Latest news with #robotaxis
TechCrunch
21 hours ago
- Automotive
- TechCrunch
Federal regulators give Zoox an exemption for its custom-built robotaxis
The National Highway Traffic Safety Administration has given Zoox an exemption to demonstrate its custom-built robotaxis on public roads and closed a related investigation into whether the Amazon-owned company had sidestepped federal regulations. The decision, which was announced Wednesday, clears up a long-standing debate over whether Zoox's custom-built autonomous vehicles complied with federal motor vehicle safety standards, which place requirements on vehicles such as having a steering wheel and pedals. Zoox had argued that it did and announced in July 2022 that it had self-certified; NHTSA balked. The agency opened an investigation in March 2023 to look into the matter, and specifically the process and data that Zoox had used to self-certify. The investigation didn't slow Zoox's development and testing of its autonomous vehicle technology. In early 2023, Zoox began testing its custom-built robotaxis, which don't have a steering wheel or other traditional controls, on public roads near its Fremont, California headquarters. The company has since expanded its testing footprint to Las Vegas and San Francisco. Zoox does not operate a commercial service yet. For now, the exemption allows Zoox to demonstrate the robotaxis, not operate them commercially. NHTSA's announcement is connected to its new national framework, which the agency argues will make it easier for companies to deploy autonomous vehicles without traditional manual driving controls — like steering wheels, pedals, and sideview mirrors — at scale. The framework, known as AV STEP (or ADS-Equipped Vehicle Safety, Transparency and Evaluation Program), allows NHTSA to green-light the sale and commercialization of autonomous vehicles that are not compliant with federal safety standards due to a lack of manual controls. The revised process involves an expedited application that allows companies like Zoox to receive exemptions for testing and demonstrations, and eventually, commercial operations. Zoox spokesperson Whitney Jencks said in an email that Zoox is working in close cooperation with NHTSA on this process, beginning with the demonstration exemption and followed by the commercial exemption. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise on August 7. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW As part of the agreement, NHTSA has closed its investigation into Zoox's self-certification of its AVs. Zoox has agreed to remove or cover all statements that its purpose-built vehicles comply with applicable Federal Motor Vehicle Safety Standards.
Yahoo
a day ago
- Automotive
- Yahoo
Tesla Under Fire for 'Overpromising and Underdelivering,' Top Investor Says
Tesla (TSLA, Financials) has lost more than a fifth of its value this year as slowing EV sales and doubts over Elon Musk's big promises weigh on investor sentiment. Musk has talked up robotaxis for years, but top investor Stone Fox Capital says the rollout is far from the fully autonomous future he sells and may not get there anytime soon. Stone Fox points to a limited number of supervised taxis, falling global market share, and a lofty valuation that assumes a 43% jump in earnings by 2026. With a forward P/E of 128x, the stock leaves little room for error. If Tesla keeps overpromising and underdelivering, the investor warns, shares could head lower. Analysts are split: 13 Buys, 15 Holds, and 8 Sells give Tesla a consensus Hold rating, with a $305.37 average price target suggesting little upside. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Automotive
- Yahoo
Tesla grants Musk massive pay deal to keep CEO on board amid legal battle
On Monday, Tesla granted CEO Elon Musk a new $29 billion pay deal aimed at keeping the billionaire entrepreneur at the helm as the company pivots from its struggling electric vehicle business to robotaxis and humanoid robots. The company described the "interim award" of 96 million new shares as a "good faith" payment to honor the more than $50 billion pay package from 2018 that was struck down by a Delaware court last year. Under the terms of the award, Musk can claim the shares if he remains a top executive at Tesla for another two years and a court doesn't reinstate the 2018 package that is currently under appeal. Musk also has to hold the shares for five years and can buy them for $23.34 per share, the same as the exercise price of his 2018 award. Teslas Continue To Be Vandalized Despite Ceo Elon Musk's Fallout With White House Tesla is also planning to put forward a longer-term CEO compensation plan at its annual investor meeting on Nov. 6. Read On The Fox Business App The move is intended to keep Musk, the public face of Tesla and the architect of its robotaxi strategy, focused on the EV maker as it undergoes a strategic pivot. It also comes amid speculation that the Tesla board's patience with Musk could be wearing thin because of the billionaire's political activism and tumultuous time working with the Trump administration. Musk Gave $15M To Support Trump, Republicans After White House Split, Called For New Party Weeks Later Sales have been falling at the company amid a tough competitive landscape and a stagnant vehicle lineup. Musk's political involvement and his wider business empire – including artificial intelligence startup xAI