Rivian taps Capital One exec Diane Lye as its first CIO

Rivian has hired Diane Lye as its first chief information officer, a position that the EV maker says is necessary to expand globally. Lye’s hiring comes as Rivian consolidates its internal and external technology teams across its numerous departments, including manufacturing IT and customer-facing digital products. It is also ahead of Rivian’s planned expansion into Georgia, where it is building another factory , and overseas through a partnership with Mercedes-Benz . Rivian said IT and cybersecurity will need to become more sophisticated as it scales globally. The appointment also comes amid a restructuring that resulted in layoffs of about 6% of its workforce and executive changes, including the appointment of Frank Klein as its new chief operating officer. IT and cybersecurity infrastructure are critical components — some argue the foundation — for any company, regardless of size. In Rivian’s case, the company isn’t just large (about 14,000 people work there) it has a widening

Geely’s Europe expansion continues, Argo robotaxis on the Lyft app and Tesla AI Day takeaways

The Station is a weekly newsletter dedicated to all things transportation.  Sign up here — just click The Station — to receive the full edition of the newsletter every weekend in your inbox . This is a shorter version of The Station newsletter that is emailed to subscribers. Want all the deals, news roundups and commentary? Subscribe for  free .  Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B.  The week capped off with Tesla AI Day, a recruitment slash roadshow that ended up lasting three hours. Yeah. What did we learn and see? Tesla has made progress on its Tesla bot, also called Optimus. It is no longer a human dressed in a robot suit, but an actual robot . Will it make Boston Dynamics or Serve Robotics shake in their boots? Probably not. But it was a robot that moved, albeit briefly. A few takeaways: 1. The event was somehow simultaneously very dense and lacking basic details that would

Prosus calls off $4.7 billion BillDesk acquisition deal

Prosus Ventures and its subsidiary payments giant PayU have called off the $4.7 billion merger of BillDesk they announced last year citing failure of fulfilment of “certain conditions precedent” in a surprising move a month after they received approval from the local regulator to go ahead with the deal. “Certain conditions precedent were not fulfilled by the 30 September 2022 long stop date, and the agreement has terminated automatically in accordance with its terms and, accordingly, the proposed transaction will not be implemented,” Prosus said in a statement. The acquisition, announced at the peak of the bull cycle last year, was supposed to be the second largest M&A deal in the South Asian market’s consumer internet space. But in recent quarters, as the market has turned, Prosus itself has eroded a considerable value. It’s unclear if Prosus and BillDesk had agreed for a termination fee. PayU and 20-year-old BillDesk process a significant number of payments transactions in

Tesla delivered a record 343,830 vehicles in Q3, but still missed Wall Street’s forecasts

Tesla reported Sunday it delivered 343,830 vehicles in the third quarter, a new record and a turnaround from earlier this year when a shutdown at its China factory and challenges around opening factories in Berlin and Austin affected how many vehicles it was able to get into customers’ driveways. Despite the rebound and record number, the third-quarter delivery figure still didn’t meet Wall Street forecasts, which ranged between 358,000 and 371,000 vehicles, depending on the polled group. There was also a larger-than-usual gap between production and delivery numbers. The company produced 365,923 vehicles in the third quarter. Image Credits: TeslaTesla blamed the miss on a lack of capacity on the logistics network it relies on to ship vehicles to customers. “As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks,” Tesla said in a statement. “In Q3, we be

Lemonade leans on Aviva to bring its next-gen insurance platform to the UK

New York-based insurance giant Lemonade is officially launching in the U.K ., its fourth market in Europe and fifth overall, with a little help from one of the oldest and largest insurance providers in the U.K. Lemonade, for the uninitiated, emerged into the trillion-dollar insurance space back in 2015, with a new take on how consumers should be able to buy insurance. Mobile-first, and AI-powered automation for registering and filing claims was the name of the game, versus dusty old brokers and bureaucracy. On top of that, the company has always been vocal about its ethics, positioning itself as the antithesis of a traditional insurance company — the company is a certified B Corp , meaning that it’s independently assessed for its social and environmental performance. Its business plan essentially involves charging a set fee, and then donating some of its underwriting profits to a charity as selected by each customer when they sign up. Lemonade UK launch But Lemonade is still ver

24 hours left to apply to volunteer at TechCrunch Disrupt and attend for free

It takes a veritable army to make TechCrunch Disrupt — which takes place October 18–20 in San Francisco — the well-oiled experience that savvy startuppers have come to know and love. And we couldn’t do it nearly as well without our incredible volunteers. If you’re looking for a no-budget way to experience Disrupt up close and personal, sign up to volunteer for work exchange. Not only will you get a behind-the-scenes look at how to produce events, but you’ll also earn a free pass ($1995 value) to experience the event. The deadline to apply is tomorrow, October 3 at 11:59pm PT. You’ll work hard, play hard and get free access to all three days of Disrupt. Whether you dream of becoming a startup founder, marketer or event coordinator, this is a great way to see what it takes to produce a world-renowned tech startup conference. Plus, your free pass gives you access to the full Disrupt experience — the main stage, the TechCrunch+ stage, the expo floor — where you’ll find the Startup Ba

Despite the venture slowdown, fintech startups are still hiring

Welcome to The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann On September 28, LinkedIn released its Top Startups list, which is its self-described annual ranking of 50 emerging U.S. companies “gaining attention and recruiting top talent.” The professional networking site takes into consideration a variety of criteria based on its own data when coming up with the list: employment growth, engagement with the company and its employees, job interest and ability t

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