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Robotic Automations

Hyundai antes up $1B for AV startup Motional and Elon unplugs the Tesla Supercharger team | TechCrunch


Welcome back tTechCrunch Mobility — your central hub for news and insights on the future of transportation.

Before I jump into the all the news — and boy there was a lot! — I have an important update for all of you lovely readers. TechCrunch Mobility is moving to Thursdays! It will be the same newsletter filled with news and insights on the sector, but just landing in your inboxes Thursday morning. Sign up here for free — just click TechCrunch Mobility!

EV startup Fisker laid off more employees to “preserve cash” as bankruptcy inches ever closer; ride-hailing company Ola cut about 180 jobs and ousted its chief executive, Hemant Bakshi, merely four months after appointing him to the post; and lidar company Luminar slashed its 700-person workforce by 20% as part of a restructuring to adopt an “asset light” business model.

Oh, and then there was Tesla CEO Elon Musk, who axed the automaker’s global Supercharger network team. That perplexing decision comes just as non-Tesla EV drivers gain access to the network.

That’s not to say the entire transportation sector was surrounded by economic storm clouds. There were brighter moments as well. Let’s go check it out!

A little bird

In the fallout from Tesla’s great Supercharger culling, we’ve spoken to several little birds, including those who were laid off and folks working at other automakers. As I mentioned above, Elon Musk gutted Tesla’s global Supercharger organization of about 500 people. Insiders at several different automakers — all of which are adopting Tesla’s charging tech — said they did not see this coming. “Shocked” and “stunned” were the most common phrases I heard.

On the employee front, there was a lack of communication from human resources in the hours directly following the mass layoff. Some told me they and their fellow former co-workers had not received information about severance and that communication had stopped altogether. A few of those folks had received severance emails by Friday. All of the people I communicated with were still struggling to understand why Musk would cut the Supercharger team — an organization that is fundamental to Tesla and its EV sales. Others surmised only Elon and maybe the former head of the Supercharger team, Rebecca Tinucci, would ever know the answer.

Got a tip for us? Email Kirsten Korosec at [email protected], Sean O’Kane at [email protected] or Rebecca Bellan at [email protected]. If you prefer to remain anonymousclick here to contact us, which includes SecureDrop (instructions here) and various encrypted messaging apps.

Deals!

It’s been a minute since we heard of an autonomous vehicle startup raising a substantial amount of money — or heck any money at all. That all changed this week when Motional scored an essential multi-million-dollar win, courtesy of Hyundai.

Hyundai’s total commitment is $1 billion, but there are important details. Here’s how it breaks down. Hyundai invested $475 million directly into Motional as part of a broader deal that includes buying out joint venture partner Aptiv. Hyundai is spending another $448 million to buy 11% of Aptiv’s common equity interest in Motional.

The quick backstory: Motional was formed in 2019 as a $4 billion joint venture between Hyundai and Aptiv. Motional has spent the past several years plugging away at its autonomous vehicle tech, working toward a goal of launching a robotaxi service using driverless Hyundai Ioniq 5 vehicles in 2024. As Motional and Hyundai got closer — the companies announced plans in November to co-develop production-ready versions of the all-electric Ioniq 5 robotaxi — it seems Aptiv began to understand its own financial limitations. By January, Aptiv chairman and CEO Kevin Clark flagged that the company would reduce its ownership interest in Motional and stop allocating capital to the venture due to the high cost of commercializing a robotaxi business and the long road ahead to profits.

The decision, while not particularly surprising to the industry insiders I spoke to, still put Motional and Hyundai in a sticky spot. Would Hyundai step up? Would outside investors step in? Hyundai answered the call.

My question is will Motional, with the blessing of Hyundai, seek out other investors? That will all come down to how much capital Motional is burning through and whether it continues to chase the same robotaxi goals. If so, it seems the company will eventually need more capital.

Other deals that got my attention …

LiNova Energy, a California-based startup developing polymer cathode batteries, raised $15.8 million in a Series A funding round led by Catalus Capital, which was joined by Saft, a subsidiary of TotalEnergies, Chevron Technology Ventures and a syndicate of investors.

Rivian was awarded an eye-popping $827 million incentives package from the state of Illinois, funds that will be used to build out production lines for its next-generation EV, the R2.

Viking Holdings, the luxury cruise operator backed by private equity firm TPG and the Canada Pension Plan Investment Board, raised $1.54 billion in its IPO.

X Shore, a Swedish electric boat maker founded in 2016, raised €8.5 million in new funding from several unnamed existing backers, including founder Konrad Bergström.

