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The year in transportation started with a couple of bankruptcies — Canoo and Nikola — and now ends with two more. Rad Power Bikes is coming to an end — or at least a bankruptcy. The electric bike company filed for Chapter 11 bankruptcy protection, weeks after warning employees it could shut down without new financing. A spokesperson told TechCrunch that the company will continue to operate while the bankruptcy case progresses and that it wants to sell the business within 45-60 days.
And then there is problematic lidar maker Illuminatedwhich also filed for bankruptcy this week. Luminar’s bankruptcy doesn’t seem like a let’s-help-us-live-another-day situation.
The Luminar filing, which comes after months of layoffs, executive departures and a legal battle with its biggest customer, Volvo, notes that the company plans to sell the business. It has already entered into an agreement to sell its semiconductor subsidiary. While the company will continue to operate during the bankruptcy process to “minimize disruption” to its suppliers and customers, Luminar will eventually cease to exist once it is completed, a senior reporter Sean O’Kane was mentioned. Want to learn more? I recommend you read O’Kane’s article looking at how Luminar’s doomed deal with Volvo helped bankrupt the company.
Even though the year was marked by some setbacks, that doesn’t mean 2025 wasn’t full of innovation and growth. The emerging robotaxi industry has indeed arose. With that, I’ve noticed new kinds of autonomous vehicle-adjacent companies emerging, and I expect this to become a trend in 2026.
The scale of robotics was largely driven by Waymo’s albeit at a rapid rate of growth Zoox and Tesla they also started setting up shop. This next year could be when we see these companies really square off in the same markets. it will also be the year companies face even more scrutiny about safety and how robotaxis fits into everyday life.
Meanwhile, EVs have struggled this year and automakers have struggled to adapt.
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For example, Passage spins again. The company said this week it is ending production of the all-electric F-150 Lightning as part of a broader corporate shift that will put more emphasis on hybrids and natural gas vehicles. As part of its shift, Ford is turning to its increasingly popular “extended range electric vehicle” version of the truck, which adds a gas generator that can recharge the battery to power the engines for more than 700 miles. It’s also getting into the energy storage business — it’s got to do something with all those batteries — and says it’s still committed to producing a mid-size electric truck due in 2027.
But hey, the EV isn’t dead. And the promise of smaller, more affordable ones looms large with its imminent launch of Rivian R2 and Slate Auto’s electric truck.
Cleaning note: This is the last newsletter of the year. The next time you hear from me, I’ll be in Las Vegas for the annual technology trade show known as the CES. Transition; Spread.
To everyone, thank you for reading, taking the polls, and emailing me (yes, even the critical ones). Your voice matters and I love hearing from you. See you in 2026!
A little bird
India-based journalist Jagmeet Singh always seems to have birds chirping in his ear about startup deals. The latest is Spinnythe Indian online marketplace for used cars.
Spinny is raising about $160 million, capital that will be used to acquire auto services startup GoMechanic. TechCrunch has learned that the Series G round includes a mix of primary and secondary transactions and will value the 10-year-old startup at around $1.8 billion post-money.
Do you have a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or my Signal at kkorosec.07 or email Sean O’Kane at sean.okane@techcrunch.com.
Offers!
Boatman and GetMyBoattwo companies that operate Airbnb-style business models for boats, agreed to merge.
Cowboy it’s back — sort of. The e-bike startup in Brussels has has been acquired by ReBirth Group Holding, a company that owns Gitane, Peugeot and Solex. The e-bike startup had its ups and downs, but eventually ran into problems, including a chassis recall. Terms were not disclosed, but it apparently includes 15 million euros ($17.6 million) from existing shareholders.
Nirvana Insurancean insurance technology startup focused on trucks, raised $100 million in a Series D funding round led by Valor Equity Partners. Lightspeed and General Catalyst were also added. Former TC reporter Mary Ann Azevedo had the scoop on the new valuation, which is now $1.5 billion.
Notable reads and other items
Redwood released a new patented Battery collection bin is designed to encourage consumers to recycle batteries. The system, which will be launched in San Francisco, securely stores, packages and tracks hundreds of batteries and devices containing batteries.
Rivian has added branded ‘Universal Hands-Free’ driving via a software update to its second-gen R1 EVs (not sure I’m a fan of that ‘Universal Hands-Free’ term, btw). This upgrade will allow drivers to take their hands off the wheel on 3.5 million miles of roads in the US and Canada (as long as there are visible painted lines). Also, in case you missed it over the weekend, senior reporter Sean O’Kane took us through Rivian’s bet on AI self-driving.
Securing America’s Energy Future has a new CEO. Avery AshSAFE’s Senior Vice President of Government Affairs and Special Initiatives, will become the agency’s next CEO.
Slate Autothe Jeff Bezos-backed electric truck startup said it has racked up more than 150,000 refundable reservations for its low-cost EV, which is expected to go on sale in late 2026.
Sterling Anderson was at work at GM for six months and already there is chatter about him assuming the position of CEO once Mary Barra is retiring. My take: Anderson has big tasks ahead of him, so let’s all take a moment before assuming he’ll take that top spot. president of GM Mark Royce it is also in the wings.
Tesla has removed the human safety monitors from its Austin robotics facility. The robotaxi service is limited with a fleet size number in the tens. Still, it’s a milestone. And for those wondering, the California Department of Motor Vehicles told me this week that Tesla has not applied for a driverless testing permit. The company is only licensed to test autonomous vehicle technology with a human safety operator behind the wheel.
Meanwhile, Tesla faces a difficult situation in California. Here’s the gist: An administrative law judge agreed with the case brought by the California Department of Motor Vehicles and ruled that Tesla engaged in misleading marketing that gave customers a false impression of the capabilities of its Autopilot and Full Self-Driving driver assistance software. The DMV wanted to suspend Tesla’s sales and manufacturing licenses in the state for 30 days as punishment for its action, and a judge agreed.
Oh, but wait. The DMV stayed the order and is giving Tesla 60 days to comply. That gives Tesla two options if it wants to keep those licenses: leave the Autopilot name, or ship the software in its cars that make them autonomous.
One more thing…
Some of you may not know that I am also a co-host Justicea TechCrunch podcast about the business of startups. I generally co-host our Friday show, which offers commentary and analysis on the week’s news.
Every now and then I interview a founder or VC for the Wednesday show. My latest is an interview with Jiten Behlpartner at Eclipse Ventures and former chief development officer at Rivian, who believes we are entering an era of major industrialization in the US — an era where factories are run by AI robots rather than cheap overseas labor. Watch the episode here.
