“Welcome back to The Station, your central source for all transportation news. I’ll be your host, Rebecca Bellan, for the next two weeks while our regular host takes some time off to embark on exciting adventures involving planes, ferries, and bikes. Let’s dive into the latest updates.
Micromobbin’ India has been at the forefront of the electric two-wheeler movement. However, a recent reduction in government subsidies has caused a sharp decline in sales. The Indian government revised its incentive scheme in May, resulting in a halt in sales. In June, sales dropped by over 56%, marking the lowest sales month in a year. This decline not only impacts consumers but also raises concerns about industry consolidation and potential departures from the market. It serves as a reminder that government subsidies play a crucial role in promoting green alternatives and supporting emerging industries.
In other news, we’ve compiled a comprehensive list of the best e-bikes available, catering to different needs and preferences, whether you’re a commuter, delivery driver, parent, senior, bargain hunter, or mountain biker. The best part is, many of these companies are currently offering summer deals, so now is the perfect time to grab a great offer.
Moving on, New York City is offering delivery people the opportunity to participate in an electric bike trade-in program to remove bikes with potentially hazardous batteries from the streets. Upward has partnered with super73 to handle the resale of used electric bikes.
Unfortunately, UK EV maker Arrival has encountered setbacks with its second SPAC deal, causing it to fall through. This development is notable, considering the recent trend of companies utilizing SPAC mergers for capital infusion. The reasons behind the failure of the deal remain unclear.
Finnish, a German car underwriting company, has secured a €25 million asset-backed credit facility with Avellinia Capital. This financial arrangement will allow Finnish to focus on growth initiatives rather than fleet financing. African mobility fintech startup, Move On, raised $8 million from Absa Corporate and Investment Banking, bringing its total funding to $28 million.
NEU, a Singapore-based lithium-ion battery recycling startup, raised $3.7 million in a seed round led by SGInnovate. The round also saw participation from ComfortDelGro Ventures, Shift4Good, Paragon Ventures I, and other angel investors.
Nicholas faced another hurdle as it failed to gather enough shareholder votes for a proposal to issue more shares and raise additional capital. However, a new law might provide a solution by allowing the company to bypass the requirement of insuring more than 50% of outstanding shares. Nicholas also secured a $41.9 million grant from the California Transportation Commission for the construction of six heavy-duty hydrogen refueling stations in Southern California.
RapidFlight, a Virginia-based drone manufacturing company, acquired the intellectual property portfolio of defunct Local Engines. The financial details of the deal were not disclosed. Urban SDK, a company specializing in cloud-based traffic management systems, raised an undisclosed amount in a seed round led by GOVO Venture Partners. DeepWork Capital, Florida Opportunity Fund, Techstars, and venVelo also participated.
In the realm of autonomous vehicles, a group of safe streets activists in San Francisco has taken to disabling Cruise and Waymo robotaxis by placing traffic cones around them. This act of protest highlights concerns about malfunctioning vehicles disrupting traffic flow, emergency vehicles, and public transportation.
Volkswagen has launched an autonomous vehicle testing program in Austin using a fleet of 10 all-electric ID Buzz vehicles equipped with Mobileye technology.
Ride from China has obtained the UAE’s first country-wide autonomous driving license, allowing it to test and deploy robotaxis, delivery vans, and other autonomous vehicles on public roads.
Shifting our focus to electric vehicles, a report highlights the potential vulnerabilities of electric vehicle chargers to hacking, which poses a significant risk to drivers and the electrical network.
Fiat has introduced its adorable Topolino EV, complete with unique accessories such as a small shower designed for beach trips along the Italian coast.
Fisker fell short of its production expectations in the second quarter, producing 1,022 Ocean SUVs compared to the anticipated 1,400 to 1,700 due to component shortages.
Panasonic plans to build four additional battery factories to achieve its goal of reaching an annual electric vehicle capacity of 200 GWh by early 2031.
Polar Star is working on establishing an off-road electric vehicle charging infrastructure in Michigan.
Rivian has commenced the rollout of its electric delivery vans for Amazon in Europe, with the first 300 units hitting the streets of Germany. The company also reported a threefold increase in deliveries during the second quarter, reaching a total of 12,640 units. Rivian remains on track to meet its target of delivering 50,000 units this year.
CT+ reporter Tim De Chant explores the seven essential features that all fast-charging networks for electric vehicles should possess.
In the gig economy sector, Uber, DoorDash, Grubhub, and Relay are suing New York City to block minimum wage regulations for temporary workers. These companies argue that faulty data was used to calculate the new compensation rules. The new minimum wage of $18 for delivery drivers was recently implemented.
