Automobile

Autonomous vehicle startup Argo AI closing in wake of Ford losses

Autonomous vehicle startup Argo AI is shutting down in the wake of Ford’s losses. Argo AI was founded by former Google and Uber self-driving executives. The company had raised $140 million from investors, including $1 billion from Ford.

Argo AI, an autonomous vehicle startup, is shutting down because Ford, one of its major investors, is suffering from financial losses. Argo AI was founded by former executives from Google and Uber’s self-driving divisions. The company had raised $140 million from investors prior to its shutdown, including $1 billion from Ford. You can find our terms for using feeds on our website. The original text states that “The big problem with the American Recovery and Reinvestment Act of 2009, better known as the stimulus bill, is that it was too small.” The text goes on to say that “The Congressional Budget Office estimates that the economy would have been about 3.5 percent smaller without the stimulus.”

Essentially, the issue is that the 2009 stimulus bill wasn’t large enough to produce the desired effect on the economy. The Congressional Budget Office estimates that without the stimulus, the economy would have been 3.5 percent smaller.

Autonomous vehicle company Argo AI is shutting down. In an earnings report, Ford (a major investor in Argo AI) noted that the company is being wound down and that it will hire engineers from the startup to expand and speed up development of Level 2+ and Level 3 autonomous driving systems.

Ford says that it made a decision to refocus its self-driving capital spending from the Level 4 systems Argo was working on (where the vehicles handles most driving operations) to Level 2+ (advanced driver assistance) and Level 3 (conditional automation) tech it’s developing in-house. It noted that Argo AI wasn’t able to attract new investors and that it was taking a “$2.7 billion non-cash, pretax impairment on its investment” in the company, which led to it posting an $827 million net loss for Q3.

According to TechCrunch, which first reported on Argo AI’s closure, Volkswagen and Ford will snap up the company’s tech and other assets. It’s not clear how the automakers, which invested at least $3.6 billion into Argo AI between them, are divvying things up nor how many of Argo AI’s more than 2,000 workers they plan to make employment offers to. All Argo AI employees will receive bonuses as part of their severance package, with those who Ford and VW don’t keep on receiving additional payments and health insurance, according to the report.

“In coordination with our shareholders, the decision has been made that Argo AI will not continue on its mission as a company,” an Argo AI spokesperson told Engadget in a statement. “Many of the employees will receive an opportunity to continue work on automated driving technology with either Ford or Volkswagen, while employment for others will unfortunately come to an end.”

“We are incredibly grateful for the dedication of the Argo AI team, and so proud of our achievements together,” Argo AI co-founders CEO Bryan Salesky and president Dr. Peter Rander said. “The team consistently delivered above and beyond, and we expect to see success for everyone in whatever comes next, including the opportunities presented by Ford and VW to continue their work on automated driving technology.”

In 2017, Ford said it would invest $1 billion into Argo AI over five years. Two years later, VW committed $2.6 billion in capital and assets toward the startup. Around that time, Ford and VW said they would work on vehicles that harness Argo AI’s autonomous driving tech. Between them, the automakers held a “substantial majority” stake in Argo AI.

Argo AI had been testing its tech on public roads in the US and Germany. In May, it commenced driverless operations in Austin and Miami without a safety driver at the wheel. Lyft was among the companies that were looking at deploying Argo AI-powered vehicles. Just last month, Argo AI announced a number of tools and services designed to support autonomous delivery and robotaxi operations.

Creating a robust and safe self-driving system is not exactly an easy challenge. Full Level 5 autonomy is still at least several years away from becoming truly viable for the mass market. To that end, Ford said in its earnings report that “the auto industry’s large-scale profitable commercialization of Level 4 advanced driver assistance systems will be further out than originally anticipated.”

Automobile

Amazon Prime Day deals: Get discounts up to 30% and more on these 5 desktops

Great reductions in prices are offered on the five desktops on sale for Amazon Prime Day. Have a look at these reductions on computers available on the Amazon Prime Day celebration.

Home Laptops PC News Amazon Prime Day deals: Get discounts up to 30% and more on these 5 desktops

The Amazon Prime Day sale is coming to its end tonight, but there are still a few hours left, which means you can do some last-minute shopping and save big amounts. If you are looking to buy a well featured desktop with a huge price cut, then these 5 Amazon Prime Day deals on desktops are for you.

