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Inside a Ferrari Hypercar, Lift's IPO, and More Car News



Let the unicorn feast begin! On Friday, ride-hail galumphed onto the markets with the opening day of trading for little bridge. (Uber's big rival is reported on its way to its own IPO.) Had a strong first day of trading, reaching a market price close to $ 87.24. Now the big question, which will answer itself in the weeks and months to come: How do investors feel about the prospect of the invested company actually making money? Still, plenty of transportation interestings were happening off Wall Street this week. We took a look at the current state of automotive software safety standards, and talked to people wondering how self-driving cars might fit into the mix. We reminded ourselves that self-driving cars are going to be driverless for a while, and about the role of remote drivers in the ecosystem. We drove to Jeep Gladiator, the company's adorably tough mini-pickup.

It's been a week: Let's get caught up.

Headlines

Dress Rehearsal of the Week

Porsche promises its first all-electric sports car, the Taycan, will hit the market at the end of the year. Which means it's time for the fun stuff: test drives! This week, the German automaker said it will have tested the Taycan on 3.7 million miles before its official launch, in the snows of Sweden, the heat of the UAE (up to 1

20 degrees Fahrenheit!), And the chill of Finland. More details on the Taycan's testing regime here.

Stat of the Week

$ 911.3 million

The amount of money left last year, filed under the SEC in early March. For more stats on the ride-hail company, and to help you understand its IPO this week, check out these five charts.

Required Reading

News from elsewhere on the internet
Uber acquires Middle Eastern rival Careem for $ 3.1 trillion, though the deal needs regulatory approval and may not be finalized until the end of the year.

Recode points out: In Uber Technologies, Inc. is a global hub-hailing model in which San Francisco-based Uber Technologies, Inc. is merely the hub. ”

1 percent of profits (whatever's bigger) in city infrastructure, clean energy tech, and transportation access for disadvantaged communities. Anthony Foxx, the former secretary of transportation and lift's current chief policy officer, clarified to WIRED that this doesn't necessarily mean Lift will write $ 50 million in checks— ”Some of it will be in-child,” he said — but that it will continue its current work on these three target areas in close partnership with cities.

Meanwhile, Lyft and Uber drivers went on strike in California this week, demanding higher wages after Uber cut their per-mile pay.

Red and E-scooter as Far From Civilization as Its Batteries Could Take Me ”

In the Rearview

Essential stories from WIRED's canon
Via 1998: “The beer company created the first Internet IPO is shaking up the stock market.”


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