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Uber Technologies Inc.’s former Chief Executive Officer Travis Kalanick is stepping down from the board, severing his last ties to the company he co-founded a decade ago and helped become one of the world’s most valuable, and controversial, startups.

Rivian Automotive Inc., the electric truck maker already backed by Amazon.com and Ford Motor Co., raised another $1.3 billion from investors led by T. Rowe Price to support the rollout of its debut vehicles next year.

Tesla Inc. climbed above $420 for the first time Dec. 23 as fresh financing arranged from banks in China added to optimism supporting a monthslong rally.

Volvo Group appointed Nils Jaeger president of its new autonomous solutions business unit.

Volvo Group agreed to sell its UD Trucks unit to Isuzu Motors Ltd. for about $2.3 billion and announced plans to forge a strategic alliance with its Japanese rival, the latest sign of consolidation in the global automotive industry.

Teams of researchers based at three state universities will spend the next three years developing ways to help North Carolina prepare for autonomous vehicles and other new transportation technologies.

For the trucking industry, 2019 was a year of transition, replete with regulatory victories and disappointments.

MILAN — The boards of Fiat Chrysler Automobiles and PSA Peugeot on Dec. 18 signed a binding merger deal creating the world’s fourth-largest automaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies.

Self-driving truck company TuSimple announced its autonomous technology reduced fuel consumption for trips by its prototype heavy-duty trucks by at least 10% compared with manually driven trucks.