Boom Supersonic & Elon Musk's Self-Driving Update

TechCrunch Mobility: Latest Updates on the Future of Transportation

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Tesla's Upcoming Ride-Hailing Service

Elon Musk, CEO of Tesla, recently announced plans to introduce a paid ride-hailing service utilizing a fleet of autonomous vehicles in Austin. The anticipated launch date is set for June, representing a timeframe of five months from the initial announcement.

This announcement was made during Tesla’s earnings call for the fourth quarter and the entirety of the previous year. Details regarding the service remain scarce at this time.

Limited Details and Potential Motivations

Currently, very few specifics have been released concerning the operational parameters of this new service, including the geographical limitations that will be in place upon its initial release. It is possible that the intention behind this limited disclosure is to generate anticipation and divert attention from the company’s relatively stable automotive sales performance.

Further Insights from the Tesla Earnings Report

A review of our live blog covering the Tesla earnings report and subsequent call is highly recommended. The report contains numerous valuable insights that may have been overlooked, covering topics such as advancements in bitcoin and lithium refining, the status of the Dojo project, and Tesla’s approach to training its Full Self-Drive (FSD) system in China.

Hardware 3 and Full Self-Drive

Furthermore, Elon Musk acknowledged that all vehicles equipped with Hardware 3 will require an upgrade to fully utilize the future functionalities of the Full Self-Drive software – which is currently classified as an advanced driver-assistance system.

Here’s a summary of key takeaways:

• Tesla plans a driverless ride-hailing service in Austin by June.
• Details about the service’s operational boundaries are currently unavailable.
• The announcement may aim to build excitement and shift focus from automotive sales.
• Significant updates were discussed regarding bitcoin, lithium, Dojo, and FSD training.
• Hardware 3 vehicles will need upgrades for complete FSD functionality.

Cruise Restructuring and Employee Retention

Information obtained from sources within Cruise indicates ongoing changes following the suspension of its robotaxi development program. This follows a recent report detailing potential savings of $1 billion for GM as a result of this shutdown.

Retention Offers Extended

In mid-January, Cruise management initiated the process of offering retention incentives to employees. These offers were primarily directed towards engineers within the organization.

According to an email viewed by TechCrunch, CEO Marc Whitten communicated that the first round of notifications regarding retained positions had been completed. He emphasized that these plans are contingent upon approval from the Cruise board of directors.

Ongoing Uncertainty

Whitten requested continued patience from employees as senior leadership finalizes the next steps. A decision from the Cruise board is anticipated to provide further clarity.

It’s important to note that employees who have not yet received a notification are not automatically considered at risk of job loss.

Board Meeting Scheduled

Sources suggest the Cruise board is scheduled to convene in early February. The aim of this meeting is to formulate a plan for the numerous employees currently in a state of uncertainty.

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Secure and encrypted communication channels are also available; instructions for contacting TechCrunch through these methods can be found online.

Recent Developments in the Mobility Sector

Moove, the African mobility fintech company supported by Uber, is rapidly gaining prominence and deserves attention. The company has experienced substantial expansion within a short timeframe. Starting with a fleet of 76 vehicles in Lagos, Nigeria in 2020, Moove now manages 36,000 cars across 19 cities spanning six continents.

Recall that Moove previously announced a collaborative effort with Waymo to facilitate operations of driverless vehicle fleets in Phoenix and Miami.

Acquisition of Kovi

The company, which specializes in providing vehicle financing solutions for drivers working with ride-hailing and delivery applications globally, is now growing through strategic acquisitions. Moove has announced the acquisition of Kovi, a Brazilian urban mobility service provider.

While the financial details of the transaction remain confidential, Moove has confirmed that it was completed entirely through a share exchange, resulting in Kovi becoming a fully owned subsidiary of Moove. Ladi Delano, Moove’s co-founder and co-CEO, informed TechCrunch that this acquisition increases the fintech’s yearly revenue to $275 million.

Other Notable Industry News

Angell, a French startup focused on smart electric bicycles, is reportedly facing potential bankruptcy.

