CES 2024 or bust, Superpedestrian e-scooters hit the public sale block and Fisker struggles to satisfy gross sales objectives


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Hey-o! Howdy readers and welcome again to The Station, your weekly e-newsletter 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 Huge Three U.S. automakers (Ford, GM and Stellantis) received’t have large splashy shows and bulletins as in previous years. Nonetheless, there might be loads of automotive, and extra broadly, transportation firms and startups in attendance. I might be on the hunt all week for intriguing and revolutionary tech. Want me luck. ;D

Honda, Kia and Vinfast are exhibiting off EVs, Hyundai’s Supernal will reveal an electrical vertical take off and touchdown car and Mercedes might be specializing in software program and the in-cabin expertise. AI is a theme that’s popping up all over the place and maybe stunning to some, hydrogen gas may also have a presence.

Keep tuned for our protection this week.

Need to attain out with a tip, remark or criticism? E mail Kirsten at kirsten.korosec@techcrunch.com. Reminder that you may drop us a notice at ideas@techcrunch.com. When you want to stay nameless, click on right here to contact us, which incorporates SecureDrop (directions right here) and numerous encrypted messaging apps.

Deal of the week

money the station

It’s been a bit quiet the previous few weeks, however there have been a smattering of offers price sharing.

One in all notice 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 instructed 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 accumulate,” Yoon mentioned, including that it has not determined what number of acquisitions it is going to full.

Different offers that received 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 provides auto loans for electrical two-wheelers and three-wheelers raised $14 million in a Collection B spherical led by Omidyar Community, the philanthropic funding agency from eBay founder Pierre Omidyar.

Salt Creek Capital acquired Vantage Car Worldwide, a California-based maker of low-speed utility autos.

Swap Vitality, an Indonesian EV battery startup, raised $22 million in a Collection 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 autos

Aurora and Continental handed the primary main hurdle in a $300 million challenge to provide 1000’s of autonomous {hardware} kits for self-driving vehicles.

China’s robotaxi business is going through 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 autos, charging & batteries

2024 might be an important yr 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 objectives, 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 objectives for 2023, offering some constructive information for the EV maker.

Superpedestrian’s electrical scooters — greater than 20,000 of them — might 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 report variety of electrical autos in This autumn to assist it edge out its targets for the yr, thanks partially to the recognition of its most cost-effective car.

The U.S. authorities revealed the listing of EVs that qualify for the total federal tax credit score beneath the newer, extra stringent tips. Right here’s the qualifying EVs listing 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 neglected tech that saved cities shifting in 2023.

Uber has quietly been testing a versatile pricing service in additional than a dozen cities in India.



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