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Shall we start now?
My top priority for this week is TeslaI know, it’s weird.
But really, it seems like the pressure is coming from all sides these days. The company’s decision to cut prices has angered recent buyers (just look to Twitter to see the anger) and shareholders are facing a lagging stock price (down more than 64% over the past year). More vocal about the rise. Regulatory pressure on Autopilot and its so-called FSD software beta product that promises full self-driving. To be clear, Tesla cars are not self-driving. This system is an advanced driver assistance product.
Either way, these problems pile up. How long can the company take?
In the past, Tesla and its CEO Elon Musk In many cases, it has wriggled free from stagnant criticism and concerns by showcasing potential future products or achieving ambitious production and delivery goals.
However, Tesla missed its own production and delivery guidance this year and Wall Street’s fourth-quarter expectations. And shareholders, consumers and regulators seem fed up with this cycle. To me, this is another sign that Tesla is starting to be seen (and treated) as a legacy automaker rather than an infallible wacky upstart.
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micro mobin
Rebecca Bellan has been out for the past week, but I’d like to share some interesting micromobine stories that you and Romain Dillet from France reported.
First in Romain’s article, Paris And the looming scooter decision that could upend the micromobility industry there. We recommend that you read the entire article. Here is a little taste.
On March 23rd, the fate of the 15,000 colorful electric scooters that now flood the streets of Paris will take a dramatic turn as the three scooter companies currently operating in Paris consider whether to renew their licenses. It may change.
Romain appreciates the meaning that stretches far beyond Paris.
And this doesn’t just affect Dott, Tier, and Uber-related Lime (three companies that have held those licenses since 2020). The decision will set a precedent for many cities around the world that have put scooters on the road. If things don’t go as planned, a negative decision in Paris could have a negative impact on micromobility startups around the world.
Image credit: Bugatti/Vitec
Next, we’re talking about a more luxurious, high-performance scooter.i am talking Bugattiyes Bugatti and its new electric scooter.
Bugatti will launch a $1,200 electric scooter in 2022 through a partnership with tech accessories company Bytech. The two companies have teamed up again for a second generation scooter that is sturdier, with new features and colors and with greater ‘self-healing’ capabilities. tire.
The 2023 scooter is 10% larger than its predecessor, with a 36-volt/15.6Ah battery and an electric motor with a maximum output of 1,000 watts.
The company says the battery-motor combination will allow the scooter to handle inclines of up to 18 degrees, a maximum speed of 22 miles per hour, and can travel 35 miles on a single charge. (This is from the previous model’s 22-mile range.)
Pricing for this larger second-generation model has yet to be announced. Perhaps this is one of those “if I have to ask” moments. ;D
See you next week!
Sale of the week
I have seen many SPACs in the last two years. But what about double SPACs? Yes it happened.
i am talking tomorrowa UK automotive data exchange platform to go public in November 2021 after a merger with a special purpose acquisition company Virtuoso Acquisition Corp. at an implied $800 million valuation.
But what is this? The company announced on January 10 that it has agreed to merge with his SPAC, a private he-equity firm. TKB Capital, in a deal that could raise $100 million. And that’s the money Wejo needs.
This latest SPAC looks like the buoy Wejo uses to stay afloat. Wejo’s stock didn’t just drop below $1. The company is also running out of cash.
Wejo warned in November that it had a cash balance of $15 million, which would allow it to sustain the company for a “very short term.”
Wejo is about two years away from generating life-sustaining revenue. To add a bit of financial drama to the scenario, Wejo also owes: Palantir Millions of dollars, according to Bloomberg’s op-ed by Chris Bryant.
This double SPAC is a strange one. I have a persistent feeling that some other failed SPACs will attempt this same tactic.
Other deals that caught my attention this week…
Apollo Future Mobility Group Agreed to acquire Chinese electric vehicle manufacturer WM Motor Holdings $2.02 billion. The acquisition is still subject to regulatory approvals.
high starNorway-based green hydrogen startup has raised $26 million in Series B funding jointly led by AP Ventures and Mitsubishi Corporation. Other investors include Nippon Steel Trading, Belgium-based investment firm Finindus, Hillhouse Investment, Trustbridge Partners, SINTEF Ventures and Firda. .
Ottopiais an Israeli teleoperations company focused on the agriculture, construction, last-mile delivery, logistics and mobility industries that has raised $14.5 million in Series A funding round to attract the public transportation giant. comfort del gro as an investor. Other participants include AI Alliance Fund, MizMaa Ventures, IN Venture and Next Gear Ventures. T.
OxboticaUK startup that develops software to power self-driving cars has raised $140 million in a Series C round. Existing investors BGF, safety equipment group Halma, hospitality and recreational investors Hostplus, Kiko Ventures, online shopping companies Ocado Group, Tencent, Venture Science and auto parts maker ZF also participated.
Tianqi Lithium Corp. has agreed to acquire Australian lithium exploration company Essential Metals Ltd in a A$136 million ($94 million) transaction estimated to provide sufficient supply for approximately 10 million electric vehicles. bottom.
Notable reading and other information
self-driving car
aurora Send progress reports to FreightWaves.
What’s next for Pittsburgh’s self-driving car scene?
ADAS
of National Highway Traffic Safety Bureau The Tesla Autopilot investigation, which began in August 2021, clearly appears to be “working very quickly.”Speaking of pressure on Tesla, there could be more pressure after that intercept A Tesla Model S has released a video and photos of eight cars stacked on the San Francisco Bay Bridge. The driver claimed that “fully automated driving” was in operation at the time of the crash.
electric vehicle, battery, charging
lucid group will produce 7,180 luxury Air sedans in 2022, exceeding its previously lowered guidance for this year. Lucid adjusted guidance last fall, saying that in 2022 he would produce 7,000 vehicles, up from 6,000.
Nicola has officially moved battery manufacturing from Cypress, California to its manufacturing facility in Coolidge, Arizona. The move is expected to be completed early in the third quarter. Manufacturing will continue at Cypress through the second quarter.
Protera produced its first commercial EV battery at its new plant in Greer, South Carolina.The company calls its factory ‘Powered 1’ and believes it It will be the largest U.S. battery manufacturing facility dedicated to electric commercial vehicles.
Tesla plans to invest approximately $770 million to expand its plant near Austin. The plant will include a die shop, a facility for battery cell testing, and another facility to manufacture cathodes and drive units. Tesla said it hopes to build the new facility this year.
Sieglipremium brands under the umbrella of Geely Holdingstarted serial production of its second model, an electric van called Zeekr 009.
people
caravanOnline used car dealer.
cruise have Nilka Thomas as the new Chief Human Resources Officer. Thomas, who most recently held a similar position at Lyft, will replace Arden Hoffman at Cruise. Thomas also spent 13 years at Google where he led initiatives focused on recruitment, D&I, employee engagement, HR governance and employee relations.
hyzon motorslarge fuel cell electric vehicle supplier, designation John Edgeley As President of International Operations.
AI scalehas laid off 20% of its workforce at a San Francisco-based company that uses software and personnel to label image, text, audio, and video data for companies building machine learning algorithms . The company has not disclosed how many employees are working at Scale AI. However, in February 2022, the company told TechCrunch that it employs about 450 people.
