🚙💰📉US-based electric truck maker, Lordstown Motors, said yesterday they just-may-but-hopefully-won't be filing bankruptcy. Shares dropped 48% following word that Foxconn may pull their $170M investment in the automaker following a delisting notice from Nasdaq due to Lordstown's stock value failing to maintain a trade value over $1. Foxconn says the delisting breaches their agreement with Lordstown. Lordstown says if Foxconn bails, things may be over for its electric dream.
🥷🚗🍎"Kia Boyz" ride again, but maybe not for long? The NYPD and Mayor Eric Adams announced a new plan to combat the wave of TikTok trend-related car thefts plaguing Hyundai and Kia owners for a while now.
The Mayor's plan? Apple Air Tags. 500 Apple Air Tags, to be specific. Enough for 500 of the city's residents to track their car if it wanders from where it should be. Owners can give police permission to use the tracking data to retrieve the vehicle if they are iPhone users, of course.
🦋🚁👯Toyota and Joby Aviation’s partnership has reached new heights after signing a long-term supply agreement to mass-produce passenger electric vertical takeoff and landing (eVTOL) aircraft. The California-based start-up first garnered attention in 2018 after raising $100M in funding from big players like JetBlue and Intel. In 2020, Toyota invested $394M of their $590M pledge, and the recent supply agreement will further assist in development and scaling production.