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Welcome again to The Station, your central hub for all previous, current and future technique of shifting individuals and packages from Level A to Level B.
Hi there! And goodbye! Nicely, at the very least till 2024. The Station goes to take a bit break by the tip of this 12 months. I wish to thanks all for studying our weekly publication and reaching out to me with ideas, ideas and criticism. Sure, I even recognize the considerate pushback.
It’s been an action-packed 12 months with new startups rising (so many electrical boat and RV corporations, am I proper?), a bevy of EVs hitting the street and quite a lot of business milestones achieved within the autonomous automobile trade. There have been, in fact, gloomy and even surprising moments too. A variety of startups failed, together with a bunch of mobility SPACs, and layoffs have been pervasive even into this final month of the 12 months. Two of the extra gorgeous tales have been throughout the autonomous automobile trade: the founders of the defunct Argo AI coming again with a brand new Softbank-funded AV startup and the downfall of Cruise.
The Cruise story continues to unfold and can seemingly play out nicely into 2024. This previous week was a doozy for Cruise, albeit an anticipated one. The upshot: the Cruise board, and by extension the GM board, are cleansing home in an effort to salvage years of technological progress. As a part of that mission, nine top leaders have been dismissed and 900 workers were laid off.
We’ll be following the Cruise story into subsequent 12 months. However that isn’t our solely focus.
Right here at TechCrunch, our staff cares about the way forward for transportation from new EVs and battery tech to electrical and hydrogen aviation, autonomous automobiles, micromobility and in-car tech. Which means extra than simply highlighting the subsequent new new factor. As a substitute, we attempt to clarify why it issues and who it would have an effect on. In different phrases, we’re the sort of of us who take that unlikely exit or facet street to discover what others might keep away from. We hope you’ll be a part of us on the experience.
See you within the New Yr!
Wish to attain out with a tip, remark or criticism? E-mail Kirsten at [email protected]. Reminder you could drop us a notice at [email protected]. In case you desire to stay nameless, click here to contact us, which incorporates SecureDrop (instructions here) and numerous encrypted messaging apps.
Micromobbin’
The large story in scooterville was the “seemingly” abrupt determination by Superpedestrian to shut down its U.S. operations and start to discover the sale of its European enterprise simply 18 months after raising $125 million. I hate to say I noticed this coming, however nicely let’s simply say I wasn’t shocked by the information contemplating that in late November, Superpedestrian began letting go of some European executives who have been in control of world growth and operations.
Superpedestrian’s Hyperlink scooters are in about 60 cities throughout 11 nations, however they’ll be pulled from most markets by the tip of 2023. The startup positioned itself as a protected metropolis associate, investing in its superior rider help know-how by acquiring Navmatic in July 2021. What got here out of that was Pedestrian Protection, Superpedestrian’s GPS-based security system that allowed it to detect and proper unsafe rider habits in actual time. However that system competed with different camera-based laptop imaginative and prescient methods, like these popularized by Drover AI and Luna. Lime, the one large scooter firm that appears prefer it may survive, applied its personal model of the rider help tech to its scooters in July 2022, across the similar time that Superpedestrian began issuing layoffs.
Shared micromobility is a tough enterprise to get proper, as we’ve seen from the steadiness sheets of public corporations Hen and Micromobility.com (previously Helbiz). Hen not too long ago acquired kicked off the inventory market, issued a pair rounds of layoffs and might be near submitting for chapter. Micromobility.com issued not one, however two reverse inventory splits this 12 months, and its inventory worth continues to be circling the drain. And after some failed talks to get acquired, Tier Mobility additionally issued layoffs in November. Oh, and let’s not neglect the mysterious disappearance of Bolt.
My query now’s, which one might be subsequent to say scoot off into the good past?
— Rebecca Bellan
Deal of the week
Only a bunch of offers this week!
Dimensional Vitality, New York-based startup growing sustainable aviation gasoline from carbon dioxide emissions and water, raised $20 million in a Collection A spherical led by Envisioning Companions. Strategic buyers resembling United Airways’ sustainable flight fund, Microsoft’s local weather innovation fund, RockCreek’s good aviation futures fund, DSC Funding, Delek US and New York Ventures in addition to present buyers like Elemental Excelerator and Chloe Capital additionally participated.
