Jeff Bezos Invests in EV Startup & Lucid Acquires Nikola Assets - TechCrunch Mobility

TechCrunch Mobility: Updates on the Future of Transportation

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Shifting Tariff Landscape

The topic of tariffs continues to dominate discussions, particularly given the current economic climate. A notable development is the 90-day suspension of "reciprocal" tariffs affecting most nations.

Despite this pause, a 10% baseline tariff remains in effect. Furthermore, tariffs imposed on goods originating from China have been increased to approximately 145% by President Trump.

Impact on Key Companies

Dan Ives, an analyst at Wedbush Securities, has revised downward his price projections for both Apple and Tesla. This adjustment reflects concerns that tariffs will negatively impact the operations of these companies.

These two corporations are not alone in facing potential difficulties. Many U.S. businesses are anticipating challenges and evaluating whether to transfer increased costs to their consumer base.

Relief and Continued Exposure

The temporary reprieve from increased tariffs on imports from Mexico and Canada offers some support to the transportation industry.

However, the sector remains significantly vulnerable, especially companies involved in electric vehicles (EVs) that utilize LFP (lithium iron phosphate) batteries. This vulnerability stems from the substantial tariffs levied on imports from China.

Ongoing Monitoring

We will continue to monitor the tariff situation closely. The full consequences of these policies are expected to unfold over the coming months.

Slate Auto: A New EV Contender

Approximately twelve months prior, an anonymous source provided a lead that initiated an extensive investigation into a discreet electric vehicle startup, Slate Auto. The resulting research uncovered a wealth of information.

Sean O’Kane, a senior reporter, has compiled a comprehensive report detailing the company, its financial backing, and its future plans.

Notably, Jeff Bezos is among the investors supporting Slate Auto. He is joined by other prominent figures such as Mark Walter, the principal owner of the Los Angeles Dodgers and CEO of Guggenheim Partners, and Thomas Tull, a leading investor in Re:Build Manufacturing.

The Genesis and Strategy of Slate Auto

The report delves into the origins of Slate Auto and outlines its unique business approach. Further confirmation has emerged regarding a previously observed prototype, specifically an electric pickup truck representing the company’s initial product offering.

Confidentiality and Contact Information

If you possess information you wish to share, you can reach Kirsten Korosec at kirsten.korosec@techcrunch.com or via Signal at kkorosec.07. Alternatively, contact Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com.

Detailed instructions for secure communication through encrypted messaging applications or SecureDrop are also available.

Recent Developments in the Automotive and Tech Industries

An unexpected acquisition has taken place within the electric vehicle sector. Specifically, Lucid Motors has successfully acquired certain assets from Nikola during its bankruptcy proceedings.

The assets, which include a factory and the lease for Nikola’s Phoenix headquarters, along with specific machinery, equipment, and inventory, were obtained by Lucid for approximately $30 million in a combination of cash and other considerations, as detailed in a recent filing.

Interestingly, Nikola’s founder and former CEO, Trevor Milton – recently pardoned by President Trump following a conviction for securities fraud – also expressed interest in acquiring these assets. However, his proposal was not accepted.

Notable Funding Rounds and Investments

Several other significant financial transactions have recently occurred within the broader mobility technology landscape.

• Ayan Capital, a provider of Sharia-compliant vehicle financing options, secured £25 million ($32.6 million) in funding. This financing was provided by Partners for Growth, an institutional debt provider specializing in Sharia-compliant investments.
• Nowos, a European company focused on the repair and maintenance of lithium-ion batteries, has raised €6 million in a funding round. Shift4Good led the investment, with additional participation from Fair Capital Impact Fund and Goeie Grutten Impact Fund. The company is also currently seeking an additional €3 million in debt financing.
• Nuro, a California-based startup specializing in autonomous vehicles, completed a $106 million Series E funding round. This round represents a down round, reducing Nuro’s valuation to $6 billion, a decrease from the $8.6 billion valuation achieved in its 2021 Series D round.
• Parallel Systems, a company developing autonomous electric freight solutions, secured $38 million in a Series B funding round. Anthos Capital spearheaded the investment, with contributions from Collaborative Fund, Congruent Ventures, and Riot Ventures.

These investments demonstrate continued interest and financial backing for innovative companies operating within the evolving automotive and technology sectors. Nuro’s funding, despite being a down round, still brings its total funding raised to $2.2 billion.

Industry Updates and Key Developments

Advanced Driver-Assistance Systems (ADAS)

Reductions implemented by Elon Musk’s Department of Government Efficiency at the National Highway Traffic Safety Administration have impacted personnel focused on vehicle automation safety in a significant manner.

Nissan is set to integrate automated driving software originating from Wayve to enhance its ADAS capabilities, with implementation planned for the year 2027.

Autonomous Vehicle Technology

Waymo is preparing to leverage data gathered from its robotaxi fleet, including video footage from interior cameras linked to rider identification, for the purpose of training advanced generative AI models. This information comes from a draft of their privacy policy discovered by researcher Jane Manchun Wong.

An incident involving a Waymo robotaxi in Santa Monica resulted in a traffic obstruction near a Chick-fil-A, as the vehicle became immobilized at the drive-through entrance.

Zoox is initiating trials with a limited number of retrofitted vehicles operating on public roads in Los Angeles.

Electric Vehicles, Charging Infrastructure, and Battery Technology

A judicial ruling this week permits Anthony Aquila, the CEO of Canoo, to acquire the assets of the bankrupt EV company.

The political involvement of Elon Musk, which has instigated global Tesla Takedown demonstrations, is demonstrably influencing the company’s sales figures. A substantial increase in listings for used Teslas has been observed.

Conversely, competing brands, while still trailing Tesla in overall sales volume, are experiencing growth. Polestar, for example, reported increased sales in the first quarter, driven by incentives such as the “Tesla conquest” bonus.