Notable reads and other tidbits

ADAS

The National Highway Traffic Safety Administration opened an investigation into Ford’s hands-free driver-assistance system, BlueCruise, after it was found to be active during two recent crashes that killed multiple people.

The NHTSA made another big move in the sector and finalized a new Federal Motor Vehicle Safety Standard that will make automatic emergency braking, including the ability to detect and automatically brake for pedestrians, standard on all passenger cars and light trucks by September 2029. The agency said the safety standard is expected to significantly reduce rear-end and pedestrian crashes. Now, the NHTSA isn’t picking the technology automakers have to use. A number of computer vision and lidar companies have reached out to me to note how it could be beneficial to their business models.

Autonomous vehicles

TC contributor Tim Stevens takes us behind the scenes of the first Autonomous Racing League event in Abu Dhabi that pitted a self-driving car against a Formula 1 driver. His take? Yes, there were struggles; he also saw a lot of progress.

Electric vehicles, charging & batteries

Remember last year when Henrik Fisker proudly debuted two prototypes designed to catapult his eponymous EV startup into the mainstream? TC reporter Sean O’Kane learned the engineering firm that helped develop those vehicles is suing Fisker for $13 million in damages. Read more to learn about this lawsuit, plus several others.

This week’s wheels

Image Credits: Emme Hall

I turned the wheel over to TC contributor Emme Hall this week for a test drive of the new all-electric Acura ZDX Type S. You can read the entire review here, plus I suggest you watch her video of the hands-free advanced driver-assistance system in the vehicle. For those who want a sneak peek before committing to the longer read, here’s the gist.

Hall expected joy and delight. Instead, it was more meh. Here’s one of the whys. The Type S weighs over 6,000 pounds. Even if the weight is evenly distributed front to rear, that’s a lot of heft to get around a turn. She liked the hefty steering, but there wasn’t much feedback happening.

“The torque is always there on corner exit and body roll is kept in check, yet I’m not feeling the delight,” she wrote, adding that the 275/40 Continental Premium Contact 6 summer tires on the Type S offered up plenty of grip, but the low-profile sidewall combined with the harder run-flat rubber compound meant that the ride was just a touch harsh.

Hall’s pursuit of an all-electric SUV that’s fun through the twisties continues.


Software Development in Sri Lanka

Robotic Automations

Madica, a program by Flourish Ventures, steps up pre-seed investing in Africa | TechCrunch


Madica, an investment program launched by US-based investor Flourish Ventures to back pre-seed startups in Africa, plans to invest in up to 10 ventures by the end of the year, ramping up its funding efforts after closing three initial three deals.

Madica disclosed the plans to TechCrunch indicating accelerated investing in the coming year as it eyes up to 30 startups by the end of its three-year program, which started mid last year, after launch late 2022.

Announced today, the program’s initial investees include Kola Market, a B2B platform founded by Marie-Reine Seshie to help SMEs grow their sales and simplify their business operations. Others are GoBEBA, a Kenyan on-demand retailer of household goods founded by Lesley Mbogo and Peter Ndiang’ui, and Newform Foods (formerly Mzansi Meat) a South African cultivated meat startup founded by Brett Thompson and Tasneem Karodia.

More are set to join the program, as Madica explores potential deals in budding markets such as Tunisia, Morocco, Uganda, DRC, Rwanda and Ethiopia. This is in line with its plan to reach startups in diverse sectors and markets, as well as those run by underrepresented and underfunded founders. Madica is further looking beyond fintechs, the most-funded sector in Africa, and is also keen on backing startups by women founders (or where at least one founder is a woman), a demographic that continues to receive measly VC funding.

“I believe that with the number of challenges that exist across the continent, it’s the entrepreneurs who are in those markets that understand the context and have lived experiences around those issues that are best positioned to solve those challenges. The point of the Madica program is to actually prove and show that it’s possible to find founders that are building good businesses but don’t fit the usual homogeneous group,” said Emmanuel Adegboye, Head of Madica.

Madica invests upfront, to a tune of $200,000, once a venture is accepted into the program, which runs for up to 18 months, and also involves tailored hands-on support and mentorship. It has set aside $6 million to invest in scalable tech-enabled business and an equal amount to run the first phase of the program, which has rolling admission. The program does not have standard terms for investment making each deal unique.

“Our programming is both very personalized, but also structured in some ways because founders come into the program at different points. The personalized part of the program is super critical because we want to understand what they need and how we can best support them,” said Adegboye.

“But we also recognize that at every point in time, we’re going to have at least a few companies we’re working with within the program so we have a few parts of the program that are very structured and that cuts across every company within the portfolio,” he said.

