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Inside Automotive (Nov 22nd, 2017)

Hey there, 

When I think about what I'm thankful for this holiday season, it's definitely our Inside Automotive readers! Thank you for reading, replying and sharing. 

We're taking a short break for Thanksgiving and will be back on Monday, November 27. Have a great holiday! 

Thanks, 

Johan - Inside Automotive Writer/Curator

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Uber paid hackers to delete stolen data on 57 million customers and drivers. The attack occurred in October 2016 and was kept secret. Hackers obtained names, email addresses and phone numbers of 50 million Uber riders around the world, along with data from 7 million drivers, including 600,000 driver’s license numbers. The New York Times reports that Uber's then-CEO Travis Kalanick former chief security officer Joe Sullivan arranged for a $100,000 ransom payment, which was paid in exchange for promises from the hackers that the data would be deleted. Kalanick was forced out earlier this year but remains on Uber's board; Sullivan was fired. The attack was discovered after Uber’s board hired an outside law firm to conduct an investigation into Sullivan’s security team. The company initially made the breach look like a "bug bounty," which occurs when companies pay white-hack hackers to find security flaws. Current CEO Dara Khosrowshahi said neither the breach nor the cover-up should have happened. "I will not make excuses for it... While I can’t erase the past, I can commit on behalf of every Uber employee that we will learn from our mistakes." — BLOOMBERG

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Apple scientists have published self-driving car research. The paper, submitted to online journal arXiv, is the company’s first publicly disclosed paper on self-driving cars. The research details how autonomous cars can better spot cyclists and pedestrians while using fewer sensors. The paper is significant as Apple typically keeps most of its artificial intelligence and machine learning findings under lock-and-key, due to the company’s famed secrecy around new products. You can see the research here. — REUTERS

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Global electric car sales have grown 63 percent higher from the same quarter a year ago. The surge in EV sales has largely come from China, where the vehicles are in heavy demand. Sales of battery-electric cars and plug-in hybrids exceeded 287,000 units in the third quarter, which is 23 percent growth from the second quarter. China accounted for more than half of those sales. China is trying to curb pollution and is focused on driving up EV sales. The Bloomberg New Energy Finance report expects global EV sales to surpass 1 million units for the first time this year. — BLOOMBERG 

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Tesla is burning through nearly $500,000 every hour, according to some estimates. At the company’s current burn rate, the automaker is expected to exhaust its current cash reserves on August 6, 2018. However, it is likely that the company will likely raise a funding round, start increasing output of its Model 3 sedan and sell preorders of its revamped Roadster sports car and trucks, which should bring in significant revenue. — BLOOMBERG

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The Boring Company, Elon Musk’s tunnel project, has raised $300,000 through hat sales. Musk tweeted, “Initial Hat Offering going great w over $300k in hat sales already! Thanks for buying our super boring hat. You rock, figuratively & literally. All cash goes directly towards more boring.” The company sells one product through its online store, a $20 black one-size-fit-all hat with a velcro strap and The Boring Company logo plastered on the front. This means the company has sold about 15,000 hats. — TESLARATI

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