1. ASUS Vivo AiO V222:

The ASUS desktop with 4 core Intel is now available with a 35 percent discount. Which means you can get it for Rs.27990 instead of Rs.42990.

Not sure whichlaptop to buy?

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2. Lenovo IdeaCentre AIO 3:

This desktop is available at a 28 percent discount. Under this Amazon Prime Day deal, you can buy it for just Rs.51490 instead of Rs.71190.

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3. Acer Aspire C24: The Acer Aspire C24 desktop is available at a discount of 28%. You can buy it for just Rs.50590 instead of Rs.70550.

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4. ASUS Zen AiO 24: This ASUS desktop is available with a 36 percent initial discount which brings the price down to Rs.60490 from Rs.94990.

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5. HP All-in-One PC AMD Ryzen 3 3250U: The HP desktop is available with 20 percent initial discount, which makes the desktop available to you for just Rs.37990 instead of Rs.47267.

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Although the initial discounts are already high you can bring the price down further by taking advantage of exchange offers and bank discounts available as part of these Amazon prime Day deals. The offer is for a limited period of time so, hurry up.

Automobile

Lego Mars Perseverance can spin 360 degrees in place just like the real rover

Lego has created a version of the Mars Perseverance rover that can turn around completely, just like the real life vehicle does. The replica was announced on Autoblog on Sunday, July 16th, 2023. Check out our stipulations concerning using our feeds. Share a link to this post and send an email with your comments to show your support.

For nearly 2 1/2 years, NASA’s Mars rover Perseverance has been cruising the Red Planet, collecting soil samples, examining rocks and looking for signs of microbial life. Now, the six-wheeled crawler has been immortalized in Lego form with the release of a new 1,132-piece set.

The kit is part of Lego’s Technic line, which is designed for more engineering-curious builders. A big part of the draw is the functioning complex systems that mimic the real rover’s mechanisms. For example, the finished Lego kit lets you switch the rover between a regular driving mode and a 360 mode. In the latter, the four outer wheels each lock at an angle so the rover can rotate in place.

Speaking of which, the wheels mimic the cleated aluminum wheels with titanium spokes of the real Percy. All six wheels on the Lego kit articulate to let the rig travel over rocky and pockmarked surfaces never touched by human beings. The long robotic arm with rock coring head and sample collector is replicated with movement along three axes. The set even includes the Ingenuity helicopter, an experimental solar flier equipped with cameras to scan the Martian landscape.

The real Perseverance and Ingenuity were launched on July 30, 2020. The duo landed on Mars a little over half a year later, on February 18, 2021. Since then, Perseverance has traveled just under 12 miles on the Martian surface as it examines the Jezero Crater. After that, it’ll proceed toward an ancient river delta to seek evidence of remaining water. Signals sent to Earth take about 11 minutes to arrive. Meanwhile, Ingenuity has completed 52 flights in the alien atmosphere, the first human-made machine to take flight on another planet.

The Lego set will be released on Aug. 1, three years and a day after Perseverance and Ingenuity were launched from Cape Canaveral. The kit will retail for $99.99 and is recommended for kids ages 10 and up.

Automobile

Formula One’s Netflix effect is filtering down to kids

The effects of Formula One’s association with Netflix are extending down to younger generations, resulting in more children getting interested in the sport. This was first reported by Autoblog on Sunday 16th July 2023. Check out our stipulations concerning using our feeds. Share a link to this post and send an email with your comments to show your support.

LONDON — Organizers of the “F1 in Schools” competition say the Netflix “Drive to Survive” effect is reaching the classroom with a record number of teams entered in this year’s finals in Singapore in September.

The global not-for-profit program, which aims to encourage students into science, technology, engineering and math (STEM) subjects, offers university scholarships and future work opportunities with F1 teams.

“‘Drive to Survive’ has definitely helped the whole sport,” the program’s founder Andrew Denford told Reuters, referencing the docuseries credited with a rapid rise in the sport’s popularity.

“At the primary final, I asked the kids who likes Formula One and all their hands went up when four, five, six years ago maybe only half of them (did).”

The school teams must raise sponsorship, draw up a business plan, design and make tiny model cars and hold presentations before going racing.

The finals held in the run-up to the Singapore Grand Prix weekend will have 68 entries from 60 countries compared to a previous best of 55 teams.

