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Hey-o! Howdy readers and welcome again to The Station, your weekly e-newsletter 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 Massive Three U.S. automakers (Ford, GM and Stellantis) gained’t have huge splashy shows and bulletins as in previous years. Nevertheless, there will probably be loads of automotive, and extra broadly, transportation firms and startups in attendance. I will probably be on the hunt all week for intriguing and progressive 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 will probably be specializing in software program and the in-cabin expertise. AI is a theme that’s popping up all over the place and maybe stunning to some, hydrogen gas may also have a presence.
Keep tuned for our protection this week.
Need to attain out with a tip, remark or grievance? E mail Kirsten at [email protected]. Reminder that you may drop us a observe at [email protected]. For those who want to stay nameless, click here to contact us, which incorporates SecureDrop (instructions here) and numerous 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 price sharing.
One among observe 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 informed TechCrunch that the corporate is in talks for acquisitions within the micromobility trade to extend its market share earlier than its deliberate preliminary public providing, aiming for early 2025.
“Details have not been materialized yet, but we’re currently looking at around three to five targets to acquire,” Yoon mentioned, including that it has not determined what number of acquisitions it should full.
Different offers that acquired 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 Collection B spherical led by Omidyar Community, the philanthropic funding agency from eBay founder Pierre Omidyar.
Salt Creek Capital acquired Vantage Automobile Worldwide, a California-based maker of low-speed utility automobiles.
Swap Power, an Indonesian EV battery startup, raised $22 million in a Collection A spherical led by Qiming Enterprise Companions. GGV Capital and current 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 undertaking to supply 1000’s of autonomous hardware kits for self-driving vehicles.
China’s robotaxi trade is dealing with 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 will probably be a vital yr for India, because the nation faces challenges to supply accessible development capital to late-stage startups whereas making an attempt 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 fulfill inner gross sales objectives, documents show.
Rivian delivered 10% fewer EVs within the fourth quarter, in comparison with the third quarter, leaving buyers anxious about softening demand. Rivian did exceed its manufacturing objectives for 2023, offering some optimistic 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 fall to assist it edge out its targets for the yr, thanks partly to the recognition of its least expensive automobile.
The U.S. authorities revealed the checklist of EVs that qualify for the complete federal tax credit score below the newer, extra stringent tips. 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 transferring in 2023.
Uber has quietly been testing a flexible pricing service in additional than a dozen cities in India.
