Lyft active riders increased 49% to 18.7 million / Harley-Davidson reported a 40% revenue growth

Plus, Circularise plans to build blockchain traceability of EV rare-earth materials

Inside.com Part of   Network February 09, 2022

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Lyft reported its results for Q4, including a 70% YoY growth in revenue to $970M, increasing 12% QoQ. The ride-hailing company's active riders increased 49% YoY to 18.7 million but fell from 18.9 million in Q3. More: Lyft reached a record revenue per active rider in Q4 at $51.79, up from $45.63 in the previous quarter and $45.40 in Q4 of 2020.  Active drivers grew by 34% YoY, with new driver signups increasing by 50% from Q4 2020. The company had $457.3M in cash and cash equivalents in Q4.  Lyft stock was up 5.63% for the day on Wednesday afternoon.

Supply chain tracking company Circularise announced its plans to build a blockchain system for the traceability of rare-earth metals, including those used in electric vehicles. Circularise partnered with BEC GmbH, Grundfos, Minviro, and the Rare Earth Industry Association on the project, which is backed by the European Union's EIT RawMaterials. More: Circularise's goal with the project is to improve the transparency and sustainability of the rare-earth supply chain. Grundfos and BEC GmbH plan to test the system and business model by tracing and measuring the environmental impact of supply chains using Circularise's software. Demand for rare-earth materials is expected to reach 315,000 tons by 2030.

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Faraday Future revealed it has partnered with auto manufacturer Myoung Shin to produce its FF81 electric vehicle in South Korea. The companies expect production to start in 2024, following Faraday's plan to manufacture its FF91 model in Q3 2022. More: California-based Faraday Future expects to eventually expand production to China, per the company's press release. Faraday Future claimed to have more than 14,000 reservations for the FF91 before its SPAC merger with RMG Acquisition, a number found to be "potentially misleading" per the EV company's internal investigation. Last week, the company's chairman, Brian Krolicki, stepped down after the investigation, and former CEO and current chief product officer Yueting Jia and CEO Carsten Breitfield took a 25% pay cut.

Harley-Davidson reported a 40% YoY revenue growth to $1B for the fourth quarter of 2021. The motorcycle company had a 32% increase in revenue during 2021, reaching $5.3B.  More: Harley-Davidson generated $22M in net income in Q4 2021, up from a net loss of $96M in Q4 2020. For the full year, the company reported $650M in net income, up from $1M in 2020. Harley's motorcycle shipments increased by 39% YoY to approximately 29,100, generating $546M in Q4. In 2021, it rose by 30% YoY to 188,500, bringing in ~$3.47B in revenue for the motorcycle sales category.  The company's sales in North America rose by 8% in Q4 to ~19,600, while it dropped 7% to 6,500 in EMEA. Asia Pacific sales fell by 2% to approximately 6,800, and Latin America sales dropped 16% to 1,000. Harley had $1.9B in cash and cash equivalents at the end of 2021. During Q4, the company announced the SPAC merger for its electric motorcycle unit, LiveWire, with AEA-Bridges Impact Corporation, which is expected to close in the first half of 2022.  Harley-Davidson stock was up 4.88% for the day by Wednesday afternoon.

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Virgin Atlantic reached an agreement for the purchase of 2.5 million liters of sustainable aviation fuel (SAF) from Neste Oyj, which is expected to be delivered to London Heathrow in H1 2022. The airline has a goal of SAFs comprising 10% of its fuels by 2030. More: Neste Oyj claims SAFs, which are sourced from renewable waste and residue raw materials, can reduce greenhouse gas emissions by up to 80% compared to traditional jet fuels. Virgin Atlantic has a goal of attaining 100% net-zero emissions by 2050. Zoom Out: In October, Lufthansa partnered with K+N to open the first synthetic SAF facility. In September, JetBlue revealed it has a plan to spend $1B in SAFs, as it also seeks to convert 10% of its total fuel usage to the alternative source.

Foxconn revealed its plans to invest $8B in Q3 for electric vehicle manufacturing in Indonesia. The manufacturer plans to build a factory on 494.21 acres in Batang, Central Java, to build battery cells, cathodes, and telecommunications parts, in addition to vehicles.  More: The announcement comes as Foxconn has been delving into electric vehicle manufacturing. The company began producing the previously-delayed Endurance electric pick-up truck by Lordstown Motors, which is expected to be delivered in H2. Foxconn purchased Lordstown's 6.2-million-square-foot manufacturing facility in Ohio, where it is also producing vehicles by Fisker. In January, the manufacturing giant partnered with Indonesia Battery Corporation and Indika Energy to build batteries for Taiwan-based electric moped scooter company Gogoro.     Zoom Out: In December, Foxconn reportedly held talks with Saudi Arabia to form a joint venture to produce electric vehicles.

Quick Hits: 3D is the future of online shopping. With unlimited3D.com from Threedium, you can publish and share 3D & AR to the web with ease.* LG Chem generated $985M in its advanced material sales division, of which 31% came from battery materials and 33% semi-conductor materials.  Germany's car market is expected to grow 7% in 2022. Volvo reportedly plans to use a large die-casting process at China plants. Ferrari filed a patent for a midship-mounted battery pack. Xiaomi began testing its vehicle connect product, CarWith. Wing announced the launch of Walgreens delivery via drone for customers in Frisco and Little Elm, Texas. Urban air mobility company Hypoint opened a hydrogen fuel-cell systems research center in the U.K. Google Maps added Neuron Mobility e-scooters to its app in 16 cities.  Owners of some 2014-2017 Mazdas in the Seattle area report that their car radios are stuck in a reboot loop while playing the local NPR station, with no ability to change the channel or access Bluetooth or navigation. Mazda said a glitch in the station's HD radio signal corrupted the infotainment system's firmware. If you think time in the market outweighs timing the market, this finance app is for you.* *This is sponsored content.

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Written and curated by Nicolas Saravia, an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped start-ups.  Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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