Autonomous

Tesla Inc.’s soaring valuation led to a downgrade by Sanford C. Bernstein analyst Toni Sacconaghi on July 28, who said it is difficult to justify the market capitalization even using best-case scenarios.

Volkswagen AG’s CEO again praised Tesla Inc.’s Elon Musk, this time for showing it’s possible to profit off electric cars even in the midst of a global pandemic.

Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough.

Fiat Chrysler Automobiles and Google affiliate Waymo said July 22 they are extending their partnership in the development and testing of autonomous vehicles for commercial delivery and for future FCA products.

Tesla Inc. lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition and reductions in the government’s electric-vehicle subsidies.

Autonomous vehicle technology developer Aurora plans to launch testing of self-driving Peterbilt Class 8 trucks and smaller vehicles that can be used for package delivery in the Dallas-Fort Worth area this year.

The prospect of a Tesla Inc. factory in the Austin, Texas, area has moved a big step closer to reality, after Travis County commissioners on July 14 approved tax breaks the electric vehicle maker requested.

Truck and engine maker Navistar International Corp., and TuSimple, a global self-driving technology company, announced July 15 a strategic partnership to co-develop SAE Level 4 self-driving trucks targeted for production by 2024.

After a torrid rally that saw shares more than double since early May, Tesla Inc. is taking a pause on July 15, even as the broader market rises on the hopes for a coronavirus vaccine.

Michigan is creating a centralized team to handle future technology issues, with the new Office of Future Mobility and Electrification.