Welcome back! did you miss me Yes, of course you did. There is a lot of news about the “future of transportation” to track. Let’s jump in.
Not just because I returned from vacation, but also because it was a comeback week. I’m talking about the biennial IAA Mobility Conference in Munich and the intentional effort to demonstrate a world where German automakers can provide attractive, technically sophisticated, affordable vehicles. Subtext of the flashy event that began on Tuesday: “Hey China, we’re not out of the race.”
VW Group, Mercedes and BMW all introduced a number of new vehicles, including electric vehicles. And the executives cried out a fight. VW Group’s Oliver Bloom hit a bullish tone in several interviews with reporters, laid out the company’s plans to be competitive, especially in the category VW is behind in EVS.
But what about the home front desk? Chinese automakers are being pushed up to Europe, and consumers have responded. The German automaker is looking forward to the latest offerings, including the new all-electric Mercedes GLC with four “Super Brain” computers, the BMW IX3, and the Volkswagen ID Polo and ID Cross concept. But they have a few things to do. Chinese companies like BYD have almost doubled their market share in Europe over the past year, Jato Dynamics reported in July.
Another IAA news item: Rimac Technology, the technology and components unit of Rimac Group, has developed a solid state battery pack, which is said to be available by the second half of 2027.
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Little bird
According to two Kotori who shared new investment information with me, Hyundai still seems to be committed to the movement.
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Hyundai and Aptiv have created a joint venture (called Motional) with an agreement to invest $4 billion in the effort. Aptiv backed out in early 2024, with Hyundai investing his money, finding other external partners and completely shuttering the program. Hyundai has chosen to invest $1 billion as part of a broader transaction, including the purchase of joint venture Aptiv. Hyundai agreed to spend an additional $448 million to buy 11% of APTIV’s common interests on Motional.
Now it appears that Hyundai is investing more in two tranches. The first is scattered this year, weighing around $452 million. The second will be next year, but I’m still trying to determine the amount. That first number coincides with reports from Korean outlets. Hyundai refused (several times!) to answer my questions about funding. It’s pretty typical for a large corporation to stay with mothers. But one Kotori, deep within the AV industry, pointed out that, given Hyundai is also working with Waymo, she might not want to do much about this.
With the other little birds cry, you might find it interesting with two new hires at General Motors. Sony Mohapatra, former senior manager of Cruise’s AI computing platform, has landed as Director of AI and Machine Learning Engineering at General Motors. Paul Menson, a senior staff account manager for Tesla’s Megapack, is currently the director of energy storage systems business development at General Motors.
Any tips for us? Email Kirsten Korosec at Kirsten.korosec@techcrunch.com (kkorosec.07) or sean o’kane (sean.okane@techcrunch.com).
Great deal!
Via, a transit software startup that attracted attention for its on-demand shuttle service for consumers has made its IPO debut. As I mentioned before, the company has been set to strike IPO plans for years.
Earlier this year, it was submitted to the IPO’s confidentiality. This is the second time I did this step. However, this time we have made a major IPO leap. The company, known for its CityMapper Mobile Navigation app, said it sold 10.7 million shares at $46 per share. Overall, it raised $492.9 million at a valuation of $3.7 billion. That’s slightly above the $3.5 billion valuation it acquired during its final venture Rais in 2023.
We had to put together this newsletter before officially commenced, but we’ll be updating it next week.
Other deals that caught my attention…
Founded in 2021 by former SpaceX employees, Arc Boats, a Los Angeles startup, has signed a $160 million contract with Curtin Maritime for a new hybrid electric tag that is expected to collide with waters around the port of Los Angeles in 2027.
Leydenjar, a Netherlands-based battery materials startup, has raised 13 million euros ($15.2 million) in a round led by Erantia and Invest-NL.
Standard Fleet, a fleet management software company, raised $13 million in the Series A round led by Nova’s threshold with participation from WEX Venture Capital, SNR, Garry Tan (CEO of Y Combinator), Salil Deshpande (non-correlated venture) and Apoorv Bhargava (Weavegrid). Returning investors include Burst Capital, Canvas Venture, Liquid 2, Night Capital, Olive Capital, UP2398 and Danny Wen.
Notable readings and other information
The Federal Aviation Administration has announced a new pilot program that will allow Electric Vertical Takeoff and Landing (EVTOL) startups to test some operations before they can receive full regulatory accreditation.
Hyundai’s once buzzy electric air taxi startup Supernal has a hard time getting off the ground. The company worked on its aircraft programme a few rocky months after staff was cut and the CEO and CTO left.
Mountain View-based startup that started in Siberia and known for its bid-based riding model across Asia and Latin America, the Mountain View-based startup wants to become a global super app. What is this and where is your target?
Jaguar Land Rover said the cyber attacks have stopped the vehicle assembly line.
Lyft and May Mobility launched Robotaxi services in Atlanta, the first commercial deployment of the two companies in a partnership.
Nevada’s Occupational Safety and Health Administration has launched an investigation after boring company employees maintained a “smashing injury” working in one of the Las Vegas tunnels. Work has been stopped on the site.
Tesla has the appropriate permission to begin testing self-driving vehicle technology on public roads in Nevada. As explained in this article, securing a test permit in the state is easy and easy. (Just fill out the registry renovation and make sure you have the right $5 million in insurance coverage.) Tesla must complete the self-certification process to allow you to deploy the entire program. Additionally, individual approval is required to operate commercial riding services.
Uber and China’s self-driving vehicle startup moment plan to begin testing Robotaxis in Munich from 2026.
The U.S. Department of Justice has filed a lawsuit against Uber after the ride company pleaded that it violated federal law by discriminating against people with disabilities.
One more…
TechCrunch’s 2025 is around the corner in about six weeks. And we have some of the famous people in the transportation world who appear on the stage at the Moscon Center in San Francisco. The event, which will be held from October 27th to 29th, will include Wayve co-founder and CEO Alex Kendall, Waymo Co-CEO Tekedra Mawakana and Flexport founder and CEO Ryan Petersen. And it’s coming more. stay tuned.
You can purchase tickets here. Also check out Startup Battlefield 200. Here’s a very incredible list of startups on display, as well as pitching on the main stage.
