Here are two numbers that say a lot about how investors view two key electric vehicle startups: $232,000 and $89 billion.
Toyota Motor is finally jumping into the electric vehicle race while defending its continued focus on hybrids as the best way to reduce carbon emissions.
Why it matters: Toyota earned a reputation for environmental leadership with its Prius hybrid back in 1997. But lately, it has been eclipsed by Tesla, the world leader in electric vehicles.
After yesterday's infrastructure-bill signing, President Biden, Vice President Harris and Cabinet members are beginning a months-long road show to showcase the benefits — beginning with a Biden trip today to a bridge in Woodstock, N.H.
The big picture: In addition to coast-to-coast travel, the plan includes local and national TV, social media, and Spanish-language and African American focused media.
Driverless trucks can't arrive soon enough.
The Justice Department said on Wednesday that it is suing Uber for allegedly charging "wait time" fees to passengers with disabilities who need more time to get into vehicles.
State of play: The department's complaint says that Uber "violates the [Americans with Disabilities Act] by failing to reasonably modify its wait time fee policy for passengers who, because of disability, need more than two minutes to get in an Uber car."
The U.S. government's auto safety regulator announced Tuesday it would award over $24 million to a former Hyundai employee who reported key information about safety defects.
Why it matters: Engineer Kim Gwang-ho provided evidence that Hyundai and sister company Kia were hiding a design flaw that was causing engines to seize and catch fire, according to law firm Constantine Cannon, which represents Kim.
For airlines, one of the biggest remaining pieces of the recovery puzzle just fell into place — the ban that had killed most international travel lifted on Monday.
State of play: Stocks backing the U.S. airlines that most actively serve international markets — American, Delta and United — have surged by 13%-16% since President Biden signed the order on Oct. 25.
The country's first driverless trucks are now operating on local roads in Bentonville, Arkansas, shuttling merchandise for Walmart from a warehouse to a nearby store.
What's new: Walmart and its self-driving technology partner, Gatik, said today they had pulled the human safety driver from autonomous delivery trucks on a seven-mile route in the retailer's hometown — an industry first.
The big picture: Short urban routes are becoming more common as retailers like Walmart turn to hub-and-spoke distribution to fulfill growing online orders for same-day store pickup. Retailers need to be able to quickly move goods from micro-fulfillment centers to nearby stores.
What they're saying: “This milestone signifies a revolutionary breakthrough for the autonomous trucking industry,” said Gautam Narang, CEO and co-founder of Gatik, based in Mountain View, California.
Details: Four-year-old Gatik has been working with Walmart on middle-mile logistics in Bentonville since 2019, initially with both a safety driver and a second operator in the passenger seat.
The bottom line: Autonomous trucks are beginning to roll out.
Ford is arguably the most exciting electric-vehicle manufacturer in the U.S. at the moment. Even so, its market value is just 6% of Tesla's.
Why it matters: Ford's valuation is barely a rounding error compared to that of Tesla — indeed, Tesla's valuation rose by more than two Fords in a single day last month.
Electric air taxis might someday leap from rooftop to rooftop, delivering cargo or ferrying passengers above congested roadways — but not until they can solve a host of technical and regulatory hurdles.