Via IPO and German Automakers: TechCrunch Mobility News

The Resurgence of German Automotive Innovation

The world of transportation is constantly evolving, and recent developments demand attention. This update provides insights into the latest trends and announcements within the automotive industry.

This week marks a significant return – both my own, and a determined push from German automakers. The biennial IAA Mobility conference in Munich has commenced, serving as a platform for these companies to demonstrate their continued capacity for innovation, technological advancement, and competitive pricing.

The underlying message of this prominent event, which began on Tuesday, is a clear challenge to the growing influence of Chinese automotive manufacturers. German companies are signaling their intent to remain key players in the global market.

Showcasing New Vehicles and Strategies

VW Group, Mercedes, and BMW each unveiled a range of new vehicles, with a strong emphasis on electric models. Executives articulated their strategies for maintaining and expanding market share.

Oliver Blume, CEO of VW Group, expressed a confident outlook in interviews, detailing the company’s plans to enhance its competitiveness in China, particularly within the electric vehicle sector – an area where VW has experienced some challenges.

The focus isn't solely on international markets. German automakers are responding to the increasing presence of Chinese brands within Europe, where consumer interest is demonstrably growing.

New offerings, such as the all-electric Mercedes GLC, the BMW iX3 featuring four advanced “superbrain” computers, and the Volkswagen ID Polo and ID Cross concepts, are intended to solidify and potentially increase market share. However, considerable effort will be required.

Data from JATO Dynamics indicates that companies like BYD have nearly doubled their market share in Europe over the last year.

Breakthroughs in Battery Technology

Another noteworthy announcement from IAA Mobility comes from Rimac Technology, the technology and components division of Rimac Group.

They have developed solid-state battery packs, projected to be available by the end of 2027. These batteries promise increased energy density and exceptionally fast charging capabilities.

Specifically, the batteries are expected to facilitate charging from 10% to 80% capacity in less than 10 minutes.

Stay informed with TechCrunch Mobility delivered directly to your inbox. Subscribe for free by clicking TechCrunch Mobility!

Industry Updates and Investment News

Recent information, sourced from industry insiders, indicates that Hyundai remains dedicated to its autonomous vehicle (AV) venture, Motional.

Initially, Hyundai and Aptiv established Motional as a joint venture, committing a total of $4 billion to its development. Following Aptiv’s withdrawal in early 2024, Hyundai chose to continue the project through direct investment.

This involved a $1 billion investment, with $475 million going directly into Motional and a further $448 million allocated to acquire 11% of Aptiv’s equity in the venture.

Further investment is now being made by Hyundai in two phases. Approximately $452 million is being distributed in the current year.

The amount of the second tranche, scheduled for next year, is still being confirmed. This initial figure aligns with reports from Korean news sources.

Hyundai has declined to comment on the funding details, a common practice for large companies. However, sources suggest this discretion may be linked to Hyundai’s concurrent collaboration with Waymo.

New Hires at General Motors

General Motors has recently appointed two key personnel. Sony Mohapatra, previously a senior manager at Cruise focusing on AI compute platforms, now serves as director of AI and machine learning engineering at GM.

Additionally, Paul Menson, formerly a senior staff account manager at Tesla specializing in Megapack, has joined General Motors as director of energy storage systems business development.

Do you have information to share? Contact Kirsten Korosec at kirsten.korosec@techcrunch.com or via Signal at kkorosec.07, or Sean O’Kane at sean.okane@techcrunch.com.

Investment Highlights

Via, a transit software company initially recognized for its on-demand shuttle services, has officially launched its initial public offering (IPO).

The company had previously explored IPO options over several years. This time, Via successfully completed the process.

Via, also associated with the Citymapper navigation application, announced the sale of 10.7 million shares at a price of $46 each. This resulted in a total of $492.9 million raised, establishing a company valuation of $3.7 billion.

This valuation is marginally higher than the $3.5 billion achieved during its previous venture funding round in 2023.

Further updates regarding the company’s trading performance will be provided in a subsequent report.

Additional investment activity of note…

Recent Funding Rounds

Arc Boats, a Los Angeles-based startup established in 2021 by former SpaceX personnel, has secured a $160 million contract with Curtin Maritime.

