The Station is your hub for moving people and packages between A and B. The Station is back with Rebecca Bellan in the driving seat for the next two weeks, as I pack up my laptop and go on some adventures.
Jagmeet Sing reports
In May, India's government revised its incentive program, reducing the subsidies from $183 for each kWh of battery (upto 40% of vehicle cost) to $122 for each kWh of capacity (upto 15% of vehicle cost). The changes to the program caused a sudden disruption in sales. Sales dropped by more than 56% in June. It was the lowest month for sales since about a year.
It could affect consumers but also the industry, causing consolidation and possibly even the exit of certain players. Government subsidies can help people purchase greener alternatives and boost new industries.
Other news. . .
You can find a product that suits your needs, whether you are a commuter, a delivery person, a parent, an older adult, a bargain-hunter, or a mountain biking enthusiast. Many of these companies have sales going on right now, so take advantage and get some amazing midsummer bargains!
Get e-bikes that could cause fires off the street.
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Riders should not ride if they are under the age of 18.
Deal of the Week
Deal of the Week? More like no deal.
What would have been its 2nd SPAC deal, with Kensington Capital Acquisition Corp. In April 2023 the company announced a de-SPAC plan (it made its public debut via SPAC in 2021 with CIIG Merger Corp.), but it seems that this plan for liquidity is no longer in place.
We were a little surprised. Wejo was the world's first double SPAC. This means a company went public through a SPAC merge and then made a secondary SPAC merger to raise more capital.
It is not known what caused the death of Arrival SPAC 2. Was it the terms of the agreement? Arrival or Kensington?
I was also interested in other deals. . .
Avellinia Capital has provided a EUR25million asset-backed facility to, a German subscription car company operating in the U.S. This allows the company to use future capital for growth initiatives rather than fleet financing.
Absa Corporate and Investment Banking raised $8 million for a fintech startup in Africa that focuses on mobility. The company has raised $28 million in total to date.
, a Singaporean startup that recycles lithium-ion batteries, raised $3.7M in a seed funding round led by SGInnovate. ComfortDelGro Ventures and Shift4Good were also part of the round, as well as Paragon Ventures I, ComfortDelGro Ventures and other angel investors.
To raise capital, it must convince enough shareholders to vote for a proposal allowing the company to issue additional shares. A new law could soon allow the company to bypass the requirement of securing more than 50% all outstanding shares. The California Transportation Commission also granted the company $41.9 million to build six heavy duty hydrogen refueling station in Southern California.
The financial terms of the deal were not disclosed.
, a cloud-based traffic control system provider to local and state governments, raised an amount that was not disclosed in a seed funding round led by GOVO Venture Partners. DeepWork Capital and Florida Opportunity Fund were also involved, as well as Techstars, venVelo, and Techstars.
Other tidbits and notable reads
The prank is done to protest the vehicles that many accuse of malfunctioning and disrupting traffic flow, emergency vehicles and public transit. This viral prank was done to protest vehicles that are accused of being malfunctioning, disrupting traffic and causing problems for emergency vehicles, public transportation and other vehicles.
An autonomous vehicle program in Austin, using a fleet consisting of 10 ID Buzz all-electric vehicles with embedded sensors.
The United Arab Emirates has issued the first national autonomous driving license to test and deploy robotaxis, vans and other autonomous vehicles.
Chargers and batteries for electric vehicles
This poses a serious risk to drivers and the grid.
"Designed for those days on the beach along Italy's coast." The Italian coast is totally, completely, what you'd expect.
In the second quarter, production exceeded expectations. The EV startup produced 1,022 Oceans when it expected to produce 1,400-1,700. The company blamed the shortage of parts from its sub-suppliers.
By early 2031, the company aims to increase annual EV power to 200 GWh.
Michigan is building a charging infrastructure for electric vehicles off-road.
In Europe. In Germany, the first 300 cars will be on the roads. A threefold increase in second-quarter deliveries -- 12,640 units, to be precise -- sent the shares soaring 16%. Rivian has said that it is on track to meet its previous goal of 50,000 units for this year.
Every EV Fast-Charging Network
New York City will block minimum wage standards for gig workers. They claim regulators used incorrect data to calculate the new compensation rules. Earlier this month,
This is due to the state regulations that govern who can work for ride-hailing applications.
Business to upgrade rail infrastructure. Natasha Lomas reported that its mission is to use AI and IoT for the most sustainable mass transportation option.
Tesla will get its own section in the next few weeks. Here we go.
Tesla Bros are freaking about it.
In the second quarter, this is an increase of 10% year-over-year. Investors are looking for healthy margins on earnings day, as many of Tesla’s sales were driven by price reductions.
Tesla is now trying to calm down the waters. "And compete fairly on the car market in your country."
The program offers $500 cash back for buyers of the Model 3 and Model Y. Tesla has its largest markets in the U.S., Canada, Mexico, Hong Kong, Singapore, and you guessed it: China. Also Germany, France Canada, Mexico Hong Kong, Singapore, and the United States.
To adopt NACS and join a few other automakers such as GM, Ford Volvo, Polestar. Mercedes EVs can access Tesla supercharging stations as early as 2024. The automaker plans to expand their own charging network with over 2,500 chargers across North America.
If they want federal funding for a state electrification program, they will need to use both the CCS and's plug. Kentucky has been the first state to implement it. Texas and Washington have also considered it.
Beep, beep. TechCrunch Disrupt, which takes place in San Francisco from September 19-21, will give you the inside scoop about the future of mobility. Hear from the leading mobility entrepreneurs about what it takes for them to innovate and build a sustainable future. Learn more