Welcome to TechCrunch Mobility, your source for news and insights on the future of transportation. In this edition, we have a lot of updates to share with you. Before we dive in, we have an important announcement: TechCrunch Mobility will now be delivered to your inbox every Thursday morning. Make sure to sign up for free!
Now, let’s begin with some significant developments in the transportation sector. EV startup Fisker has laid off more employees in an effort to preserve cash as it faces the possibility of bankruptcy. Ride-hailing company Ola has also cut around 180 jobs and ousted its CEO, Hemant Bakshi, just four months after his appointment. Additionally, lidar company Luminar has reduced its workforce by 20% as part of a restructuring to adopt a more asset-light business model.
Another surprising move came from Tesla CEO Elon Musk, who decided to axe the automaker’s global Supercharger network team. This decision is particularly perplexing as non-Tesla EV drivers are gaining access to the network.
While these layoffs and restructuring efforts paint a gloomy picture for the transportation sector, there were also some brighter moments. Now, let’s take a closer look.
In the aftermath of Tesla’s Supercharger team cuts, insiders from various automakers that are adopting Tesla’s charging technology expressed shock and surprise. There was a lack of communication from human resources in the hours following the mass layoff, leaving former employees confused about severance and other details. It remains unclear why Musk made this decision and only he and the former head of the Supercharger team, Rebecca Tinucci, may know the answer.
Switching gears, let’s talk about some recent deals that caught our attention. Motional, an autonomous vehicle startup, secured a multi-million-dollar investment from Hyundai. This funding will be crucial for Motional’s goal of launching a driverless robotaxi service using Hyundai Ioniq 5 vehicles in 2024. The question now is whether Motional will seek additional investors to support its ambitious plans.
In other news, LiNova Energy, a California-based startup developing polymer cathode batteries, raised $15.8 million in a Series A funding round. Rivian, the electric vehicle manufacturer, received an incentives package worth $827 million from the state of Illinois to expand its production lines. Viking Holdings, a luxury cruise operator, also raised $1.54 billion in its IPO. Additionally, Swedish electric boat maker X Shore raised €8.5 million in new funding from existing backers.
Moving on to industry updates, the National Highway Traffic Safety Administration (NHTSA) has opened an investigation into Ford’s hands-free driver-assistance system, BlueCruise, following two fatal crashes. The NHTSA has also finalized a new safety standard that will make automatic emergency braking mandatory on all passenger cars and light trucks by September 2029. While the agency does not dictate the specific technology to be used, this development could benefit computer vision and lidar companies.
In the autonomous vehicle space, our contributor Tim Stevens takes us behind the scenes of the first Autonomous Racing League event in Abu Dhabi, where a self-driving car raced against a Formula 1 driver. He shares his observations and highlights the progress made in autonomous racing.
Lastly, our contributor Emme Hall test drove the new all-electric Acura ZDX Type S. While she expected to be delighted by the experience, she found it to be underwhelming due to the vehicle’s weight and lack of feedback in the steering. Despite its grip and cornering capabilities, the ride was slightly harsh. Hall continues her quest for an all-electric SUV that offers both fun and performance.
That concludes this edition of TechCrunch Mobility. Stay tuned for more news and insights on the future of transportation coming your way every Thursday morning.