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Welcome back to TechCrunch Mobility, your one-stop shop for news and information on the future of transportation.
This week, read about the autonomous vehicle company. Enginebecause the tesla The board is likely having discussions about Elon Musk 2018's $56 billion pay package, a new unicorn focused on student transportation, and more.
Come on!
a little bird
Here's a fun one for you all. Amid all the layoffs and startup failures, hiring is also happening.
A little bird pointed out a particularly interesting hire at Elon Musk's house. The boring company. Vignesh Swaminathan – who is also known as mr barricade to its 1.8 million Tik Tok followers, recently took on a position as a senior civil engineer. Why is it so notable? Swaminathan is a well-known urban planner (and TikToker) who spent the better part of a decade focused on designing bike lanes and pedestrian trails as CEO and president of Crossroad Labs.
It appears that Crossroad Labs, a civil engineering design firm based in Cupertino, California, closed in January. Swaminathan took the job at The Boring Company a couple of weeks later. We wonder if his previous experience in urban and bicycle-centric planning will be put to work at The Boring Company.
Do you have a suggestion for us? Email Kirsten Korosec at [email protected] or Sean O'Kane [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
A new unicorn has been born. I'm talking about Zooma student transportation startup that uses a combination of buses, vans, and other vehicles combined with software to provide efficient and safe routes to and from school for children.
The startup, founded and run by Ritu Narayan, raised $140 million in a Series E funding round led by global investment firm GIC. Other investors included Climate Investment, Sequoia and SoftBank Vision Fund 2. The financing raised its valuation to $1.3 billion.
Zūm has made strides in recent years, attracting customers from school districts in San Francisco, Los Angeles, Oakland, Seattle, Chicago, Boston, Nashville and Maryland. It is now focused on converting its vehicle fleet to electric vehicles by 2027 while continuing to grow its footprint.
Other offers that caught my attention…
BluSmartAn Indian ride-hailing startup that competes with Uber and local rival Ola, raised $25 million from Switzerland-based impact fund ResponsAbility in a midstream structure, including partial equity and debt dilution.
Well, this isn't so much a deal as it is a deal breaker. Cake, the Swedish electric motorcycle startup, filed for bankruptcy on February 1 after failing to secure sufficient investment. Cake joins a growing list of micromobility companies that have struggled financially over the past year, most recently VanMoof, superpedestrian and Bird.
In whichA UK startup that combined a school bus service with a software platform to protect students was acquired by a “smart bus” startup. Zeelo.
Notable readings and other tidbits
ADA
XPengTesla's rival in China is making plans to bring its advanced driving assistance technology to international markets.
autonomous vehicles
Engine It is the product of a joint venture between hyundai and automotive supplier Suitable. But that relationship is changing. Aptiv said he will no longer allocate capital to the effort. We explain why.
Electric vehicles, batteries and charging.
Arrivalcommercial electric vehicle startup, is being delisted from the Nasdaq stock exchange as it moves toward dissolution.
tesla was sued by 25 California counties alleging that the automaker has repeatedly mishandled hazardous waste at facilities across the state. Two days later, the parties settled, with Tesla agreeing to $1.5 million in fines and a five-year court order requiring inspections.
technology in the car
Hesai, a Chinese company that makes lidar sensors, was added to the U.S. Department of Defense's list of “Chinese Military Companies.” Hesai called the inclusion “unfair, capricious and without merit” and said the sensors are only for civil use. Hesai also emphasized that the company has no ties of any kind with any military of any country.
People
Elon Musk The $56 billion pay package is unfair, a Delaware judge ruled. If the decision stands (many expect an appeal), it will void the largest compensation deal in corporate history.
This week's wheels
Image credits: Kirsten Korosec
I recently spent a week in this mint hanauma. Genesis GV60 Performance. The best takeaways? This is a sleek, premium-looking all-electric vehicle (inside and out), quick off the finish line and a lot of fun to drive, but not exactly amazing around tight mountain turns.
The all-wheel drive vehicle (there are electric motors at the front and rear) generally offers good handling. When I pushed it, there was a bit of body roll in corners. But let's be honest: Most consumers don't drive like they're on a test track. They shouldn't do it either.
The 77.4 kWh battery combined with the electric motors produces 429 horsepower and 516 pound-feet of torque. That allows the GV60 to go from 0 to 60 miles in about four seconds, certainly quick enough to be appreciated by EV fans. The battery range of 235 miles is low in this era of electric vehicles. It's certainly enough for daily commuting and driving needs, but some consumers may balk at spending the $69,550 base price for an all-electric SUV with such low range compared to its peers.