Calling an Uber in Saudi Arabia has become challenging due to state regulations surrounding ride-sharing app employment.
In miscellaneous news, Konux, a Munich-based AI extension focused on deep-tech, is developing a predictive maintenance SaaS business to enhance railway infrastructure and drive digitization in public transportation.
Tesla news roundup: Tesla has expanded its hiring for ADAS Test Operators outside of Europe, indicating its intentions to expand the beta FSD (Full Self-Driving) suite and Autopilot beyond North America. Tesla’s Cybertruck sightings have increased, fueling excitement among enthusiasts. The company delivered a record-breaking 466,140 units in the second quarter, a 10% year-on-year increase. Investors will be closely watching Tesla’s earnings day to assess the company’s margins, especially since many sales were driven by price cuts. Tesla has also reduced prices for Model 3 and Model Y vehicles in Japan, aiming to ease tensions after sparking a price war in China. Additionally, Tesla joined Chinese automakers in committing to “core socialist values” and fair competition in the country’s automotive market. Finally, Tesla launched a global referral program offering $500 cash back to buyers in several markets, including the US, China, Germany, France, Canada, Mexico, Hong Kong, and Singapore.
That’s all for now! Stay tuned for more updates on the exciting world of transportation.”
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Welcome back to The Station, your hub for all past, present, and future means of moving people and packages from point A to point B. Reporter Rebecca Bellan is back in the driver’s seat for the next two weeks while I put away my laptop and my head out for some adventures (planes, ferries, and bikes included).
Micromobbin’
India has been leading the shift to electric two-wheelers, but the pushback from a popular government incentive has caused sales to plummet, Reporting by Jagmeet Singh.
In May, the Indian government revised its incentive scheme, reducing subsidies from $183 per kWh (up to 40% of the vehicle price) to $122 per kWh of battery capacity (up to 15% of the vehicle price). The changes to the scheme resulted in a sudden halt in sales. In June, sales fell more than 56% and marked the lowest sales month in about a year.
This not only affects consumers, but could also lead to industry consolidation and even the departure of some players. He just goes to show that government subsidies help people buy green alternatives and can boost infant industries.
In other news . . .
we did a great e-bike rounding, so you can find the best electric bike to meet your needs, whether you’re a commuter or delivery driver, parent or senior, a bargain hunter or mountain biker. And the best part is, a LOT of these companies are having sales right now, so jump in now for some great summer deals!
Former Aston Martin boss Andy Palmer do u Want hello one be the volvo scooter.”
NY is inviting delivery people to apply for permission from the city electric bike trade-in program to get electric bike batteries that can cause fires off the streets.
Upward is partnering with super73 to handle the resale of all used electric bikes.
A 12-year-old boy died while riding in a I’m going e-scooter in Birmingham, UK, leading the city to require selfie checks of passengers in order to prevent driving by minors.
offer of the week
Deal of the week? Rather no deal.
UK EV maker in trouble Arrival has killed what would have been its second SPAC deal with Kensington Capital Acquisition Corp. The company announced a plan to de-SPAC (it publicly debuted via SPAC with CIIG Merger Corp. in 2021) in April 2023, but it appears the plan to de-SPAC liquidity has fallen through.
As regular readers of The Station will remember, all this SPAC double business raised a few of our eyebrows. Wejo was the first double SPAC, that is, a company that went public through a SPAC merger and then went through a second SPAC merger in search of more capital.
It is not clear what caused the death of the second arriving SPAC. Was it the terms? And was it Arrival or Kensington who backed out?
Other offers that caught my attention. . .
Finnish, a German car underwriting company with operations in the US, has signed a €25 million asset-backed credit facility with Avellinia Capital, to help finance its vehicle purchases. The company says this means it can devote future capital to growth initiatives rather than financing fleets.
move on, an African mobility fintech startup raised $8 million from Absa Corporate and Investment Banking. It has raised a total of $28 million to date.
Battery materials NEU, a Singapore-based lithium-ion battery recycling startup, raised $3.7 million in a seed round led by SGInnovate. The round was also joined by ComfortDelGro Ventures, Shift4Good, Paragon Ventures I and other angel investors.
Nicholas failed once again get enough shareholders to vote on a proposal that would allow you to issue more shares and thereby raise more capital. But a new law could soon help the company sidestep the need to insure more than 50% of all outstanding shares. The company was also successful in securing a $41.9 million grant from the California Transportation Commission to build six heavy-duty hydrogen refueling stations in Southern California.
