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Automakers have struggled with software development for years. But as all of these companies continue to tout the arrival of “software-defined” cars to compete with Tesla, the risks are higher than ever. It reminds me of the days when automakers (and others) called the cars of the future “iPhones on wheels.”
Making a statement about software is not the same as actually executing it. And automakers understand this.
Due to software issues, Executive refresh At the software division of the VW Group Cariadprompting Chinese regulators to recall 1.1 million Tesla vehicle and cause polar star and volvo cars This is to delay the production of each EV. Fisker reportedly suffered from Software integration issues Take the Ocean SUV. And that’s just for this week.
Instead of relying on suppliers, the software also allows automakers to bolster their in-house teams. general motorsfor example, hired an Apple executive Mike Abbott will become head of the software division.
Bottom line: Software-defined vehicles are still in development.
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France will spend 2 billion euros By 2027, we will contribute ($2.17 billion) to improve cycling infrastructure and help people buy e-bikes. Bienjue!
Grant Sinclair’s enclosed electric trike “It’s designed to be as safe as riding inside a big crash helmet.”
Indian hop electric made the first delivery over the air update For OXO electric bikes. The company used user-generated data to inform changes such as improved acceleration and range prediction.
lime has asked the California federal court not to drop the lawsuit accusing Hertz. use trade secrets A new version of the mobile app will be built in the coming weeks after one of Lime’s top engineers leaves the car rental company.
With the spread of electric bicycles, the amount of waste from electric bicycles that have reached the end of their lifespan is also increasing. bike for man and Call2Recycle I want to stop wasting batteries in advance.two of them “Battery hungry” An e-bike recycling campaign aimed at simplifying the recycling process for e-bike batteries.
Segway Ninebot the 2023 smart vehicle lineup, Ninebot KickScooter F2 series, Ninebot KickScooter Max G2, Segway eScooter E300SE, etc. Segway says the F2 and Max G2 are equipped with an auto-class traction control system to give riders maximum control in slippery conditions. Segway has also partnered with Apple to integrate Find My technology into his F2 and Max G to help users find their scooters if they are stolen.
swift released it 2023 electric bike lineuptwo mountain bikes, an all-terrain e-bike, and a BMW-style e-bike.
vanmoof Has been updated Entry level lineup Colorful new electric bikes. Launching this month, the X4 and S4 have the same frame and feel as VanMoof’s previous X3 and S3, but with less high-tech complexity.
Yamaha introduced booster electric bike Top speed is 15 mph, Booster Speed e-bike top speed is 45 mph.
— Rebecca Bellan
Sale of the week
As we mentioned last week, the Mobility SPAC is having a rough time rather than a fun party. EV SPACs such as Arrival, Canoe, Faraday Future, Rosetown, Lucid and Nikola have lost their value over the past year. Yet another company has voluntarily entered the SPAC race.
you may remember that Vinfasta Vietnamese EV maker and part of the conglomerate Vingroup, will open in December 2022. Initial public offering in the United States. The company is now taking another route to the public market. on friday, vinfast announced It will go public through a merger with SPAC (or blank check) company Black Spade Acquisition Co.
The deal will value VinFast’s shares at about $23 billion. His VF8 EV from VinFast widely criticized From the comfort of riding Literally failing to operate, this public market run may not be the best idea. I am sure you will understand!
Other deals that caught our attention this week…
cell linkis a California-based automotive wiring components start-up, $362 million loan Funded by the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Financing Program. The funds will be used to finance the construction of a factory in Texas.
faraday future plan to raise $100 million in debt, significant funding to enable the company to begin initial deliveries of its flagship vehicle, the FF 91 Futurist. And the struggling EV SPAC will need it. According to the company’s earnings report, $33 million Cash and restricted cash will be paid out at the end of the first quarter.
Moving plans to acquire assets in hiakeranother car-sharing market, $9.45 million.
prorhodium technologyA Mercedes-Benz-backed Taiwanese solid-state battery maker is considering new funding at a valuation of about $2 billion. reported by Bloombergsaid, citing an anonymous source.
Qualcomm intend to do something get autotalk, an Israeli fabless chip maker building semiconductor and system-on-chip technologies that support automotive safety. A source told TechCrunch that Qualcomm is paying $350 million to $400 million to the startup.
