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Hey-o! Howdy readers and welcome again to The Station, your weekly publication on all issues transportation. I hope you loved the New 12 months! I appreciated a little bit of relaxation and restoration, simply in time for CES 2024.
Yup, I’m in Las Vegas, but once more, for the annual tech commerce present. The Huge Three U.S. automakers (Ford, GM and Stellantis) gained’t have large splashy shows and bulletins as in previous years. Nevertheless, there can be loads of automotive, and extra broadly, transportation corporations and startups in attendance. I can be on the hunt all week for intriguing and modern tech. Want me luck. ;D
Honda, Kia and Vinfast are displaying off EVs, Hyundai’s Supernal will reveal an electrical vertical take off and touchdown automobile and Mercedes can be specializing in software program and the in-cabin expertise. AI is a theme that’s popping up in all places and maybe stunning to some, hydrogen gasoline will even have a presence.
Keep tuned for our protection this week.
Wish to attain out with a tip, remark or grievance? E mail Kirsten at [email protected]. Reminder that you may drop us a notice at [email protected]. When you favor to stay nameless, click here to contact us, which incorporates SecureDrop (instructions here) and varied encrypted messaging apps.
Deal of the week
It’s been a bit quiet the previous few weeks, however there have been a smattering of offers value sharing.
One in every of notice is Gbike, a Seoul-based shared e-scooters and e-bikes operator that’s gearing up to go public on the Korean inventory market and is reviewing acquisition targets. Founder and CEO Walter Yoon instructed TechCrunch that the corporate is in talks for acquisitions within the micromobility business to extend its market share earlier than its deliberate preliminary public providing, aiming for early 2025.
“Particulars haven’t been materialized but, however we’re at present taking a look at round three to 5 targets to amass,” Yoon stated, including that it has not determined what number of acquisitions it is going to full.
Different offers that received my consideration …
Bumper, an auto restore financing startup based mostly in London, raised $18 million in a spherical led by AutoTech Ventures. Shell Ventures, InMotion Ventures, Porsche Ventures, and Revo Capital additionally participated. Bumper additionally secured $30 million in debt.
Revfin, an Indian fintech startup that provides auto loans for electrical two-wheelers and three-wheelers raised $14 million in a Sequence B spherical led by Omidyar Community, the philanthropic funding agency from eBay founder Pierre Omidyar.
Salt Creek Capital acquired Vantage Car Worldwide, a California-based maker of low-speed utility automobiles.
Swap Vitality, an Indonesian EV battery startup, raised $22 million in a Sequence A spherical led by Qiming Enterprise Companions. GGV Capital and present investor Ondine Capital additionally participated.
Notable reads and different tidbits
ADAS
Contributor Tim Stevens examined the superior driver help techniques in Tesla, BMW, Ford, GM and Mercedes. Right here’s how they stacked up.
Autonomous automobiles
Aurora and Continental handed the primary main hurdle in a $300 million mission to provide 1000’s of autonomous hardware kits for self-driving vans.
China’s robotaxi business is going through new headwinds — and a little bit of wariness after watching the drama at Cruise unfold. TC reporter Rita Liao does a deep dive on how these startups are coping.
Nuro struck a take care of safety-focused software program firm Foretellix to assist with digital testing of its automated driving system, in a bid to chop R&D prices.
Electrical automobiles, charging & batteries
2024 can be an important yr for India, because the nation faces challenges to supply accessible development capital to late-stage startups whereas attempting to lure Tesla and different international EV producers to enter its home market. Right here’s how the nation will navigate EVs in 2024.
Fisker is struggling to satisfy inside gross sales objectives, documents show.
Rivian delivered 10% fewer EVs within the fourth quarter, in comparison with the third quarter, leaving traders anxious about softening demand. Rivian did exceed its manufacturing objectives for 2023, offering some constructive information for the EV maker.
Superpedestrian’s electrical scooters — greater than 20,000 of them — will be auctioned off later this month, together with different gear from the startup’s U.S. operations, after closing its doorways December 31. Additionally, don’t miss this text from TechCrunch about what Superpedestrian’s demise means for the e-scooter industry.
Tesla shipped a record number of electric vehicles in This autumn to assist it edge out its targets for the yr, thanks partly to the recognition of its most cost-effective automobile.
The U.S. authorities revealed the record of EVs that qualify for the complete federal tax credit score underneath the newer, extra stringent pointers. Right here’s the qualifying EVs list and extra particulars on what drove the change.
VinFast has earmarked an funding of as much as $2 billion to build a factory in India.
Cities
TC reporter Rebecca Bellan turned her consideration to the overlooked tech that saved cities shifting in 2023.
Uber has quietly been testing a flexible pricing service in additional than a dozen cities in India.
Trending Merchandise
