Latest news with #luxurycarmaker
Yahoo
3 days ago
- Automotive
- Yahoo
Luxury carmaker fires shot at Tesla in robotaxi wars
Luxury carmaker fires shot at Tesla in robotaxi wars originally appeared on TheStreet. Tesla's () has been steering the robotaxi narrative for the longest time, but recently a brand new player quietly slid into the frame. Behind the scenes, one luxury EV maker just threw its hat into the race and is ready to challenge the status quo. 💵💰💰💵 At this point, it's not trying to out-Tesla Tesla, but instead aim for an entirely different lane. As we see partnerships evolving quickly and rivals repositioning, the road ahead for autonomous driving has become a lot more crowded and a lot more interesting. The robotaxi race just got real Robotaxis aren't science fiction anymore, as they turn into arguably the fastest-growing bet in the tech space. To put things in perspective, estimates suggest that the global market for autonomous ride services could explode from $4.4 billion this year to $125 billion by 2034. That's a massive 45% compound annual growth rate, led by cheaper sensors, smarter AI, and a major push to cut costs in urban transit. Tesla finally entered the game in June with the quiet launch of its invite-only Robotaxi service in Austin. The cars operate using Tesla's robust camera-only Full Self-Driving system, avoiding the need for expensive Light Detection and Ranging (lidar) and instead relying solely on vision and machine believes that's the edge Tesla needs in scaling a lot faster and cheaper than the competition. But it's still early days. We've already seen glitchy behavior, including phantom braking and navigation errors, which complicates the bullish thesis. Google's Waymo, on the other hand, is the veteran. It recently crossed the 100 million driverless miles mark with zero humans behind the wheel. Its coverage in cities like Phoenix and Austin dwarfs Tesla's footprint, giving it a massive data lead in improving its software. China's not sitting this out, either. has already dished out its seventh-gen robotaxi and is testing in multiple countries. WeRide, another robotaxi upstart, launched Southeast Asia's first fully autonomous robobus in Singapore, aiming to expand swiftly. And then there's Uber, which is effectively becoming the nerve center of the robotaxi era. In Atlanta, riders can now hail Waymo vehicles directly through Uber. Similarly, in Austin, Waymo's 90-square-mile service also runs on Uber's platform. More News: Moody's drops 2-word warning on housing market Rigetti shakes up quantum computing with bold advance JPMorgan reveals 9 stocks with major problems By owning the rider interface and centralizing fleet access, Uber is positioning itself as the gatekeeper for robotaxi adoption. Lucid takes its shot at Tesla in the robotaxi wars Lucid () just made a massive foray into the robotaxi arena, and Wall Street's starting to pay attention. Luxury EV maker Lucid is teaming up with Uber and autonomous tech firm Nuro to roll out 20,000 Gravity SUVs on Uber's network over the next six years. Each of these cars will be equipped with Nuro's Level 4 self-driving technology, signaling Lucid's largest leap yet into AI-powered mobility. Morgan Stanley's Adam Jonas hailed that partnership as 'strategic.'Jonas says this isn't your regular one-off announcement; it's a clear sign that Lucid is looking to carve out a key position in the robotaxi race that's been dominated by Tesla and Waymo. According to Jonas, Lucid has mostly been an under-the-radar player in the self-driving conversation. However, the Uber–Nuro deal could change that, helping the EV startup move beyond luxury retail and into recurring revenue streams. The Gravity SUV, Lucid's next blowout launch, now carries a lot more weight. Jonas feels the vehicle should be treated as a platform, not just for electric driving, but for autonomy and smart mobility partnerships. That makes the Uber deal a lot less about volume and more about signaling where Lucid is headed next. Uber is shelling out big money, with a $300 million investment in Lucid. That's not enough to solve the company's cash burn troubles, but it helps in a big way. Also, it puts Uber in a much stronger position to shape Lucid's roadmap. For a company that's been called a "Tesla-lite," this is Lucid's most ambitious pivot yet. Whether it pays off long-term is up for debate, but it's clear that Lucid just pulled up a seat at the lucrative robotaxi carmaker fires shot at Tesla in robotaxi wars first appeared on TheStreet on Jul 18, 2025 This story was originally reported by TheStreet on Jul 18, 2025, where it first appeared. 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
The Sun
3 days ago
- Automotive
- The Sun
Iconic supercar brand ‘bracing for more cost cutting' weeks after halting all sales of EVs in the UK
AN ICONIC supercar brand is reportedly bracing for more cost cutting after halting all sales of its electric motors in the UK. The luxury carmaker is seeking ways to offset declining sales in China and the escalating cost of US tariffs. 2 2 Porsche CEO, Oliver Blume, has initiated negotiations on another round of cost-cutting measures. Blume had already announced additional savings in March while presenting the firm's 2024 results. An excerpt of a letter sent to the company's leadership said: "In the second half of 2025, employer and employee representatives will negotiate a second structural package to secure the company's long-term performance." Blume wrote: "Our business model, which has served us well for many decades, no longer works in its current form." Details about what the possible savings measures might look like weren't included in the letter. Porsche has been particularly struggling with low sales in China. But the carmaker is also facing difficulties in the US where import duties of 27.5% on motors have been in place since April. The company doesn't have production facilities in the US, importing its cars exclusively from Europe instead. At the beginning of the year, Porsche had announced that it would cut 1,900 of around 40,000 jobs by 2029. This came after 2,000 temporary employees did not have their contracts renewed. Inside Dua Lipa's one-off 184mph Porsche 911 GT3 RS set to raise £100,000s for charity It's a fall from grace from the motor company which, at its 2022 stock market debut, was valued higher than parent company Volkswagen AG. Experts have linked the company's struggles to its overly aggressive and inflexible electrification strategy. Porsche has had a goal of being 80 per cent electric worldwide by 2030 But the brand dramatically halted all sales of one of its electric vehicles in the UK in May. The company mysteriously told its retailers to stop selling a specific batch of the electric sports car. Several main Porsche dealers were asked to remove a selection of electric Taycan models from sale. It followed a request from the Driver and Vehicle Standards Agency (DVSA) which manages motor recalls in the UK. The problem related to a previous recall issued in November by the DVSA which said it could pose a fire risk. that month too over the risk of the wheels falling off while driving. It issued a notice on three of its most popular models including the iconic 911. Owners were urged to "stop driving immediately".
