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Automotive Tech Billionaire to Acquire Majority Stake in Forbes

The deal struck by 28-year-old Austin Russell values the business publication at close to $800 million. The deal struck by 28-year-old Austin Russell values the business publication at close to $800 million. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are…

Tesla Recalls Roughly 362,800 Vehicles to Fix ‘Full-Self Driving’ Beta Software

Tesla Inc. TSLA -5.00% is recalling 362,800 vehicles equipped with its high-profile advanced-driver assistance feature, a technology marketed as Full Self-Driving Beta, in response to regulatory pressure, the U.S. top car-safety agency said.In a notice published Thursday, the National Highway Traffic Safety Administration said that some Teslas in rare circumstances could violate local traffic laws, potentially increasing the risk of a collision if a driver fails to…

TuSimple Plans Layoffs That Could Cut at Least Half Its Workforce Next Week

Self-driving trucking company TuSimple Holdings Inc. TSP -3.75% plans to cut potentially at least half of its workforce next week, people familiar with the matter said, as it scales back efforts to build and test autonomous truck-driving systems.A staff reduction of that size would likely affect at least 700 employees, the people said. As of June, TuSimple had 1,430 full-time employees globally. It has operations in San Diego, Arizona, Texas and China. The retrenchment…

Regulators Launch Probe of GM’s Cruise Autonomous-Driving System

U.S. auto-safety regulators have launched an investigation into the autonomous-driving system used by General Motors Co. GM -2.95% ’s driverless-car unit.The National Highway Traffic Safety Administration said in a filing made public Friday that it had received notices of incidents in which vehicles from GM’s Cruise LLC division might engage in inappropriately hard braking or stall while operating on public roads. The agency said it received three reports of crashes…

Honda Plans New Autonomous Features but Sees Long Road Ahead to Self-Driving Cars

HAGA, Japan— Honda Motor Co. HMC -0.37% said it would focus for now on partially autonomous driving technology to improve safety, adding itself to the list of auto makers that say fully self-driving cars aren’t ready for prime time. The Japanese auto maker, an investor in General Motors Co. ’s Cruise self-driving unit, this week showed off a prototype system that allows a car to automatically overtake…

GM’s Cruise Seeks Regulatory OK to Test Shuttle With No Steering Wheel

GM’s Cruise LLC division in August submitted an application to the California Department of Motor Vehicles, requesting permission to test its Origin driverless vehicle on San Francisco streets, according to a copy of the document obtained through a public records request. The California DMV began reviewing the application in late October, according to emails reviewed by The Wall Street Journal as part of the request. In its application, Cruise said it would begin test runs of the electric Origin in a confined area of San…

Slow Self-Driving Car Progress Tests Investors’ Patience

After years of ambitious targets and bold promises, investors are growing impatient with the pace of driverless-car development, applying pressure on an industry that had become accustomed to latitude and piles of cash from investors.Auto makers in recent weeks scaled back plans for the technology amid new pressure to curb expenses during an economic slowdown. An influential hedge fund also has questioned Google-parent Alphabet Inc.’s GOOG -1.38% yearslong effort to…

Investors Are Losing Patience With Slow Pace of Driverless Cars

After years of ambitious targets and bold promises, investors are growing impatient with the pace of driverless-car development, sending shock waves through an industry that had become accustomed to latitude and piles of cash from investors.Auto makers in recent weeks scaled back plans for the technology amid new pressure to curb expenses during an economic slowdown. An influential hedge fund also has questioned Google-parent Alphabet Inc.’s GOOG -1.29% yearslong effort…

Volkswagen’s New CEO Puts Self-Driving Car Plans Under Review

BERLIN— Volkswagen AG VOW -0.05% Chief Executive Oliver Blume has put plans for a self-driving vehicle under review in the first sign since his appointment two months ago that he is walking back some of his predecessor’s most ambitious technology ventures. Mr. Blume is likely to delay the Trinty self-driving electric car project and could cancel plans to build a new factory for the vehicle near its…

Activist Investor TCI Calls on Google Parent Alphabet to Slash Costs

Activist hedge fund TCI Fund Management called on Google parent Alphabet Inc. GOOG 2.80% to aggressively cut costs and reduce losses in long-term bets such as the self-driving car unit Waymo, claiming the company would be more efficient with fewer employees.London-based TCI, which said it owned Alphabet shares worth more than $6 billion, made the requests in a letter to Chief Executive Sundar Pichai on Tuesday, writing that it has been a…