Canoo, EV Market, and Trump's Stance - Latest News

TechCrunch Mobility: Updates on the Future of Transportation

Welcome to TechCrunch Mobility, your primary source for the latest news and perspectives on the evolving landscape of transportation. Free subscription is available – simply follow the TechCrunch Mobility link!

Initial Actions of the New Administration

The new Trump administration has been remarkably active in its first few days, issuing numerous executive orders, making official statements, and granting pardons. Several of these actions directly impact the future of transportation.

Understanding Executive Orders

It’s important to understand the nature of executive orders. These directives, issued by the president, can sometimes be largely symbolic or even face legal challenges based on constitutional grounds. However, they provide valuable insight into the administration’s key priorities.

Stance on Electric Vehicle Incentives

President Trump has demonstrated a clear opposition to incentives supporting electric vehicles (EVs) of any description.

Pausing Funding for EV Infrastructure

Through a series of executive orders signed during the initial days of his second term, President Trump directed all federal agencies to halt the distribution of funds allocated by both the Inflation Reduction Act and the Bipartisan Infrastructure Law.

Specifically, funding earmarked for EV charging infrastructure – including programs like the National Electric Vehicle Infrastructure Formula Program and the Charging and Fueling Infrastructure Grant Program – was targeted. Notably, Tesla, under the leadership of Elon Musk, a supporter of Trump, has previously received benefits from these programs.

Ongoing Monitoring and Reporting

We will continue to closely monitor these developments and provide comprehensive reporting on the potential impacts, identifying the companies most likely to be affected by these changes.

Potential Risks for Companies

• Funding delays for EV infrastructure projects.
• Changes in eligibility criteria for grants.
• Uncertainty surrounding long-term EV policy.

These factors could present significant challenges for businesses operating in the electric vehicle sector.

Canoo's Demise

Canoo, a company once brimming with potential, has unfortunately filed for Chapter 7 bankruptcy. Consequently, all operations have been halted. The unfolding bankruptcy proceedings will be closely monitored.

An often-overlooked detail surrounds the company’s recent struggles. Prior to the bankruptcy filing, Canoo closed its Los Angeles headquarters.

Sources indicate that in the months leading up to the bankruptcy declaration, a number of employees were transferred from California to facilities in Oklahoma and Texas. This relocation ultimately resulted in job losses for those individuals in their new locations.

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Recent Investment and Loan Agreements

Significant financial agreements were recently concluded, demonstrating continued activity within the electric vehicle and related technology sectors.

A substantial loan agreement, totaling $6.6 billion, was finalized between Rivian and the Department of Energy (DOE). This funding, initially announced in November, was secured shortly before the presidential inauguration. The capital will be allocated towards the construction of a new manufacturing facility located east of Atlanta, Georgia, with building work slated to commence in 2026.

Production of the R2 SUV model is currently projected to begin in 2028 at this new site.

The loan originates from the Advanced Technology Vehicles Manufacturing (ATVM) program, which operates under the DOE’s Loan Programs Office. This program is notably recognized for providing a crucial $465 million loan to Tesla in 2009.

Additional Funding Rounds

Beyond the Rivian loan, several other companies have secured notable investments:

• Ati Motors, an Indian startup specializing in autonomous robotics, successfully raised $20 million in a Series B funding round. Walden Catalyst Ventures and NGP Capital co-led the investment, with participation from existing investors like True Ventures and Exfinity Venture Partners.
• Lyteflo, a Canadian company focused on EV software sales, obtained $3 million in seed funding. Diagram Ventures spearheaded this round, with contributions from Whitecap Venture Partners and Amplify Capital.
• Metafuels, a Swiss startup developing sustainable aviation fuel, secured $9 million in funding led by Celsius Industries. New investors included RockCreek and Fortescue Ventures, alongside existing backers Energy Impact Partners and Contrarian Ventures.
• Moment Energy, dedicated to repurposing EV batteries, raised $15 million in a Series A round. Amazon Climate Pledge Fund and Voyager Ventures co-led the investment, attracting participation from a diverse group of investors.
• Netradyne, a provider of AI-powered dash cams for fleet management, secured $90 million in a Series D round, achieving a pre-money valuation of $1.35 billion. Point72 Private Investments led the round, with contributions from Qualcomm Ventures and Pavilion Capital.
• Voltpost, innovating lamppost EV charging solutions, received $2.6 million in grant funding. This funding, awarded by the U.S. Joint Office of Energy and the Communities Taking Charge Accelerator, will support the deployment of 75 chargers across New Jersey, New York, and Connecticut.

These recent financial activities highlight ongoing investment and development within the evolving landscape of electric vehicles and supporting technologies.

Recent Developments and Industry Updates

Advanced Driver-Assistance Systems (ADAS)

The National Highway Traffic Safety Administration’s Office of Defects Investigation has escalated its scrutiny of Ford’s BlueCruise system. This upgrade is a necessary precursor to potentially issuing a recall notice.

The investigation centers around the hands-free functionality of this advanced driver-assistance technology.

Autonomous Vehicle Technology

Torc Robotics, a subsidiary of Daimler Truck AG, is consolidating its operations. The company is closing facilities in Albuquerque and Stuttgart.

Expansion efforts are focused on a new autonomous truck hub in the Dallas-Forth Worth area, specifically within the Hillwood AllianceTexas development. This hub will support testing, pilot programs with freight customers, and preparations for commercial deployment, anticipated in 2027.

Electric Vehicles, Charging Infrastructure, and Battery Technology

UBCO, an electric motorcycle startup based in New Zealand, has entered receivership. Operations have ceased due to insufficient funding.

This development follows a recent agreement with Australia Post to supply a fleet of customized electric motorbikes.

In-Car Technology and Data Privacy

The Federal Trade Commission has proposed an order to restrict GM and its OnStar system. The proposed order would prohibit the sale of driver data to consumer reporting agencies for a period of five years.

The action stems from allegations that GM collected and sold precise geolocation data and driving behavior information without proper consumer notification or consent.

Security researchers discovered vulnerabilities allowing remote access to millions of Subaru vehicles. These flaws enabled unauthorized unlocking, starting, and tracking, but have since been addressed by the automaker.

Space Exploration and Future Flight Technologies

While not strictly transportation, space-related news occasionally intersects with the industry. The Federal Aviation Administration temporarily slowed and rerouted air traffic near Puerto Rico.

This action was taken due to falling debris from SpaceX’s Starship following a test flight explosion last Thursday.

Amazon has temporarily suspended testing of its delivery drones. This pause followed an incident involving a crash of two drone models.

Recent Automotive Insights

During coverage of CES 2025 in Las Vegas, a social media update from Lucid caught my attention. The electric vehicle manufacturer was present, providing demonstration rides in its brand new Lucid Gravity SUV.

Approximately one hour was spent evaluating the Lucid Gravity SUV, which commenced production just last month. A comprehensive review will be published shortly, but a preliminary assessment is available now. Lucid has demonstrably excelled in the vehicle’s interior design.

The cabin is both spacious and opulent, featuring numerous details indicative of Lucid’s ongoing development. The company appears to be demonstrating significant growth and refinement.

An initial observation proved somewhat unexpected. From an external perspective, the vehicle doesn’t immediately present as a traditional SUV, nor does it convey a sense of substantial size.

However, upon entering the third-row EV, the interior volume is immediately apparent. Further details and analysis will be provided in the upcoming full review.

What is the purpose of “This week’s wheels”? It serves as an opportunity to explore various transportation options currently undergoing evaluation. This includes electric and hybrid automobiles, e-bikes, and experiences with autonomous vehicle technology.