This contract is for the development of new hybrid-electric tugboats, anticipated to be operational around the port of Los Angeles by 2027.

LeydenJar, a Netherlands-based company specializing in battery materials, has raised €13 million (equivalent to $15.2 million).

The funding round was spearheaded by Extantia and Invest-NL.

Standard Fleet, a provider of fleet management software, successfully completed a $13 million Series A funding round.

Nova Threshold led the round, with participation from WEX Venture Capital, SNR, Garry Tan (CEO of Y Combinator), Salil Deshpande (Uncorrelated Ventures), and Apoorv Bhargava (WeaveGrid). Existing investors, including Burst Capital, Canvas Ventures, Liquid 2, Night Capital, Olive Capital, UP2398, and Danny Wen, also contributed.

• This demonstrates continued confidence in the fleet management sector.
• The diverse investor base highlights the company’s potential.

Recent Developments in Mobility and Automotive Tech

A new pilot program has been unveiled by the Federal Aviation Administration. This initiative will allow companies developing electric vertical takeoff and landing (eVTOL) aircraft to conduct operational tests prior to achieving complete regulatory certification.

Challenges for Supernal

Supernal, Hyundai’s electric air taxi venture, is currently facing significant hurdles. Development of the aircraft has been paused following recent staff reductions and the resignations of both the CEO and CTO, according to sources familiar with the situation.

InDrive's Global Ambitions

InDrive, a Mountain View-based company originating in Siberia, aims to evolve into a comprehensive global super app. The company, known for its unique bidding-based ride-hailing service in Asia and Latin America, is actively identifying target markets and expanding its offerings.

Cyberattack Impacts Jaguar Land Rover

Jaguar Land Rover experienced a disruption to its vehicle production due to a recent cyberattack. Assembly lines were temporarily halted as a result of the security breach.

Robotaxi Service Launched in Atlanta

Lyft and May Mobility have initiated a robotaxi service in Atlanta. This marks the first commercial deployment resulting from the collaborative partnership between the two companies.

Boring Company Investigation

An investigation has been launched by Nevada’s Occupational Safety and Health Administration. This follows a “crushing injury” sustained by a Boring Company employee while working on a tunnel project in Las Vegas, leading to a temporary work stoppage at the site.

Tesla's Nevada Testing Permit

Tesla has been granted permission to begin testing its autonomous vehicle technology on public roads within Nevada. Obtaining a testing permit in the state is a relatively simple process. It requires completing a registry form and maintaining the necessary $5 million insurance coverage.

However, Tesla still needs to finalize the self-certification process before a full program rollout is possible. Separate approval will also be required to launch a commercial ride-hailing service.

Uber and Momenta Collaboration

Uber and Chinese autonomous vehicle technology firm Momenta are planning to commence robotaxi testing in Munich, with operations anticipated to begin in 2026.

DOJ Lawsuit Against Uber

The U.S. Justice Department has filed a lawsuit against Uber. The allegations center around violations of federal law through discriminatory practices against individuals with physical disabilities.

TechCrunch Disrupt 2025: Key Transportation Leaders Confirmed

The TechCrunch Disrupt 2025 conference is fast approaching, scheduled to take place in approximately six weeks. This year’s event, hosted at the Moscone Center in San Francisco from October 27th to 29th, will feature prominent figures from the transportation sector.

Featured Speakers from the Transportation Industry

Several leading executives will be presenting at the conference. Among those confirmed are Alex Kendall, co-founder and CEO of Wayve.

Also joining the speaker lineup is Tekedra Mawakana, co-CEO of Waymo. Furthermore, Ryan Petersen, founder and CEO of Flexport, will be sharing his insights.

Event Details and Startup Showcase

Additional speakers are expected to be announced shortly. Keep an eye out for further updates regarding the full speaker roster.

Tickets for TechCrunch Disrupt 2025 are currently available for purchase here. Attendees will also have the opportunity to explore the Startup Battlefield 200.

Startup Battlefield 200

The Startup Battlefield 200 represents a curated selection of innovative startups. These companies will be showcasing their products and services at the event.

A select group from the 200 will also be pitching their ventures on the main stage, competing for recognition and investment.