 On Thursday, Joby Aviation announced it has received Part 135 air carrier certification from the Federal Aviation Administration, allowing it to carry commercial air taxi operations. The certification had been expected in H2. More: - The Part 135 air carrier certificate would enable Joby to conduct interstate, foreign, or overseas transportation or carry mail, per the FAA.
- The process included 850 pages of manuals for approval and required Joby's pilots to prove mastery of procedures and training under the observation of the FAA.
- Joby expects to launch eVTOL ridesharing in 2024.
- Joby stock was up 3.71% for the day on Thursday afternoon.
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 On Thursday, ECARX, which develops hardware and software for brands such as Mercedes-Benz and Lotus, confirmed its intention to go public via special purpose acquisition company COVA. The deal values the company at $3.8B. More: - The listing would make ECARX the largest Chinese company to list on a U.S. stock exchange following ride-hailing company Didi, which is planning to delist after Chinese regulator objections.
- The transaction involves a $45M investment from Geely, Luminar Technologies, and Lotus.
- The merger is expected to close in Q4, with UBS and Morgan Stanley advising on the listing.
- COVA Acquisition raised $300M in 2021, with the original intent to merge with a tech firm in the U.S. or Southeast Asia. COVA is led by Jun Hong Heng of Crescent Cove Advisors, which is an early investor in Luminar Technologies.
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Car production in the U.K. dropped 11.3% in April to 60,554 vehicles, driven by increased energy prices and supply chain constraints stemming from the war in Ukraine, a major source for auto parts. Electric vehicles, which comprised more than a quarter, increased production by 2% YoY. More: - British-made vehicles for export decreased by 20.8% YoY to 47,786 units.
- Year-to-date, the U.K. has produced 267,901, constituting a drop of 28.5% YoY.
- Commercial vehicle production was up 27.6% at 7,879 units, of which 58% were exported.
- Year-to-date, commercial vehicle output is up 48.9% to 33,147 units in the U.K., of which 67.2% were exported.
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Rolls-Royce Motor Cars has resorted to importing some auto parts via air, as recent port lockdowns in China have constrained supply. CEO Torsten Mueller-Oetvoes told Bloomberg that the supply chain is a daily concern. More: - BMW has prioritized sending semiconductors to Rolls-Royce, as it contributes to the group's profitability, according to Mueller-Oetvoes.
- Rolls-Royce delivered approximately 5,600 vehicles globally in 2021, a record year for the luxury car maker.
Zoom Out: - On Wednesday, Stellantis CEO Carlos Tavares said he expects EV battery shortages in 2024 to 2025 and an undersupply of raw materials by 2027 and 2028.
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American Airlines has been awarded a symbolic $1 over a case US Airways brought against tech distributor Sabre for employing hostile anti-competitive practices to increase its revenue from airline tickets. US Airways, prior to its merger with AA in 2013, claimed Sabre's practices had cost it $300M. More: - The case was first heard in 2016 when American Airlines won $15M in damages; however, Sabre successfully had the decision overturned.
- The airline claimed Sabre forced it to make all of its fares bookable through its system, preventing US Airways from direct sales to travel agents and business accounts and stopping the airline from charging agents a fee for Sabre's service.
- While the jury found that Sabre was involved in monopolistic practices, it determined the $1 award to AA is "commensurate with the evidence presented" of US Airways suffering any financial loss.
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The U.S. Department of Transportation has revoked the certification of California-based airline Airbahn. The startup has been on Phase 3 of the FAA certification for over three years without attaining the necessary safety requirements. More: - DOT raised concerns in relation to the status of its flight and cabin crew's recurring training, as more than a year has passed since the latest sessions.
- "While the Department is willing to work with applicants, where warranted, and allow additional time to file information, we cannot allow applications to remain pending indefinitely," said Lauralyn J. Remo, associate director for DOT's Air Carrier Fitness division.
- The DOT rejected an extension request on May 19. It previously provided Airbahn an extension in January through April 30.
- Airbahn had planned to offer flights in California, Nevada, and Western Canada, with a potential expansion to Mexico.
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- Diesel trains have been replaced with Kawasaki M8 Electric Multiple Unit electric trains on Connecticut's Shore Line East from New Haven to New London.
- The Oregon Department of Transportation has set up 120V plugs at 44 of the electric vehicle charging stations along I-5, I-84, and US 101, among other highways, for e-bike charging.
- Volkswagen has agreed to pay $242M to a British consumer group via an out-of-court settlement involving 91,000 legal claims over its dieselgate emissions scandal. The allegation indicated that VW, including its Audi, Seat, and Skoda brands, emitted more nitrogen oxide than the automaker claimed.
- On Wednesday, Volkswagen received unconditional approval from regulators to bid for car rental company Europcar. AMF, France's stock market regulatory agency, has set June 10 as the end of the initial acceptance period for investors to tender the stock.
- Nano One, which produces low-cost, high-performance lithium-ion battery cathode materials, revealed it has acquired Johnson Matthey Battery Materials, the producer of the sole LFP cathode facilities in North America. The deal is estimated at $8M.
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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. | |
The right metrics make a difference. Read our fact sheet and learn what you should be measuring to prove marketing impact. | |
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