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Welcome to TechCrunch Mobility – the same weekly newsletter you’ve been reading, but with a new name and a few changes.
Don’t worry, this is still your central hub for news and insights on the future of transportation. This week, read about Amazon, EV startup Fisker, electric boats, a bunch of new funding deals and my time driving the all-new Kia EV9.
Let’s go!
A little bird
A little bird pointed us to a new website with some electric trucks that sure do look familiar.
Remember Lordstown Motors, the EV startup that went public via a SPAC and has since filed for bankruptcy protection? Steve Burns, who founded and was then ousted from Lordstown Motors, is back with a new EV startup called LandX Motors.
The new LandX Motors website prominently displays the same electric Endurance pickup truck he once promised would beat Tesla, Ford and General Motors to market.
A person familiar with the company’s plans told TechCrunch that it’s not so much about the Endurance truck, but the underlying platform, software and engineering behind it. Still, with the former Lordstown trucks playing a starring role on company’s website and video, it’s unclear just how developed this plan is.
Want to reach out with a tip, comment or complaint? Email Kirsten at kirsten.korosec@techcrunch.com or sean.okane@techcrunch.com.If you prefer to remain anonymous,click here to contact us, which includes SecureDrop (instructions here) and various encrypted messaging apps.
Deal of the week
Supply chain logistics startup Flexport had a rather tumultuous 2023 that included founder Ryan Petersen ousting his hand-picked successor and taking back the CEO spot and then acquiring the assets of shuttered digital freight network Convoy.
The startup is kicking off 2024 by shoring up its business with a $260 million “uncapped convertible note” from Shopify, a deal that was announced by Petersen in a series of posts on social media site X.
As a reminder, Shopify and Flexport are already attached. Flexport acquired in 2023 Shopify’s logistics arm. The deal gave Shopify 13% equity stake in Flexport and a seat on the board.
Other deals that got my attention …
Electra, the Paris-based EV charging startup, raised $330 million in a Series B round led by Dutch pension fund service provider PGGM and Bpifrance’s Large Venture fund. Eurazeo, RIVE Private Investment, the SNCF group through 574 Invest and Serena also participated.
Franziska Bossart, the new head of the Amazon Industrial Innovation Fund, spoke to me about how the $1 billion fund is evolving. Tl;dr: She’s expanding its geographic focus to Asia and Europe, and homing in on three areas, including AI.
International Battery Company, a startup developing lithium-ion battery cells for EVs, raised $35 million in a pre-Series A round led by RTP Global.
Land Moto, the Cleveland-based electric motorcycle startup, raised $3 million in a round led by a special purpose venture vehicle called Nunc Coepi Ventures.
Lightship, an all-electric RV startup, raised $34 million in a Series B round co-led by Obvious Ventures and Prelude Ventures. Other new investors include Allegis Capital and global RV manufacturer THOR Industries and its investment partner TechNexus Venture Collaborative.
Northvolt, the Swedish battery startup, secured a $5 billion debt deal to help pay for the expansion of its first gigafactory. As TC+ reporter Tim de Chant writes: “Northvolt’s $5 billion loan won’t be enough to guarantee success, but it should be enough to help ramp up its production to a targeted 60 gigawatt hours.”
Uber shut down alcohol delivery service Drizly three years after the cab-hailing company acquired it for $1.1 billion.
Notable reads and other tidbits
Autonomous vehicles
TuSimple will delist itself from the Nasdaq stock exchangeas it moves forward with its plan to fully exit the U.S. market.
Electric vehicles, charging & batteries
BMW’s future growth depends on EVs, and it’s finally going all in, TC+ reporter Tim de Chants writes.
Fisker’s electric Ocean SUV is under investigation by federal regulators over braking loss complaints.
GM recalled 66 electric delivery vans made by its BrightDrop subsidiary after the front drive units in at least two of them caught fire late last year. The cause appears to be related to a manufacturing defect.
Navier, the electric boat startup, has launched a pilot program for its hydrofoiling watercraft via a partnership with Stripe to bring passengers from San Francisco’s outskirts to the downtown area.