RapidFlighta Virginia-based drone manufacturing company, acquired the intellectual property portfolio of the defunct Local Engines. Financial terms were not disclosed.
urban sdk, a company that sells cloud-based traffic management systems to state and local governments, raised an undisclosed amount in a seed round led by GOVO Venture Partners. DeepWork Capital, Florida Opportunity Fund, Techstars and venVelo also participated.
Notable readings and other tidbits
autonomous vehicles
A group of safe streets activists in San Francisco have been disabling Cruise and waymo robotaxis by put up traffic cones in their hoods. The now-viral prank is made in protest of vehicles that many accuse of malfunctioning and disrupting the flow of traffic, emergency vehicles and public transportation.
volkswagen has thrown out an autonomous vehicle testing program in Austin using a fleet of 10 all-electric ID Buzz vehicles equipped with Mobileyethe technology of .
from China Ride has insured the UAE’s first country-wide autonomous driving license to test and deploy its robotaxis, delivery vans and other autonomous vehicles on public roads.
Electric vehicles, charging and batteries
electric vehicle chargers could be hacked quite easilyand that represents a catastrophic risk that can threaten drivers and the electrical network.
We can’t get enough of FiatThe adorable Topolino EV. The automaker said this week that the quad will feature a number of bizarre accessories, including a small shower, “designed for those beach days on the Italian coast”. Totally, totally, the Italian coast.
Fisker he fell short of its own production expectations in the second quarter. The EV upstart produced 1,022 Ocean SUVs, when it expected to produce between 1,400 and 1,700. The company blamed component shortages on its sub-suppliers.
panasonic says he needs build four more battery factories to meet its goal of increasing annual electric vehicle capacity to 200 GWh by early 2031.
polar Star is working on building an off-road electric vehicle charging infrastructure in Michigan.
Rivian has started rolling its electric delivery vans for Amazon in Europe. The first 300 will be seen on the streets of Germany. The car manufacturer also Recorded a threefold increase in deliveries in the second quarter, 12,640 units to be exact, sending the stock soaring 16%. Rivian said he is on track to meet his previous guidance of 50,000 units this year.
CT+ reporter Tim De Chant weighs in on the seven things all fast charging networks for electric vehicles needs.
gig economy
uber, door board, grubhub and Relay are suing New York City will block minimum wage standards for temporary workers. They say regulators used faulty data to calculate the new compensation rules. The new $18 minimum wage for delivery drivers was place earlier this month.
calling a uber in Saudi Arabia is a nightmareand that’s because of state regulations about who can work for ride-sharing apps.
Miscellaneous
konux, a Munich-based deep-tech artificial intelligence extension, is building a predictive maintenance SaaS business to improve railway infrastructure. Their mission, as reported by Natasha Lomas, is to drive digitization and transformation into the most sustainable public transportation option using AI plus IoT.
tesla
Tesla will have its own section this week. Here we go.
Tesla has started hiring”ADAS Test Operators” outside of Europe as it works to expand its beta FSD (Full Self-Driving) suite and Autopilot outside of North America. Apparently, Australia is following.
there has been an increase cyber truck sightingsand the Tesla brothers are freaking out over it.
The company delivered a registration 466,140 units in the second quarter, which is 10% higher YoY. Investors will be looking for healthy margins on earnings day as many of Tesla’s sales were boosted by price cuts.
Speaking of price cuts… Tesla is cutting prices for model 3 and model Y vehicles in Japan now.
The Elon Musk-owned carmaker started a price war in Porcelain, and now the company is trying to calm the waters. Tesla joined Chinese automakers, including its biggest rival BYDby signing a letter committing to improve “core socialist values” and compete fairly in the country’s automotive market.
But then… Tesla stepped forward and threw a global referral program$500 cash back to buyers who purchase Model 3 or Model Y. The program was unfolded in Tesla’s biggest markets, including the US and, you guessed it, China. (Also Germany, France, Canada, Mexico, Hong Kong and Singapore).
Tesla has more converts to his North American charging standard (NACS). Mercedes Benz is he latest to adopt NACS, joining a handful of other automakers including GM, Ford, Volvo and Polestar. Mercedes electric vehicles will have access to Tesla’s supercharging stations by 2024. The automaker also plans to expand its own charging network, with more than 2,500 chargers across North America.
AND Kentucky now requires that Electric vehicle charging companies include teslathe charging plug, as well as the standard CCS, if they want to secure federal dollars from a state program to electrify highways. Kentucky is the first to do so, but Texas and Washington are thinking about it.
He National Highway Traffic Safety Administration has required Tesla to provide more information in its driver monitoring system as part of an ongoing investigation into autopilot safety.
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The best e-bikes for every type of rider and where Chinese EV makers are headed
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