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Tesla rolls into a pressure cooker, Paris mulls over its scooter future and dual SPAC emerges


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Let’s get straight to it, shall we?

The most important thing for me this week is Tesla. I know, weird.

But really, it seems like pressure is coming from all sides these days. the company’s decision to discount has angered recent buyers (one need only turn to Twitter to see the anger), shareholders are becoming more vocal about the lagging stock price (it has fallen more than 64% over the past year) and it faces growing regulatory pressure over Autopilot and its so-called FSD software beta product that promises full self-driving. Obviously, Tesla cars are not self-driving. This system is an advanced driver assistance product.

At any rate, these problems continue to pile up. How much can the company take?

In the past, Tesla and its CEO Elon Musk has managed to escape criticism or concerns that it is stagnating, often by introducing a potential future product or hitting ambitious production and delivery goals.

But Tesla almost missed himself production and delivery instructions for the year and Wall Street’s Q4 expectations. And shareholders, consumers and regulators seem tired of the cycle. To me, this is just another sign that Tesla is starting to be seen (and treated) more as a legacy automaker rather than an upstart company that can’t be. wrong.

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Micromobbin’

scooter1a

scooter1a

Rebecca Bellan was out last week, but I still wanted to share a few interesting micromobbin stories reported by you honestly and Romain Dillet who is from France.

The first is the article by Romain review Paris and it dimly decided scooter that could upend the micro-mobile industry there. I recommend you to read the entire article. This is a small taste.

On March 23, the fate of the 15,000 colorful electric scooters currently flooding the streets of Paris could change dramatically as the French capital considers whether to renew the licenses for the three companies. scooter is currently operating in the city or not.

Romain immediately understood the implications, far beyond Paris.

And this won’t just affect Uber’s Dott, Tier and Lime – the three companies have keep those licenses as of 2020. This decision will set a precedent for many cities around the world to also allow scooters on their streets. If things don’t go as planned, a negative decision in Paris could have a negative impact on micromobility startups globally.

Bugatti Electric Car 2023_Gold 2

Bugatti Electric Car 2023_Gold 2

Image credits: Bugatti/Bytech

Next is the story of a more luxurious, high-performance scooter. I’m talking about Bugatti super caryes Bugatti, and its new electric scooter.

Bugatti, through a partnership with tech accessories company Bytech, has launched a $1,200 electric scooter in 2022. The two companies have teamed up again to create a new electric scooter. second generation scooter it’s more powerful, comes equipped with new features and colors, and has larger “self-repair” tires.

According to the companies, the 2023 scooter is 10% larger than its predecessor and is equipped with a 36 volt / 15.6Ah battery and an electric motor with a maximum output of 1,000 watts.

According to the company, the combination of battery and motor allows the scooter to tilt up to 18 degrees, top speeds of 22 mph, and go 35 miles on a single charge. (That’s 22-mile range in the previous model.)

There is no word yet on pricing for this larger second-generation model. Perhaps this is one of those “if you had to ask” moments. ;D

See you next week!

Trading of the week

station money

station money

We have seen a lot of SPACs in the last two years. but what about dual SPAC? Yes, it happened.

I’m talking about WejoUK automotive data exchange platform went public in November 2021 following a merger with a special purpose acquirer via Company acquired Virtuoso with an implied $800 million valuation.

But what is this? The company announced on January 10th, now it has agree to merge with a SPAC created by a private equity firm capital bank, in a deal that could rise to $100 million. And that was the money Wejo needed.

It looks like this latest SPAC is the buoy Wejo is using to keep it afloat. Not only did Wejo’s stock price drop below $1 a share; The company is also burning cash.

Wejo warned in November that it had a $15 million cash balance, which would sustain the company for a “very short period of time.”

Wejo is about two years away from generating life-sustaining revenue-no-we-not-about-to-be-bankruptcy. To add a bit of financial drama to the script, Wejo also owes Palantir millions of dollars, each one piece op-ed by Chris Bryant at Bloomberg.

