logo
Uber and VW Team Up to Bring Robotaxis to a US City Near You

Uber and VW Team Up to Bring Robotaxis to a US City Near You

Yahoo14-05-2025

Volkswagen and Uber are teaming up to deploy a fleet of thousands of all-electric, fully autonomous robotaxis.
The companies said in a press release Thursday that the ID Buzz AD minivans will launch in "multiple" US markets over the next decade, starting in Los Angeles next year. Testing is expected to begin later this year, the companies said.
Initially, however, the vehicles won't be fully autonomous. Human operators will be on board "to help refine the technology and ensure safety," the companies said in a joint statement.
The fleet will be equipped with sensors and software from MOIA, Volkswagen's autonomous mobility subsidiary.
Before the rollout can begin, the companies will need to secure the appropriate permits and clearances from the state of California.
The collaboration marks a major step in Uber's autonomous vehicle ambitions and Volkswagen's push to commercialize its self-driving platform. It also comes at a time when more self-driving taxis are hitting the road. Waymo, the driverless division of Google's parent company, Alphabet, continues to expand into new cities, from Austin to Tokyo.
According to Michael Ramsey, an analyst at the research firm Gartner, the concept of robotaxis is starting to make a comeback.
"If you stretch your mind back 10 years ago, a lot of companies were pretty bullish about this technology being widespread by 2020," he told CNET. "That obviously didn't happen, but now the technology has improved and come down a lot in price. I expect that we begin to see true commercialization over the next year or two."
Meanwhile, Tesla is also working on both robotaxis and a so-called Robovan -- a larger autonomous vehicle designed to transport up to 20 passengers or carry cargo. Earlier this week, Tesla tweeted that it had recently completed over 1,500 trips and 15,000 miles using its full self-driving vehicles. Its supervised ride-hailing service is already live for select employees in Austin and the San Francisco Bay Area. On its earnings call Tuesday, the company said it plans to expand the service to the public in Austin as early as June.
It's unclear which other markets Volkswagen and Uber are targeting. The companies did not immediately respond to a request for comment.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tesla's China-Made EV Sales Drop Y/Y in May: Is Price War a Suspect?
Tesla's China-Made EV Sales Drop Y/Y in May: Is Price War a Suspect?

Yahoo

time26 minutes ago

  • Yahoo

Tesla's China-Made EV Sales Drop Y/Y in May: Is Price War a Suspect?

Tesla's TSLA sales of China-made EVs continued to decline for the eighth consecutive month in May due to intensifying price wars in the world's largest auto market. Per the China Passenger Car Association data, combined domestic and export deliveries to Europe and other markets of the Model 3 and Model Y dropped 15% year over year in May to 61,662 units, following a drop of 6% in April. Tesla's EV sales slump persisted across much of Europe last month, primarily due to its aging lineup and the negative impact of CEO Elon Musk's political involvement on consumer boost demand in China, its largest market in the first quarter, Tesla allowed smart-assisted driving features to be transferred to new vehicles in China starting in late May and continuing through the end of June. Additionally, the Model 3 and Model Y were included in a government initiative promoting EV adoption in rural areas for the first time this year. TSLA carries a Zacks Rank #5 (Strong Sell) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks which triggered a price war in 2023 that now involves more than 40 brands and shows no signs of easing, is under pressure from new, competitively priced EVs offering strong performance. China has called for an end to aggressive price wars, especially after BYD Company Limited BYDDY introduced new incentives on more than 20 models in late May, leading Geely Automobile Holdings Limited GELYY and Chery to adopt similar measures. BYD, Tesla's key contender, slashed the price of its cheapest model, the pure battery-powered Seagull EV, to 55,800 yuan. BYD's global passenger car sales rose 14.1% year over year in May, but the growth slowed from April's 19.4%.Geely Auto, an auto manufacturer based in Hangzhou, China, also reduced prices, offering discounts between 9,000 yuan and 16,000 yuan on selected models, such as the Xingyuan EV and entry-level Galaxy E8 sedan. Through these limited-time promotions, which ended June 1, Geely Auto aimed to stimulate sales, reduce inventory and benefit from government incentives intended to support EV transitions. Tesla has underperformed the Zacks Automotive-Domestic industry year to date. TSLA shares have lost 17.8% compared with the industry's decline of 14.8%. Image Source: Zacks Investment Research From a valuation perspective, Tesla appears overvalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 10.23, higher than its industry's 2.75. Image Source: Zacks Investment Research The Zacks Consensus Estimate for 2025 and 2026 EPS has moved down 13 cents and 16 cents, respectively, in the past 30 days. Image Source: Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report Geely Automobile Holdings Ltd. (GELYY) : Free Stock Analysis Report Byd Co., Ltd. (BYDDY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Inicia sesión para acceder a tu portafolio

Wonder, Marc Lore's food tech startup, is planning to go public in early 2028
Wonder, Marc Lore's food tech startup, is planning to go public in early 2028

