Dear Inside Community, May is here, which means Meet Our Fund 3 is only a few weeks away. This is the latest installment in our most popular event series where some of the most dynamic venture funds in the industry reverse-pitch themselves to thousands of founders. Register today. We want you to have a free, front-row seat to this virtual event. This is your chance to pose questions directly to investors. Understand what they look for in portfolio companies and how they distinguish themselves when they invest. Don’t miss out when MOF3 goes live on May 24 and 25. —The Inside Team | |  Nicolas |  |
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 Georgia is offering electric vehicle maker Rivian $1.5B in tax incentives to build its manufacturing facility in the state. The factory is estimated to cost $5B, with an expected output of 400,000 EVs per year. More: - The incentives are contingent on Rivian agreeing to create 7,500 jobs with an average salary of $56,000 per year, plus benefits, by the end of 2028.
- Rivian expects to break ground this summer, with production starting in 2024.
- The EV maker currently produces its R1T pickup trucks at a former Mitsubishi facility in Normal, Illinois.
Zoom Out: - Rivian projects the production of 25,000 vehicles by the end of 2022. The company also revealed it is expecting to run at 50% production capacity due to the semiconductor shortage.
- Rivian stock was up 1.73% for the day on Tuesday afternoon.
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 On Monday, Electrify America released its annual report detailing the delivery of 41.4 GWh of energy in 2021. According to the EV charging company, its services prevented the use of 5.7 million gallons of gasoline for more than 145 million traveled miles. More: - Electrify America had 1.45 million charging sessions in 2021 versus an estimated 268,000 the previous year.
- The company currently has 800 EV charging stations with 3,500 individual chargers, including those under construction.
- Electrify America expects to reach 1,800 total charging stations with 10,000 chargers in the U.S. and Canada by 2026.
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 A message from CONNECTEAM Discover the New Way to Effectively Manage Your Employees Paper-Free Until this very day, so many businesses around the world are using pen and paper to handle crucial aspects of their daily business. But what’s stopping your employees from losing/damaging their shift schedules, forgetting to clock in and out, and not receiving important messages from their managers? That’s why thousands of businesses from more than 90 different industries are turning to Connecteam to solve these problems once and for all. With its wide range of features, managers can effortlessly track employees’ hours, streamline communication and oversee their shifts - all from the convenience of their mobile devices. Most importantly - everyone in your business can easily use Connecteam because of its simple user interface. Never use paper again to manage your employees. Go completely digital today. Connecteam is free to use for your first 50 users. Paid plans start from $39/month and come with a 14-day free trial. Start your Free Trial
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Stellantis' car-sharing company Free2move announced the acquisition of Share Now, a shared venture by Mercedes-Benz and BMW, for an undisclosed amount. The acquisition will add 14 new European cities to Free2move, in addition to its existing seven markets. More: - Share Now will add 3.4 million users to Free2move for a total of 5.4 million customers.
- Free2move's fleet of 2,500 shared vehicles will add Share Now's 10,000 vehicles.
- Free2move expects to expand to 15 million active users by 2030. It seeks to reach approximately $737.4M in net revenue in 2025.
- In March, Stellantis' car-sharing platform announced the acquisition of Opel Rent, expanding its presence to 1,000 agencies in Germany and Austria.
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Energy company Veolia and auto parts supplier Faurecia announced a research partnership, seeking to use an average of 30% of recycled plastics in car interiors by 2025. The materials will be used in instrument panels, door panels, and center consoles in cars across Europe. More: - Veolia, which earlier this month announced a $15.44B merger with its competitor Suez, expects to begin production of secondary raw materials at its recycling plants in France starting in 2023.
- Veolia expects to reach an approximately $1.05B turnover by 2025.
- An estimated 9% of the world's plastic is recycled.
