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These days, navigating the Electric Vehicle (EV) industry feels akin to steering through a storm. Every player, from traditional car manufacturers like Ford to emerging challengers, is feeling the pressure.
Consider the journey of Polestar, the EV newcomer turned publicly traded entity. Despite experiencing its fair share of hurdles, Polestar‘s CEO Thomas Ingenlath shared an optimistic outlook about forming an independent enterprise during a conversation at Monterey Car Week. Nevertheless, Ingenlath will not see this vision to fruition as CEO, having been succeeded by another leader.
Polestar is not alone in experiencing top-level managerial changes. This week, senior reporter Rebecca Bellan unveiled news about Fluid Truck, a company initiated with the aim of revolutionizing the rental of commercial vehicles. Here’s the gist: The company’s founding siblings, CEO James Eberhard and chief legal officer Jenifer Snyder, were reportedly forced out in a boardroom coup led by two minority investors. For more details, read the full story here.
Now, let’s delve into more updates! Zoom!
Whispers in the Wind
Whispers indicate that Joby Aviation has secured a deal with Virgin Atlantic. It’s rumored the collaboration will be marked by a photo session featuring Joby’s eVTOL alongside Virgin’s crew in London.
When we sought confirmation from Joby, the company neither confirmed nor denied the partnership. However, the alliance doesn’t come as a surprise, particularly considering Joby’s exclusive agreement in 2022 with Delta in the U.S. and U.K. Given Delta’s substantial ownership stake in Virgin Atlantic, integrating the airline into this partnership seems a logical extension.
Delta’s travelers might enjoy premium services, including air-taxi transports from urban vertiports straight to the airport, a courtesy of the collaboration. In return, Delta supports Joby with the required vertiport infrastructures for takeoffs and landings. The partnership also involves a preliminary investment in Joby by Delta amounting to $60 million, potentially escalating by another $200 million upon reaching certain benchmarks. The specifics of Virgin Atlantic’s involvement, including any additional investments, remain unspecified.
Got any tips? Reach out to Kirsten Korosec at kirsten.korosec@techcrunch.com, Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com. Alternatively, discover how to communicate with us securely through encrypted messaging apps or SecureDrop.
Exciting Ventures!
Wayve, the U.K.-based startup that recently secured $1.05 billion in Series C funding, has attracted investment from giants like SoftBank Group, Nvidia, and Meta due to its unique approach to autonomous driving technology.
It now looks like Uber has also thrown its support behind Wayve. The ride-sharing titan announced a strategic investment in Wayve, part of the latter’s Series C funding extension. Although the investment sum remains undisclosed, senior reporter Rebecca Bellan offers insights into the partnership.
In a related note: I had the opportunity to speak with Wayve co-founder and CEO Alex Kendell on The Autonocast, a podcast I co-host. For an engaging discussion, give it a listen.
Other deals catching our eye include:
Enteligent, the innovative California startup known for its solar-powered DC-to-DC EV chargers, secured $6 million in recent financing, led by Taronga Ventures. To date, Enteligent has raised $19 million since its inception in 2021.
Nickelytics, well-known for its tech-driven advertising solutions, recently acquired TruckAds, a truck-side advertising pioneer. The terms of the deal remain undisclosed.
Swiftly, a leading transit data platform, expanded its capabilities by acquiring Hopthru, a data and analytics firm. The financial details were not made public.
WeRide has decided to delay its initial public offering. The autonomous vehicle titan was aiming to raise about $110 million at a valuation of $5 billion.
Serve Robotics, known for its autonomous sidewalk delivery bots, completed a $20 million private funding round. The company also garnered an additional $15 million by executing existing warrants, bolstering its expansion plans.
Insightful Reads and More
Self-Driving Expeditions
Cruise appears to be gearing up for a significant presence in the market. The company has sealed a long-term agreement with Uber, planning to introduce its autonomous vehicles to the latter’s platform by 2025. While the exact timeline for seeing Cruise’s offerings on Uber isn’t specified, a spokesperson mentioned that this initiative succeeds the relaunch of Cruise’s own driverless service.
Amidst Waymo‘s expansion, there’s a buzz of activity. Highlights from this week:
- A glimpse into a possible subscription service by Waymo was revealed, aimed at teenagers for solo rides with parental notifications on pickups and drop-offs, according to the San Francisco Standard.
- Additionally, Waymo has commenced offering round-the-clock rides for terminal curbside pickups and drop-offs at Phoenix Sky Harbor International Airport.
And in case you were wondering …
I had previously promised insights from software engineer Sophia Tung‘s interaction with Waymo’s Product and Operations Director Vishay Nihalani, including details on:
- The lack of direct communication between Waymo’s autonomous vehicles on the road.
- Circumstances leading to a Waymo robotaxi looping around parking lots are indicative of a canceled ride.
- The company’s mindful approach towards cost management, emphasizing the need for efficient charging workflows as expressed by Nihalani.
EVs, Charging Solutions, & Batteries
Beam Mobility found itself under scrutiny after reports by The Australian highlighted the company’s practice of deploying numerous non-existent “phantom” scooters across cities in Australia and New Zealand, aiming to circumvent local government fees.
Canoo, losing its chief technology officer Sohel Merchant, faces a pivotal moment. Merchant’s departure, as confirmed by sources to TechCrunch, marks a significant shift for the team formed in late 2017.
Tesla‘s Supercharger stations remain closed off to non-Tesla electric vehicles, over a year after major manufacturers, including Ford and GM, announced agreements for access, the NYT reports.
A Mixed Bag
Lyft is emulating Uber by initiating a rider verification process.
The Port of Seattle, managing Seattle-Tacoma International Airport, recently disclosed being the target of a “potential cyberattack.”
Spotlight on Wheels
My recent experience with a 2024 Nissan Leaf SV Plus, priced at $37,815 (destination fee included), was a journey of mixed feelings. Although the Leaf begins at a lower price point, the model I tested featured a larger 60 kilowatt-hour battery offering around 212 miles of range.
As an entry in the competitive EV marketplace, the Leaf’s absence of certain features was notable, especially considering its price tag. Expectations of high-resolution backup cameras were unmet.
On the road, the Leaf showed commendable acceleration and managed to hold its own against more aggressively tuned vehicles on my usual high-elevation drive, although it may not rank as the most exhilarating EV driving experience. The Leaf, however, is not designed to be such a vehicle.
For daily use, the Leaf proved adequate, and home charging posed no difficulties. Criticisms were mainly toward the seats’ comfort, an unintuitive user interface relieved somewhat by the inclusion of Apple CarPlay, and a gear selector that seemed more whimsical than practical.
“This week’s wheels” section is where you get to hear about the various transport solutions we’re evaluating, whether they’re electric or hybrid vehicles, e-bikes, or a ride in an autonomous vehicle. Stay tuned for future reviews including e-bikes and the GMC Sierra EV alongside the Chevrolet Equinox EV.
Compiled by Techarena.au.
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