Adegboye hopes that as the program catalyzes investments in the pre-seed stage across different ecosystems in Africa, Madica can attract more capital into the continent and eventually serve as a reference for global VCs intending to scale operations in the market.

“Depending on how the program goes, there is a possibility that we will double down on it or open it up to other partners to join us and accelerate this mission.”


Software Development in Sri Lanka

Robotic Automations

The all-electric Mercedes G-Class ratchets up the tech and off-road capability | TechCrunch


The Mercedes-Benz G-Class — the rugged off-road powerhouse that launched in 1979 and has since become a brutalist status symbol — has gone electric. This is, in many ways, Mercedes’ most prestigious car, a model more prized for its presence and exclusivity than its power and capability. Going electric, then, is more than an historic moment for the iconic Gelandewagen; it is the biggest test yet for the company’s recently scaled back electrification plans.

Mercedes’ approach to electrifying the prestigious SUV suggests the German automaker understands the stakes. The first electric version of the G-Class not only meets but beats its internally combusted counterparts in terms of power and off-road capability. What is surprising is the name.

Meet the Mercedes-Benz G 580 with EQ Technology. That’s right, not the EQG, breaking the pattern set out by all-electric predecessors like the EQS, EQE and EQB. Starting with the G-Class, all new battery electric Mercedes models will fit into the company’s traditional alphabetic taxonomy.

That’s a significant change from a branding standpoint, but it makes sense when you look at the thing. The electric G shares a substantial amount with its internally combusted predecessors. If Mercedes wanted to break that trend and integrate the EVs into the traditional model nomenclature, this is the place.

Nuts and bolts

Image Credits: Mercedes

Like the other Gs, the G 580 is still built on a traditional ladder frame, a common layout in trucks and purpose-built off-roaders. Likewise, it still uses a solid axle out back, again preferred by serious denizens of the trails. The electric G does make a concession to modernity with an independent front suspension setup, but that’s also just like the other current G-Class flavors.

Perhaps more importantly, it looks almost indistinguishable from the upcoming 2025 refresh of the G-Class. Mercedes made a few subtle tweaks to the styling, most notable being a black grille plus some distinctive, EQ-exclusive lighting. There are other changes such as slightly rounded corners and the like to let this SUV’s abrupt shape cut through the wind more cleanly, but they’re near-impossible to spot.

Take one look, though, and it’s easy to see that aerodynamics is not the priority here. Off-road performance is, and Mercedes has gone all-out, creating a bespoke drivetrain for the G-Class.

A bet on off roading

Mercedes-Benz G580 with EQ Technology in desert sand non-metallic paint. Image credits: Mercedes

This is where things get radically different from the various gasoline-powered G-Class models.

Like the higher-spec models of Rivian’s R1T and R1S, the G-Class is driven by four electric motors — one for each wheel — mounted inboard on the SUV’s chassis. Each of these motors even has its own two-speed transmission, a selectable reduction gearset that allows the EQ flavor of the G-Class to have a low-range mode, giving it extra torque and control in low-grip scenarios.

A four-motor setup gives precise control over individual wheel speed, enabling better grip management than a traditional locking differential setup could manage. It creates the opportunity for some fun tricks, too.

The hallmark is what Mercedes calls the G-Turn. Tap a few buttons on the center console, hold either the left or right paddle on the steering wheel, and then step on the accelerator, and the G-Class spins about on its axis.

It’ll do up to two complete rotations like this, just enough for a bit of showboating, but Mercedes says it’s actually for making a quick exit from unexpectedly terminated trails, something again seen earlier from Rivian.

Another, more practical feature is called G-Cornering, where the G-Class can reduce the speed of the inside rear wheels when turning. This will help the G-Class navigate tight, twisty trails far more efficiently than a typical off-roader with locking differentials.

Crucially, neither of these features is available on the G-Class models with internal combustion engines. If you want them, you’ll have to go electric; and the extra capabilities don’t end there.

The EQ G-Class can wade through water 33.5 inches deep, about six full inches deeper than the other Gs. It also offers an extra 0.3 inches of ground clearance and an additional degree of approach angle.

A hot EV in a tepid-demand world

Image Credits: Mercedes

If you’re worried about ruggedness, Mercedes-Benz says you shouldn’t be. The G 580 with EQ Technology has metal and carbon fiber protection around the 116-kilowatt-hour battery pack. It’s also fully isolated from water, dirt and whatever other muck you run it through. It’s not, however, made using the silicon-anode technology from Mercedes’ partnership with Sila. Those are due to arrive in a “range-extended” version of the electric G within the next few years, according to a Mercedes-Benz spokesperson.

