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Inside Automotive

Inside Automotive (Jun 11th, 2019)

Transportation stocks to follow

$TSLA (1:00 PM EST): $214.23 (+0.63%) // More info

$UBER (1:00 PM EST): $42.06 (-1.29%) // More info

$LYFT (1:00 PM EST): $57.00 (+0.42%) // More info

$GM (1:00 PM EST): $36.13 (+0.33%) // More info

1. Audi has recalled hundreds of e-Tron electric SUVs over a wiring issue. The automaker issued the order for 1,644 vehicles, 544 of which were sold to customers. The remaining vehicles are at or are in the process of being transported to dealerships. The recall is tied to a faulty grommet on the wiring assembly, located between the charging port and the vehicle’s battery, which could potentially cause a fire due to excessive moisture. Audi says a fix for the issue can be expected around August and the automaker will continue sales of the vehicle. Drivers have the option of continuing to drive the vehicle until they receive a warning light about the issue. — CNET

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2. Rivian CEO and co-founder RJ Scaringe teased peer-to-peer vehicle charging and charging support for auxiliary batteries. In an interview with The Drive, Scaringe said the company’s vehicles will likely support these features to accommodate those who may want to go off-road with their Rivian vehicles. He said some off-roaders may carry around gas canisters with them and may want to help other people along the way. The capabilities would allow for external batteries which can charge Rivian vehicles, along with the capability for a Rivian vehicle to charge another Rivian EV. — THE DRIVE

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3. Innoviz closed a recent Series C round of $170 million. The Israel-based LiDAR startup’s latest funding round was backed by a group of investors, including China Merchants Capital, New Alliance Capital and Phoenix Insurance Company, among others. The closure of the round amounts to $252 million raised by the startup. Innoviz has touted its “perception software” as what helps it stand out among competitors in the LiDAR space. — TECHCRUNCH

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4. Tesla’s employee satisfaction scores on two prominent job websites have declined, despite being a top destination for recent engineering graduates. On LinkedIn’s “Top Companies 2019” list, the automaker dropped from being considered as the fifth best workplace on its network to the 16th best workplace, based on actions indicating job interest and demand. On Glassdoor, Tesla’s overall rating dropped from a high of 3.6 stars in 2017 to 3.2 stars in Q1 of 2019. The average rating of employers on the site sits at around 3.4 stars. This is despite a recent poll of engineering students by Universum, who considered SpaceX and Tesla to be the top two most attractive employers. — REUTERS

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5. Reuters reports that both Fiat Chrysler Automobiles and Renault are looking for ways to revive a planned merger. Sources told Reuters that Nissan is poised to urge Renault to reduce its 43.4 percent stake in the Japanese automaker, in exchange for support of the merger. It is unclear, however, if this would be enough to revive the deal. — REUTERS

6. Mazda will release its first battery-electric vehicle in 2020. Mazda CEO Akira Marumoto also said the automaker was expected to release plug-in hybrid models of its vehicles from 2021 or 2022. — AUTO NEWS EUROPE

7. Some Tesla owners are frustrated with the automaker’s failure to cover “yellowing” screens under warranty. On Tesla Motors Club, some owners said despite the degradation of the infotainment screen’s quality, the automaker said it could only replace the screen at the owners’ expense, which has angered many on the board. — TESLA MOTORS CLUB

Your take: Do you think Tesla should replace these screens under warranty? Hit “reply” and let me know what you think! Your comments may be featured in tomorrow’s newsletter. 

8. Some Uber and Lyft riders are dissatisfied with San Francisco International Airport’s new ride-hailing pickup zone. The airport now sends passengers and ride-hailing drivers to the top floor of a parking garage, which has reportedly created more congestion. — SF CHRONICLE

9. Uber may be looking to get into the financial services space, CNBC reports, with the goal of hiring several dozen engineers and product managers this year. — CNBC

10. Ride-hailing company Bolt (formerly known as Taxify) has launched operations in London. — CNBC

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This newsletter was written and curated by Johan Moreno. Johan is based out of Los Angeles, CA and has covered technology and automotive extensively for a variety of publications, including Forbes and The Orange County Register. Follow him on Twitter @dudejohan

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside), David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology), and Bobby Cherry (senior editor at Inside, who’s always on social media).

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