For Today: ChargePoint going public to support Europe network, Uber choosing former Expedia CEO to stabilize troubled company

ChargePoint in Europe:  ChargePoint is looking to launch an initial public offering in the next five years as the company expands further into Europe, CEO Pasquale Romano told Reuters. ChargePoint, operator of one of the world’s largest charging station networks for electric cars, joins other players in the game including utilities, engineering groups, automakers, and startups seeking to establish strong footing. BMW, Daimler, and Siemens already have a strong presence in Europe as demand continues to increase – and they see ChargePoint as an option to expand their networks. The charging company has so far raised about $300 million in funds, with Daimler and Siemens joining up this year. BMW first supplied funds in 2012. The company also operates about 40,000 charging spots in the U.S. and Mexico.

California AB 1184 moves forward:  The California legislature is pushing forward a $3 billion program that could raise electric vehicle rebates up from the current $2,500 per vehicle all the way to $10,000 or more. It’s been approved by Senate and Assembly committees, and still needs to see legislative approval and the signature of Gov. Jerry Brown by the end of the current session in Sacramento on Sept. 15. The bill’s sponsor, Assemblyman Phil Ting (D-San Francisco), said Assembly Bill 1184 ties into the state’s initiative to reduce greenhouse gas emissions by 2030 to a level reached in 1990. “If we want to hit our goals, we’re going to have to do something about transportation,” he said.

Uber gets new CEO:  Uber has named former Expedia chief executive Dara Khosrowshahi as its new CEO, according to two people familiar with the matter. It’s expected to help stabilize the ride-hailing company’s contentious battle in recent months that resulted in former CEO Travis Kalanick leaving in June. Kalanick had been overseeing the company as it eventually reached $70 billion in estimated market valuation until a series of controversies took over this year – driving investors to shake up Uber management. Khosrowshahi has been an outspoken critic of the Trump administration’s immigration policy, which was another heated issue for Uber earlier this year. His family had immigrated to the U.S. during the Iranian revolution. Expedia, along with Amazon, became one of two technology companies to contribute declarations to a lawsuit filed by Washington State’s attorney general objecting to the travel ban executive order. That had focused on seven predominantly Muslim countries. Other finalists for the Uber CEO position include Jeffrey Immelt, the former chief of General Electric, and Meg Whitman, the chief of Hewlett Packard Enterprise, the sources said.

 

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