It may prove to be a desirable option. Despite offering 16 kWh greater capacity than a Model X, for example, the electric G won’t go nearly as far on a charge as the Tesla. Mercedes says it’ll do 473 kilometers on the European WLTP cycle, which should equate to roughly 250 miles on the American EPA test, far short of the Model X’s 335-mile EPA rating.

Despite the range, the electric G-Class sounds like an impressive package, enough to woo any true fan of performance away from the models with internal combustion. Tragically, it launches at a time of cooling interest for EVs in general.

Mercedes-Benz recently walked back its 2030 goal of being an EV-only manufacturer, blaming difficult market conditions.

Ahead of the G 580’s unveiling, Britta Seeger, Member of the Board of Management of Mercedes-Benz Group AG, said that interest in EVs is heavily variable based on region In Europe. Adoption has recently taken a huge hit thanks to the sudden removal of EV-related incentives, she added.

This has caused “a little bit of uncertainty” among the brand’s customers. “And obviously, if you turn off incentives, it has an immediate impact,” Seeger continued.

In Europe, Mercedes has covered this by applying its own incentives, with “promising” results, according to Seeger. In the U.S. the “lease loophole” means many of the brand’s EVs still receive the $7,500 federal incentive so long as they are leased, while dealers here are often piling on steep discounts of their own.

“For the U.S., we do see people who are very much interested, but I would say the majority are more hesitant.”

She says the company is sticking to its electrification plans but declined to set any specific sales targets for the G 580 with EQ Technology versus the other G-Class trims with internal combustion. “We are prepared for everything… We have complete flexibility in responding to customer needs,” she said.

In other words, we’ll have to wait and see how much of a factor the G 580 with EQ Technology is in the overall spread of G-Class sales. Unless it’s a total flop, though, it’s reasonable to expect more.

Mercedes has thus far made higher-horsepower, higher-price AMG-branded versions of its electric EQE and EQS models. In the U.S., the AMG version of the traditional G-Class outsells its lower-cost versions, despite carrying a nearly $200,000 starting price — plus whatever exorbitant adjustment your local dealer wants to apply.

That is why Mercedes-Benz CEO Ola Källenius calls the G-Class “the Birkin bag of our product portfolio.” Will the new EQ flavor maintain its cachet? It certainly looks ready to drive circles around its predecessors off-road, but whether that’s enough to woo the fickle G crowd remains to be seen.


Software Development in Sri Lanka

Robotic Automations

Tesla's new growth plan is centered around mysterious cheaper models | TechCrunch


Tesla’s been undergoing some major changes, and now we have a sense of why: the company says it is upending its product roadmap because of “pressure” on EV sales.

The new and accelerated plan now includes “more affordable models” that the company claims will be launched next year. Or if Tesla CEO Elon Musk is to be believed — and that’s a big bet considering his track record with timelines — possibly as early as the end of 2024.

The shock announcement sent the company’s stock soaring more than 11% in after-hours trading Tuesday. And the price didn’t fall even as Musk and other Tesla executives refused to share further details on a call with investors.

This all comes following a bombshell report in early April from Reuters that claimed Tesla had abandoned its work on a low-cost, next-generation car. That next-gen car was meant to be built on the same EV platform Tesla is developing for its supposed robotaxi vehicle. Tesla had said this next-gen car could come as early as late 2025.

While Musk flimsily claimed Reuters was “lying,” both Electrek and Bloomberg News have since reported that the development of that particular EV has been delayed or deemphasized inside the company. Musk has since posted on social media site X that Tesla will reveal the robotaxi August 8.

Tesla provided the update in its less-than-stellar first-quarter earnings report, which showed profits falling 55% year-over-year. The company said in the report it had “updated [its] future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025.” The slate of new vehicles includes “more affordable models,” the company said.

These new offerings are not being spun out of whole cloth, though. Tesla says it will build these vehicles on existing production lines and that they will “utilize aspects of” the next-generation platform it has been developing, “as well as aspects of our current platforms.”

Bloomberg News reported earlier this week Tesla was working on new versions of the Model Y and Model 3 that borrowed technology and processes from the next-gen EV, with an emphasis on the Model Y.

Tesla investors will have to wait to learn any more.

On a call with investors, Musk punted on the question of what Tesla’s new product roadmap actually involves.  “We’ll talk about this on August 8th,” he said, referring to the event Tesla has planned to reveal its robotaxi, which he called “Cybercab.”

When asked a similar question later in the call, Musk said “I think we’ve said all we will on that front.”

