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Linear Labs’ next-gen electric motor attracts $4.5 million in funding

sudshr47 March 26, 2019 Startups

Linear Labs, a startup developing an electric motor for cars, scooters, robots, wind turbines and even HVAC systems, has raised $4.5 million in a seed round led by Science Inc. and Kindred Ventures. Investors Chris and Crystal Sacca, Ryan Graves of Saltwater Ventures, Dynamic Signal CEO Russ Fradin, Masergy executive chairman and former-CEO Chris MacFarland, […]

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The 7 most eyebrow-raising details in the Elon Musk fraud complaint

sudshr47 September 28, 2018

The securities fraud complaint filed by the U.S. Securities and Exchange Commission against Tesla CEO Elon Musk contains an eye-opening view into the events leading up to the “funding secured” tweet heard round the internet. And luckily, TechCrunch has read through the document and highlighted the most compelling details, including new insights from the SEC’s […]

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A Tesla competitor just got $1 billion boost from Saudi Arabia

sudshr47 September 18, 2018

A hotshot electric vehicle company in Silicon Valley just got a $1 billion investment from Saudi Arabia’s Public Investment Fund.

No, not Tesla. We’re talking about its eventual competitor, Lucid Motors, which is based right next door to Tesla’s Fremont headquarters in Newark, California.

The luxury electric vehicle brand announced the cash infusion this week, saying it would use the funding to move forward with its Tesla Model S “killer,” the Lucid Air, expected to launch in 2020, and to build out its factory in Casa Grande, Arizona. Read more…

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Lucid Motors secures $1 billion from Saudi wealth fund to launch the Air

sudshr47 September 17, 2018

Saudi Arabia’s sovereign wealth fund is investing $1 billion into Lucid Motors, capital that will finance the commercial launch of the startup’s first electric vehicle. The agreement comes just six weeks after Tesla CEO Elon Musk tweeted that he was considering taking Tesla private at $420 a share and had secured the proper funding to […]