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Hey-o! Howdy readers and welcome again to The Station, your weekly publication on all issues transportation. I hope you loved the New Yr! I appreciated a little bit of relaxation and restoration, simply in time for CES 2024.
Yup, I’m in Las Vegas, but once more, for the annual tech commerce present. The Large Three U.S. automakers (Ford, GM and Stellantis) gained’t have huge splashy shows and bulletins as in previous years. Nonetheless, there will probably be loads of automotive, and extra broadly, transportation corporations and startups in attendance. I will probably be on the hunt all week for intriguing and progressive tech. Want me luck. ;D
Honda, Kia and Vinfast are displaying off EVs, Hyundai’s Supernal will reveal an electrical vertical take off and touchdown car and Mercedes will probably be specializing in software program and the in-cabin expertise. AI is a theme that’s popping up in every single place and maybe shocking to some, hydrogen gas can even have a presence.
Keep tuned for our protection this week.
Wish to attain out with a tip, remark or grievance? Electronic mail Kirsten at kirsten.korosec@techcrunch.com. Reminder that you could drop us a observe at suggestions@techcrunch.com. When you want to stay nameless, click on right here to contact us, which incorporates SecureDrop (directions right here) and varied encrypted messaging apps.
Deal of the week
It’s been a bit quiet the previous few weeks, however there have been a smattering of offers value sharing.
One among observe is Gbike, a Seoul-based shared e-scooters and e-bikes operator that’s gearing as much as go public on the Korean inventory market and is reviewing acquisition targets. Founder and CEO Walter Yoon advised TechCrunch that the corporate is in talks for acquisitions within the micromobility business to extend its market share earlier than its deliberate preliminary public providing, aiming for early 2025.
“Particulars haven’t been materialized but, however we’re at present taking a look at round three to 5 targets to amass,” Yoon stated, including that it has not determined what number of acquisitions it can full.
Different offers that bought my consideration …
Bumper, an auto restore financing startup based mostly in London, raised $18 million in a spherical led by AutoTech Ventures. Shell Ventures, InMotion Ventures, Porsche Ventures, and Revo Capital additionally participated. Bumper additionally secured $30 million in debt.
Revfin, an Indian fintech startup that gives auto loans for electrical two-wheelers and three-wheelers raised $14 million in a Sequence B spherical led by Omidyar Community, the philanthropic funding agency from eBay founder Pierre Omidyar.
Salt Creek Capital acquired Vantage Automobile Worldwide, a California-based maker of low-speed utility automobiles.
Swap Power, an Indonesian EV battery startup, raised $22 million in a Sequence A spherical led by Qiming Enterprise Companions. GGV Capital and current investor Ondine Capital additionally participated.
Notable reads and different tidbits
ADAS
Contributor Tim Stevens examined the superior driver help methods in Tesla, BMW, Ford, GM and Mercedes. Right here’s how they stacked up.
Autonomous automobiles
Aurora and Continental handed the primary main hurdle in a $300 million venture to provide hundreds of autonomous {hardware} kits for self-driving vehicles.
China’s robotaxi business is dealing with new headwinds — and a little bit of wariness after watching the drama at Cruise unfold. TC reporter Rita Liao does a deep dive on how these startups are coping.
Nuro struck a take care of safety-focused software program firm Foretellix to assist with digital testing of its automated driving system, in a bid to chop R&D prices.
Electrical automobiles, charging & batteries
2024 will probably be an important 12 months for India, because the nation faces challenges to supply accessible development capital to late-stage startups whereas making an attempt to lure Tesla and different overseas EV producers to enter its home market. Right here’s how the nation will navigate EVs in 2024.
Fisker is struggling to satisfy inside gross sales targets, paperwork present.
Rivian delivered 10% fewer EVs within the fourth quarter, in comparison with the third quarter, leaving traders fearful about softening demand. Rivian did exceed its manufacturing targets for 2023, offering some optimistic information for the EV maker.
Superpedestrian’s electrical scooters — greater than 20,000 of them — will probably be auctioned off later this month, together with different gear from the startup’s U.S. operations, after closing its doorways December 31. Additionally, don’t miss this text from TechCrunch about what Superpedestrian’s demise means for the e-scooter business.
Tesla shipped a document variety of electrical automobiles in This autumn to assist it edge out its targets for the 12 months, thanks partially to the recognition of its least expensive car.
The U.S. authorities revealed the checklist of EVs that qualify for the total federal tax credit score below the newer, extra stringent pointers. Right here’s the qualifying EVs checklist and extra particulars on what drove the change.
VinFast has earmarked an funding of as much as $2 billion to construct a manufacturing unit in India.
Cities
TC reporter Rebecca Bellan turned her consideration to the ignored tech that stored cities transferring in 2023.
Uber has quietly been testing a versatile pricing service in additional than a dozen cities in India.
