| |
| Hey Insiders — Today we're bringing you the latest on Lyft's micro-mobility business and Tesla surpassing Toyota for new vehicle registrations in California. Scroll down for news on the return of the Chevy Bolt EV. Let us know which areas you would like us to cover next. Thanks for reading! Nicolas
p/mobilitynerd | |
| 1 | | Lyft is considering divesting from its e-scooter and bike-sharing segments as it confirmed "strong inbound interest" for the business unit. The company currently has micro-mobility operations in 15 countries. More: - In 2022, Lyft had 3.6 million riders using over 68,000 e-scooters and e-bikes, including New York's CitiBike.
- Lyft has been undergoing cost-cutting measures, which included the layoff of 1,072 employees (26% of its staff) in April.
- The company saw its co-founders step down from their executive positions in April amid shareholder pressure to bridge the gap with Uber*.
- Under its new CEO, David Risher, changed the company's structure by eliminating three layers of management to the current five.
- The former Amazon executive also reorganized the core ridesharing business into three teams.
*NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber. |     | |
| 2 | | New plug-in cars in California increased by 40% YoY to 220,624 units in the first half of the year. This represents 24% of the local market share. More: - Q2 marked the first time Tesla surpassed Toyota in registrations across engine types in California, with 69,212 units versus 67,482.
- Non-Tesla battery electric vehicle registrations comprised 34,304 for the second quarter.
- In Q2, California observed the registration of 103,516 new BEVs for a 22.7% market share.
- New hybrid vehicles reached 38,629 units for the second quarter, representing an 8.5% share.
| | | |
| A message from our sponsor, NativePath. |  | | Your new secret weapon to reversing signs of aging Collagen, the body's most abundant protein, is crucial in maintaining healthy joints, skin, bones, and hair. Unfortunately, natural collagen production declines with age, causing unwanted signs of aging, including sagging skin, wrinkles, brittle nails, hair, and joint pain. Fortunately, NativePath's Certified Grass-Fed Collagen Powder unlocks the body's potential to combat aging and promote overall wellness. With just two scoops daily, you can feel younger and reverse the signs of aging. Collagen acts as an antioxidant, which helps fight off harmful free radicals and repair previous skin damage, reducing dark spots. With NativePath, you don't have to settle for anything less than nature's best in every bottle. Order now for 55% off your first order of Grass-Fed Collagen Powder! Buy Now | |
|
| 3 | | General Motors CEO Mary Barra confirmed the return of the Chevy Bolt EV. After halting production in November, the automaker removed the Bolt EV and EUV from its lineup in January. More: - The Bolt EV and EUV were initially discontinued due to the cost of battery production versus its third-generation Ultium cells being used in the Hummer EV, Cadillac Lyriq, Chevy Blazer EV, and Chevy Equinox EV.
- In addition to battery updates, Barra confirmed the new version of the Bolt EV would feature upgrades in its GM Ultifi end-to-end software platform for over-the-air updates.
- The company has not disclosed information on the location of future production of the model, as its site in Lake Orion, Michigan, is currently being refactored for the production of the Chevy Silverado EV and GMC Sierra EV.
- General Motors reported $84.7M in revenue for H1, increasing by 18.1% YoY.
| | | |
| 4 | | Nissan announced it would invest up to €600M (~$664.6M) in Renault's new electric vehicle spinout, Ampere. The investment is the final piece in the negotiation between the two automakers involving the separation of their alliance, which began in February of this year. More: - Nissan's stake is speculated to be less than 10% of the new entity.
- "The investment opportunity in Ampere complements and strengthens Nissan's ongoing electric push in Europe and will deliver numerous synergies, including cost efficiencies, regulatory compliance, and a broader range of EV products and powertrains," said Nissan CEO Makoto Uchida.
- Under the deal, the automakers would also cooperate in business involving Europe, Latin America, and India.
- As part of the broader negotiation, Renault reduced its stake in Nissan from 43% to 15%, with 28.4% going to a French trust.
| | | |
| 5 | | Los Angeles International Airport selected a consortium led by Realterm to rebuild its cargo facilities for increased capacity and efficiency. LAX, the fifth-largest airport by cargo tonnage in the U.S., saw ~2.7 million tons of cargo pass through its facilities in 2022. More: - Currently, the airport has three areas dedicated to cargo encompassing 27 buildings and 3.5 million square feet of aircraft ramps.
- JLC Infrastructure, a joint venture between Magic Johnson Enterprises and Loop Capital Partners, is an equity holder in the project's consortium, named LAX Community Partners.
- The airport's plan involves the construction of a 1.6 million sq. ft. two-story facility with ramp access and automated material handling.
- The project planning and design phase is estimated at $8.2M, while its environmental review is expected to cost $25M.
- The upgrade is expected to occur over at least two years, beginning in Q3 2024.
| | | |
| 6 | | Electric bus company Lion Electric announced it is opening its manufacturing plant in Joliet, Illinois, with a production capacity of 2,500 EVs per year. Lion Electric plans to expand the facility's output to 20,000 electric buses and trucks per year. More: - The company is planning to hire 1,400 roles at the location. Lion collaborates with Argonne National Laboratory and Joliet Junior College on research and workforce development.
- The bus manufacturer raised $142M last week through convertible and non-convertible debentures led by a group of Canadian funds. It also seeks to accelerate production at its site in Mirabel, Quebec.
- Lion Electric delivered 220 vehicles in the first quarter, increasing from 84 during Q1 2022.
- $LEV closed down 4.53% for the day but up 24.73% MoM on Tuesday.
| | | |
| 7 | | Quick Hits: - Invest in Virtuix before they ship their VR treadmills to their waitlist, a $100M opportunity. This opportunity ends on 8/10.*
- NASA has granted Blue Origin $34.7M to construct solar panels on the moon from lunar materials.
- Tesla representatives are reportedly scheduled to meet with India's commerce minister this month to discuss building a factory to produce a $24,000 EV.
- Over 1.25 million Lime riders took 12 million e-bike trips in London from January 2019 to March 2023.
- Phoenix-Mesa Gateway Airport grew its passenger count by 5.6% for a record of 1,917,911 people between July 2022 and July 2023.
- Discover how collagen helps reduce loose skin, deep wrinkles, and dark spots.*
*This is sponsored content. | | | |
| Upcoming Events | | JUL
31 | | #TwoCents Discussion Community Challenge | | | | | | | AUG
2 | | Join Vanta and VioletX and find out how growing startups should navigate the complex compliance space.* | | | | | | | OCT
16 | | Meet Our Fund 5, Building and Investing in AI | | | | | | | NOV
7 | | Join us for Strategic Marketing 2023 and meet 300+ CMOs and senior marketing leaders from the world's biggest brands.* | | | | | | * This is a sponsored event | | | |
Term of the Day Customer relationship management: Customer relationship management (CRM) is a strategy for managing a company's interactions with its customers or potential customers. Question of the Week What's your stance on unpaid internships: valuable experience or exploitation? Join the conversation |
INSIDE TRANSPORTATION LEADERBOARD (ALL-TIME) |
 | Sr. Analyst | | Nicolas S. is a Sr. Analyst at Inside, covering transportation and startup trends. He is an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped startups. Follow him at @MobilityNerd. | | This newsletter was edited by Christopher Hachey | |
| |
| |
|
| |
Comments
Post a Comment