Cruise Origin rolls into Austin, WeRide makes its IPO move and TuSimple stirs up more drama

News Summary

  • The ruling might give Tesla the chance to narrow the scope of the lawsuit, which the CRD filed after hearing several reports that Tesla’s Fremont factory was a racially segregated workplace.Volkswagen Group and its battery company PowerCo have picked Canada for its first overseas battery cell factory.
  • WeRide’s competitor, Pony, also put on hold its plan to go public in the U.S. via SPAC with a $12 billion valuation.Is WeRide’s IPO a sign that tensions are easing slightly or does the company have a rough ride ahead of it?
  • It’s apparently attractive to the Chinese company even though it will likely face scrutiny from the Committee on Foreign Investment in the United States (CFIUS).China has also stepped up regulatory oversight on overseas-listed firms that could post national security risks with regard to cross-border data transfer.
  • One of Hydron’s founders is Mo Chen, who is also a co-founder at TuSimple and remains on the company’s board.Hou responded to this 8-K with a letter to TuSimple’s board, which was also posted on LinkedIn, defending himself.
  • Operations of the cold chain-capable 20 foot box trucks will commence in Q2 with a safety driver onboard to start.Kodiak Robotics signed a deal for an ongoing partnership with Forward Air Corporation to operate autonomous freight 24/6 between Dallas and Atlanta.TuSimple and drama seem to go hand in hand.
  • I’m betting it’s the latter.Arrival secured a $300 million equity financing line from Westwood Capital to help it stay in business into late 2023, but no later — not unless it can raise more funds with fewer strings attached.
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