Welcome to an extended version of TechCrunch Mobility, where we dive into the latest news and insights on the future of transportation. As always, sign up for free to get all the updates delivered straight to your inbox!
Okay, let’s talk about the recent developments at Tesla. Last week, I may have underestimated their efforts to win shareholder approval for relocating the company to Texas and approving Elon Musk’s massive $56 billion pay deal. Tesla has now taken things to another level by offering shareholders the chance to win a factory tour with Elon Musk and chief designer Franz von Holzhausen. Yes, you heard that right. They’re running a sweepstakes-for-votes scheme. Shareholders who vote could win a tour of the Tesla factory in Austin and an invitation to the upcoming annual meeting on June 13.
It makes you wonder, what will they offer next? Dinner with Elon? A free Cybertruck? The stakes are high and with the annual shareholder meeting approaching, we can expect some interesting developments.
Before we dive into the news, I want to let you know that I will be passing the reins over to reporter Rebecca Bellan next week as I take some time off for some rest and relaxation.
In other news, we have received multiple tips and seen social media posts about layoffs at struggling EV startup Fisker. Our sources suggest that hundreds of workers have been laid off, signaling further troubles for the company. Fisker has been facing challenges for months and has already undergone several rounds of layoffs. With this latest cut, the company’s workforce has been reduced to a mere 150 employees from the original count of 1,135 as of April 19.
If you have any tips or news to share with us, feel free to reach out to Kirsten Korosec at [email protected], Sean O’Kane at [email protected], or Rebecca Bellan at [email protected]. You can also find instructions on how to contact us via encrypted messaging apps or SecureDrop.
Now, let’s take a look at some of the latest deals happening in the mobility space.
Orca AI, a London-based startup that claims to have powered the world’s first autonomous commercial ship voyage in congested waters, has raised an impressive $23 million in a funding round led by OCV Partners and MizMaa Ventures. This funding will help Orca AI further develop its technology and expand its presence in the autonomous shipping industry.
Redwood Materials, a battery recycling startup, has secured a deal to recycle EV battery production scrap for Ultium Cells, a joint venture between GM and LG Energy Solution. This partnership will help Ultium Cells manage its battery waste more sustainably and promote the circular economy in the EV industry.
Australian startup Relectrify, which is developing an innovative inverter-free battery, has raised $17 million in a funding round led by One Ventures. The round also saw participation from Toyota Ventures, the Australian Clean Energy Finance Corp., Energy Innovation Capital, GS Futures, Creative Ventures, and NOAB Ventures. This funding will support Relectrify in advancing its battery technology and accelerating its commercialization efforts.
Zypp Electric, an Indian EV fleet startup, has raised $15 million in a Series C funding round, with Japanese oil and energy conglomerate Eneos leading the investment. The founder of Zypp Electric expects the total funding for the round to reach between $35 million and $40 million by the time it closes this summer. This additional capital will enable Zypp Electric to expand its operations and strengthen its position in the Indian EV market.
Now, let’s turn our attention to some notable reads and other interesting tidbits from the mobility industry.
In the autonomous vehicles space, the U.S. National Highway Traffic Safety Administration (NHTSA) has expanded its investigation into Waymo’s autonomous vehicle software. The agency has added nine more incidents to its ongoing probe, highlighting the growing scrutiny around the safety of self-driving technology.
In the electric vehicle realm, Cylib, a Germany-based battery recycling startup, is offering automakers a compelling pitch that could give them an edge over larger competitors in the battery recycling sector. With its innovative approach to battery recycling, Cylib aims to provide automakers with a more sustainable and cost-effective solution for managing end-of-life batteries.
Meanwhile, Lucid Motors, the luxury electric vehicle manufacturer, has announced another round of layoffs, laying off around 400 employees, which accounts for roughly 6% of its workforce. This restructuring comes ahead of the launch of Lucid’s first electric SUV later this year and follows a previous round of layoffs in which 1,300 jobs were cut. These layoffs indicate the challenges faced by EV manufacturers in a highly competitive market.
Onyx Motorbikes, a company that produces electric motorcycles, became the subject of investigation after the sudden death of its owner and CEO. The lack of a succession plan has raised questions about the future of the company and highlights the importance of succession planning in the startup world.
Archer Aviation, a company working on commercializing electric flight, has partnered with ride-hailing and parking company Kakao Mobility to bring electric air taxi flights to South Korea starting in 2026. This partnership aims to accelerate the adoption of electric air taxis and create a new mode of transportation in South Korea.
In the world of in-car tech and apps, Apple and the Paris area transportation authority, Île-de-France Mobilités (IDFM), have rolled out support for transit passes in Apple Wallet. This allows iPhone and Apple Watch users to use their devices as a Navigo pass for public transportation in Paris. The integration between Apple and IDFM has been a result of years of negotiation and comes just in time for the upcoming Olympic Games in Paris.
Concerns about Chinese EV makers have prompted U.S. Rep. Elissa Slotkin to introduce a bill to Congress that would limit or ban the introduction of connected vehicles built by Chinese companies if they are found to pose a threat to national security. This move reflects the growing tensions between the U.S. and China in the tech and automotive sectors.
Lastly, Spotify’s foray into hardware with its Car Thing device was short-lived. The music streaming giant has stopped manufacturing the device as of July 2022 but will continue to support existing owners. However, Spotify recently announced that the Car Thing will stop working after December 9, 2024, leaving owners with limited options for its usage.
Now, let’s shift our focus to This Week’s Wheels, where we take a closer look at the latest transportation products being tested and reviewed.
This week, TC contributor Emme Hall shares her thoughts and first impressions of the 2025 Cadillac Optiq EV. Cadillac has been unveiling a series of EVs since 2022, with the Optiq being the latest addition. Hall describes the Optiq as a visually appealing vehicle that targets younger buyers and aims to revitalize the luxury brand. However, with a crowded market of midsized crossovers, it remains to be seen whether the Optiq can attract enough buyers to make a significant impact.
And that concludes this extended edition of TechCrunch Mobility! Stay tuned for more exciting updates and insights on the future of transportation.
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