TNB Tech Minute: Tesla’s Cybercab Probed by Auto-Safety Regulators

0:00This episode is brought to you by Hard Lessons, a podcast from Morgan Stanley. Some investing lessons only become clear after you see how a call plays out. On Hard Lessons, iconic investors sit down with Morgan Stanley leaders to go behind the scenes on the critical moments, both successes and setbacks that shape to they are today. Watch or listen to Hard Lessons wherever you get your podcasts. Here's your morning TNB Tech Minute for Friday, September 4th. I'm Julie Chang for the Wall Street Journal. Federal regulators have open an investigation to determine if Tesla's steering wheel-free cybercab complies with safety standards. Tesla launched the pedal-less and mirrorless two-seater coupe in Austin, Texas, allowing customers to book rides through its RoboTaxi app. While Tesla told the National Highway Traffic Safety Administration that the cybercab meets all applicable safety standards, according to the filing, Nitsa said it wants to examine the process and technical data that Tesla relied on to make that claim. Tesla and Nitsa didn't

1:04immediately provide comments. We exclusively report that Chinese European electric trucking startup Windrose Technology is running low on funds and staff. People familiar with the matter say about 100 employees in China, or most of its workforce, there, departed after the company fell behind on wages. Windrose's CEO said he's restructuring to operate with fewer workers and attract investment, though the startup also faces a lawsuit and regulatory scrutiny. Despite saying it raised around $400 million dollars, workers in the US and China say Windrose ran out of money behind the scenes. And a smart ringmaker, ORA, has made its IPO paperwork public and is aiming to list on the NAVDAC as soon as this month. ORA is expected to fetch evaluation while above the $11 billion market achieved in a funding round last year. For the nine months and the June 30th, or a posted revenue of $1.2 billion dollars, up 74% from a year earlier. And the company said it recently turned

2:08profitable. ORA is popular among health and longevity enthusiasts. Its rings track metrics, such as heart rate, temperature, and sleep quality, and retail for $349 or more, plus subscription fees. The company said it has 5 million paying members. That's your TNB tech minute. Join us again this afternoon for more. This episode is brought to you by Hard Lessons, a podcast from Morgan Stanley. Some investing lessons only become clear after you see how a call plays out. On Hard Lessons, iconic investors sit down with Morgan Stanley leaders to go behind the scenes on the critical moments, both successes and setbacks that shape to they are today. Watch or listen to Hard Lessons wherever you get your podcasts.