July 30, 2021
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Towing company agrees to pay troops for illegally selling their vehicles
Sangamon County Board to vote on first phase of transportation center
This Is the Deadliest Car in the U.S., According to Data
Charleston’s Ashley River bicycle-pedestrian bridge project making strides | News
HAAH Automotive Goes Bust, Abandons Plans To Import Chinese Cars To America
These Cars Are Out of Production and Discontinued for 2022
Bouchard Transportation’s Tugs and Barges Auctioned Off
Car chip shortage to abate, smartphones could be next: industry execs
New York Jets assistant coach dies following bicycle accident
Lightyear One Electric Sedan To Be Produced By Valmet Automotive
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Towing company agrees to pay troops for illegally selling their vehicles Sangamon County Board to vote on first phase of transportation center This Is the Deadliest Car in the U.S., According to Data Charleston’s Ashley River bicycle-pedestrian bridge project making strides | News HAAH Automotive Goes Bust, Abandons Plans To Import Chinese Cars To America These Cars Are Out of Production and Discontinued for 2022 Bouchard Transportation’s Tugs and Barges Auctioned Off Car chip shortage to abate, smartphones could be next: industry execs New York Jets assistant coach dies following bicycle accident Lightyear One Electric Sedan To Be Produced By Valmet Automotive
Jul
2021
24

Uber to buy logistics company Transplace for $2.25 billion

Uber Freight, the rideshare company’s trucking division, said Thursday it’s acquiring shipping software company Transplace in a deal that values the transportation logistics company at $2.25 billion.

Uber shares were slightly positive Thursday morning.

Uber Freight will acquire Transplace from TPG Capital, the private equity platform of alternative asset firm TPG that acquired Transplace in 2017. The deal consists of of up to $750 million in common stock of Uber and the remainder in cash.

It’s a rare move for Uber, which has spent the last year shedding its profit-eating self-driving unit and flying taxi segment. Instead, Uber has been choosing to pour billions into strengthening its Uber Eats segment, acquiring alcohol delivery company Drizly and food delivery service Postmates.

Uber Freight chief Lior Ron said in an interview on CNBC’s “TechCheck” that the deal is a continuation of the company’s long-term vision, which is to bring digital transformation to the industry. Transplace makes software that helps companies manage their supply chains to ship goods. The company claims it operates one of the largest software platforms for supply chain management and logistics in the world.

Uber Freight, a separate division of Uber, offers similar software tools to manage supply chains and shipping. Uber Freight says it has over 70,000 carriers on its network that can ship items for companies.

Uber Freight booked $301 million in revenue in the first quarter of this year, up 51% year over year. Despite the growth, Uber Freight contributes just a small slice of Uber’s overall revenue, the bulk of which comes from rides and food delivery.

The deal is expected to help Uber’s trucking division reach profitability. The company said it could help the segment break even on an adjusted EBITDA basis by the end of 2022.

The deal is still subject to regulatory approval.

Uber is a six-time CNBC Disruptor 50 company. Sign up for our weekly, original newsletter that offers a closer look at CNBC Disruptor 50 companies like Uber, before they go public.

Jun
2021
21

Flying Car Makers Want to Build ‘Uber Meets Tesla in the Air’

It was sleek, cone-shaped, a little confusing — like something Hollywood would give a sci-fi villain for a quick getaway.

It wasn’t a helicopter. And it wasn’t an airplane. It was a cross between the two, with a curved hull, two small wings, and eight spinning rotors lined up across its nose and tail.

At the touch of a button on a computer screen under a nearby tent, it stirred to life, rising up from a grassy slope on a ranch in central California and speeding toward some cattle grazing under a tree — who did not react in the slightest.

“It may look like a strange beast, but it will change the way transportation happens,” said Marcus Leng, the Canadian inventor who designed this aircraft, which he named BlackFly.

BlackFly is what is often called a flying car. Engineers and entrepreneurs like Mr. Leng have spent more than a decade nurturing this new breed of aircraft, electric vehicles that can take off and land without a runway.

They believe these vehicles will be cheaper and safer than helicopters, providing practically anyone with the means of speeding above crowded streets.

“Our dream is to free the world from traffic,” said Sebastian Thrun, another engineer at the heart of this movement.

That dream, most experts agree, is a long way from reality. But the idea is gathering steam. Dozens of companies are now building these aircraft, and three recently agreed to go public in deals that value them as high as $6 billion. For years, people like Mr. Leng and Mr. Thrun have kept their prototypes hidden from the rest of the world — few people have seen them, much less flown in them — but they are now beginning to lift the curtain.

Mr. Leng’s company, Opener, is building a single-person aircraft for use in rural areas — essentially a private flying car for the rich — that could start selling this year. Others are building larger vehicles they hope to deploy as city air taxis as soon as 2024 — an Uber for the skies. Some are designing vehicles that can fly without a pilot.

One of the air taxi companies, Kitty Hawk, is run by Mr. Thrun, the Stanford University computer science professor who founded Google’s self-driving car project. He now says that autonomy will be far more powerful in the air than on the ground, and that it will enter our daily lives much sooner. “You can fly in a straight line and you don’t have the massive weight or the stop-and-go of a car” on the ground, he said.

The rise of the flying car mirrors that of self-driving vehicles in ways both good and bad, from the enormous ambition to the multi-billion-dollar investments to the cutthroat corporate competition, including a high-profile lawsuit alleging intellectual property theft. It also recreates the enormous hype.

It is a risky comparison. Google and other self-driving companies did not deliver on the grand promise that robo-taxis would be zipping around