Lyft has received $1 billion in new financing led by Alphabet's investment fund, CapitalG. The financing is in addition to $600 million raised six months ago, and Lyft said the funds will increase the company's valuation to $11 billion.
The Colorado Transportation Commission has unanimously approved the allocation of $250 million to widen Interstate 25 and add toll lanes in each direction -- if the federal government comes up with the $100 million more the project will cost.
R. Richard Geddes, a visiting scholar at the American Enterprise Institute, believes public officials in the US need to better understand how public-private partnerships work so they can discover the benefits of the infrastructure projects. He contends that private companies in a P3 usually assume cost overrun risks, which gives them an incentive to keep things under control.
A $1.2 billion loan for private companies involved in building private toll lanes on Interstate 66 in Virginia has been approved by the federal government. The final design will be the focal point of public hearings next month, and construction could begin by year's end.
The Indiana Department of Transportation is looking to hire a firm to prepare a strategic plan and determine what environmental impact studies would be needed if the state decided to toll five interstates. HDR is already conducting a study on revenue projections and the economic impact.
Bulgaria wants to charge tolls for trucks over a certain weight and has awarded a contract to Kapsch TrafficCom to assist in the process. The company will install a satellite-based system, which allows for greater flexibility in determining toll charges by calculating miles traveled, vehicle weight and type of road being used.
Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming have signed a memo of understanding to draft a plan for electric vehicles in their region. The goal is to create the infrastructure for electric vehicles traveling along the major corridors among the states, and that includes creating enough charging stations along the way.
Overnight closure of the Detroit-Windsor tunnel will begin today for a $17.6 million project to repair the ceiling. The project, which is being funded by toll revenue, will close the tunnel each night for 10 days, followed by intermittent closures until June.
Abertis has asked Atlantia to increase its takeover bid from $19.8 billion in the wake of ACS' Hochtief's bid of $22 billion. If Atlantia succeeds in its bid, it will have toll-road operations worldwide, but if Hochtief wins, the new company will be similar to Vinci SA, which both builds and operates roads.
Toyota Motor will soon unveil artificial intelligence for autonomous cars that will be able to read the driver's emotions and alertness through actions, expressions and tone of voice. The AI, which could help predict and control dangerous situations, will be displayed in the company's new concept vehicle.
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