Daily Archive: October 24, 2020

The electric car frenzy is helping even troubled companies raise big money

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The conventional path to taking a company public is pretty simple: demonstrate some early success, then sell shares for capital that can be used to expand. This year, electric vehicle startups have gone public in droves on those terms, with multibillion-dollar valuations doled out to innovators like QuantumScape, a battery developer, and Hyliion, which makes electrified powertrains for freight trucks.

EVs are so hot right now that startups don’t need to be particularly promising or novel to nab funding. Raising money before turning a profit is no longer particularly notable, but when it comes to EVs, years of outright failure are apparently just fine by some investors.

The latest example came early this month when EV startup Faraday Future announced that it is negotiating to … Read More

Five children killed in attack on Cameroonian school, say officials By Reuters

DOUALA (Reuters) – Gunmen killed five children and badly wounded about nine others when they opened fire in a school in the city of Kumba in Cameroon’s Southwest region on Saturday, officials told Reuters.

The officials blamed the attack on secessionist insurgents who are seeking to form a breakaway state in Cameroon’s English-speaking west, though Reuters was unable to immediately confirm that.

“They attacked around noon. They found the children in class and they opened fire on them,” Kumba sub-prefect Ali Anougou told Reuters. He said that nine others had been seriously wounded and sent to hospital.

Anglophone secessionists have imposed curfews and closed schools as part of their protest against President Paul Biya’s French-speaking government and its perceived marginalisation of the English-speaking minority.

Last year, officials blamed separatists for kidnapping dozens of schoolchildren, charges the separatists denied.

Disclaimer: Fusion Media would like to remind you that the data contained
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