Ubi Eyean automated vehicle inspection technology startup based in New Jersey and Tel Aviv, raised $100 million In a Series D funding round led by Hanaco VC. Existing investors GM Ventures, CarMax, WR Berkley Corporation, FIT Ventures LP, and Israeli institutional investors also participated in the round, raising the valuation to around $800 million.
wing copterPicking up Germany-based delivery drone startups €40 million A loan from the European Investment Bank (nearly $44 million).
Notable reading and other tidbits
Porsche have partnered with Mobileye Bringing hands-free auto-assistance and navigation capabilities to the sports cars of the future.
Nuro teeth 30% headcount reductionWe have added approximately 340 employees across the company as part of a restructuring aimed at expanding our capital runway. The company also Pause the plan This year, it will ramp up commercial operations and delay mass production of its third-generation (R3) delivery robot, the Nurobot, designed to be the mainstay of its commercial strategy.
banishment named monopoly supplier of long distance riders Transferred to Motional for the Ioniq 5 robo-taxis until 2026.
Weft! We had a lot of earnings this week, but a lot of the results were on the dark side. We can’t cover everything, but here are some highlights.
bird Costs were reduced in the first quarter, but Remaining resultsincluding passenger numbers and income, weren’t all that hot.
Gogoro Reported first quarter earnings were $79.3 millionwas down 16% year-over-year, but the net loss widened to $40.6 million, up from a net loss of $21.7 million in the year-ago quarter. The company said revenue from battery replacement services increased year-on-year, but hardware sales and vehicle sales declined year-on-year.
Lucid’s First quarter results Losses and earnings escalate, showing companies failing to meet Wall Street expectations. Lucid’s first-quarter sales were $149.4 million, up from the same period last year, but below his $257.7 million reported in the fourth quarter of 2022. Importantly, the company said it plans to produce over 10,000 of his vehicles in 2023. The previous guidance is over.
Luminar Conquer Your Own Guidance The first quarter brought revenue of $14.5 million, up 112% year-over-year. The gain was larger than expected on top of a net loss of $146.8 million. Luminar still has approximately $90 million in cash and cash equivalents. The LiDAR company said it is on track to meet or exceed its goal of adding at least $1 billion to its future order backlog in 2023 and expects a 100% increase in revenue in 2023. rice field.
Rivian The company is still running out of cash, but it was one of the few bright spots.company Exceeding Wall Street Expectations First-quarter sales of $661 million were nearly seven times higher than the same period last year, which was plagued by production challenges caused by supply constraints and delivery restraints. The company also successfully narrowed its loss in the first quarter to $1.35 billion ($1.45 per share), moving from a loss of $1.59 billion ($1.77 per share) in the first quarter of 2022 to reduced. In cash.
TuSimple You didn’t submit the Q1 report, that’s the problem. The company has not filed an earnings report since the end of the third quarter of 2022.As a result, TuSimple is I received a delisting notice He was kicked out of the Nasdaq for failing to submit quarterly reports on time. TuSimple shares could stop trading as early as May 15th.
electric vehicle, charging, battery
Fisker lowered production targets Annual EV production reaches 32,000 units. EV companies also enough Brings the first Fisker Ocean SUV to market replaceable battery technology The two companies plan to split the revenue generated from the battery exchange system.
Subaru We are strengthening our EV plans.The company plans to Add 4 EVs We aim to produce 400,000 units by 2028.
Tesla officially started Texas Lithium Refinerybecame the only U.S. automaker to purify lithium in-house.
volvo Future plans will be small All-electric SUV EX30.
Google Announced many new functions related to automobiles – like YouTube and meeting Coming to the car — at the company’s 2023 Google I/O developer conference. Auto Event Facts: By the end of the year, 200 million vehicles will have Android Auto.
Tesla faces another lawsuit. This time, a group of Tesla Model S and Model X owners Proposed class action lawsuit It argued in federal district court in San Francisco that automatic software updates reduced range and caused battery failures.
hop skip drive brought new management Has a background in Walmart, The Honest Company and Bird.
vianova is working with the French public transport agency RATP to Analyze inhibitory activity Use of sidewalks to prevent bus lane congestion and change the use of curbs in Paris.
zip linedrone delivery startup Grow your US customer base Across the healthcare, restaurant and retail industries.
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