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Apple to start testing self-driving car technology in California
Posted on 15th April 2017
Apple will begin testing self-driving car technology in California, its first public move into a highly competitive field that could radically change transportation.

The California Department of Motor Vehicles awarded Apple a permit to test autonomous vehicles on Thursday and disclosed that information on its website. A spokesman for the department said the permit will cover three vehicles all 2015 Lexus RX 450h hybrid SUVs — and six individual drivers. The state requires a human behind the wheel during such testing.

Apple confirmed that it will begin testing self-driving technology in the state, but provided no details. It pointed to a December statement it provided to federal regulators that stated Apple is investing heavily in "machine learning and autonomous systems" and noted "many potential applications" for these technologies.


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In June, Volvo Cars has announced that Polestar, its performance car arm, will become a separately-branded electrified global high performance car company. On Thursday, the new Polestar revealed its future as a standalone electric performance brand. It confirmed plans for its first three models, a new purpose-built production facility in China and a customer-focused route to market that, it says, will set an industry benchmark for performance vehicles. Polestar unveiled the 600bhp Polestar 1, its first car, which is set to roll off the production line in mid-2019.

 
Disinvestment-bound Air India has sought proposals for short term loans worth Rs 1,500 crore to meet “urgent” working capital needs, according to a document. This is the second time in little over a month that the flagship carrier has floated tenders for short tenure loans even as the government is working on the modalities for the stake sale. The debt-laden carrier, which is surviving on taxpayers’ money, is battling multiple headwinds, including financial woes and stiff competition. In a document issued on October 18, Air India said it is looking for “government guarantee backed Indian Rupee short term loans totalling up to Rs 1,500 crore to meet its urgent working capital requirements”.

 
As India celebrates the Diwali weekend with a bundle of festivities, the domestic equity markets yesterday lost over half a percent in just an hour trade with much heavier volumes than usual. Indian stock markets opened in a special Muhurat Trading session on Thursday to mark the auspicious occasion of Diwali, beginning of Samvat 2074. In an interview to ET Now, BSE CEO Ashishkumar Chauhan said that the exchange’s perspective has always been higher on investment side than on speculation.

 
More than 24,000 branches and 42 crore customers make the State Bank of India the goliath of all banks by sheer size and physical presence but its new chairman Rajnish Kumar is worried about the competition from nimble fintech companies.

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