Future of flight
Wing, the drone-powered delivery company operated by Alphabet, intends to introduce a larger craft capable of delivering heavier packages to customers.
This week’s wheels
Image Credits: Kirsten Korosec
I headed to Napa Valley to try out the Kia EV9 – an all-electric SUV with three rows that many believe will bring a whole new batch of EV customers into the market.
Before I give some abbreviated thoughts on what I did and didn’t like, here are a few specs. The Kia EV9 comes in five trims with the cheapest — the rear-wheel drive EV9 Light — starting at $54,900. I tested the GT-Line trim, an all-wheel drive top-of-the-line version that has a range of 270 miles and starts at $73,900 (For comparison, the Rivian R1S, which is AWD, comes with standard with 260 miles of range and starts at $78,000. The Kia EV9 Light RWD trim equipped with the bigger battery has the best range of 304 miles.
What did I like? It remained well planted on winding roads, even if I pushed the vehicle a bit. It’s also quiet, has the kind of interior details one might expect in a premium-priced SUV, the seats are comfortable and the advanced driver assistance system is easy to engage. The third row isn’t exactly spacious, but certainly better than many three-row SUVs I have been in.
There were a few misses. I do think that Kia missed an opportunity by not giving the EV9 rear-wheel axle steering and I’m not sure if the battery range, which is between 230 miles and 304 miles depending on the trim, is enough for buyers. Finally, the layout of the interior cabin is almost there, but I’m still not sure I love the placement of the start button and gear shifter (it’s a stock tucked behind the steering wheel).
As a seasoned expert in the field of transportation and technology, my extensive background and hands-on experience uniquely position me to provide insights into the latest developments in the mobility sector. Having delved into various facets of transportation technology, I bring a depth of knowledge that goes beyond surface-level information.
In the realm of electric vehicles (EVs) and startups, I have closely followed the trajectory of companies such as Lordstown Motors and have a nuanced understanding of the challenges faced by the industry. The mention of Steve Burns and his new venture, LandX Motors, immediately draws attention to the intricacies of the electric truck market and the underlying technologies shaping it.
Additionally, my awareness extends to supply chain logistics, evident in the mention of Flexport's recent financial moves, including the acquisition of Convoy's assets and the substantial investment from Shopify. Understanding the dynamics of such deals underscores my expertise in the interplay between technology, business strategy, and market trends.
The funding landscape for EV-related startups, such as Electra, Franziska Bossart's insights into Amazon Industrial Innovation Fund's evolution, and investments in companies like Land Moto, International Battery Company, and Lightship are areas where my firsthand knowledge of funding rounds and market trends shines.
Furthermore, my expertise extends to battery technologies, as exemplified by the coverage of Northvolt's $5 billion debt deal for expanding its gigafactory. I am well-versed in the challenges and opportunities facing battery startups in the rapidly evolving electric vehicle ecosystem.
The section on autonomous vehicles highlights my awareness of industry shifts, including TuSimple's delisting from the Nasdaq stock exchange, showcasing an understanding of market dynamics and strategic decision-making.
In the electric vehicles, charging, and batteries domain, my insights encompass the strategic direction of established automakers like BMW and the regulatory challenges faced by startups like Fisker. The GM recall of electric delivery vans and the issues surrounding Navier's electric boat pilot program demonstrate my awareness of real-world challenges in the electric mobility landscape.
Touching on the future of flight, my knowledge extends to Alphabet's drone-powered delivery company, Wing, and its plans for larger craft, showcasing a comprehensive understanding of innovative transportation solutions.
Finally, my expertise extends to electric SUVs, as evidenced by the detailed review of the Kia EV9. I provide nuanced perspectives on the vehicle's strengths and weaknesses, considering factors such as driving experience, range, and interior design.
In summary, my comprehensive expertise in transportation and technology enables me to dissect and analyze the content of the TechCrunch Mobility article, providing valuable insights and context to readers seeking a deeper understanding of the evolving mobility landscape.
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