Ford called off plans to develop an electric vehicle with Rivian, according to the Wall Street Journal. Ford plans to work on its own model, with a company spokesperson telling the Journal that the development of electric vehicles from both companies “have advanced to a significant degree.” Ford’s decision to exit the planned deal was first reported by Automotive News. Ford purchased a...
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Sequoia Capital Targets $2.25 Billion for Two U.S. VC Funds
Sequoia Capital, defying the tech market sell-off that’s chilled startup fundraising, is asking investors to commit money to two new U.S.-focused funds, according to two people familiar with the matter. The Menlo Park, Calif.-based venture capital firm behind Airbnb and DoorDash expects to dedicate $1.5 billion to a U.S. growth fund focused on more mature companies, the people said....
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