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This Wall Street Analyst Forecast Tesla’s Dominance. Here’s What He Says Will Shake up the Auto Industry Next.

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Adam Jones, Global Auto Analyst at Morgan Stanley, warned that the manufacturing of an electrical automobile by way of both Tesla or Rivian might be dangerous information for normal automotive makers in Detroit. Why? This wildly successful section of the automobile business is one who auto corporations don’t fiddle with.

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Amazon Plunks Down Major Cash to Invest in Tesla Competitor Rivian

As CCN reported, Amazon led a $700 million investment spherical in Tesla rival Rivian Automotive LLC. According to the reviews, whilst GM wasn’t incorporated within the spherical as in the past speculated, analysts be expecting the automaker to inject budget into Rivian sooner or later.

Speaking at the investment spherical, Rivian CEO RJ Scaringe remarked:

“Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience. Delivering on this vision requires the right partners, and we are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible.”

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Rivian Schemes to Beat Tesla to Market with an Electric Pickup

This Amazon-led Rivian investment spherical most likely gained’t be the EV startup’s closing, however for now, the automaker is flush with money and it might be knocking on Tesla’s door in 2020 – when it plans to release its first batch of vehicles. Tesla holds the aces for the EV marketplace, and it’s been doing so for some time.

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Recent reviews display the California automotive maker has extended its run at the leaderboard by way of far because of the ongoing manufacturing of the Model 3, which shipped virtually 56,000 gadgets within the U.S. by myself. While Tesla is king for sedans, there’s no king for pickup vehicles but, just because no person has produced any.

Rivian’s All-Electric R1T

Rivian can be having a look to achieve the incumbency energy by way of creating the primary electrical pickup truck within the U.S. With a colourful pool of farmers, skilled contractors, and leisure drivers, there’s a big marketplace looking ahead to an EV truck when it launches.

Rivian has taken a large step, previewing its R1T on the Los Angeles Auto Show in November. Company CEO RJ Scaringe defined that the R1T would ship 400 miles of vary, be capable to hit 60 mph in Three seconds, and tow as much as 11,000 kilos – now not dangerous for an EV truck. For pickup drivers, the towing capability in their vehicles topic and this selection from Rivian is usually a sport changer.

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Last 12 months, Americans bought 2.7 million pickup vehicles, and heavy-duty variations accounted for greater than 35 percent, in keeping with IHS Markit. Why the pickup truck marketplace may just desire EV producers is because of the evolving wishes of consumers. The profile of the common heavy-duty purchaser has modified through the years from contractors and developers to incorporate non-commercial consumers who now make up two-thirds of the marketplace.

Tesla’s Summer Plan

While Rivian’s R1T were given best marks ultimately 12 months’s Los Angeles Auto Show and now has a significant stamp of approval from Amazon, it’ll must deal with long term pageant from Tesla, the electrical marketplace’s reigning king.

Tesla CEO Elon Musk has bragged concerning the corporate’s plan for vehicles, pronouncing that he would really like to paintings on pickup truck cars, together with the ones with all-wheel pressure and “crazy torque & a suspension that dynamically adjusts for load.”

No Tesla truck has been officially introduced, however that might alternate quickly. Speaking on a convention name after Tesla’s Q4 2018 profits file, Musk mentioned:

“We might be ready to unveil that this summer. It will be something quite unique, unlike anything.”

Featured Image from Ben Moon / Rivian / Handout by means of REUTERS

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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