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Welcome back to TechCrunch Mobility — your central hub for news and information about the future of transport.
I spent a few days in Austin for SXSW, where I met with founders and executives, caught a few conversations, and even moderated two panels. While genetic AI was clearly the big attraction, the future of transportation continued to garner attention from investors, urban planners, founders, corporations and the media. I heard a lot of talk about how autonomous vehicles will fit into cities, as well as talk about what technology could help ease traffic and reduce emissions.
I caught an interesting conversation between Austin Mayor Kirk Watson and Uber CEO Dara Khosrowshahi, who predicted the company will be greener, more affordable and challenge Amazon in the future. Those goals seem a little more attainable — and higher on the priority list — now that Uber has finally nailed the profitability framework.
Waymo co-CEO Tekedra Mawakana was also at SXSW, where it announced that the company will begin offering a robotaxi service to the public in Los Angeles this week and in Austin by the end of the year. Side note: we hear Austin service will likely come sometime this summer. I might be back in town sooner than expected!
Okay, let’s move on to the rest of the week’s news!
A little bird
EV launch Fisher has spent the past few months courting dealerships in an effort to move away from a Tesla-style direct sales model after struggling to sell half the cars it makes in 2023.
It seemed like the company had made some progress on that front. However, a little bird told us that one of the dozens of agencies that had signed up has already left. Fisker Ourisman, which was supposed to be the newest extension of the Ourisman Automotive Group, pulled out of the startup and deleted the website it created to promote Fisker’s Ocean SUV just a month after the deal was signed.
The loss of the dealership comes as the Wall Street Journal reported that Fisker has hired outside help to consider one possible bankruptcy filing.
It’s not immediately obvious whether other marketers have followed suit. Mike Domenicone, owner-operator of Classic of Atlanta, said he has done more than 150 test drives and sold out the first shipment of Ocean SUVs at his new “Classic of Fisker” branch.
Do you have a tip for us? e-mail Kirsten Korosech at kirsten.korosec@techcrunch.com or Sean O’Kane sean.okane@techcrunch.com. If you prefer to remain anonymous, click here to contact uswhich includes SecureDrop (instructions here) and various encrypted messaging apps.
Offer of the week
If you’re looking for another example of investor enthusiasm for AI, check out the latest fundraiser at the self-driving car software company Applied Intuition.
The company raised $250 million in a round that took its valuation to $6 billion and included a who’s who of high-profile investors. The Series E round was led by Lux Capital’s Bilal Zuberi, investor Elad Gil and Porsche Investments Management, the independent venture arm of the sports car maker. Others taking part in the round included Andreessen Horowitz, Mary Meeker’s development fund, Bond and even Formula 1 world champion Nico Rosberg.
Applied Intuition says it is pushing to bring more artificial intelligence to the automotive, defense, construction and agriculture sectors. As a reporter Sean O’Kane wrote, the company seems to have found a particular sweet spot for VCs looking for startups with AI products that move into big industries with big budgets — defense being a hot area — with seemingly endless opportunities.
Other offers that caught my eye…
Anaphytea battery technology startup, has raised £1.6 million ($2 million) through a government-backed investment led by Elbow Beach Capital.
inDrivea mobility app that includes ride-hailing and other urban services, has expanded its financing deal with General Catalyst to $300 million, up from the original $150 million it secured through 2023.
Joyridemicromobility software provider, has raised $5.2 million in a Series A funding round led by Yamaha Motors and includes return investment from Urban Innovation Fund, Proeza Ventures, Two Small Fish Ventures and Export Development Canada (EDC).
Kineticself-driving technology startup Motional has secured a bridge loan that provides temporary financial relief as the company looks for a longer-term source of funding, TechCrunch has learned exclusively.
Telo, the electric vehicle startup that aims to produce a pint-sized pickup truck, has raised $5.4 million in a round from Neo and Spero Ventures. Spero venture partner and Tesla co-founder Marc Tarpenning will join the board.
Volvo Car invested an undisclosed amount to British startup Breathe Battery Technologies. Volvo plans to integrate the startup’s battery management software into its next-generation electric vehicles to improve charging time by 30 percent.
Notable reads and other items
Autonomous vehicles
Apptronik, the Austin-based robotics startup, has partnered with Mercedes-Benz. The two companies will work together to identify and then test applications for highly advanced robotics in Mercedes-Benz Manufacturing.”
Dawn unveiled its autonomous vehicle system during a day of analysts and investors at its headquarters in Pittsburgh. The company demonstrated how Peterbilt 579 semi-trucks equipped with the latest Aurora Driver system (and without a human behind the wheel) handled real-world off-road driving conditions.
Phantom Auto, a remote-driving startup that launched seven years ago amid the frenzy of self-driving technology, has shut down after failing to secure new funding. The startup had raised $95 million since its inception and had customers. And they told us they were close to raising more capital before that fell through. We’ll be watching to see what happens with the Phantom Auto IP.
Zoox expanded driverless testing – in terms of operating hours, conditions and geography – near its headquarters in Foster City, California, and in Las Vegas. The driverless Zoox, which is not yet open to the public, now operates along a five-mile stretch of the southern end of the Las Vegas Strip. Zoox is expected to open to public riders in Las Vegas later in 2024.
Electric vehicles, batteries & charging
Coreshella battery materials startup has revealed a breakthrough that could lower the cost of lithium-ion batteries.
Lucid Motors is locked in a trademark battle over the Gravity SUV name. Google Ventures-backed electric vehicle charging company Gravity Inc. filed a “petition for cancellation” with the US Patent and Trademark Office’s Trademark Trial and Appeal Board (TTAB) in December asking for Lucid’s Gravity trademark to be revoked.
India will reduce import taxes on some electric vehicles for companies that commit to invest at least $500 million and set up a local manufacturing facility within three years, a policy change that could boost Tesla’s plans to enter the South Asian market.
Lordstown Motors emerged from bankruptcy under a new name – Nu Ride Inc. – and an almost singular focus: continuing her lawsuit against iPhone maker Foxconn for allegedly “destroying the business of an American startup.” The reconstituted version of Lordstown Motors will also pursue “potential business combinations,” although it did not say what kind of mergers it is pursuing.
Horserace
Uber and Lyft is leaving Minneapolis for the minimum wage.
This week’s wheels
Image Credits: Kirsten Korosech
While in Austin, I took a test ride on public roads in a self-driving prototype VW ID Buzz. This was not a true driverless ride as a human safety operator was still behind the wheel. However, it did give me some insight into how VW ADMT — the autonomous driving, mobility and transportation subsidiary of the German automaker — is moving forward. The final and commercial version of ID without a driver. The Buzz AD, which will be designed for travel, is expected to be released in 2026.
You may recall that VW’s autonomous vehicle ambitions ended with Argo AI, a startup backed exclusively by the automaker and partner Ford. The two companies withdrew financial support for Argo AI, leading to its closure. VW then turned to Mobileye and has since taken a different path to automated driving that is at odds with the likes of Waymo, Cruise, Zoox and Motional.
VW and Mobileye believe in a progressive approach in which the technology found in advanced driver assistance systems used in modern cars can be developed into a driverless system used in robotaxi. It is similar to what Tesla has advocated.
My ride wasn’t entirely smooth, although I didn’t expect it to be. However, the vehicle saw and stopped suddenly when a human-driven vehicle unexpectedly pulled out of an alley. A hiccup came as we approached a double parked emergency vehicle. The identity. Buzz sat for a while before the safety operator took control and drove around him.
