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Sufficient with my typical small discuss. Let’s bounce into the information immediately this week. And there’s loads of it, together with Lyft’s entry into Europe, AV startup Nuro heading to Japan, the primary drive of the Lucid Gravity SUV, a number of New York Worldwide Auto Present highlights, and a SPAC.
Sure, the SPAC is again. Or did this monetary instrument actually ever fade away?
Let’s go.
Just a little hen
Just a little hen instructed us that some persons are hoping to get forward of the numerous, many hurdles eVTOLs want to leap earlier than there could be “highways in the skies.” This contains working with actual property house owners in rural areas to arrange vertiports and charging infrastructure. The pitch? Including that infrastructure has the potential to extend your property worth sooner or later.
We’re digging into this to search out out extra!
Acquired a tip for us? Electronic mail Kirsten Korosec at kirsten.korosec@techcrunch.com or my Sign at kkorosec.07, Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com. Or take a look at these directions to learn to contact us by way of encrypted messaging apps or SecureDrop.
Offers!
I anticipated a number of extra IPOs in 2025 than the prior yr, however SPACs? Say it ain’t so. And but, right here we’re with a recent merger between autonomous automobile expertise startup Kodiak Robotics and particular function acquisition firm Ares Acquisition Company II.
The transaction values Kodiak, which has raised round $243 million so far, at about $2.5 billion pre-money. New and present Kodiak institutional buyers, like Soros Fund Administration, ARK Investments, and Ares, have funded or dedicated over $110 million in financing to help the transaction, in addition to about $551 million of money held in belief.
I spoke to Kodiak founder and CEO Don Burnette and requested the apparent query: A SPAC? Now? Why?
“Kodiak, now that we have launched driverless, we have our vehicles on the road, we have driverless revenue coming in,” Burnette instructed me. “We think now is the time for growth. We want to take advantage of the tailwinds we’re seeing in the markets.”
Tailwinds? I requested him to elucidate, and Burnette meant tailwinds within the autonomy sector versus the broader financial markets.
“Obviously, we’re seeing short-term volatility — that’s an understatement,” he stated. “But we’re really thinking about this as a long-term thesis of transforming the transportation markets, using AI, using technology, and through automation. It’s something I’ve always believed in.”
Different offers that received my consideration …
Conifer, a startup creating electrical hub motors which are freed from uncommon earth parts, raised a $20 million seed spherical from buyers, together with True Ventures, MaC Ventures, MFV Companions, and others. True Ventures’ Rohit Sharma has joined Conifer’s board.
Kavak, a Mexico-based on-line used automotive seller, raised $127 million in an fairness spherical, reducing its valuation to $2.2 billion from $6.5 billion. The spherical was co-led by SoftBank Group Corp and Common Atlantic. The corporate additionally secured $400 million in new debt.
Lyft agreed to amass FreeNow, a German multi-mobility app with ride-hail at its core, from BMW and Mercedes-Benz Mobility for about $197 million in money. The acquisition opens up the European market to Lyft for the primary time.
Nyobolt, a British EV charging startup, raised $30 million in funding, led by IQ Capital and Latitude. Strategic companions, together with Scania Make investments and Takasago Business, additionally participated.
Notable reads and different tidbits
ADAS
China is cracking down on how automakers promote driver-assistance options, banning phrases like “autonomous driving,” “self-driving,” and “smart driving.” For those who instantly considered Tesla and its “Full Self-Driving” software program, it’s price noting the automaker has modified the branding. However Tesla and others shall be affected by guidelines round over-the-air software program updates for ADAS, which requires testing and authorities approval.
Autonomous automobiles
Nuro will start mapping and accumulating knowledge in Japan utilizing autonomous automobiles (retrofitted Prius automobiles) from its U.S. fleet.
Waymo and Uber are getting ready to launch their joint robotaxi service in Atlanta this summer season. Uber opened up an “interest list” this week to prospects in Atlanta. The 2 corporations launched the “Waymo on Uber” service in Austin in March. Information from market analytics agency YipitData reveals Waymo robotaxis made up about 20% of rides provided by Uber in Austin within the final week of March.
Zoox has partnered with Stingray Music, which is able to supply a curated collection of 16 stations by way of the touchscreen contained in the robotaxis. Yet one more signal Zoox is on the point of launch commercially.
Electrical automobiles, charging, & batteries
Lime will ship batteries utilized in its scooters and e-bikes to Redwood Supplies, which is able to extract and recycle essential minerals reminiscent of lithium, cobalt, nickel, and copper.
Kia debuted its 2026 EV4 sedan on the New York Worldwide Auto Present. That is the corporate’s first world electrical sedan and one designed for purchasers in search of an reasonably priced EV. Will Individuals purchase it?
TechCrunch contributor Abigail Bassett spent a day driving the brand new all-electric Lucid Gravity SUV. Learn the complete evaluate and discover out why she wrote that the Gravity is “over-engineering at its best.”
Rivian’s first non-Amazon van buyer is HelloFresh.
Subaru unveiled its second EV, a wagon-like SUV known as the Trailseeker that, like its predecessor the Solterra, features a little bit of Toyota handiwork.
Way forward for flight
Archer Aviation unveiled its proposed air taxi community for New York Metropolis in partnership with United Airways, which might enable passengers to tack on an Archer trip to their conventional airline tickets.
Trip-hailing
India’s market regulator launched an investigation into Gensol Engineering after discovering alleged misuse of electrical automobile loans. BluSmart, a ride-hailing startup related to Gensol that was as soon as seen as an rising Uber rival within the South Asian market, has additionally been swept up into the investigation. And now it appears BluSmart has suspended companies in some Indian cities.
Safety
Hertz prospects have been notified of a knowledge breach that included their private info and driver’s licenses. Hertz attributed the breach to a vendor, software program maker Cleo, which final yr was on the heart of a mass-hacking marketing campaign by a prolific Russia-linked ransomware gang.
