Welcome to the latest edition of TechCrunch Mobility! We’ve got some exciting news and insights on the future of transportation to share with you today. Let’s dive right in.
Motional, the autonomous vehicle startup formed by Hyundai and Aptiv, made headlines this week. Following Hyundai’s $1 billion investment in Motional, the company has announced a pause in its commercial operations. The launch of their driverless taxi service has been pushed to 2026, a delay of two years. This decision aims to allow Motional to focus on advancing its core technology while conserving capital. Unfortunately, this move has resulted in significant layoffs across the organization, with hundreds of employees affected.
In other news, we’ve seen some major deals in the autonomous vehicle industry recently. Wayve, a UK startup, secured $1.05 billion in a Series C funding round led by SoftBank Group. Wayve takes a self-learning approach to autonomous driving, utilizing end-to-end deep learning rather than a rules-based system. Unlike companies like Waymo and Cruise, Wayve plans to be a supplier to original equipment manufacturers (OEMs) rather than operating its own robotaxi fleets.
There have also been notable investments in the electric vehicle (EV) sector. EnviroSpark, an EV charging company, raised $50 million from Basalt Infrastructure Partners. Meanwhile, Momenta, a Chinese autonomous vehicle tech startup backed by GM, has filed confidentially for a U.S. IPO that could raise $200-300 million. Zeekr Intelligent Technology Holding, a Chinese EV brand under Geely Holding, is also preparing for its IPO after receiving approval from the New York Stock Exchange.
Let’s take a look at some interesting reads and tidbits from the industry. Mobileye CTO Shai Shalev-Shwartz commented on the role of lidar in meeting regulatory standards for advanced driver assistance systems (ADAS). While cameras are currently not sufficient for ADAS, Shalev-Shwartz believes that lidar may be required in the future. This raises questions about the ongoing debate between camera-based and lidar-based autonomous systems.
In the world of electric vehicles, TC reporter Sean O’Kane interviewed the founders of Bloom, a company aiming to revolutionize e-bike manufacturing in the United States. This could have significant implications for the e-bike industry and sustainability efforts.
Speaking of micromobility, Estonian company Bolt Technologies is making moves to launch scooter operations in the U.S. market. With the growing demand for alternative transportation options, this expansion could provide consumers with more choices for short-distance travel.
Turning to earnings reports, Luminar, a leading lidar manufacturer, revealed that Tesla is now its top customer, accounting for over 10% of its revenue in the first quarter of 2024. This highlights Tesla’s commitment to incorporating lidar technology into its autonomous driving systems. Lucid Motors announced the resignation of senior vice president of digital Mike Bell, who played a significant role in Apple and Intel’s success. Bell will continue to advise the company during the transition period.
Rivian, the electric vehicle manufacturer, reported a $1.45 billion loss in the first quarter, indicating that their cost-cutting measures are still a work in progress. CEO RJ Scaringe provided updates on their progress during the earnings call. Additionally, Uber CEO Dara Khosrowshahi shared that membership fees from their Uber One program have surpassed $1 billion on an annual basis. Uber plans to offer even more perks to members to enhance user loyalty.
Now, let’s move on to “This week’s wheels,” where we share our experiences testing various transportation products. This week, we had the opportunity to drive the all-electric Mercedes-Benz eSprinter, an impressively large electric van. We also had a chance to test the 2024 Mitsubishi Outlander PHEV, a plug-in hybrid SUV. Stay tuned for our detailed reviews of these vehicles.
That’s it for today’s edition of TechCrunch Mobility. We hope you found these news and insights valuable. Be sure to sign up for our newsletter to stay up to date with the latest developments in the world of transportation. Until next time!
