Welcome again to The Station, your central hub for all previous, current and future technique of shifting folks and packages from Point A to Point B.
Your ordinary host Kirsten was shredding off-road at the Rebelle Rally this week, so I’ll be taking on the publication. Let’s bounce in with a few phrases about Tesla.
Ah, however earlier than Rebecca does . . . it’s me, Kirsten, popping in right here to share a little bit of what I noticed and skilled at Rebelle Rally 2023, a 2,120-kilometer off-road and navigation competitors. In its eighth yr, the Rebelle has turn out to be a proving floor of kinds for the 65 all-women groups who take part in addition to inventory producer automobiles. The catch? GPS and different digital units are strictly prohibited.
So what am I trying out at this seemingly non-tech occasion? EVs and tech, after all. Oh, and inexperienced hydrogen, consider it or not.
There had been 10 automobiles out of the 65 that fell into the electrified class akin to the Jeep Wrangler Rubicon 4xe. Four of these automobiles — all of them Rivian R1T pickups — had been electrical. And this yr, one Rivian crew took first place in the 4×4 class (there are two courses in the Rebelle) — the first time an all-electric car was on the prime podium. The first place finishers, driver Lillian Macaruso and navigator Alexandra Anderson, are each workers of Rivian.
OK, Rebecca, again to you.
Tesla reported its third-quarter earnings this week, and as soon as once more, all eyes had been on the automaker’s margins amid ongoing value cuts.
Tesla’s shares, that are priced extra as a tech inventory than as an automaker’s inventory, had been down after Q3 earnings. Investors had been clearly feeling skittish after Tesla reported a gross margin of 17.9%, down from 25.1% in the similar interval final yr. That’s additionally down from Q2’s margins of 18.2%. As a outcome, earnings fell 44% to $1.85 billion in Q3 from the similar year-ago interval.
Investors see the falling margins and Tesla’s value cuts as proof that demand is lessening for the automobiles as different EVs take market share and rising rates of interest make it troublesome for a lot of patrons to afford massive ticket purchases. The firm additionally reported that photo voltaic deployments slipped 48% in Q3 from the similar interval final yr. But the firm made up for it by pulling in a 90% spike in power storage deployments.
Tesla additionally gave some updates about its long-delayed Cybertruck. Initial deliveries are set for an occasion at Giga Texas on November 30. Elon Musk famous that scaling the Cybertruck will likely be exhausting and it should take 18 months earlier than the pickup is worthwhile.
“I mean, we dug our own grave with Cybertruck,” stated Musk.
The billionaire government additionally stated Giga Texas will be capable of produce about 250,000 Cybertrucks a yr beginning in 2025. But let’s do not forget that Musk isn’t nice at making predictions. After all, he initially stated the Cybertruck could be on the market by 2021. Expect a few of these numbers to be pushed out, too.
Want to succeed in out with a tip, remark or grievance? Email Kirsten at kirsten.korosec@techcrunch.com or Rebecca at rebecca.techcrunch@gmail.com.
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Micromobbin’
This week was the commerce present Micromobility America. Here are a few of the finest bits that got here out of it:
Bird is now doing e-bikes once more? But as a substitute of the VanMoof knockoff of earlier years, Bird has partnered with TradeHubb, an e-bike provider, and Spring, a strategic retail development firm, to launch the bike. You would possibly recall that Bird final yr ditched its retail bike providing to deal with shared rides in an try to succeed in profitability. The struggling firm was additionally just lately delisted from the inventory market. Who is aware of what’s occurring behind the scenes? I attempted reaching out to study extra, however no response. If you will have a tip, hit me up!
The crew at Ride Review launched the Rider’s Choice Awards once more, for many who need to vote. Winners will likely be introduced January 25.
The people behind Micromobility America additionally launched the Electric Rider Alliance, a 501c6 membership group that’s set as much as “create a level playing field in the transportation industry for the small electric vehicle ecosystem through standards, lobbying and governance.”
In different information . . .
Bolt Mobility is introducing distance-based pricing for a few of its micromobility automobiles. The purpose right here is to incentivize riders to decelerate and trip extra safely, fairly than racing the clock.
An e-scooter that appears like a Cybertruck? Check out Infinite Machine’s first product, the P1, which is on sale now.
Meet Shane, a two-wheeled EV idea space-pod-looking factor from the creator of the unique hoverboard, Shane Chen.
Deal of the week
Kirsten right here once more! Convoy isn’t a conventional deal of the week, however its collapse positive bought my consideration.
The digital freight dealer informed workers this previous week it was shutting down on account of what executives described as a “massive freight recession.” It seems that disrupting the freight enterprise is tough.
The abrupt closure, which worn out buyers, comes about 18 months since the Seattle-based firm raised $260 million in recent funding that pushed its valuation to $3.8 billion.
I went again and learn an interview Ztoog performed with Convoy co-founder and CEO Dan Lewis. Just a few issues he stated caught out, specifically what led him to begin the firm in the first place. The former Amazon and Google government, who has a background in technique and administration consulting, informed Ztoog that when he was struck by the urge to begin a firm, he researched the money-attracting industries of the world, and then, utilizing AngelList, noticed what number of firms had been making an attempt to disrupt these industries.
Here’s the nugget:
His search yielded hundreds of firms that had been engaged on industries starting from telecommunications and style to video video games and meals. Billions of {dollars} had been going into trucking every year however fewer than 30 startups confirmed an curiosity in the area.
“I saw a massive opportunity and few people going after it,” Lewis informed Ztoog.
