Tag: invests

Report: Google invests $250M in Uber ride-share service

Filed under: Technology

DENVER, CO. - FEBRUARY 10: Kevin Labonte, owner of Special Times Limousine, supplements his own fares with those he contracts out from Uber. State legislators may enact proposed changes supported by the taxi community that say Uber is an unregulated service. Though not regulated, Uber merely connects private drivers, who comply with all PUC regulations, to customers. (Photo By AAron Ontiveroz/The Denver Post via Getty Images)

The number of people who haven’t yet heard of the transportation/technology startup Uber is shrinking by the minute. Uber produces a mobile application that is used to connect passengers with drivers of vehicles for hire, typically luxury vehicles – kind of a high-tech, high-zoot taxi calling service.

Use of the app may be spreading gospel of Uber within urban centers, but the company is also generating tremendous buzz for sourcing massive investment, including a reported $250 million sourced from Google Ventures. Google’s quarter-billion makes up the better part of a $360-million investment round, with a resultant company valuation set at a staggering $3.5 billion.

So, what does Google, famous researcher into autonomous car technology, want with Uber’s popular ride-sharing software? Our wandering minds immediately leap to fantasies about driverless limousines and taxis as a logical next step. And, while that type of service might be possible down the road, a recent article from Forbes indicates that the road in question is a long one.

The reality may be a bit less theatrical than robot cabs, but is interesting nevertheless. Forbes believes that Google likes the concept of repurposing Uber tech to work with its own blooming Google Shopping Express play in the near term, along with all kinds of on-demand delivery in the not-distant future. The core idea of Shopping Express is to create a near-seamless way to go from a one-click purchase on your laptop to the knock of a delivery driver at your front door. Imagine combining the depth of Amazon’s shopping experience with the instant gratification of ordering Chinese food, and you get the idea. Google would seem to believe that Uber’s app, technology, and engineer brains are a fast step forward in that direction.

Google invests $250M in Uber ride-share service originally appeared on Autoblog on Fri, 23 Aug 2013 17:30:00 EST. Please see our terms for use of feeds.

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Official: Honda invests $215M in Ohio Earth Dreams production

Filed under: Plants/Manufacturing, Technology, Acura, Honda

Honda Ohio Operations

Honda has announced a $215 million investment in a pair of its Ohio operations, taking its total tally for North American operations up to $2.7 billion in three years. The announcement was made at the 2013 Center For Automotive Research Management Briefing Seminars in Traverse City.

$180 million of the investment is earmarked for Honda’s Anna, OH engine plant. The money will allow the facility to increase its aluminum die casting and increase production of Honda’s Earth Dreams Technology engines. Think of Earth Dreams as sort of like Mazda’s Skyactiv line, only ED is limited to a new line of engines, rather than a full suite of automotive components. Anna will also be getting a new technical center to train engineers, techs, and line workers on powertrain technology.

The remaining $35 million is slated for Honda’s main Ohio operations in Marysville. A 160,000-square-foot facility will be constructed near Honda’s current properties, which will house another technical training center to focus on automotive manufacturing. The new building will also house Honda’s North American Services group, as well as a new heritage center.

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Honda invests $215M in Ohio Earth Dreams production originally appeared on Autoblog on Fri, 09 Aug 2013 17:46:00 EST. Please see our terms for use of feeds.

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Official: GM invests $331 million, adds 110 jobs at Arlington plant

Filed under: GM, Earnings/Financials

GM Arlington Assembly

General Motors has committed to investing a total of $2 billion in 17 of its facilities here in the United States, and the latest to receive monitory support is the Arlington Assembly Plant in Texas. $331 million is being pumped into the Arlington facility for tooling and equipment in an effort to expand the plant. 110 jobs will also be added to the facility’s existing 2,400-person workforce.

Currently, the plant builds The General’s GMT900 sport-utility vehicles: the Chevrolet Tahoe, Suburban, GMC Yukon and Cadillac Escalade. GM likely has no plans to abandon this segment anytime soon, so it only makes sense that the plant will be updated in order to support the next generation of these full-size SUVs.

The Arlington Assembly investment comes after GM made efforts to expand its Detroit-Hamtramck, Bowling Green, Flint and Bay City facilities. Follow the jump for the official press blast.

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GM invests $331 million, adds 110 jobs at Arlington plant originally appeared on Autoblog on Thu, 26 May 2011 15:33:00 EST. Please see our terms for use of feeds.

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General Motors invests $483 million in Spring Hill facility, rehires 483 workers

Filed under: Technology, GM, Earnings/Financials

GM Ecotec engineGeneral Motors has announced that it will invest a total of $483 million in its Spring Hill, Tennessee powertrain facility by 2012. The news comes as GM continues to move toward building more fuel-efficient engines. The automaker says that the next-generation Ecotec four-cylinder engine, complete with direct-injection, will be built in the Spring Hill plant. Those funds will also go toward bringing back a total of 483 workers that have been idle since last year.

In 2009, the company laid off 2,000 workers at the Spring Hill facility as part of its restructuring efforts, though 800 of those individuals relocated to other GM plants around the country. Even so, that didn’t do much for the economy in Maury County, Tennessee. According to the Associated Press, the locality has one of the highest unemployment rates in the state – 14.5 percent in July.

Until now, the future of the Spring Hill plant had been more than a little uncertain. The facility was originally designed to produce Saturn vehicles, but was reworked to produce the Chevrolet Traverse to the tune of $600 million. GM then pulled Traverse from the plant last year.

[Sources: Associated Press via Google, General Motors]

General Motors invests $483 million in Spring Hill facility, rehires 483 workers originally appeared on Autoblog on Fri, 17 Sep 2010 13:01:00 EST. Please see our terms for use of feeds.

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