Tesla VP Lars Moravy said there was “some risk” associated with the new platform, and that Tesla could leverage “all the subsystems” being developed for it, like powertrains, drive units, as well as improvements in manufacturing and automation, thermal systems, seating,” and more. “All that’s transferrable, and that’s what we’re doing — trying to get it in new products as fast as possible,” he said. “That engineering work — we’re not trying to just throw it away and put it in a coffin.”

Cost versus growth

Tesla has worked to reduce the cost of manufacturing the next-gen EV by 50% compared to the platform that underpins the Model 3 and Model Y.

The company admitted Tuesday that by shifting to a strategy of mixing the next-gen technology and processes with existing platforms and manufacturing lines, it will lose some of that cost savings.

The upside, according to Tesla, is growth. The company claims it can double 2023’s production (which was around 1.8 million vehicles) by 2025. And while it won’t save as much on the cost of the cars, it also won’t have to build new production lines to make these mysterious new vehicles. The company has already slowed work on a new factory in Mexico, where it originally planned to start building the next-generation EV and robotaxi.

Of course, Tesla had said for years that it expected to reach 50% annual growth, averaged over a few years, and has consistently missed that target. As the company warned, it will grow at a “notably lower” rate this year.

There are other challenges as well. Tesla is claiming it can launch this new product lineup after axing a huge number of employees from its global workforce — though Musk said Tuesday the company is “not giving up anything significant that I’m aware of.”

“We’ve just had a long period of prosperity from 2019 to now,” Musk said on the call. “We’ve made some corrections along the way, but it is time to reorganize the company for the next phase of growth.”


Software Development in Sri Lanka

Robotic Automations

Tesla profits drop 55%, company says EV sales 'under pressure' from hybrids | TechCrunch


Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy continued to cut into the automaker’s bottom line.

The results, posted after markets closed Tuesday, sent shares up 7% immediately following the release. Tesla reported revenue of $21.3 billion in the first quarter, an 9% drop from the first quarter of 2023.

Analysts polled by Yahoo Finance expected earnings of $0.51 per share on $22.15 billion in revenue.

The company said in its Q1 earnings report that it experienced “numerous challenges in the first quarter, including from the Red Sea conflict and the arson attack at Gigafactory Berlin, to the gradual ramp of the updated Model 3 at its factory in Fremont, California. Tesla also noted that global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs.

Tesla has seen EV sales grow over the past several years, topping out to a new record of 1.8 million vehicles in 2023. But the company’s profits have suffered thanks to repeated price cuts that started in late 2022.

While those price cuts did provide a temporary bump in sales, it hasn’t had a lasting effect. Tesla delivered 386,810 vehicles in the first quarter of 2024, down 20% from the 484,507 it delivered in the final quarter of 2023. This wasn’t just a quarter-over-quarter blip either; Tesla delivered 8.5% fewer cars than the first quarter of 2023.

Tesla warned in January that growth of its vehicle sales “may be notably lower” in 2024, noting at that time it was between “two major growth waves” and prepping for the launch of a new vehicle platform to build a smaller EV that costs around $25,000. The company has also been prepping a “robotaxi” built on the same platform. In the meantime, Tesla’s only new model is the expensive (and fussy) Cybertruck.

Tesla CEO Elon Musk said during the company’s earnings call in January the smaller and cheaper EV would go into production in late 2025 at the company’s factory in Texas and eventually expand to a yet-to-be-built factory in Mexico.

Three months later, Musk appears to have scrapped the company’s low-cost EV playbook. Musk paused those low-cost EV plans, opting instead to plow headlong into launching the robotaxi, which will be revealed in some capacity in August. Less than two weeks after announcing the robotaxi launch date, Musk oversaw a 10% reduction in headcount and a restructuring that puts autonomy in sharp focus.

Two high-profile executives — Drew Baglino, Tesla’s SVP of Powertrain and Energy, and Rohan Patel, VP of Public Policy and Business Development — also left the company.

This story is developing …


Software Development in Sri Lanka

Robotic Automations

Tesla launches new Model 3 Performance variant to rev up demand | TechCrunch


Tesla has officially revealed a new Performance variant of the recently-refreshed Model 3 sedan as the company looks to fight off receding demand.

The new version of the Model 3, which starts at $52,990, has a new active damping system and adaptive suspension for better handling and comfort, 296 miles of battery range and can travel from 0 to 60 miles per hour in 2.9 seconds with 510 horsepower on offer.

Compared to the previous Model 3 Performance, the new version has 32% more peak power and 16% more peak torque, and 5% less drag. It does all this while consuming less energy than its predecessor, according to Tesla. That’s thanks in part to a new-generation drive unit, and also a rear diffuser and spoiler. The front and rear ends of the car have also benefited from a slight facelift, separating it from the other versions of the newly-tweaked Model 3 revealed last year.

