Former Uber CEO Travis Kalanick is launching an investment fund. Kalanick made the announcement via Twitter yesterday. Called 10100 (ten one hundred), the fund will focus on large-scale job creation, with investments in real estate, e-commerce and emerging innovation in China and India. Non-profit efforts will focus on education and building infrastructure for cities of the future. Kalanick remains on Uber’s board. — THE VERGE
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Tesla made its first delivery with its Semi truck. On Instagram, Musk shared a picture of the electric semi-trailer truck, carrying battery packs from the Sparks, Nevada Gigafactory to its car factory in Fremont, California. The Semi won’t go into production until 2019, but prototypes have already been popping up around Tesla’s headquarters in California. Several companies have pre-ordered the Semi, including PepsiCo, Walmart and Anheuser-Busch. — BI
Lyft will begin testing its self-driving cars. The ride-hailing company will begin testing its autonomous vehicles at GoMentum Station, a 5,000-acre testing ground for connected and autonomous vehicles in Concord, California. Until now, Lyft had largely dipped its toe into the world of autonomous vehicles through partnerships with companies like Drive.ai, Ford and Waymo, among others. The vehicles Lyft is planning to test have been designed and developed by its own in-house engineering team. Last year, Lyft announced the opening of a 50,000-square-foot engineering facility in Palo Alto for autonomous vehicle development. GoMentum Station has also been used as a testing ground for autonomous vehicles from Otto, a former Uber subsidiary, and Honda. — THE VERGE
Chinese automaker Great Wall Motor is looking to double its vehicle sales by 2025. The automaker wants roughly a third of those sales to be all-electric, battery-powered vehicles. Great Wall plans to invest about $3.2 billion on electric car research and development by 2020 to support the expected sales increase. According to figures from Automotive Foresight, Great Wall Motor sold more than 950,000 vehicles last year, which represented a 1.9 percent drop from 2016. Great Wall had expressed interest last year in acquiring the Jeep brand from Fiat Chrysler Automobiles. The automaker’s largest market is in China, but also has a presence in Europe and has also expressed a plan to potentially expand to the United States. — REUTERS
Uber is seeking a $1.25 billion loan. The ride-hailing wants to raise the money mostly from existing investors, instead of banks, in the leveraged loan market. Uber last tapped the loan market in 2016 where it attained a $1.15 billion loan from Morgan Stanley. The latest loan plan was confirmed by an Uber spokesperson. Although Uber posted a $4.5 billion loss for 2017, the company is looking to tap into a receptive loan market where investors may be more willing to take on new deals. — BLOOMBERG