company

GM Cruise tries to poach Zoox engineers as company for sale

(Reuters) – Self-driving technology company Cruise, a unit of General Motors Co’s (GM.N), is trying to poach engineers from struggling rival Zoox Inc, according to an email sent to Zoox engineers by the founder of Cruise this week.

FILE PHOTO: Kyle Vogt, chief technology officer, president & co-founder of Cruise, a Honda and General Motors self-driving car partnership, stretches from a Cruise Origin autonomous vehicle during its unveiling in San Francisco, California, U.S. January 21, 2020. REUTERS/Stephen Lam/File Photo

The move comes as the Wall Street Journal reported last week that e-commerce giant Amazon.com Inc (AMZN.O) is in advanced talks to buy Zoox, a company founded six years ago and based in Silicon Valley.

“Cruise is willing to recognize the full value of the rewards you’ve earned at Zoox – something that is very unlikely to occur via an acquisition in this environment,” said the email

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SoftBank-backed Ola Electric buys Dutch scooter company Etergo

FILE PHOTO: An employee speaks over his phone as he sits at the front desk inside the office of Ola cab service in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India, April 20, 2016. REUTERS/Anindito Mukherjee

NEW DELHI (Reuters) – A unit of SoftBank Group-backed Indian ride-hailing company Ola will buy Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on Wednesday.

Ola Electric did not disclose the amount it was paying to acquire Etergo, which was last valued at around 84 million euros ($92 million), according to a source familiar with the deal.

Etergo’s scooters use swappable, high energy density batteries that give it a range of up to 240 km.

Ola Electric said it will begin EV production work this year and plans to launch its first electric scooter in 2021.

“The company aims

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SoftBank-backed Ola buys Dutch electric scooter company Etergo

FILE PHOTO: An employee speaks over his phone as he sits at the front desk inside the office of Ola cab service in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India, April 20, 2016. REUTERS/Anindito Mukherjee

NEW DELHI (Reuters) – SoftBank Group-backed Indian ride-hailing company Ola will acquire Amsterdam-based electric scooter company Etergo as part of its plan to locally build electric vehicles (EVs), the company said on Wednesday.

Ola did not disclose the amount for which it will acquire Etergo, which was last valued at around 84 million euros ($92.05 million), according to a source familiar with the deal.

Etergo’s scooters use swappable, high energy density batteries that give it a range of up to 240 km.

Ola said it will begin EV production work this year and plans to launch its first electric scooter in 2021.

“The company aims to build a suite of

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Uber customer claims company won price-fixing suit because arbitrator was scared

NEW YORK (Reuters) – An Uber customer on Friday asked a Manhattan federal judge to overturn an arbitration win for the company in a price-fixing case, arguing that the arbitrator only ruled in Uber’s favor because he was scared.

FILE PHOTO: The Uber logo is displayed on a mobile phone in this picture illustration taken November 25, 2019. REUTERS/Hannah McKay/Illustration

The high-profile 2015 antitrust lawsuit alleged that Uber Technologies Inc engaged in an illegal conspiracy with its drivers to coordinate high “surge pricing” fares during periods of heavy demand by agreeing to charge prices set by an algorithm in the Uber app for hailing rides.

Uber takes a cut from drivers’ earnings, and ride-hailing trips in North America make up the bulk of the company’s revenue. The lawsuit sought a nationwide ban against surge pricing.

Uber argues its drivers are independent contractors and that its app is merely a technology

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