Apple to Invest up to $1.5 Bln in Globalstar for Satellite Coverage Expansion

 30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)
30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)
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Apple to Invest up to $1.5 Bln in Globalstar for Satellite Coverage Expansion

 30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)
30 October 2024, US, New York: The Apple store is pictured on Fifth Avenue in Manhattan. (dpa)

Apple will invest up to $1.5 billion in Globalstar to fund the expansion of its iPhone communication services, the satellite provider said in a regulatory filing on Friday.

Shares of Globalstar jumped over 30%, while Apple was down around 1.4% a day after it forecast tepid quarterly revenue growth.

Under the funding agreement, Apple will commit $1.1 billion in cash and also purchase 20% equity in Globalstar for $400 million. The satellite company said it will use a portion of the funds to pay down debt.

The move is another in a line of partnerships between space firms and mobile service providers looking to provide satellite-based connectivity to customers in regions with limited network access.

Globalstar also said it will allocate 85% of its network capacity to Apple. The deal is expected to close on Tuesday.

The iPhone maker partnered with Globalstar in 2022 for a feature that would allow Apple users to send emergency messages from remote areas.



US Auto Safety Agency Reviewing Tesla Answers on Robotaxi Deployment Plans

FILE PHOTO: The logo of Tesla is seen on a store in Paris, France, October 30, 2020. REUTERS/Charles Platiau/File Photo
FILE PHOTO: The logo of Tesla is seen on a store in Paris, France, October 30, 2020. REUTERS/Charles Platiau/File Photo
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US Auto Safety Agency Reviewing Tesla Answers on Robotaxi Deployment Plans

FILE PHOTO: The logo of Tesla is seen on a store in Paris, France, October 30, 2020. REUTERS/Charles Platiau/File Photo
FILE PHOTO: The logo of Tesla is seen on a store in Paris, France, October 30, 2020. REUTERS/Charles Platiau/File Photo

US highway safety regulators are reviewing answers Tesla gave in response to the agency's questions about the safety of its self-driving robotaxi in poor weather, the agency said on Friday, ahead of plans to deploy the vehicles as soon as this weekend.

Tesla has sent invitations to a small group of people to join in a limited test of its robotaxi service in Austin, Texas, which is tentatively set to start on Sunday, according to posts and email screenshots on social media.

In a letter last month, NHTSA asked Tesla to answer detailed questions by June 19 on its plans to launch paid robotaxi service in Austin, to assess how the electric vehicle maker's cars with full self-driving technology will perform in poor weather, Reuters said.

The agency said it has received Tesla's response "and is in the process of reviewing it. Once our review has been completed the public file will be updated."

Tesla did not immediately respond to a request for comment.

The invitations said a Tesla employee will accompany riders in the front passenger seat, the posts showed. NHTSA asked Tesla if vehicles "will be supervised or otherwise monitored by Tesla in real time."

NHTSA has been investigating Tesla full self-driving collisions in reduced roadway visibility conditions since October. The probe covers 2.4 million Tesla vehicles equipped with full self-driving technology after four reported collisions, including a 2023 fatal crash.

The agency said in May it was seeking additional information about Tesla's development of robotaxis "to assess the ability of Tesla's system to react appropriately to reduced roadway visibility conditions" as well details on robotaxi deployment plans and the technology being used.

NHTSA said in May it wants to know how many vehicles will be used as robotaxis and the expected timetable for availability of robotaxi technology for vehicles controlled by people other than Tesla.

NHTSA's letter asked Tesla to describe how it intends to ensure the safety of robotaxi operations in reduced roadway visibility conditions such as sun glare, fog, airborne dust, rain, or snow. It also wants to know what happens if poor visibility is encountered during a ride.

Tesla CEO Elon Musk has said he will focus on safety in the trial, with humans remotely monitoring the vehicles.