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News on Medial
Inside VW and Rivian’s big bet to rescue each other
Livemint
·
8m ago
Medial
Volkswagen (VW) will invest up to $5.8 billion in US startup Rivian, as part of a deal to address weaknesses for both companies in the electric vehicle (EV) market. VW gains access to Rivian's onboard computing and software technology, while Rivian gets much-needed cash. The collaboration aims to compete with EV companies like Tesla and Chinese manufacturers. VW plans to use the joint venture to develop digital controls for its passenger cars outside of China, while Rivian aims to open doors for further cooperation with other automakers.
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Rivian’s CEO talks R2 and R3 launch, and why he has ‘complete certainty’ EVs will win
The Verge
·
1y ago
Medial
Rivian CEO RJ Scaringe remains optimistic about the future of electric vehicles (EVs) and his company's role in the market. He believes that the entire world will eventually convert to EVs and is confident in Rivian's success. However, Scaringe acknowledges the challenges facing the industry, such as high interest rates, politicization of the transition, and inadequate charging infrastructure. Despite losing money on each vehicle, Scaringe hopes that Rivian's new models, particularly the more affordable R2, will appeal to a wider audience and increase EV adoption. Rivian is also addressing challenges through partnerships and cost-saving measures.
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How Big Tech sabotages rival startups — from the inside
Business Insider
·
1y ago
Medial
Big tech giants like Alphabet, Amazon, Apple, Meta, and Microsoft are using a practice called "co-opting disruption" to maintain their dominance and crush potential competition, according to a new paper by scholars Mark Lemley and Matt Wansley. Instead of acquiring startups, the tech giants are strategically investing in and supporting promising smaller companies, then steering them away from truly disruptive innovation and into projects that reinforce the status quo. This approach allows the tech giants to protect their own interests and slow down the pace of innovation by eliminating potential challengers. The paper suggests that regulators need to recognize and address this new form of anticompetitive behavior in order to promote a more competitive and innovative tech industry.
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Bengaluru startup joins Silkyara tunnel rescue mission with drones for area mapping
Economic Times
·
1y ago
Medial
Bangalore-based startup, Squadrone Infra and Mining, has joined the rescue operations at the Uttarkashi tunnel site in Uttarakhand. The company will deploy advanced drones equipped with geophysical and Emesent hovermap technology to map the area and assess the probabilities for a safe rescue. The drones are equipped with cutting-edge SLAM technology and AI capabilities, enabling comprehensive data generation for tunnel and mine geotechnical disturbances. Squadrone's team will work with a backend team in Bengaluru, providing real-time feedback and coordination for the rescue mission.
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Rivian’s lifeline is a $5 billion gamble for Volkswagen
Livemint
·
1y ago
Medial
Volkswagen and Rivian have announced a partnership aimed at addressing their respective weaknesses in the electric vehicle (EV) industry. Rivian, known for its well-reviewed EVs, struggles with financial losses, while Volkswagen, a scale manufacturer, faces challenges in developing cutting-edge EV software. The proposed joint venture will focus on the electrical architecture of EVs, connecting vehicle electronics through a software stack. Volkswagen will invest $5 billion in Rivian and the JV, potentially adding complexity to the organization. The success of the partnership will depend on effective collaboration and the ability to limit software investments to avoid waste and duplication.
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Nvidia backs little-known upstart in India’s biggest AI bet yet
Economic Times
·
1y ago
Medial
Yotta Data Services, an Indian startup, is placing a big bet on artificial intelligence (AI) by offering high-performance computing capabilities from data centers in India. The company is set to feature at Nvidia's developer conference in California, marking India's largest AI investment yet. Yotta aims to provide affordable access to Nvidia's AI chips and develop India-built AI models to cater to the growing demand in the country. With the global AI market projected to reach over $2 trillion by 2032, Yotta's move indicates the immense potential for AI outside of the US.
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Fisker loses potential Nissan deal, putting rescue funds at risk
TechCrunch
·
1y ago
Medial
Electric vehicle startup, Fisker, has terminated negotiations with a large automaker, rumoured to be Nissan, for a possible investment and collaboration. This development jeopardizes Fisker's near-term rescue funding effort. Despite announcing a potential $150 million convertible note last week, the company's stock plummeted 28% after the negotiations were terminated. Fisker has faced various challenges recently, including underperforming sales of its Ocean SUV, quality problems with delivered cars, and layoffs of around 200 staff members. Fisker is now exploring other strategic alternatives, including debt refinancing, asset sales, and potential tie-ups with other automakers.
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Ahmedabad Plane Crash: All flights suspended at Ahmedabad airport with immediate effect, operations halted
Economic Times
·
1m ago
Medial
Following an Air India plane crash in Ahmedabad on Thursday, all flight operations at Sardar Vallabhbhai Patel International Airport have been suspended. The Boeing 787, flying from Ahmedabad to London, crashed shortly after takeoff, with 242 people on board. Emergency services responded immediately as rescue operations are ongoing. The incident is under investigation, and authorities, including Aviation Minister Ram Mohan Naidu and Union Home Minister Amit Shah, are coordinating rescue and relief efforts.
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Caratlane founders, Singularity bet on Chennai developer
VCCircle
·
8m ago
Medial
Caratlane founders and Singularity Ventures are among three investors that have recently invested in Arihant Foundations and Housing Ltd, a real estate developer based in Chennai. The company plans to use the funding to expand its operations to other cities in South India. Led by founder Navratan Lunawat, Arihant Foundations and Housing specializes in the development of residential and commercial properties.
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CRPF deploys 150 personnel for rescue ops after Air India plane crash in Ahmedabad
Economic Times
·
1m ago
Medial
The Central Reserve Police Force (CRPF) deployed 150 personnel to assist in rescue operations following the crash of a London-bound Air India flight shortly after takeoff from Ahmedabad's Sardar Vallabhbhai Patel International Airport. The crash involved a Boeing 787-8 Dreamliner carrying 242 people and crashed near the airport perimeter, reportedly into a doctor's hostel. The Gujarat government also mobilized three National Disaster Response Force teams to support the ongoing rescue efforts.
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How Air India plane ended up exploding into a building in Ahmedabad; Watch video
Economic Times
·
1m ago
Medial
An Air India Boeing 787 Dreamliner plane heading to London crashed into a building in Ahmedabad shortly after takeoff from Sardar Vallabhbhai Patel International Airport. All 242 people onboard, including two pilots, were involved, with the crash resulting in a massive explosion. The plane issued a MAYDAY call, and the full fuel meant for its long-haul journey intensified the post-crash fire. Multiple rescue teams, including the NDRF, were deployed for rescue operations.
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