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Passage It made the big announcement of EV early this week – a plan to invest $ 2 billion to transform Louisville’s assembly factory into a factory capable of making a new generation of affordable EVS, starting with a mid -middle truck with a basic price of $ 30,000.
In the midst of presentations by various executives, union leaders and employees, Managing Director Jim Farley Said something I could not move:
“There are no guarantees with this project. We do so many new things. I can’t tell you with 100% uncertainty that all of this will go right. It’s a bet.
The bet? The company has collected a team of skunkworks, which worked for a few years to find a way to build a series of affordable electric vehicles that could be made in the United States faster, more effectively and with fewer parts, while maintaining profit margins. To do this, the company has dissolved the old century system that made Ford a household name and developed a new three -level assembly line using more automation and unicast.
Ford, like many other automakers, is pressured by invoices, slower than expected EV demand and the threat of competition from China. The company must act if it wants to remain relevant. But is this move?
Ford cannot really use this manufacturing technique in other factories, as it is nailed to how the vehicle is designed and then divided into three unicasts – a significant deviation from the method used to assemble its other vehicles. This means that we are witnessing a $ 5 billion experiment ($ 3 billion for the LFP battery plant and $ 2 billion for Louisville) to maintain jobs in the United States.
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A little bird
Some little birds told us that the start of the car rental Cellwhich was once charged as “the best alternative to Hertz” no longer works.
The start had a problem with the end of last year after the staff was cut and cut in just two markets. But in July, the company sold its customer list to car shares company from peer Fort. (Turo has further refused to comment on the terms.) And since then, Kyte seems to have gone completely down, entering a form of forced management in California at the end of July.
This apparently left several clients in Lurch who had already closed rentals through Kyte. Turo told TechCrunch that he is only responsible for the assets he bought-not for financial claims against the now-Defunct Kyte.
Do you have a tip for us? Email Kirsten Korosec to kirsten.korosec@techcrunch.com or my mark on kkorosec.07, or Sean O’Kane in sean.okane@techcrunch.com.
Offers!
BumperA UK -based market now, pay a platform for car service and repairs later, set $ 10.8 million In a funding of expansion of Series B led by Autotech Ventures. Inmotion Ventures, Suzuki Global Ventures, Porsche Ventures and Shell Ventures.
WiseA launch for Lagos -based food delivery, raised $ 9 million in funding AA -led by Novastar Ventures, with the participation of Y Combinator, AAIC investment, Rebel Fund, GFR Fund, Kaleo, Hoaq and others.
Stay in air mobility – Urban Air Mobility Company, announced one Increase of $ 230 million and double list in the US and Brazil. The company has raised $ 1 billion to date.
UltravioletThe Indian start -up of the electric motorcycle raised $ 21 million in a round of all shares, led by the corporate arm of Japanese electronic Giant TDK Corporation. Existing investors of Ultraviolette Zoho Corporation and Lingotto (previously exor capital) also participated.
Via have filed the papers of S-1 on his way to the iPO. The Transit software company has not yet specified the number of shares to be offered or the price range. This fell exactly as I sent this newsletter, so I haven’t read the whole document yet. However, some figures worth noting: Company’s revenue increased by 35% to $ 337 million from 2023 to 2024. And the compensation package of Managing Director Daniel Ramot, which includes grants, is $ 9.5 million. According to footnotes, his company issues an additional grant package for 2025 and a cash bonus program.
WERIDEChinese autonomous vehicle company, has secured an investment from Grab. Companies did not reveal the amount of investment. Weride said the funds would help to develop and commercialize Romaxia and Level 4 buses in Southeast Asia.
Notable reading and other tidbits
Fox Will no longer build electrical tractors to start California Tractor monarch Following the Taiwan technological giant who recently sold the Ohio plant in Softbank. History Lesson: Foxconn had planned to set up an electric vehicle manufacturing operation at the factory and Monarch was one of the four companies he worked with. The other three (Lordstown Motors, Fisker and Endiev) all go bankrupt.
Some high -profile redhead executives are in progress. Self-guiding truck manufacturer Tower hired Uber Freight Managing Director Lior Ron (who has a long and interesting story in the world AV) as a leader. Rebecca TinucciHe previously spent six years of building the Tesla charge network, took over as head of Uber Freight. Ron will remain as president of Uber Freight.
A spending freezing to National Vehicles Infrastructure The program has been thawed after months of uncertainty. Trump administration has finally issued new instructions that states can use to exceed $ 5 billion on funding for electric vehicle billing infrastructure after spending months withholding of money.
RadioA popular ride platform in India, tests the Food Delivery Service in Bangalore in a challenge for market leaders Puffy and Zomato.
How many turns can a company make in its lifetime? Boxlarge It tests the limits of this question. The company, which started as an electric scooter rental service, closed the journey service in New York. Revel will focus on the budding EV charging business.
A little more about “Tesla dojo is dead” I wrote for last week. Elon Musk confirmed that Tesla have The team working on DOJO AI Training Training, just a few weeks after its announcement that it is expected to have the second Tesla cluster operating “on a scale” in 2026. Tesla shifts its focus on the AI5 and AI6 chips, which are manufactured by TSMC and TSMC. Note: The Tesla plant in New York’s Buffalo is supposed to have been the home of the DOJO supercomputer and the company was committed to investing $ 500 million at the factory for five years to bring Dojo there.
Riding in a Diameter Robotaxi is a modern, even futuristic experience for customers. With one exception: music. Journalist Max Zeff wrote about why Waymo’s musical upgrade matters.
Another thing…
The automaticThe other Podcast I Co-Host (I’m also on TechCrunch Equity) that focuses on the future of transport had, had, had, Another episode That I think you will be interested in listening. This time, interview Neuroture Co -founder and president Dave Ferguson.
