald Trump doubled the levy on all Indian exports to the US as a direct punishment for the country's refiners taking Russian crude. The escalation — which hasn't yet been matched by similar action against China, another major buyer — is meant to pressure on Moscow to end the war in Ukraine. Read more here. India's state owned oil refiners have started to pull back in their purchase of Russian oil, according to sources. President Trump said this week he will apply a 50% tariff on India due to its Russian oil buys, 25% of that kicks in today. Bloomberg News reports: Companies including Indian Oil Corp. ( Bharat Petroleum Corp. ( and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle, until there's clear government guidance, said the people, who asked not to be identified as they aren't authorized to speak publicly. That will affect buying of the Russia's Urals cargoes for October-loading, they added. The global oil market has zeroed in on India's crude purchasing after President Donald Trump doubled the levy on all Indian exports to the US as a direct punishment for the country's refiners taking Russian crude. The escalation — which hasn't yet been matched by similar action against China, another major buyer — is meant to pressure on Moscow to end the war in Ukraine. Read more here. When soccer and tariffs collide Swiss political figures are calling on FIFA's head honcho, Gianni Infantino, to help sway President Trump when it comes to tariffs. The FT reports: Read more here. Swiss political figures are calling on FIFA's head honcho, Gianni Infantino, to help sway President Trump when it comes to tariffs. The FT reports: Read more here. Apple expands 18-year-old iPhone glass deal in bid to avoid Trump tariffs Apple (AAPL) CEO Time Cook is trying to stay in President Trump's good graces, but the tactics he's using are far from new. Apple stock climbed on Thursday premarket by almost 3% on its latest investment announcement. Bloomberg News reports: Read more here. Apple (AAPL) CEO Time Cook is trying to stay in President Trump's good graces, but the tactics he's using are far from new. Apple stock climbed on Thursday premarket by almost 3% on its latest investment announcement. Bloomberg News reports: Read more here. Confusion over tariff stacking hampers Japan's bid to pin down US trade deal Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Sign in to access your portfolio
Miami Herald
a day ago
- Miami Herald
Tesla just got its biggest break yet in the robotaxi wars with a key permit
Every so often, Tesla (TSLA) makes a headline-grabbing move that seems more like a turning point hiding in plain sight. No flashy event, just a subtle permit that could potentially become the foundation for something much bigger in the robotaxi race. Don't miss the move: Subscribe to TheStreet's free daily newsletter And while the EV giant has massive long-term ambitions, this one could open up a path to a business that might rewrite the rules of an entire sector. In the robotaxi space, where a first-mover advantage can make or break the competition, this step could be massive as Tesla moves from talking about the future to building it. Tesla's robotaxi ambitions began in Texas back in late June, when it launched a paid, invitation-only pilot in Austin. The early program was operated within a tight geofenced zone, with the first users reporting long waits and limited coverage. However, since then, Tesla has expanded quickly, and as per its Phase 3 rollout, it has reportedly doubled the geofence, testing and refining its Full Self-Driving (FSD) v12 software in live service. Related: Jim Cramer delivers straight talk on tricky S&P 500 market Still, the road's been anything but smooth, led by multiple lawsuits and regulators keeping a close eye on matters. Also, reporting suggests that Tesla has shelved its in-house Dojo AI training project, opting for external computing resources. Competition is fierce, too. Google's Waymo remains the U.S. leader, operating its driverless fleet across roughly 250 square miles in Los Angeles and the San Francisco Bay Area. Also, Phoenix is still active, and with Dallas now coming online through a partnership with Avis, Waymo is set to go beyond its recent feats (completing a million rides recently). Uber is taking a much different route, working as an aggregator instead of building its own autonomous vehicle. It's already integrating Waymo rides in Austin and Atlanta, and inked a massive, multi-year deal with Lucid and Nuro to deploy over 20,000 autonomous Lucid Gravity SUVs over six years. Lucid's Gravity-based robotaxi, equipped with Nuro Driver, recently began closed-circuit autonomous testing and is eyeing launch in the first city via Uber's platform. The AV race is also heating up overseas. Baidu's Apollo Go is running a fully driverless service in 10+ Chinese cities, while secured permits for paid rides in Shanghai. Similarly, upstarts like DiDi and WeRide are preparing for major expansions into newer global markets. Though forecasts differ, analysts agree that the robotaxi industry is set for explosive expansion over the next few years. Goldman Sachs projects that the global robotaxi rideshare market could potentially grow by an estimated 90% compound annual growth rate through 2030. In China alone, Goldman expects the market to hit close to $12 billion by 2030 and $47 billion by 2035. That effectively translates to 500,000 vehicles in service by 2030 and 2.3 million by 2035. Related: Surprising AI chip stock is up 90% in 30 days (and still climbing) Grand View Research offers a similar view, estimating the global market to grow from $1.95 billion in 2024 to a whopping $43.7 billion by 2030, a CAGR of about 73.5%. Early traction suggests that demand is likely to come to fruition, especially with Waymo already delivering millions of rides, and by late 2024, it was handling roughly 100,000 rides a week across its service areas. For Tesla, the stakes are even higher. Cathie Wood's ARK Invest argues that without a viable robotaxi business, Tesla's long-term valuation will be significantly lower. Elon Musk has repeatedly cited autonomy as Tesla's defining product roadmap. If Tesla can match or exceed Waymo's operational scale while clearing regulatory and safety bottlenecks, the payoff could be transformative. Tesla just checked off a major box in its push to dominate the robotaxi space. The EV behemoth just secured a critical rideshare license in Texas, which clears the way for its Robotaxi service to operate in the state. The breakthrough puts Elon Musk's company in the same regulatory category as Uber and Lyft, but without the human driver. More News: Veteran analyst drops 6-word verdict on Apple's $100 billion investmentBank of America drops shocking price target on hot weight-loss stock post-earningsJPMorgan drops 3-word verdict on Amazon stock post-earnings Also, the timing effectively lines up with a shift in the state's law. Starting September 1, Texas will need autonomous rideshare services to meet the same regulatory standards as traditional ones. That includes mandatory cameras, insurance coverage, and adhering to traffic laws, which adds another layer of accountability to the whole operation. The license builds on Tesla's recent Robotaxi pilot in Austin. With Texas in the bag, Tesla is looking at Nevada, Arizona, California, and Florida next. These states have been a lot more open to the daunting autonomous driving technology. Tesla's regulatory woes are far from settled, but the Texas license marks a major step toward its CEO's vision for a driverless future. Related: Morgan Stanley resets AMD stock price target after earnings The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