And then later, when requested if his methodology of deciding on a route for a startup continues to be a good methodology, Lewis stated, in brief, sure. Read the complete interview from May 2022 right here.
Other offers that bought our consideration . . .
Hayden AI, an AI and geospatial analytics firm, raised $53 million in a Series B funding spherical led by the Drawdown Fund. The firm’s tech is being utilized by authorities companies to implement visitors violations that hinder transit buses and seize knowledge to assist improve ridership and enhance visitors effectivity.
Laka, a European mobility insurtech firm for e-bike riders, acquired Cylantro, a French e-bike insurance coverage dealer. The firm additionally introduced a €7.6 million spherical lead by Shift4Good alongside Ponooc, Autotech Ventures, ABN Amro Ventures, Porsche Ventures and others.
Commercial fleet insurance coverage startup Nirvana Insurance has raised a $57 million Series B to develop its massive knowledge platform, rent new workers and develop its enterprise in the trucking trade. Lightspeed Venture Partners led the spherical, with General Catalyst and Valor Equity Partners additionally taking part. The spherical doubles Nirvana’s valuation to greater than $350 million post-money.
Supply chain logistics firm Transfix raised a $40 million Series F. The firm is backed by New Enterprise Associates, G Squared and Canvas Ventures.
EV charging firm Wallbox has acquired the operations and belongings of German-based EV charging options startup ABL for €15 million. Together the plan is to deploy greater than 1 million chargers globally.
Volta Trucks filed for chapter proceedings in Sweden as difficulties with suppliers proved a hindrance to elevating funds. Volta stated the chapter in August of Proterra, an EV elements provider, and the uncertainty over its own battery provider means it wanted to chop down the variety of vans it may produce. Volta, which relies in Sweden however has operations in the U.Okay., additionally stated it could file for chapter in Britain.
Notable reads and different tidbits
Autonomous automobiles
Cruise, General Motors and Honda are launching a robotaxi service in Japan underneath a new three way partnership. The service will launch with Origin automobiles in Tokyo in 2026.
Speaking of Cruise, the National Highway Traffic Safety Administration (NHTSA) has opened an investigation into the GM subsidiary’s AV system following a number of incidents involving pedestrians in San Francisco. The most up-to-date one left a lady caught underneath a Cruise robotaxi after being hit by a human-driven car.
Foxconn and Nvidia are constructing “AI factories” to assist speed up AVs, robotics and different sensible functions. The AI factories place the two towards Tesla, which is constructing the Dojo supercomputer to do roughly the similar factor — absorb huge quantities of information, practice it, tweak code and ship it again out to self-driving automobiles.
Waymo launched a light-weight simulator known as Waymax for the AV analysis group. The simulator is designed to coach a number of brokers to carry out complicated, lifelike behaviors.
Electric automobiles, charging & batteries
BMW Group says it should undertake the NACS charging customary in the U.S. and Canada. Drivers of BMW, Mini and Rolls-Royce manufacturers will achieve entry to Tesla Superchargers in early 2025, and in that very same yr, BMW says it should implement NACS in EVs bought in the U.S. and Canada throughout those self same manufacturers.
Speaking of NACS, world EV charging community CostPoint has formally opened its AC and DC piles and is now deploying NACS connectors throughout its community.
General Motors is delaying its $4 billion plan to transform the Orion Assembly plant into an EV truck manufacturing facility to late 2025 amid softening EV demand and, we’re guessing, the ongoing UAW strike.
Kia has began taking reservations for its EV9 full-sized SUV. Reservations are $750 and might be utilized to the buy of the firm. This is considered one of the first automobiles Kia has allowed prospects to order upfront.
Lucid missed Wall Street supply estimates in the third quarter by about 500 automobiles. The automaker delivered 1,457 of its luxurious Air sedans, reporting flat development year-over-year. The outcomes despatched shares down as buyers fearful about softening demand for Lucid’s solely EV.
California-based EV startup Pebble unveiled a prototype of its flagship all-electric journey trailer. The $100,000 EV is designed to help a digital nomad seeking to get misplaced in the wilderness — it might probably dwell off-grid for seven days.
Commercial EV startup REE Automotive has reported an order e book that now totals $25 million for its modular battery EV platforms, devoted to B2B prospects.
About 10,000 of Rivian’s all-electric vans are delivering packages all through the U.S. for Amazon.
Tesla has urged the Biden administration to undertake stricter gasoline economic system requirements than the NHTSA has proposed. Most different automakers have already stated the NHTSA’s proposal was unfeasible, so Tesla’s name on regulators to double down appears to be yet one more method the EV maker can one-up its opponents.
Toyota has additionally joined the NACS bandwagon. The automaker will construct sure Toyota and Lexus automobiles from 2025 onward with an NACS port.
Future of flight
EVTOL firm Archer Aviation plans to begin air taxi operations in Abu Dhabi in 2026. From there, Archer says it should develop throughout the UAE as a part of a memorandum of understanding with the Abu Dhabi Investment Office.
Miscellaneous
The United Auto Workers strike is affecting CES. Stellantis canceled its deliberate shows for the tech commerce present in January, citing the value of ongoing UAW strikes.
Zipcar is getting hit with a wonderful from the NHTSA for “renting vehicles with open, unrepaired recalls.” One recall issues 2015–2017 Ford Transit Vans, which continued to look on Zipcar’s platform regardless of issues of safety with the automobiles.
People
Autobrains employed Uri Yacovy, a former SVP at Mobileye, as its chief working officer.
Logistics firm Flexport is shedding 20% of employees, or about 600 folks, topping off a spate of workers upheavals at the firm.