After pouring more than $10 billion into its robotaxi venture, General Motors (GM) has decided to cut its losses and abandon its driverless ride-hailing service, Cruise. According to a recent Bloomberg report, GM will cease funding its Cruise division’s robotaxi development […]

The post GM exits robotaxi market after spending $10 billion on Cruise, shifting operations in-house first appeared on Tech Startups.

In November, SpaceX reportedly floated the idea of selling existing shares at $135 each, valuing Elon Musk’s space startup at $250 billion. Just two weeks later, the company is said to be discussing insider share sales that could push its […]

The post SpaceX eyes $350 billion valuation, setting the stage for Elon Musk to become the world’s first trillionaire first appeared on Tech Startups.

Tesla is widely regarded as one of the most sought-after tech employers, attracting millions of applications every year. In 2021 alone, the electric vehicle giant received an astounding 3 million job applications from hopeful candidates. With just 0.5% of applicants […]

The post From rejection to triumph: How a Tesla job applicant turned a setback into a full-time offer after 6 years of hard work first appeared on Tech Startups.

Just two months before President-elect Trump takes office, the Biden administration is rushing to allocate billions in taxpayer funds to support Rivian Automotive, a struggling electric vehicle startup grappling with unsold inventory and faltering demand. This decision follows a recent […]

The post Biden extends $6 billion lifeline to struggling EV startup Rivian amid growing unsold inventory on dealer lots first appeared on Tech Startups.

Just last week, we covered the collapse of Northvolt after its CEO and co-founder, Peter Carlsson, stepped down following a Chapter 11 bankruptcy filing. Once viewed as the driving force behind Europe’s electric car revolution, the Swedish EV battery startup […]

The post Northvolt, once a symbol of Europe’s electric car revolution, files for bankruptcy after burning through $10 billion in investor cash first appeared on Tech Startups.

With an estimated 85 million electric vehicles (EVs) expected on the road by the end of 2025, the demand for lithium is set to surge. However, traditional methods of lithium production come with significant environmental costs. These approaches require large […]

The post ElectraLith, a Rio Tinto-backed tech startup, nears $17.9M second funding round amid lithium market struggles first appeared on Tech Startups.

Northvolt’s CEO and co-founder Peter Carlsson stepped down on Friday, just a day after the company filed for U.S. Chapter 11 bankruptcy protection, according to a report from Reuters. The move marks a dramatic turn for what was once Europe’s […]

The post Northvolt’s Collapse: CEO steps down amid chapter 11 filing, $5.8 billion debt, and Europe’s battery dreams shattered first appeared on Tech Startups.