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The curtains have closed on Monterey Car Week, an event that remains true to its roots while progressively embracing electric vehicles (EVs) and technology. This year’s gathering on the Monterey Peninsula attracted a younger demographic, with a notable presence of Silicon Valley tech minds, as observed by TechCrunch’s own Abigail Bassett. Dive into her piece on the standout EVs showcased during Monterey Car Week.
The highlight of the show was Rimac presenting the Nevera R, an even more powerful iteration of the already formidable Nevera hypercar. Meanwhile, TechCrunch caught up with Porsche’s North America CEO Timo Resch, who opened up about the eagerly awaited all-electric Macan EV and Porsche’s strategies for navigating a challenging market. Furthermore, Polestar’s CEO, Thomas Ingenlath, voiced his concerns regarding the current political climate, the forthcoming Polestar 3, and the company’s ambition towards financial independence from major shareholders Geely Holding Group and Volvo.
But there’s much more beyond Monterey Car Week — let’s get into it!
A little bird
A reliable source disclosed that Canoo announced during an all-staff meeting its intention to shut down its Los Angeles workspace — its birthplace since its inception in late 2017. The firm’s new base will be in Justin, Texas, aligning with its presence there since around the time Tony Aquila ascended as chairman and CEO.
This move follows a previously contemplated but ultimately retracted plan to relocate the headquarters to Bentonville, Arkansas, amid negotiations with Walmart.
In a discreet note within its last quarterly SEC report, Canoo revealed plans to offer “relocation to roughly 137 employees of the 194 stationed at the Torrance Facility.” These relocations will either be to Texas or Oklahoma — the latter being a location Canoo has been eyeing for a manufacturing plant for some time. Those not relocating will face termination.
Regardless, these California positions are being phased out, with the LA office slated to close on October 15. This development comes as Canoo’s workforce shrank to 651 by the end of 2023, down from almost 1,000 in late 2022.
The closure of the LA office by Aquila was somewhat anticipated by Canoo employees, particularly following the departure of co-founder and chief design officer Richard Kim in April 2023. The company has faced challenges ramping up to significant production levels and has seen several strategic pivots under Aquila’s leadership.
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Deals!
A few noteworthy deals this week…
AutoScout24, an automotive marketplace based in Germany, successfully acquired its Canadian counterpart, Trader Corp., from Thoma Bravo, a private equity firm.
BeyondMath, a startup that utilizes AI for physical simulations, secured $8.5 million in a seed investment round. The funding round saw participation from UP.Partners, Insight Partners, and InMotion Ventures. TechCrunch editor Devin Coldewey featured BeyondMath’s innovative “digital wind tunnel”, highlighting its application in F1 car simulations.
Re:Build Manufacturing, focusing on revitalising industrial manufacturing within the U.S., attracted a $120 million investment in a recent financing round spearheaded by General Catalyst.
Notable reads and other tidbits
Autonomous vehicles
Waymo announced it’s now completing over 100,000 paid robotaxi rides weekly across its main operational hubs in Los Angeles, San Francisco, and Phoenix. To give some perspective, this count has doubled since its last disclosed figures. An interesting detail from my report: Under its California deployment permit, Waymo operates 778 robotaxis, based on information obtained through a Freedom of Information Act request with the California Department of Revenue. It’s not clear how many of these are active in Phoenix.
Electric vehicles, charging & batteries
Gogoro, based in Taiwan and known for its electric two-wheelers, has postponed its ambitious plans for the Indian market. Meanwhile, it has embarked on a bike-taxi pilot with Rapido to evaluate its vehicles’ performance in real-world conditions.
Rivian introduced a more compact and affordable $1,400 camp kitchen option. A historical note: More than five years ago, Rivian showcased its first kitchen prototype, which was much larger and pricier. Today, customers have the opportunity to make a purchase.
Uber appointed Rebecca Tinucci, previously leading Tesla’s Supercharger initiative, as its new Head of Global Sustainability.
Volkswagen continues its gradual progress towards the U.S. launch of its electric minivan. The 2025 ID. Buzz is priced at $59,995 for the Pro S model featuring seven seats, rear-wheel drive, and a 91 kWh battery with an EPA-estimated 234 miles range.
Future of flight
Skyryse, aiming to create a universal flight operating system, inaugurated its latest facility at California’s Hawthorne Airport.
In-car tech
General Motors has reduced its software team by about 1,000 members worldwide. Coincidentally, I’m in Detroit this week visiting GM to gather insights on the Sierra EV and its software development strategies. This downsizing is a strategic move and construed as essential for GM to avert situations like the previous year’s Chevrolet Blazer EV hiccup. More details to follow.
This week’s wheels
What are “This week’s wheels”? It’s our showcase of various transportation devices we’re evaluating, ranging from electric or hybrid vehicles to e-bikes, and possibly even autonomous rides. On the docket are Nissan Leaf, a selection of e-bikes, and the GMC Sierra EV.
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