Bonsai Robotics, a California-based startup developing autonomous agricultural solutions, successfully secured $15 million in Series A funding. Bison Ventures spearheaded the investment round, with additional participation from Cibus Capital, Acre Venture Partners, Congruent Ventures, Fall Line Capital, E14 Fund, SNR, and Serra Ventures.

Funding and Expansion

TravelPerk, a business travel management platform headquartered in Barcelona, has raised $200 million, achieving a valuation of $2.7 billion. This represents nearly double its previous valuation of $1.4 billion from the prior funding round. Atomico, a European venture capital firm, led the Series E round, with contributions from EQT Growth, Noteus Partners, Kinnevik, General Catalyst, and other existing investors.

Alongside this funding, TravelPerk also announced the acquisition of Swiss company Yokoy, the terms of which were not disclosed.

Technological Advancements

UVeye, an Israeli startup pioneering vision-based vehicle inspection technology – often described as an “MRI for cars” – has raised $191 million in an extension of its 2023 Series D funding round. Toyota’s Woven Capital growth fund led the investment. The round included $41 million in equity financing, with participation from UMC Capital and MyBerg, as well as a $150 million debt facility provided by Trinity Capital.

Profitability Achieved

Voi, a leading Swedish provider of shared micromobility services, has reported its first profitable year in 2024, based on preliminary, unaudited results.

Recent Developments in Automotive and Aerospace Technology

Advancements in Autonomous Vehicle Technology

GM anticipates annual savings of up to $1 billion through the cessation of its Cruise robotaxi program’s development.

Kodiak Robotics has deployed two autonomous trucks to Atlas Energy Solutions. These vehicles will operate without drivers in the challenging terrain of the Permian Basin, representing the company’s initial commercial deployment.

Waymo experienced a noteworthy week. A security researcher discovered a hidden feature within the Waymo app. This allowed for custom character displays on the robotaxi’s exterior screen.

Further investigation by the same researcher revealed a new tipping function during the app’s analysis. Waymo is also expanding its testing to include driverless vehicles on Los Angeles freeways, initially limited to employee passengers.

The company intends to introduce its robotaxis, operating in manual mode, to ten additional U.S. cities this year. Simultaneously, Waymo has increased its lobbying efforts in San Francisco, with a key objective being access to the airport.

Updates on Electric Vehicles, Charging Infrastructure, and Battery Technology

Owners of the Lucid Gravity SUV will soon have access to the Tesla Supercharger network, beginning this Friday. A comprehensive overview of Tesla Supercharger network access for various automakers is also available.

Tesla is launching a refreshed Model Y SUV in the U.S., Canada, and Mexico in March. The starting price for this updated model is just under $60,000.

Recent reports detailed lawsuits filed against Rivian alleging harassment of employees by executives. Updates on these cases include the movement of one lawsuit, filed by former clay sculptor Nathan Facciolla against Rivian and chief designer Jeff Hammoud, to arbitration.

Another case, brought by former color, material, and finish team director Elizabeth Curran against Rivian and Hammoud, is currently scheduled for a potential trial in September 2025. However, Rivian is seeking a preliminary ruling from the judge.

Innovations in In-Car Technology

Apple has acknowledged delays in the release of the next-generation CarPlay system, but confirms that development is ongoing.

Progress in Space Exploration and the Future of Flight

Amazon is extending its drone delivery service to the United Kingdom, starting with a pilot program in Darlington, located in northern England.

Boom Supersonic achieved a significant milestone by successfully reaching supersonic speeds. The company’s XB-1 demonstrator aircraft exceeded Mach 1 and maintained supersonic flight for approximately four minutes over the Mojave Desert in California.

Recent Vehicle Evaluations

No new vehicle assessments were conducted this week. However, a detailed report will be featured in the upcoming newsletter.

The "This Week’s Wheels" segment provides insights into the various transportation methods currently undergoing evaluation.

Understanding "This Week’s Wheels"

This feature offers an opportunity to discover the products we are rigorously testing.

These evaluations encompass a wide range of options, including electric cars, hybrid vehicles, e-bikes, and experiences with autonomous vehicle technology.

• We aim to provide comprehensive reviews.
• Our tests cover performance and usability.
• The goal is to inform our readers about the latest advancements.

Stay tuned for the next newsletter to receive a complete write-up of our latest findings.