“There’s 68% girls in Saudi doing it and three (Saudi) teams coming with a majority of girls,” said Denford.

All will get garage and paddock tours and meet the drivers, with every Formula One team and tire supplier Pirelli providing a trophy of sorts.

The program launched in Britain in 2000 with eight schools in Wakefield and now has more than 28,000 educational institutions involved worldwide.

At the youngest level, kids start at the age of nine with paper cars powered by bicycle pumps. In the top 11-19 age bracket the cars are carved from a block of balsa wood and powered by a gas canister.

“We’ve got townships in Soweto … favela schools in Brazil. There’s no level of entry,” said Denford of the program’s reach.

Automobile

Used EV prices are collapsing, and Tesla is why

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Used electric vehicle prices are going down, and it is because of Tesla. This phenomenon was originally reported on Autoblog on Sunday, July 16th of 2023 at 8:00 A.M., Eastern Daylight Time; please acknowledge our terms of usage for feed items. Check out our stipulations concerning using our feeds. Share a link to this post and send an email with your comments to show your support.

Last week’s government inflation data showed used car prices were falling and likely stabilizing to levels just above pre-pandemic pricing. It seems prices for used electric vehicles, however, are falling even faster.

According to auto research firm iSeeCars.com, used EV prices are collapsing more than those in the overall used car market. In the firm’s June 2023 report, the data shows that used EV prices have fallen by nearly 30% year over year, with price drops actually accelerating from 8.8% in January to 16.8% in March and to 29.5% in June. The firm analyzed transactions from over 1.8 million one- to five-year-old used cars from the June 2022 and 2023 time period to capture the results.

“A year ago, used EV prices were on the upswing, rising faster than the average used car,” said iSeeCars executive analyst Karl Brauer in the report. “Electric vehicle prices are now falling at nearly 10 times the rate of the average used vehicle, reflecting a clear shift in EV supply and demand.”

Meanwhile, the overall used car market is stabilizing according to iSeeCars.com, with overall prices down 3.6% year over year in June, following price drops of 2.9% in May and 3.6 % in April.

Tesla price cuts

The biggest reason behind the fall in used EV prices? Tesla’s (TSLA) massive price cuts earlier this year put extreme downward pressure on the used EV market, which is dominated by Tesla EVs like the Model 3 and Model Y.

“With Tesla cutting prices on new models its used EV values have tumbled. And because Tesla makes up the bulk of the used EV market the dramatic drop in Tesla values has impacted the entire category,” Brauer said.

Other factors pushing prices lower on the second-hand EV market include fuel prices stabilizing this year (hurting demand for EVs), rising interest rates, and price-conscious shoppers looking for better vehicle deals regardless of powertrain, Brauer said.

Looking deeper into the data, the top 10 models with the steepest price drops included six hybrid and electric vehicles, with Tesla occupying three of the top five slots with the Model 3 (30.5% drop), Model X (21.3% drop), and Model S (19.0% drop).

Conversely, used cars with the biggest overall price increases were traditional gas-powered cars led by the Mercedes-Benz SL convertibles, Fiat 500X crossover, Chevrolet Suburban, and two Porsche sportscars — the 911 convertible and 718 Cayman coupe.

Looking across metropolitan markets in the US, the data showed that the Miami market saw the steepest used car price drops at 8.1% year over year in June, followed by New York (6.9%) and Jacksonville, Florida, at 6.8%. Only Dallas, Salt Lake City, and San Antonio saw used car price appreciation across the 50 metro areas covered by iSeeCars.

The bottom line for used EV car buyers could be this: If you want a cheap Tesla EV, now might be your best chance to buy one. And don’t shy away from going across state borders to Florida or New York to buy one.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

Click here for the latest stock market news and in-depth analysis, including events that move stocks

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Automobile

The best impact wrenches of 2023

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Classified in the areas of Commerce and Parts and Accessories, The best impact wrenches of 2023 was initially revealed on Autoblog on Sunday, 16 July 2023 at 07:00 EDT. We kindly suggest that you observe our usage guidelines for material sources. Check out our stipulations concerning using our feeds. Share a link to this post and send an email with your comments to show your support.

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change.