The Model 3 Performance still carries with it the wholesale changes made with that recent refresh. That means there’s an ambient light bar wrapping around the cabin interior, better sound dampening and upgraded materials throughout, a stalk-less steering wheel and a new touchscreen display.

Tesla is launching the new Model 3 Performance at a time when the company is coming off one of its worst quarters for deliveries in recent memory, having dropped 20% compared to the fourth quarter of 2023. The impact of that disappointing first quarter is set to be revealed Tuesday when the company publishes its financial results after the market closes.

Tesla is also just one week removed from announcing sweeping layoffs of more than 10% to its global workforce, with the cuts affecting seemingly all corners of the company.

Orders placed Tuesday, at least at the time of publication, show an estimated delivery window of May/June 2024 in North America.


Software Development in Sri Lanka

Robotic Automations

Fisker plans more layoffs as cash dwindles and bankruptcy looms | TechCrunch


Fisker says it’s planning more layoffs less than two months after cutting 15% of its workforce, as the EV startup scrambles to raise cash to stay alive. Fisker expects to seek bankruptcy protection within the next 30 days if it can’t come up with that money, according to a U.S. Securities and Exchange Commission regulatory filing.

The imperiled company said in the regulatory filing Tuesday it had just $54 million in cash and equivalents as of April 16, and another $11.2 million that can’t be immediately accessed. Fisker said in the filing that it’s currently trying to raise money to pay off a loan that it defaulted on in order to avoid bankruptcy. The outstanding balance as of mid-January was north of $300 million.

Fisker still employed 1,135 people globally as of April 19, according to the filing. That’s down from 1,560 at the end of 2022, and around 1,300 at the end of of September 2023. The company also said Tuesday that it will be “reducing its physical footprint.”

This follows Fisker’s announcement Monday evening that a second member of its board of directors has left the company, with the first coming at the end of March. The company has also hired a Chief Restructuring Officer who is now solely in charge of approving Fisker’s budget, as well as the decision-making process for any sale of Fisker’s business.

Fisker finds itself on the brink of bankruptcy following a troubled launch of its first electric vehicle, the Fisker Ocean SUV, that kicked off in June 2023.

The Ocean has been hampered by numerous problems, including buggy software, reports of sudden power loss and brake failure, and insufficient customer service, as TechCrunch reported in February. Fisker struggled to meet internal sales goals and lost track of millions of dollars of customer payments for some of the vehicles it did sell, triggering an internal audit that helped recover a majority of that money. It has spent the last few months attempting to pivot to a dealership model.

The Ocean is now subject to three separate federal investigations from the National Highway Traffic Safety Administration. The company has not issued any recalls, but has paused production of the SUV. In the meantime, it slashed prices on its existing inventory by as much as 39% in an attempt to generate short-term cash. The company has also been delisted from the New York Stock Exchange.

If Fisker ultimately seeks bankruptcy protection, it would be founder Henrik Fisker’s second automotive startup to do so. His previous effort, Fisker Automotive, filed for Chapter 11 bankruptcy protection in 2013.


Software Development in Sri Lanka

Robotic Automations

Rivian targets gas-powered Ford and Toyota trucks and SUVs with $5,000 'electric upgrade' discount | TechCrunch


Rivian is offering discounts up to $5,000 on its EVs — and a year of free charging — to customers willing to trade in their gas-powered trucks and SUVs.

The deal, which kicked off April 22, is aimed directly at some of the best-selling and most ubiquitous gas-powered trucks and SUVs on the market today, including the Ford F-150, Toyota Tacoma and Jeep Wrangler. Rivian is even going after German automakers Audi and BMW. The price cut varies between $1,000 and $5,000 depending on the model. Rivian is offering discounts on three R1T pickup truck trims and one R1S SUV model.

The company promoted Monday the “electric upgrade offer” in an email to prospective customers as well as posts on social media. The discounts come as demand for premium and luxury EVs has softened across the industry, prompting automakers such as Ford, Lucid and Tesla to reduce prices. Faced with uncertain demand, many legacy automakers have also pared down plans to shift their portfolios to only battery-electric vehicles. Gas-powered vehicles and hybrids are back en vogue, thanks to the steady sales and profit margins they provide.

Rivian, which is only expected to produce about 57,000 EVs in 2024, won’t unseat the best-selling trucks on the market. But the approach could help it win over a new batch of customers.

