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Hey! Hello readers and welcome back to The Station, your weekly newsletter for all things transportation. I hope you enjoyed the New Year! I was grateful for some rest and recovery, just in time for CES 2024.
Yes, I'm in Las Vegas once again for the annual technology show. The big three American automakers (Ford, G.M. and Stellar) will not have large displays and flashy advertisements like in previous years. However, many automotive and, in general, transportation companies and new companies will attend. I'll be looking for intriguing and innovative technology all week. Wish me luck. ;D
sling, Come on and vinfast They are showing electric vehicles, hyundai Supernal will reveal an electric vertical take-off and landing vehicle and Mercedes will focus on software and in-cabin experience. ai is a topic that is emerging everywhere and, perhaps surprising to some, hydrogen fuel will also be present.
Stay tuned for our coverage this week.
Do you want to send us a tip, comment or complaint? Email Kirsten at [email protected]. Remember you can send us a note at [email protected]. If you prefer to remain anonymous, Click here to contact uswhich includes SecureDrop (instructions here) and various encrypted messaging applications.
Offer of the week
It's been a bit quiet in recent weeks, but there have been some deals worth sharing.
One of note is Get up, a Seoul-based electric scooter and bike-sharing operator that is preparing to go public on the Korean stock market and is reviewing acquisition targets. Founder and CEO Walter Yoon told TechCrunch that the company is in talks for acquisitions in the micromobility industry to increase its market share ahead of its planned initial public offering, expected in early 2025.
“Details have yet to materialize, but we are currently looking at three to five targets to acquire,” Yoon said, adding that he has not decided how many acquisitions he will complete.
Other offers that caught my attention…
Bumpera London-based auto repair financing startup, raised $18 million in a round led by AutoTech Ventures. Shell Ventures, InMotion Ventures, Porsche Ventures and Revo Capital also participated. Bumper also got $30 million in debt.
Revfinan Indian fintech startup offering loans for electric two and three wheelers raised $14 million in a Series B round led by Omidyar Network, the philanthropic investment firm of eBay founder Pierre Omidyar.
Salt Creek Capital acquired Vantage Vehicle International, a California-based manufacturer of low-speed utility vehicles.
Exchange energyan Indonesian electric vehicle battery startup, raised $22 million in a Series A round led by Qiming Venture Partners. GGV Capital and existing investor Ondine Capital also participated.
Notable readings and other tidbits
ADA
Taxpayer Tim Stevens Tested advanced driver assistance systems in Tesla, BMW, Ford, GM and Mercedes. Here's how they stacked up.
autonomous vehicles
dawn and Continental cleared the first major hurdle in a $300 million project to produce thousands of autonomous hardware kits for driverless trucks.
China The robotaxi industry is facing new headwinds and a bit of caution after watching the Cruise drama unfold. TC reporter Rita Liao takes an in-depth look at how these startups are coping.
Only reached an agreement with a security-focused software company Foretellix to help with virtual testing of its automated driving system, in a bid to reduce R&D costs.
Electric vehicles, charging and batteries.
2024 will be a crucial year for India, as the country faces challenges in offering affordable growth capital to late-stage startups while trying to attract Tesla and other foreign electric vehicle manufacturers to enter its domestic market. Here's how the country will navigate electric vehicles in 2024.
fisker is struggling to meet internal sales goals, documents show.
rivian It delivered 10% fewer electric vehicles in the fourth quarter, compared with the third quarter, leaving investors concerned about weakening demand. Rivian surpassed its 2023 production goals, providing positive news for the electric vehicle maker.
Superpedestrian The electric scooters (more than 20,000 of them) will be auctioned later this month, along with other equipment from the startup's US operations, after closing its doors on December 31. Also, don't miss this TechCrunch article on what Superpedestrian's demise means for the electric scooter industry.
tesla It shipped a record number of electric vehicles in the fourth quarter to help it beat its goals for the year, thanks in part to the popularity of its cheapest vehicle.
He United States Government revealed the list of electric vehicles that qualify for the full federal tax credit under the newest, strictest guidelines. Here's the list of qualified electric vehicles and more details on what prompted the change.
VinFast has allocated an investment of up to 2 billion dollars to build a factory in India.
Cities
CT reporter Rebeca Bellan focused its attention on the overlooked technology that kept cities moving in 2023.
Uber has been quietly testing a flexible pricing service in more than a dozen cities in India.