and space exploration firm SpaceX – have also prompted concerns about his focus on Tesla, which is the main source of his wealth. He has threatened to leave the company unless he gets more control over Tesla. Elon Musk Ally Who Worked On Doge Leaves Government With the new stock award, Musk's stake in Tesla would grow from its current level of 12.7%, the largest among stockholders, to 15%, according to Reuters calculations based on data compiled by LSEG. The move to give Musk more significant control of the company's board still sees him as the best-suited leader to address the company's challenges in the years ahead. Prior to Monday's grant, Musk had no active compensation plan, and Tesla said he hadn't received meaningful pay since 2017. The board said that with the legal fight over the 2018 package expected to continue, the interim award is a means of retaining Musk's "extraordinary talent." Reuters contributed to this article source: Tesla grants Musk massive pay deal to keep CEO on board amid legal battle
Yahoo
2 days ago
- Automotive
- Yahoo
Lyft partners with Baidu to launch robotaxi services in Europe
US ride-hailing company Lyft has teamed up with China's Baidu to deploy robotaxis across Europe, with plans to begin operations next year. This collaboration marks Baidu's first entry into the European self-driven taxi market. Lyft will deploy Baidu's Apollo Go autonomous vehicles (AVs) on its platform across key European markets. The initial rollout will take place in Germany and the UK, featuring Baidu's electric RT6 robotaxis operating on Lyft's platform, pending regulatory approval. Baidu's Apollo Go service currently operates over 1,000 vehicles across 15 cities globally and has completed more than 11 million rides. The plan aims to scale to thousands of vehicles across Europe in the coming years, leveraging Lyft's recent acquisition of European mobility app FreeNow. This acquisition gave Lyft access to operations in nine countries and over 180 cities, marking its first expansion beyond North America. Under the terms of the partnership, Lyft will manage the platform, overseeing customer services and fleet logistics, while Baidu will supply the autonomous vehicles and provide technical expertise. The RT6 model is a fully-electric, purpose-built vehicle that incorporates the Apollo Autonomous Driving Foundation Model (ADFM). Upon launch, customers will be able to book RT6 rides directly through the Lyft ecosystem. Baidu CEO, chairman, and co-founder Robin Li said: "By integrating Baidu's cutting-edge autonomous driving technology with Lyft's platform reach and operational expertise, we're excited to deliver safer, greener, and more efficient mobility solutions to more users." Lyft CEO David Risher stated: "Our partnership with Baidu is all about creating a great customer experience. 'It's part of our hybrid network approach, where AVs and human drivers work together to provide customer-obsessed options for riders. And importantly, we're committed to working hand-in-hand with local regulators to ensure we deploy these vehicles in their communities in a smart, thoughtful way that benefits everyone." Last month, Baidu and Uber Technologies announced that they would be deploying thousands of Apollo Go AVs on the Uber platform in various markets worldwide, excluding mainland China and the US. "Lyft partners with Baidu to launch robotaxi services in Europe" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 days ago
- Automotive
- Yahoo
China's Baidu to deploy robotaxis on rideshare app Lyft
Chinese internet giant Baidu plans to launch its robotaxis on rideshare app Lyft in Germany and Britain in 2026, pending regulatory approval, the two companies said on Monday. Last month, Baidu announced a similar agreement with Uber in Asia and the Middle East as it seeks to take pole position in the competitive autonomous driving field both at home and abroad. Lyft and Baidu said Monday that "in the following years" the fleet of Apollo Go driverless cars will be expanded to thousands of vehicles across Europe. They did not specify which other countries the cars would be deployed in, and it was not clear how long it might take to gain regulatory approval for the initial deployment. Driverless taxis are already on some roads with limited capacity in the United States and China, most notably in the central city of Wuhan, where a fleet of over 500 can be hailed by app in designated areas. Their reach is spreading, with Shanghai's financial district Pudong recently announcing a batch of permits for multiple companies to operate robotaxis. China's tech companies and automakers have poured billions of dollars into self-driving technology in recent years, with intelligent driving the new battleground in the country's cutthroat domestic car market. Baidu is not alone among Chinese companies in searching to expand its foothold abroad. Its rival WeRide is also active in the Gulf region, and in January announced it had been picked to lead a small pilot project in Switzerland. another Chinese company, said in May that it had signed a deal to launch its self-driving taxis on Uber in "a key market in the Middle East later this year". San Francisco-based Lyft in April said it had agreed to buy German taxi app Freenow, planting a flag in the European market. The acquisition marked Lyft's "most significant expansion outside North America", the group said. isk/reb/lb