There are regular wrenches that almost everyone is familiar with, and then there are impact wrenches. Impact wrenches can do everything a regular wrench can do but much faster. They can also take on more heavy-duty tasks that manual wrenches cannot. They have a high amount of torque, which makes the most stubborn nuts and bolts easy to remove. Most of them are cordless and battery-powered, but some of them are wired and work just as well. Here are the best impact wrenches available for sale online.

AVID POWER Cordless Impact Wrench – $99.99

$99.99 at Amazon

Key Features

Cordless impact wrench kit
3.0A lithium-ion battery
1 hour fast charger
Up to 330 lb-ft of torque
Maximum RPM of 2,000
1/2 ” chuck size

The AVID POWER Cordless Impact Wrench is powered by a 3.0A lithium-ion battery that reaches a maximum of 2,000 RPM and up to 330 lb-ft of torque for tightening and 770 lb-ft of loosening torque. This wrench has a special friction design where it holds sockets onto the anvil better than a standard bearing ball.

PORTER-CABLE Impact Wrench, 450 lbs of Torque – $79.99

$79.99 at Amazon

Key Features

Corded
1/2 ” hog ring anvil
Maximum RPM of 2,200
Up to 450 ft-lb of torque
7.5 amp motor
3 year limited warranty

This PORTER-CABLE Impact Wrench has a plug-in cord and is powered by a 7.5 amp motor. It reaches a maximum of 2,200 RPM and up to 450 lb-ft of torque. Socket changes are made simple with its 1/2 ” hog ring. This wrench comes with a 3-year limited warranty.

Makita XWT15Z 18V LXT Lithium-Ion Brushless Cordless Impact Wrench – $165.00

$165.00 at Amazon

Key Features

5.0Ah lithium-ion battery
Extreme Protection Technology
Brushless motor
Maximum RPM of 3,2000
Up to 430 lb-ft of torque
Long lasting battery life

This Makita Lithium-Ion Brushless Cordless Impact Wrench is powered by a large 5.0Ah lithium-ion battery. It reaches up to 3,200 RPM and up to 430 lb-ft of torque. The wrench has three forward and three reverse auto-stop modes to increase efficiency while working.

DEWALT 20V MAX XR 1/2″ High Torque Impact Wrench – $244.99

$244.99 at Amazon

Key Features

Maximum RPM of 2,400
Up to 700 lb-ft of torque
1/2 ” hog ring anvil
Magnesium gearcase
LED light
3 year limited warranty

This DEWALT 20V MAX XR High Torque Impact Wrench is equipped with a lithium-ion battery and has 700 lb-ft of torque and 1,200 lb-ft of breakaway torque. It can reach up to 2,400 RPM and has a 1/2 ” hog ring anvil with a detent pin. There is a LED light with a 20 second delay to add invisibility in low light conditions. A 3 year warranty is included with the purchase of this wrench.

Milwaukee 2767-20 M18 FUEL High Torque 1/2″ Impact Wrench – $213.82

$213.82 at Walmart

Key Features

REDLITHIUM battery
Up to 1,400 lb-ft of maximum torque
Up to 1,000 lb-ft of fastening torque
4-mode drive control
1/2 ” friction ring anvil

This Milwaukee High Torque Impact Wrench is powered by a REDLITHIUM battery which is a unique type of lithium-ion battery that lasts longer and has extra protection from overloading and overheating. It can reach 1,400 lb-ft of maximum torque and 1,000 lb-ft of fastening torque.

What are the benefits of an impact wrench?

Impact wrenches have various benefits that make them worth the price. Their high torque output gives them a major advantage over other drills and wrenches. They can work much faster than other wrenches and come as either wireless or they can be plugged in.

Are there any disadvantages with impact wrenches?

The biggest downside of impact wrenches is the price. They can cost around $100 or much more and if you don’t use it often then it may not be worth the price.

Impact driver vs impact wrench

The names are similar, but they are different. According to Pro Tool Reviews, “An impact driver is a screwdriving specialist. Use one for slotted, Phillips, square, Torx, and other fasteners with a head that requires a driver bit to install. Turn to the higher power of an impact wrench for fastening and loosening nuts and bolts.”

Impact wrench vs torque wrench

Impact wrenches are power tools that are recommended for more serious projects such as taking apart heavy-duty equipment or removing tires while torque wrenches are more practical for basic work that can be done by hand.

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