Only owners of specific gas-powered vehicles will be eligible for the trade in. Those include 2018 or newer Ford F-150 trucks, Ford Explorer, Ford Expedition and Bronco, with the exception of the Bronco Sport. Other eligible trade-ins are 2018 or newer Toyota Tacoma, Toyota Tundra, Toyota Highlander, Toyota 4Runner Jeep Grand Cherokee, Jeep Wrangler and Jeep Gladiator. The Audi Q5, Q7 and Q8 as well as the BMW X3, X5 and X7 also qualify.

The deals applies to customers who want to lease or buy a vehicle, although they must take delivery by June 30. Rivian is also throwing in a year of free charging at any Rivian-owned charger in the United States as an added sweetener. Rivian fast-chargers, which are branded the Rivian Adventure Network, are not nearly as plentiful as the Tesla Supercharging network. The company has installed 433 fast-chargers at 71 stations, including in Arizona, California, Oregon, Washington, Colorado and along the East Coast. Rivian has also installed 482 Level 2 chargers (called Waypoints) at 180 lives sites throughout the United States.


Software Development in Sri Lanka

Robotic Automations

TechCrunch Mobility: Cruise robotaxis return and Ford's BlueCruise comes under scrutiny | TechCrunch


Welcome back tTechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here — just click TechCrunch Mobility — to receive the newsletter every weekend in your inbox. Subscribe for free.

It was another wild week in the world of transportation, particularly in the EV startup and automated driving industries. Sure, Cruise got our attention by announcing a return of sorts. But there’s a lot more to read about, including Indian ride-hailing giant Ola exiting the U.K., Australia and New Zealand; a feature on a New York–based startup that wants to bring curbside EV charging to lamppostsUber Eats launching a TikTok-like video feature; and contract manufacturer Magna piloting humanoid robots developed by Sanctuary AI.

Oh, one more thing — reporter Rebecca Bellan is back! I know readers missed her, so show her a bit of love by sending her some tips at [email protected].

Let’s go! 

A little bird

Founders, investors, engineers, policy wonks and others tell us things. And we’re here to pass along the verifiable information that those little birds have shared with us.

Got a tip for us? Email Kirsten Korosec at [email protected], Sean O’Kane at [email protected] or Rebecca Bellan at [email protected]. If you prefer to remain anonymousclick here to contact us, which includes SecureDrop (instructions here) and various encrypted messaging apps.

Deal of the week

Just a bunch of deals this week!

Basemark, a Finnish company that developed AR and computer vision software used by automakers, raised €22 million ($23.6 million) in a Series B round led by ETF Partners. Other backers include Finnish Industry Investment, Constructor Capital, Business Finland, the European Innovation Council and private investors.

Bumper, an automotive fintech startup sector, raised £2 million in a Series B extension round that included backing from Suzuki Global Ventures and Marubeni Ventures.

Carrar, an Israeli startup that provides battery modules and thermal management systems for EVs, raised $5.3 million in a Series A round that included new investors Salida B.V., OurCrowd, and NextGear, as well as current backers Gentherm, NextLeap Ventures, Dive Digital and others.

Exoes, a French-based startup that developed battery cooling technology for EVs, raised €35 million ($37.5 million) from BpiFrance and Meridiam Green Impact Growth Fund.

HysetCo SAS, a startup that rents hydrogen-powered EVs to taxi drivers in Paris, raised nearly €200 million ($218 million) in a round led by Hy24. Raise Impact and Eiffel Investment Group also participated.

Yoshi Mobility, a Nashville-based startup that developed an app to offer drivers preventative maintenance, virtual vehicle inspections and electric vehicle charging, raised $26 million in a Series C round led by General Motors Ventures. Bridgestone Americas, Universal Motors Agencies and Shikra Limited also participated.

Notable reads and other tidbits

ADAS

The National Transportation Safety Board (NTSB) said the driver of a Ford Mustang Mach-E who crashed into a stationary car in Texas in February was using the hands-free driver-assistance system known as BlueCruise. This is the first known fatality resulting from a crash involving the use of BlueCruise. The NTSB announcement came a day after the safety board announced it’s probing a second fatal crash near Philadelphia where Ford’s driver-assistance system may have been active.

Autonomous vehicles

GM’s self-driving car subsidiary Cruise is back. Sort of. The company is redeploying robotaxis, but not in its home city of San Francisco. Instead, Cruise is setting up shop in Phoenix and all of its autonomous vehicles will be driven manually by employees. Here’s the odd part: Cruise says it will be creating maps and gathering road information in Phoenix, a city where it has had a presence (and has driven autonomously) since at least 2020. That means it has mapped these roads before.

Going all the way back to mapping has me a bit confused. Is this theater or does Cruise see a need to restart its entire process due to concerns about the underlying technology?