DST, a Chinese language new vitality automobile fleet administration firm, accomplished a $80 million financing spherical to gasoline R&D investments and real-time computational analytics.
Exponent Vitality, the Indian EV charging startup, raised a $26.4 million Collection B, led by Eight Highway Ventures and TDK Ventures. The funds will assist Exponent develop its 15-minute charging answer to 5 main Indian cities in FY 2024 and enter the intercity e-bus phase. The corporate plans to deploy 1,000 of its charging stations and have 25,000 EVs powered by Exponent by 2025.
Lyko, a Mobility as a Service startup, raised 1.4 million euros ($1.53 million) from Habert Dassault Finance, Afrimobility (Akwa Group), angel buyers and banks together with Bpifrance, Crédit Mutuel, and Caisse d’Épargne.
Metafuels, a sustainable jet gasoline startup, raised $8 million in a spherical led by Vitality Impression Companions and Contrarian Ventures.
Vammo, the São Paulo-based startup that desires to scale electrical bike battery swapping in Latin America, raised $30 million in Collection A spherical to seize the expansion in reputation of bikes throughout the area. The fairness and debt spherical was led by Monashees with participation from local weather tech fund 2150 and Maniv Mobility.
Notable reads and different tidbits
ADAS
Tesla is limiting using its Autopilot driver-assistance software as a part of a two-million-vehicle recall. Reporter Sean O’Kane explains what and why this issues.
Autonomous automobiles
TechCrunch reporter Rita Liao digs into the nuanced new AV regulations in China. “A close read reveals some interesting contrasts between the perspectives of Chinese and U.S. regulators regarding the nascent technology,” Liao writes.
Waymo retains chugging alongside, this week with an essential enlargement. Choose riders can now be picked up or dropped off by the corporate’s robotaxis curbside at Phoenix Sky Harbor Worldwide Airport. It’s restricted to make certain, however nonetheless a milestone.
WeRide begins testing autonomous buses in Singapore, signaling its world ambitions.
Automobile sharing and different gig economic system bits
European Union lawmakers have lastly reached a deal on the ultimate form of the Platform Employee Directive, which is designed bolster gig employee rights.
Getaround, the startup-turned SPAC that permits automobile house owners lease their automobiles out to their friends, filed its first earnings report. Tl;dr: a pop in income that means the corporate is rising, however nonetheless not sufficient to be worthwhile.
Electrical automobiles, batteries & charging
Chevrolet invited reporters, together with yours really, to drive the 2024 Chevy Blazer EV. My ideas? There’s a lot to love about this automobile. Regardless of all of its wins, the Blazer EV, which is meant to be a quantity vendor, is just too costly for what it presents.
Ford is slashing its production target for the all-electric F-150 Lightning to match weak demand.
Jon McNeill, the previous president of Tesla, founding father of enterprise DVx and vice chair of the Cruise board, wrote an fascinating op-ed in TechCrunch debunking the latest storyline that EV demand is weakening. He argues that knowledge reveals EV gross sales are thriving, however warns that the U.S. should take motion if it needs to remain within the world race.
Sila, a 13-year-old firm that has raised greater than $900 million to this point, signed a milestone deal to supply Panasonic with its Titan Silicon anode materials. Manufacturing will occur at Sila’s future Moses Lake facility, the place the startup not too long ago broke floor.
Taiwanese electrical scooter maker Gogoro launched a battery-swapping community and three smartscooters to India, marking the corporate’s official entry into the world’s most populous nation and largest two-wheeler market.
Tesla’s $50,000 menace to Cybertruck resellers could also be again in any case.
Uber Freight and Greenlane, a $650 million JV between Daimler Truck NA, NextEra Vitality and BlackRock, are working collectively to speed up the deployment and set up of public charging infrastructure for heavy obligation EVs.
The US-China tech warfare is escalating over EV battery dominance.
In-car tech
The U.S. Nationwide Freeway Visitors Security Administration need anti-drunk-driving tech in automobiles. Right here’s what stands in the best way.