This double SPAC is an odd number. I have an uneasy feeling that some other failed SPAC will try the same tactic.

Other deals that caught my attention this week…

Apollo Mobile Future Corporation agreed to buy Chinese electric vehicle manufacturer WM Automotive Corporation for 2.02 billion USD. The acquisition is still subject to regulatory approvals.

hystara green hydrogen startup based in Norway, raised $26 million in a Series B round co-led by AP Ventures and Mitsubishi Corp. Other investors include Nippon Steel Trading, Belgium-based investment firm Finindus, Hillhouse Investment, Trustbridge Partners, SINTEF Ventures and Firda.

Ottopiaan Israeli remote operations company focused on the agriculture, construction, last mile delivery, logistics and mobility industries, has raised $14.5 million in a Series A funding round, attracting public transport giant ComfortDelGro as an investor. Other participants include AI Alliance Fund, MizMaa Ventures, IN Venture and Next Gear Ventures. t

Oxboticaa UK start-up that develops software to power autonomous vehicles, raised 140 million USD The Series C round includes investment from Japan’s Aioi Nissay Dowa Insurance Company and the company’s ENEOS VC Innovation Partner. Existing investors BGF, safety equipment group Halma, hospitality and entertainment investor Hostplus, Kiko Ventures, online shopping company Ocado Group, Tencent, Science Ventures and components maker ZF automobiles also participated.

Tianqi Lithium Corporation agree to buy Australian lithium explorer Essential Metals Ltd in a deal worth A$136 million (US$94 million), is estimated to provide enough supply for around 10 million electric vehicles.

Notable readings and other tidbits

self-driving car

dawn give a progress report to FreightWaves.

What’s Next for Pittsburgh self-driving car scene?

ADAS

The National Highway Traffic Safety Administration obviously “works very fast” about the Tesla Autopilot investigation opened in August 2021. Speaking of pressure on Tesla, there may be more to come later intercept videos and photos published about the stacking of eight cars on San Francisco’s Bay Bridge caused by a Tesla Model S. The driver claimed “Full Self-Driving Mode” was active at the time of the collision.

Electric vehicle, battery and charger

wise group Its production 7,180 Luxury Air car in 2022, exceeding guidance lowered earlier in the year. Lucid adjusted its guidance last fall, saying it will produce 6,000 to 7,000 vehicles by 2022.

Nicholas is officially moving battery production from Cypress, California to its Coolidge, Arizona manufacturing facility. The migration is expected to be completed by the beginning of the third quarter. Production will continue at Cypress through the end of the second quarter.

Proterra produced the first commercial EV battery in New factory in Greer, South Carolina. The company calls the factory “Powered 1” and believes that will be the largest battery manufacturing facility in the United States dedicated to electric commercial vehicles.

Tesla plan invested about 770 million USD to expand its factory near Austin, including a mold shop, a battery cell testing facility, and another facility to manufacture cathode and actuators. Tesla said it wants to build new facilities this year.

Zeekrpremium brands under Geely Joint Stock Companybegan mass production of a second model, an electric truck called the Zeekr 009.

Person

carvanaused car dealers online, keep struggling and that’s it cutting worker as sales slowed and it struggled to manage its $7 billion debt.

Yacht yes Nilka Thomas as its new chief human resources officer. Thomas, who most recently served in a similar position at Lyft, succeeds Arden Hoffman at Cruise. Thomas also spent 13 years at Google with leading efforts focused on recruiting, D&I, employee engagement, HR and employee relations.

Hyzon enginedesignated heavy-duty fuel cell electric vehicle supplier John Edgley as president of international operations.

AI scaleThe San Francisco-based company that uses software and people to label image, text, voice, and video data for companies building machine learning algorithms, has come under fire. 20% of the workforce. The company did not say how many people work at Scale AI. However, in February 2022, the company told TechCrunch that it employed about 450 people.

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