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 A message from MAGIC MIND What was the best day you had recently at work? We’re willing to bet it involved a big chunk of time free from meetings and distractions where you were able to get into a deep flow-state and do impactful, creative work. Magic Mind is a 2oz shot with 12 active ingredients all clinically proven to get you into that creative flow-state more often. It exists to help creators do more and stress less. Some people (alright, those people work at Magic Mind) have said "if athletes have Gatorade, creators now have 'Creatorade' with Magic Mind". That’s why entrepreneurs, creatives, executives, and everyone in between rely on Magic Mind to enhance their morning ritual and get more done. Oh, and it tastes delicious. Try Magic Mind today, 100% risk free (we’ll refund your first purchase no questions asked if it doesn’t work for you). Enter exclusive code INSIDE15 for 15% off your purchase, and find your flow-state today! Try Magic Mind
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Stellantis announced its plans to invest approximately $2.8B to reconfigure two manufacturing plants in Ontario to build its upcoming electric vehicles. The automaker plans to spend $35B on electrification initiatives. More: - Stellantis also plans to add a battery research and development facility in Windsor, Ontario, where it plans to create 650 jobs.
- The automaker expects to sell 5 million electric vehicles per year by 2030.
- In March, Stellantis announced a $4.1B EV battery manufacturing facility with LG Energy Solution in Windsor.
- Stellantis stock was up 2.09% for the day on Tuesday morning.
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 On Tuesday, Tritium announced it will provide 250 DC fast chargers to Osprey's charging network in the U.K. The charging infrastructure will be placed in retail parking lots and will add to Osprey's 100 destinations. More: - The U.K. is projected to require between 280,000 and 480,000 public charging points by 2030.
- Approximately 190,727 new electric vehicles were sold in the U.K. in 2021, up 76% versus the previous year.
- In April, Tritium received an initial order for 1,000 chargers by BP for networks in the U.K., Australia, and New Zealand.
- Tritium stock remained flat by Tuesday afternoon.
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Quick Hits: - SeedInvest launches a pitch competition for historically underrepresented founders. Over $40,000 in prizes. Pitch to Baron Davis and Jesse Draper. Learn more.*
- Rivian announced a partnership with Nashville-based Clearloop on the Paris Solar Farm in Puryear, Tennessee. A 6.75 mW project will cover electricity used by charging points planned for Tennessee state parks.
- Rocket Lab delivered 34 small satellites to low Earth orbit for customers, including Alba Orbital, Astrix Astronautics, Aurora Propulsion Technologies, E-Space, Spaceflight Inc., and Unseenlabs. The space company attempted to catch its Electron rocket using a helicopter and "experienced different load characteristics than experienced in testing," releasing the booster for an ocean splashdown.
- Hyundai Motor is reportedly ending its cooperation with Rimac Group, including its electric sports car and fuel-cell battery projects. Hyundai and Kia invested ~$84M in Rimac in 2019.
- Brazil-based Localiza Rent a Car reported a $101.75M net profit in Q1, growing by 7.3% YoY.
- B2B businesses are switching to e-commerce. Now, it’s your turn. Learn three persuasive approaches that communicate the value of digital to decision-makers.*
*This is sponsored content.
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Upcoming events at Inside: - May 05 - [Live Webinar] Women in Sales: How to Build Your Personal Brand to Drive More Sales presented by Introhive (Register Here) *
- May 10 - Giving Voice and Intelligence to Digital Characters with David Colleen (SapientX) (Register Here)
- May 11 - Building Last-Mile Startups: Underground Delivery with Garrett McCurrash (Pipedream Labs) (Register Here)
- May 12 - Making Metaverse Dating a Reality (Register Here)
- May 18 - Need To Know NoCoder: Jatin Arora (Utilize) (Register Here)
- May 19 - Understanding Fractionalization (Register Here)
- May 24 - Meet Our Fund 3 (Register Here)
- May 31 - Ethereum Merge with Anthony Donofrio (Ethereum) (Register Here)
- June 01 - Selling Consumer Goods in Web3 (Register Here)
- June 09 - Empowering Content Creators with No Code (Register Here)
- June 22 - The Future of Open-Source Software Security (Register Here)
- June 30 - HR Strategies to Retain Remote Employees (Register Here)
*This is a sponsored event listing.
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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. | |
Connecteam is the all-In-One Employee Management Software. Time Tracking, Shift Scheduling, Communication, and Much More. | |
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