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Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B.
The week capped off with Tesla AI Day, a recruitment/roadshow that ended up lasting three hours. Yeah.
What did we learn and see? Tesla has made progress on its Tesla bot, also called Optimus. It is no longer a human dressed in a robot suit, but an actual robot. Will it make Boston Dynamics or Serve Robotics shake in their boots? Probably not. But it was a robot that moved, albeit briefly.
A few takeaways:
- The event was somehow simultaneously very dense and lacking basic details that would help establish baselines and progress.
- Tesla made a point to put employees from the AI and hardware teams on stage (this is unusual for the typical Elon-centric reveals and events).
- There was an incredible emphasis on how the bot was equipped with components and tech used in Tesla vehicles, notably Autopilot. There is an efficiency that comes from shared parts and technology, but it also can come at great risk. Especially when said tech — ahem Autopilot — is controversial and coming under increased scrutiny by regulators.
- Musk was asked if Tesla was still a sustainable energy company and he responded, “I think the mission effectively does somewhat broaden with the advent of Optimus to you know, I don’t know, making the future awesome.” He also said that he believed that Tesla could provide a meaningful contribution to artificial general intelligence.
- Tesla employees provided other updates, including its auto-labeling technology and the Dojo supercomputer. While Tesla employees explained these, Musk was off-stage tweeting: “Naturally, there will be a catgirl version of our Optimus.”
You can always email me at [email protected] to share thoughts, criticisms, opinions or tips. You also can send a direct message to @kirstenkorosec.
Micromobbin’
There wasn’t too much micromobility news this week, so we’ll keep this brief. Here’s what you need to know in the world of tiny electric vehicles.
Climate change is killing bees, and that’s a big problem, because bees kind of help regulate the effects of climate change. What’s this got to do with micromobility? Well, Cake launched a limited edition Kalk model bike called Flower Power that’s available in seven color options. The company said that 5% of profits from the bikes will be donated to the World Bee Project, which is dedicated to saving the planet’s bee population.
Delfast unveiled a smaller electric moped that it’s calling the Delfast California, which has a 750W motor and can reach a max speed of 28 mph, making it slightly less intense than Delfast’s more badass bike the Top 3.0.
Pure Electric is teasing a folding scooter that is expected to launch in early October. Is that a fat tire we detect, or just a play of the light?
You’re reading an abbreviated version of micromobbin’. Subscribe for free to the newsletter and you’ll get a lot more.
Deal of the week
When news broke that Chinese carmaker Geely Holding Group acquired a 7.6% share of British luxury automaker Aston Martin Lagonda Global Holdings, one of my co-workers (and an international reporter who covers China) exclaimed: Geely owns everyone!
It sure seems like it.
Geely was aiming to own all of Aston Martin. Instead, it settled for a small stake. Geely didn’t even get a board seat out of the deal. But no matter, Geely has squeezed a lot out of seemingly empty juice vesicles before.
Geely, which owns Lotus and is the largest shareholder of Polestar and Volvo Cars, took a 10% stake valued at $9 billion in Mercedes-Benz parent Daimler in 2018. Geely didn’t have a board seat either, but managed to exert its influence over the company, including a joint venture with the German automaker that gave it partial control of the Smart car brand.
Aston Martin also announced that it raised $732 million from investors that included Mercedes-Benz and Saudi’s Public Investment Fund participating. Yew Tree Consortium holds 19% of Aston Martin following the raise. The Public Investment Fund has become a new anchor shareholder with an 18.7% stake in the company.
Other deals that got my attention this week …
Faraday Future, the struggling EV SPAC, secured up to $100 million in funding through $40 million in convertible notes and warrant exercise payments and up to $60 million in convertible notes from Hong Kong holding company Senyun International.
Gogoro signed a $345 million five-year credit facility agreement in order to increase liquidity amid uncertain economic conditions. The loan comes from a group of 10 syndicated banks led by Mega International Commercial Bank Co., according to a regulatory filing.
Harley-Davidson’s electric motorcycle division spin-off, LiveWire, raised less than planned and was valued below expectations when it went public this week through a SPAC combination. Shocking! LiveWire brought in $295 million in net proceeds, which is short of the $545 million anticipated when the deal was announced in December.
Want more deals? A whole list of them, including info on Aptiv, TerraWatt and TruckSmarter, were in the subscription version this week. Subscribe for free here.
Notable reads and other tidbits
Autonomous vehicles
Argo AI’s robotaxis are now operating on the Lyft network in Austin, Texas. This is a public service and the second city in which Lyft and Argo are operating a commercial robotaxi operation after Miami, which launched in December.
Aurora announced its 4th-generation Driver, which can now detect and maneuver around a variety of objects and debris on the road and detect repainted lines in complex construction zones.
In a series of simulated tests, Waymo’s driver avoided crashes better than a virtual representation of a hyper-attentive driver.
Electric vehicles, batteries & charging
Arrival produced its first battery-electric van at the company’s Microfactory in Bicester, U.K., which uses autonomous mobile robots instead of a traditional assembly line. The remaining vans built this year will be earmarked for testing, validation and quality control, rather than customer delivery.
ChargerHelp has partnered with Tesla to improve reliability and consumer confidence in charging access.
New York follows California and mandates that all new passenger cars, pickup trucks and SUVs sold in New York state must be zero emissions by 2035.
People
Airbnb co-founder and billionaire Joe Gebbia has joined Tesla’s board as an independent director.
Charly Mwangi, the former executive vice president of manufacturing at Rivian, who previously worked at Tesla, is now a partner at Eclipse Ventures.
Lyft has canceled job interviews and issued a hiring freeze in the U.S., according to anonymous professional network Blind.
Treepz CEO Onyeka Akumah talks to TechCrunch’s Rebecca Bellan about how to succeed in transportation in the latest edition of our founder’s Q&A series.
Want to read more of the notable reads plus other bits of news from the week? The Station’s weekly emailed newsletter has a lot more on EVs and AVs, future of flight, insider info and more. Click here and then check “The Station” to receive the full edition of the newsletter every weekend in your inbox.
Geely’s Europe expansion continues, Argo robotaxis on the Lyft app and Tesla AI Day takeaways by Kirsten Korosec originally published on TechCrunch
