BENGALURU: Self-drive car rental platform Zoomcar has raised $30 million (Rs 213 crore) in a fresh funding led by Sony Innovation Fund, the venture arm of Japanese electronics giant Sony. The investment, which saw participation from existing investors as well, is part of the company’s ongoing $100 million Series-D funding round, the company said in a statement. Zoomcar will deploy the capital in growing its service beyond the 45 cities it already has a presence in, while also investing in technology, data science and innovations around the Internet of Things. The company said it is committed to growing its fleet by 10 times in the next 18-24 months to 1 lakh vehicles. Another area of growth will be the shared subscription model that allows customers to rent cars for tenures spanning 6-36 months. Zoomcar claimed it hit a 15,000-subscription run rate in the third quarter of last year. “With the growth of shared economy across the globe, subscription-based car ownership is … [Read more...] about Zoomcar has $30 million in the boot
Self driving cars
SPEED IS IMPORTANT From supersonic jets to hyperloop projects and high-speed trains, the transportation industry is exploring creative measures to slice travel times for passengers. Harris sees a big opportunity to ramp up train speeds around the country. Amtrak’s high-speed Acela service already operates in the Northeast, with new Acela trains expected to debut next year. And Amtrak trains regularly reach speeds of 110 mph in some areas, such as between Detroit and Chicago. But Harris said there are many areas where existing rail infrastructure can be upgraded to deliver higher-speed trains to consumers. “We have about 30 different opportunities around the country where we can build on existing infrastructure,” he said. … [Read more...] about What’s driving disruption in transportation?
Cruise CEO Dan Ammann wrote in a Medium post in December that the company is looking to “move beyond the car” with an autonomous, electric ride-hailing service that will augment other forms of transportation, reducing cost and congestion while increasing safety. Cruise initially planned to launch the service by the end of 2019, but delayed it to make sure the technology could provide a level of safety that it found acceptable. … [Read more...] about GM to debut autonomous car without a steering wheel, report says
Cruise is currently testing vehicles on the road in California that it plans to put into commercial use by the end of 2019 as it looks to compete with similar efforts from Waymo, Uber and Tesla. The company has petitioned the federal government to allow it to deploy cars without steering wheels or brakes, but has not yet received approval to do so. … [Read more...] about GM Cruise autonomous car company gets $1.15 billion investment ahead of 2019 launch
Japan's Subaru Corp set a target on Monday to sell only electric vehicles worldwide by the first half of the 2030s, in a move towards its long-term goal of a carbon-free society. The news comes as Subaru has strengthened capital ties with Toyota Motor Corp , in a trend of global automakers joining forces to slash development and manufacturing costs of new technology. To supplement the mild hybrid and plug-in hybrid cars already in its lineup, Subaru plans to develop a so-called "strong hybrid" vehicle using Toyota technology and intended to debut later in the decade. It is also developing an all-battery electric car with Toyota for release around the same time. "Although we're using Toyota technology, we want to make hybrids that are distinctly Subaru," Chief Technology Officer Tetsuo Onuki told a briefing. "It's not only about reducing CO2 emissions. We need to further improve vehicle safety and the performance of our all-wheel drive." Subaru said that by 2030 at least 40% … [Read more...] about Subaru sets target to sell only electric vehicles by mid-2030s