Yahoo

time26 minutes ago

  • Yahoo

Wonder, Marc Lore's food tech startup, is planning to go public in early 2028

Billionaire entrepreneur and Wonder CEO Marc Lore has confirmed that his food and restaurant technology startup is planning for an initial public offering. Why you're catching the 'ick' so easily, according to science Uber's new senior mode aims to remove barriers for aging riders How to watch the NBA Finals 2025: Pacers vs. Thunder, live online or on TV, including free options And though it won't happen right away, he offered a very specific time frame. 'We're going to IPO [and we're] kind of working backwards from March 30, 2028,' Lore said on Thursday at Fast Company's Most Innovative Companies Summit in New York. 'Whether we hit it or not, we will see.' He added that a full board of directors will be in place and that the restaurant technology startup wants to 'look and act like a public company' by the end of next year in preparation for the future offering. 'So all of 2027, we get four quarters of practice,' Lore said. 'That was really important to me to get four quarters of practice where we're giving EPS [earnings per share] guidance, having quarterly earnings calls, doing the comp committee, treating it like a public company. So when we go public in Q1 of 2028, we've already had that muscle.' He predicted an accelerating growth rate for the business, continuing through 2028 with $5 billion in revenue, and additional 'big growth' in 2029. Wonder, which Lore has described as a kind of 'Amazon for food and beverage,' has brick-and-mortar restaurants and a vertically integrated food delivery app. Lore is working to revolutionize the food and restaurant space by building a 'superapp for mealtime'—one that blends food delivery, AI-driven nutrition, and smart restaurant tech. The company most recently secured $600 million in a funding round backed by Google Ventures, for a post-funding valuation of $7 billion, according to PitchBook. Wonder ranks No. 45 on Fast Company's World's Most Innovative Companies list for 2025. The ultimate goal? To become the platform that meets all your food needs while embracing personalized dining, driven by AI, Lore said. The startup has also acquired a number of food companies, including Blue Apron, Grubhub, and the media brand Tastemade. When asked by Mansueto Ventures CEO Stephanie Mehta why an IPO is the goal, Lore replied, 'I am really excited about having that public currency.' The entrepreneur has founded a number of notable companies, including which he sold to Walmart nine years ago. 'I think there's so much growth and potential in this business that we could put a lot of capital to work, even post-IPO,' Lore said. 'I'm excited to do some big acquisitions.' This post originally appeared at to get the Fast Company newsletter: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Tesla Stock Falls Amid Musk Vs Trump Feud
Tesla Stock Falls Amid Musk Vs Trump Feud

Yahoo

time26 minutes ago

  • Yahoo

Tesla Stock Falls Amid Musk Vs Trump Feud

Tesla TSLA shares had their worst day since March, falling 14% on Thursday as the feud between Elon Musk and President Trump continues to heat up, and is making international headlines. In the aftermath of his 130-day term ending as a special government employee, Musk has publicly criticized the Trump administration's budget reconciliation bill after previously heading the Department of Government Efficiency (DOGE). Despite losing favoritism in the White House, Tesla shareholders have previously called on Musk to focus his attention back on the leading EV maker amid declining sales. Underlying this is that having a CEO push a political agenda had disrupted public sentiment, with Tesla facing significant losses of more than $100 million this year regarding vandalism at its dealerships and EV charging stations, which spilled over from nationwide protests targeting Elon Musk. This also created a somewhat unnecessary way for General Motors GM and Ford F to potentially take more share of the domestic EV market, with the public outcry of the 'Tesla Takedown' movement coming as the DOGE cut thousands of federal jobs at the discretion of the world's wealthiest person. Adding fury to Musk's frustration with President Trump's budget reconciliation bill is that it will eliminate tax credits for electric vehicles that have benefited Tesla and other EV manufacturers, while undermining his cost-cutting efforts as head of the DOGE. However, harsh criticism and a personal vendetta against the Trump administration could, of course, make Tesla the target of harsher EV regulations in the U.S., with the President threatening to take away the company's government contracts. Furthermore, this comes on the heels of recent reports that Tesla's sales have continued to decline in Europe, as sales in May fell 45% year over year in the U.K. and 36% in Germany amid rising competition from Chinese EV brands such as BYD and XPeng XPEV. Notably, BYD has surpassed Tesla as the top-selling EV brand in Europe. Most concerning to technical traders is that TSLA has fallen below its 50-day simple moving average (Green Line) of $292 a share, which is lower than its 200-day SMA (Red Line) of $310 due to the recent volatility in the stock. Generally, the 200-day SMA is lower than the 50-day SMA when a stock is in an uptrend and higher than the 50-day SMA when a stock is in a downtrend, as in Tesla's case. Image Source: Zacks Investment Research Also suggesting more risk ahead for Tesla stock, and correlating with news of declining sales in Europe, is that fiscal 2025 and FY26 EPS estimates are noticeably lower in the last month and have now dropped 25% and 18% over the last 60 days, respectively. Image Source: Zacks Investment Research Considering the short-selling strategy has paid off with TSLA of late, with it noteworthy that Tesla has led the Zacks Short Sale List with +20% gains after borrowing shares at $358.91 on Tuesday, May 27. Image Source: Zacks Investment Research The back-and-forth spat between Elon Musk and President Trump won't do any favors for Tesla's outlook. Unfortunately, TSLA lands a Zacks Rank #5 (Strong Sell) at the moment in correlation with the trend of declining earnings estimate revisions. Eventually, this could end up being a lucrative buying opportunity for TSLA down the road, but a dispute between the world's most powerful and wealthiest person could drag down the broader market as well, with Tesla dragging the Nasdaq down roughly 1% on Thursday. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA) : Free Stock Analysis Report Ford Motor Company (F) : Free Stock Analysis Report General Motors Company (GM) : Free Stock Analysis Report XPeng Inc. Sponsored ADR (XPEV) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store