Cruise has also petitioned California regulators to reinstate its permits to operate in San Francisco. Will we see the company mapping its hometown yet again, or will it jump back in with a robotaxi service?

Meanwhile, Waymo officially launched paid rides in Los Angeles this week. We previously reported on California regulators’ approval of the Alphabet-owned company to charge for its robotaxi service in the city. The service is starting out small and will build based on demand and performance metrics, a Waymo spokesperson told TechCrunch.

Electric vehicles, charging & batteries

Elon Musk’s decision to green-light a robotaxi over an affordable EV might cost the company its lead, TC reporter Tim De Chant writes.

Exponent Energy, the Indian battery-tech company that claims to have developed 15-minute charging technology, has partnered with auto manufacturer Omega Seiki Mobility to deliver a passenger three-wheel EV with those rapid-charging capabilities.

Faraday Future is now grappling with two internal whistleblowers. Both former employees have filed lawsuits claiming the troubled EV company has been lying about some of the few sales it has announced to date. They also claim founder Jia Yueting has “weaponized” the EV startup’s HR department to retaliate against anyone who speaks up about these alleged misrepresentations.

Lucid Motors delivered more EVs in the first quarter of 2024 than it has in any other quarter, though it set the record by a very slim margin.

Tesla dropped the monthly subscription price of its “Supervised FSD” (formerly known as “FSD Beta”) to $99, down from $199, in a bid to get more dollars and data from drivers.

Ride-hail

Lyft and Uber said they will pause on their planned exit from Minneapolis after city officials decided to delay the start of a driver pay raise by a couple of months.

Miscellaneous

Check out this deep dive into Neural Concept, a company that’s using AI to help engineers make more aerodynamic vehicles for racing, automotive and aerospace industries.

This week’s wheels

Image Credits: Kirsten Korosec

I’m back in a Mercedes EV, this time a 2024 Mercedes EQE 350 4MATIC. The model retails at $77,900, not including the destination fee. The version I drove came in at $97,615, due to all sorts of options, like a 10-degree rear axle steering system, head-up display, air suspension, AMG exterior and a $1,250 driver-assistance system.

There are a number of improvements from the previous model year, including a new braking system, a heat pump to help improve driving efficiency in winter conditions, a 20-mile improvement in battery range, 20-inch wheels, power opening port door for charging and a better user interface (in my opinion) on the central infotainment.

What I really wanted to try was the advanced driver-assistance system, and specifically the automatic lane change feature, which I had yet to test.

Within the infotainment center, the driver can choose either “manual” or “automatic” lane change options. When the automatic feature is selected and the ADAS is on, the vehicle will make automatic lane changes without driver input. Here’s how it works. I was driving in the right lane on the highway with ADAS engaged. As the car approached slower traffic, an arrow appeared on the instrument cluster (see photo), the system turned my indicator on and then made the lane change. This can be overridden by holding the steering wheel and keeping it in the lane.

My thoughts? The system worked seamlessly and I could see using it on occasion. The question is whether drivers want to cede that kind of control.


Software Development in Sri Lanka

Robotic Automations

Rivian started a tough year on a flat foot | TechCrunch


Rivian has a challenging year ahead — and the first quarter is off to a tepid start.

The EV startup announced Tuesday that it built 13,980 vehicles and delivered 13,588 of them in the first quarter of 2024. Both of those figures are down from the fourth quarter of 2023, where it built 17,541 and shipped 13,972.

Rivian did signal that it plans to make roughly the same number of EVs as it did in 2023. So, if the company can keep apace of 2023 numbers it should meet  targets. Things won’t get easier from here. Rivian plans to shut down its production lines for weeks in the second quarter so it can make upgrades that should help it lower the cost of building its EVs — another critical challenge it must overcome if it hopes to remain a relevant player and stay in the game long enough to bring its next-generation R2 EVs to market in 2026.

Producing and selling vehicles, which includes the R1S SUV, R1T pickup and two versions of a commercial electric van, has never been the company’s only challenge. Lowering the cost of building its EVs is essential to profitability. The company reported in February that it was losing around $43,000 on every vehicle sold in the final quarter of last year.

All this uncertainty is coming at a time when many companies are having trouble meeting the lofty expectations that were set by booming EV sales over the last two years.

Tesla reported its own very weak first quarter sales on Tuesday. Ford has scaled back its ambitions for its flagship EVs. In the startup world, Lucid Motors said in February that it only plans to build around 9,000 luxury sedans this year as it continues to try and establish a market. Fisker has fallen pretty much flat on its face, selling only half of the 10,000 electric SUVs its contract manufacturer made in 2023.


Software Development in Sri Lanka

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