General Motors suing Ford for alleged trademark violations on Super Cruise
Electric vehicle start-up Rivian is closing a $2.5 billion funding round led by Amazon, Ford, and T. Rowe price. Overall, the company has raised about $10.5 billion to date. This comes days after Rivian announced it plans on opening a second manufacturing plant in the U.S. Rivian will soon be a part of Amazon's delivery service as well after the company purchased 100,000 electric vehicles from the start-up.
General Motors and its cruise robo-taxi subsidiary are suing Ford for alleged trademark violations. GM claims Ford's use of the "Blue Cruise" name infringes on GM's Super Cruise trademark, as well as Cruise's trademark. Ford responded to the suit, calling it meritless and frivolous. GM first announced in 2012 it would be using the name Super Cruise for its hands-free driver assistance technology while Ford announced the name Blue Cruise for theirs in April of this year.
Boston Beer CEO David Burwick admitted the company was shocked at its low hard seltzer sales, even saying management "does not look very smart" after its prior forecast. The owner of hard seltzers saw a massive sell-off after disappointing earnings last week. Weaker-than-anticipated demand for those seltzers was the key culprit for the earnings miss. Shares closed down 26% on Friday at $701 apiece. Burwick initially said back in May the company was "very confident" in the hard seltzer category.