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A little bird
Thelittle birdsin the autonomous vehicle industry were active this week . The biggie was a tip aboutMotional , the autonomous vehicle startup produce by a joint speculation between Hyundai and Aptiv . If you recall , Hyundairecently agreed to spend nearly$1 billion on Motional — $ 475 million as a lineal investment into the company and another $ 448 million to corrupt 11 % of Aptiv ’s common fairness interest in the venture .
This week , we take to the consequences part of that deal . Motional ispausing all commercial operationsand pushing program to set in motion a driverless taxi service to 2026 — two years later than planned . The intent is to make progress on the core technology while preserve Das Kapital .
That move number at a cost : abstruse cut across the organization . While the company has not publically share layoff number , we ’re get a line hundred have been laid off . If you were affected , reach out to us .
Got a pourboire for us ? Email Kirsten Korosec atkirsten.korosec@techcrunch.com , Sean O’Kane atsean.okane@techcrunch.comor Rebecca Bellan atrebecca.bellan@techcrunch.com .
Deals!
Wow , two huge autonomous vehicle investiture in the span of a few days . Pretty awesome , considering that AVs are long past the hypey , let’s - throw - money - at - this - tech era . Maybe Ab are getting sweep into the fury of AI investiture . Either way , deals are happening !
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One week after Hyundai ’s nearly $ 1 billion deal with Motional , a U.K. startup calledWayveraised $ 1.05 billionin a Series C funding stave led by SoftBank Group . ( Oh , SoftBank , another AV company ? ) Nvidia and existing investor Microsoft also participated . Wayve ’s early - level investors include Meta ’s psyche of AI , Yann LeCun .
Wayve , founded in 2017 , is taking a ego - learning coming ( aka , terminate - to - end cryptical encyclopaedism ) rather than a rules - based system for sovereign drive . It ’s also not bear up robotaxi fleet like Waymo , Cruise or Motional and rather plans to be a provider to OEMs . desire even more details on this startup?Check out this interviewwith Wayve co - founding father and CEOAlex Kendall .
Other deals that got my attention …
EnviroSpark , the EV burden fellowship , raised $ 50 millionfrom Basalt Infrastructure Partners .
Momenta , the Chinese independent vehicle tech inauguration that is back by GM , file confidentially for a U.S. initial public offering , Bloomberg reported . The IPO could get up $ 200 million to $ 300 million .
Zeekr Intelligent Technology Holding , the Taiwanese EV brand under China ’s Geely Holding , is prim out andready to go public . The caller congeal its IPO term : 17.5 million shares priced between $ 18 and $ 21 a share . The New York Stock Exchange okay itslisting . Stay tune !
Notable reads and other tidbits
ADAS
MobileyeCTOShai Shalev - Shwartzmade an interesting commentary on social media site X when asked if he thought lidar would be a necessary part of so - called L3 + systems to satisfy regulatory standards . He wrote : “ presently , camera are not sufficient for L3 , and it is very potential that regulation will require lidar . Sometime in the time to come , it is reasonable to take on that cameras and radar will be sufficient . ”
Electric vehicles, charging & batteries
TC reporterSean O’Kaneinterviewed the founders ofBloomabout their plan toreinvent how e - bikesare made in the United States . Readers : What do you cerebrate ?
Speaking of micromobility , Estonian companyBolt Technologiesis making moves to launchscooter operations in the U.S. market .
Earnings
There were a bunch of net income this calendar week . Here are a few highlighting :
Luminarshared in its Q1 earnings report thatTeslais now the lidar maker’stop customer . Tesla accounted for “ more than 10 % ” of Luminar ’s revenue in the first after part of 2024 , or a little more than $ 2 million .
Lucid Motorssaid in its Q1 story that senior frailty president of digitalMike Bell — a longtime Apple and Intel exec — hasresigned from his position . Bell will serve in an consultive use through mid - August to aid “ transition ” his duties at the company .
Rivianreported a $ 1.45 billion loss in the first one-quarter , showing that its recentcompany - wide cost - cutting measureshave a agency to go before it can come on profitability . beginner and CEO RJ Scaringe spent the bulk of the earnings call spill the beans about their progress .
UberCEODara Khosrowshahidisclosed during the company ’s Q1 earnings call that membership fees from itsUber One programare now “ in inordinateness of $ 1 billion ” trial pace . The company is now planning to redeem even more perk to member in its pastime of a “ sticky ” app .
This week’s wheels
What is “ This hebdomad ’s wheels ” ? It ’s a hazard to learn about the different DoT products we ’re testing , whether it ’s an galvanic or intercrossed railcar , an e - bike or even a ride in an autonomous vehicle . Keep an centre out to hear about my meter behind the bicycle of an dead monolithic all - electricMercedes - Benz eSprinterand the2024 Mitsubishi Outlander PHEV .
