David Welch

Business, Technology, Fuel, Autonomous

Electric Last Mile Gets 45,000 Van Orders Amid E-Commerce Boom

Electric Last Mile van Electric Last Mile Inc.

Electric Last Mile Inc., the plug-in delivery van startup that’s in the process of merging with blank check company Forum Merger III Corp., said it has 45,000 preorders and will start production at the former Hummer plant in Indiana in the third quarter.

David Welch | Bloomberg News
March 16, 2021
Business, Technology, Fuel, Autonomous

GM-Backed Cruise Buys Self-Driving Startup Voyage

A Cruise Origin electric driverless shuttle

Cruise, the self-driving technology company that’s majority-owned by General Motors Co., said it acquired autonomous-vehicle startup Voyage, which operates a service in retirement communities.

David Welch | Bloomberg News
March 15, 2021
Business, Technology, Fuel

Lordstown Motors Sinks as Firm That Targeted Nikola Takes Aim

The Lordstown Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News) The Lordstown Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News)

Lordstown Motors Corp. plunged the most in five months after the short-seller whose attack on Nikola Corp. led to its founder’s departure turned its sights on the electric truck startup.

David Welch | Bloomberg News
March 12, 2021
Business, Technology, Autonomous

Lidar Startup AEye Goes Public in $2 Billion SPAC Deal

AEye branded auto AEye Inc. via Facebook

AEye Inc., a startup that makes lidar systems for self-driving vehicles, is going public by merging with blank-check company CF Finance Acquisition Corp. III in a deal valued at $2 billion.

David Welch | Bloomberg News
February 17, 2021
Business, Technology, Fuel

GM’s Mary Barra Boosts Stock as Tech Story Gains Credibility

GM CEO Mary Barra talks with reporters following a meeting with lawmakers at the U.S. Capitol in June 2019. GM CEO Mary Barra talks with reporters following a meeting with lawmakers at the U.S. Capitol in June 2019. (Chip Somodevilla/Getty Images via Bloomberg News)

All General Motors Co. CEO Mary Barra needed to hit a stock record was $27 billion and a bit of braggadocio.

David Welch | Bloomberg News
January 20, 2021
Business, Technology, Autonomous

GM, Microsoft Lead $2 Billion Funding Round for Cruise

A Cruise autonomous vehicle. (David Paul Morris/Bloomberg News) (David Paul Morris/Bloomberg News)

General Motors Co. and Microsoft Corp. are leading a $2 billion investment round in self-driving car startup Cruise in a deal that will bring the software giant’s cloud and edge-computing capabilities to the venture.

David Welch | Bloomberg News
January 19, 2021
Business, Technology, Fuel

GM Changes Corporate Logo to Plug Its EV Strategy

GM's new logo keeps the blue box, but moves to lowercase script to appear more modern. GM's new logo keeps the blue box, but moves to lowercase script to appear more modern. (GM)

General Motors Co. is changing its corporate logo for the first time in 56 years, giving it a new lowercase script that is designed to look more modern.

David Welch | Bloomberg News
January 8, 2021
Business, Technology, Autonomous

Cruise Hires Former Delta Air Executive Gil West as COO

GM's Bolt electric vehicle, with Cruise's autonomous technology installed, is displayed in Detroit. GM's Bolt electric vehicle, with Cruise's autonomous technology installed, is displayed in Detroit. (Paul Sancya/Associated Press)

Cruise, the self-driving car startup majority owned by General Motors Co., has hired former Delta Air Lines Inc. Chief Operating Officer Gil West for the same position as it prepares to start offering paid robotaxi rides in San Francisco.

David Welch | Bloomberg News
January 8, 2021
Business, Technology

Trevor Milton Plans to Remain Top Nikola Owner Post-Lockup Expiration

Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. Signage is displayed outside Nikola Corp. headquarters in Phoenix on Sept. 15. (Ash Ponders/Bloomberg News)

Trevor Milton said he remains committed to his Nikola Corp. holding and doesn’t plan to relinquish his position as its largest shareholder even though a restriction has been lifted, addressing speculation that he could divest of his stake in the company he founded and resigned from.

David Welch | Bloomberg News
December 8, 2020
Business, Technology, Autonomous

GM’s Cruise, Walmart Team Up for Driverless Delivery

A Cruise autonomous vehicle is seen with a Walmart-branded bag outside it. Cruise is just the latest partner for Walmart, which has been doing similar self-driving car tests with Waymo and Nuro, as well as pilot programs for drone delivery. (Walmart)

Walmart Inc. is about to team up with Cruise, the self-driving car unit majority-owned by General Motors Co., to experiment with delivering customer orders using driverless vehicles.

David Welch | Bloomberg News
November 10, 2020

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