First race-ready Tesla Model S P100D is delivered to Electric GT team

Now they have delivered the first Tesla Model S P100D stripped-down and race-ready to one of the Electric GT teams that will be competing in the championship. After a few delays and setback over the last year, Electric GT, the Tesla racing championship, is now pushing ahead for the first season to start at the end of the year. The company first planned to launch its championship with the Tesla Model S P85+, but they instead decided to use the Tesla Model S P100D with ‘Ludicrous+’ after it was announced. They claim that a stripped-down… Read moreFirst race-ready Tesla Model S P100D is delivered to Electric GT team

Porsche is making a $7.4 billion bet on electric cars

Porsche is going all in on electric cars. The Stuttgart, Germany-based sports car giant announced on Monday its plan to spend €6 billion ($7.4 billion) by 2022 to develop a lineup of electrified cars. Monday’s announcement doubles the €3 billion ($3.7 billion) electric mobility investment plan Porsche announced last year. “We are doubling our expenditure on electromobility from around three billion euro to more than six billion euro,” Porsche AG chairman Oliver Blume said in a statement. “Alongside the development of our models with combustion engines, we are setting an important course for the future… Read morePorsche is making a $7.4 billion bet on electric cars

Five lessons from history on AI, automation, and employment

History tells us that in the long run, technology is a net creator of jobs. Is this time different? Technology adoption can, and often does, cause significant short-term labor displacement, but history shows that in the longer run, it creates a multitude of new jobs and unleashes demand for existing ones, more than offsetting the number of jobs it destroys, even as it raises labor productivity. An examination of the historical record highlights several lessons. Here are five. 1. Employment in some sectors can decline sharply, but new jobs created elsewhere have absorbed those that have… Read moreFive lessons from history on AI, automation, and employment