Welcome again to TechCrunch Mobility — your central hub for information and insights on the way forward for transportation.
Earlier than I bounce into the all of the information — and boy there was so much! — I’ve an necessary replace for all of you beautiful readers. TechCrunch Mobility is shifting to Thursdays! It is going to be the identical e-newsletter full of information and insights on the sector, however simply touchdown in your inboxes Thursday morning. Join right here totally free — simply click on TechCrunch Mobility!
EV startup Fisker laid off extra workers to “protect money” as chapter inches ever nearer; ride-hailing firm Ola reduce about 180 jobs and ousted its chief government, Hemant Bakshi, merely 4 months after appointing him to the publish; and lidar firm Luminar slashed its 700-person workforce by 20% as a part of a restructuring to undertake an “asset gentle” enterprise mannequin.
Oh, after which there was Tesla CEO Elon Musk, who axed the automaker’s world Supercharger community staff. That perplexing resolution comes simply as non-Tesla EV drivers achieve entry to the community.
That’s to not say the complete transportation sector was surrounded by financial storm clouds. There have been brighter moments as properly. Let’s go test it out!
A bit of hen
Within the fallout from Tesla’s nice Supercharger culling, we’ve spoken to a number of little birds, together with those that have been laid off and folk working at different automakers. As I discussed above, Elon Musk gutted Tesla’s world Supercharger group of about 500 folks. Insiders at a number of completely different automakers — all of that are adopting Tesla’s charging tech — stated they didn’t see this coming. “Shocked” and “surprised” have been the most typical phrases I heard.
On the worker entrance, there was a scarcity of communication from human assets within the hours straight following the mass layoff. Some informed me they and their fellow former co-workers had not obtained details about severance and that communication had stopped altogether. Just a few of these people had obtained severance emails by Friday. The entire folks I communicated with have been nonetheless struggling to know why Musk would reduce the Supercharger staff — a company that’s elementary to Tesla and its EV gross sales. Others surmised solely Elon and perhaps the previous head of the Supercharger staff, Rebecca Tinucci, would ever know the reply.
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Offers!
It’s been a minute since we heard of an autonomous automobile startup elevating a considerable sum of money — or heck any cash in any respect. That every one modified this week when Motional scored an important multi-million-dollar win, courtesy of Hyundai.
Hyundai’s complete dedication is $1 billion, however there are necessary particulars. Right here’s the way it breaks down. Hyundai invested $475 million straight into Motional as a part of a broader deal that features shopping for out three way partnership companion Aptiv. Hyundai is spending one other $448 million to purchase 11% of Aptiv’s widespread fairness curiosity in Motional.
The fast backstory: Motional was shaped in 2019 as a $4 billion three way partnership between Hyundai and Aptiv. Motional has spent the previous a number of years plugging away at its autonomous automobile tech, working towards a aim of launching a robotaxi service utilizing driverless Hyundai Ioniq 5 autos in 2024. As Motional and Hyundai obtained nearer — the businesses introduced plans in November to co-develop production-ready variations of the all-electric Ioniq 5 robotaxi — it appears Aptiv started to know its personal monetary limitations. By January, Aptiv chairman and CEO Kevin Clark flagged that the corporate would scale back its possession curiosity in Motional and cease allocating capital to the enterprise because of the excessive price of commercializing a robotaxi enterprise and the lengthy street forward to income.
The choice, whereas not notably shocking to the trade insiders I spoke to, nonetheless put Motional and Hyundai in a sticky spot. Would Hyundai step up? Would exterior buyers step in? Hyundai answered the decision.
My query is will Motional, with the blessing of Hyundai, search out different buyers? That may all come right down to how a lot capital Motional is burning by and whether or not it continues to chase the identical robotaxi objectives. In that case, it appears the corporate will ultimately want extra capital.
Different offers that obtained my consideration …
LiNova Power, a California-based startup growing polymer cathode batteries, raised $15.8 million in a Sequence A funding spherical led by Catalus Capital, which was joined by Saft, a subsidiary of TotalEnergies, Chevron Know-how Ventures and a syndicate of buyers.
Rivian was awarded an eye-popping $827 million incentives package deal from the state of Illinois, funds that will probably be used to construct out manufacturing traces for its next-generation EV, the R2.
Viking Holdings, the posh cruise operator backed by non-public fairness agency TPG and the Canada Pension Plan Funding Board, raised $1.54 billion in its IPO.
X Shore, a Swedish electrical boat maker based in 2016, raised €8.5 million in new funding from a number of unnamed current backers, together with founder Konrad Bergström.
Notable reads and different tidbits
ADAS
The Nationwide Freeway Site visitors Security Administration opened an investigation into Ford’s hands-free driver-assistance system, BlueCruise, after it was discovered to be lively throughout two latest crashes that killed a number of folks.
The NHTSA made one other large transfer within the sector and finalized a brand new Federal Motor Car Security Normal that may make automated emergency braking, together with the flexibility to detect and robotically brake for pedestrians, commonplace on all passenger automobiles and light-weight vehicles by September 2029. The company stated the protection commonplace is predicted to considerably scale back rear-end and pedestrian crashes. Now, the NHTSA isn’t selecting the know-how automakers have to make use of. A lot of laptop imaginative and prescient and lidar corporations have reached out to me to notice the way it might be helpful to their enterprise fashions.
Autonomous autos
TC contributor Tim Stevens takes us behind the scenes of the primary Autonomous Racing League occasion in Abu Dhabi that pitted a self-driving automotive towards a Formulation 1 driver. His take? Sure, there have been struggles; he additionally noticed a whole lot of progress.
Electrical autos, charging & batteries
Keep in mind final yr when Henrik Fisker proudly debuted two prototypes designed to catapult his eponymous EV startup into the mainstream? TC reporter Sean O’Kane realized the engineering agency that helped develop these autos is suing Fisker for $13 million in damages. Learn extra to find out about this lawsuit, plus a number of others.
This week’s wheels
Picture Credit: Emme Corridor
I turned the wheel over to TC contributor Emme Corridor this week for a take a look at drive of the brand new all-electric Acura ZDX Kind S. You’ll be able to learn the complete assessment right here, plus I recommend you watch her video of the hands-free superior driver-assistance system within the automobile. For many who need a sneak peek earlier than committing to the longer learn, right here’s the gist.
Corridor anticipated pleasure and delight. As an alternative, it was extra meh. Right here’s one of many whys. The Kind S weighs over 6,000 kilos. Even when the load is evenly distributed entrance to rear, that’s a whole lot of heft to get round a flip. She appreciated the hefty steering, however there wasn’t a lot suggestions occurring.
“The torque is all the time there on nook exit and physique roll is stored in verify, but I’m not feeling the delight,” she wrote, including that the 275/40 Continental Premium Contact 6 summer season tires on the Kind S supplied up loads of grip, however the low-profile sidewall mixed with the more durable run-flat rubber compound meant that the experience was only a contact harsh.
Corridor’s pursuit of an all-electric SUV that’s enjoyable by the twisties continues.
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