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| Hey Insiders — Today we're bringing you the latest on VanMoof's bankruptcy and a new airline startup seeking to launch hydrogen-powered flights. Scroll down for news about General Motors' BrightDrop production pause. Let us know which areas you would like us to cover next. Thanks for reading! Nicolas
p/mobilitynerd | |
| 1 | | Netherlands-based e-bike manufacturer VanMoof officially filed for bankruptcy. The company had requested a Dutch court to defer its payments to creditors last week. More: - VanMoof could continue operations via an asset sale to a third party without taking on its outstanding debt.
- Earlier this year, VanMoof decided to close all stores and bike servicing as it struggled to obtain funding.
- Upon news of the deferred payments request, Belgium-based competitor Cowboy released an app for VanMoof customers enabling access to their digital key to ride their bikes.
- VanMoof was reportedly impacted by a 10% return rate by unsatisfied customers.
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| 2 | | Ecojet, a U.K. airline startup, plans to launch hydrogen-electric domestic flights in early 2024. The airline was started by renewable energy firm Ecotricity's founder, Dale Vince. More: - Ecojet will begin with a modified 19-seat turboprop aircraft, with plans for a 70-seater in 18 months. The startup expects the aircraft to run on hydrogen starting in 2025.
- "It does feel like a contradiction, but at the heart of this project is upcycling existing planes and retrofitting them. This is the pragmatic approach, which means we won't lose time. We will build up the infrastructure, get the planes in the air, and swap in the engines when they are available," said Vince.
- The airline will first serve the Edinburgh-Southampton route before expanding to mainland Europe.
- The company is in the process of applying for an air operator's license from the U.K.'s Civil Aviation Authority.
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| 3 | | United Airlines is planning to reduce its November flight schedule by 3,000 flights, of which 700 were Newark Liberty (EWR) departures and arrivals. The airline's planned flight count for October and December remains unchanged. More: - The routes that would see the most reductions are between EWR and Washington Reagan, which will go from 520 flights in October to 482 in November, and EWR and Dallas-Ft. Worth, which will be reduced by 21 flights.
- Earlier this week, United reached a preliminary agreement after months of negotiations with the Air Line Pilots Association, with the decision to raise wages by 34.5% to 40.2% over a four-year period.
- Last week, United CEO Scott Kirby met with FAA Administrator Polly Trottenberg to discuss the mass delays and cancellations that affected 150,000 United customers.
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| 4 | | Stellantis revealed it signed $11.2B in semiconductor contracts through 2030. The automaker expects the chip shortages to reappear amid growing EV demand and geopolitical risks. More: - "We had multiple issues everywhere, and once we solved one topic, a new topic popped up," said Joachim Kahmann, who handles semiconductor procurement for Stellantis.
- The contracts would involve chipmakers NXP Semiconductors, Infineon Technologies, and Qualcomm, among others.
- Stellantis believes the chip shortages will increase due to the expansion of software functionality in electric vehicles.
- $STLA was up 0.43% for the day, and 1.63% WoW, at market close on Tuesday.
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| 5 | | Nissan issued a recall of 1.38 million vehicles across Kicks, Note, Serena, and Leaf models in the U.S., Europe, and Japan. The recalls are due to multiple issues, including sudden acceleration after ending cruise control. More: - Nissan is also recalling 6,434 Note Aura vehicles in Japan due to a problem with the right headlamp.
- The news comes within a week of Nissan's decision to invest $720M in Renault's EV spinout Ampere.
- Earlier this month, Honda issued a recall for over 124,000 vehicles in the U.S. due to a possible brake defect.
- In June, Toyota recalled 43,442 units of the RAV4 Prime and Lexus NX compact crossover in the U.S. due to a potentially damaged DC-DC converter that may short circuit.
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| 6 | | General Motors is reportedly pausing production of its BrightDrop electric vans due to battery supply shortages. "Sales are through the roof. Things are good, but we just don't have batteries," said the chair for Unifor Local 88, Mike Van Boekel. More: - GM develops batteries through its joint venture with LG Chem in Ohio. Its battery plant in Tennessee is under construction, and its Michigan facility is not expected to be ready until the end of 2025.
- The automaker currently assembles BrightDrop vans at its site in Ingersoll, Canada, having begun production of the Zevo 600 at the end of 2022.
- The smaller Zevo 400 van is expected to begin production by the end of the year.
- BrightDrop's customers include FedEx, Hertz, Walmart, Verizon, and Merchants Fleet, among others.
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- Rivian filed a patent for a vehicle-to-vehicle pass-through charging system.
- Ohio announced the first 27 fast charger locations as part of the earmarked total of $18M in projects stemming from funds from the National Electric Vehicle Infrastructure program.
- Rocket Lab launched seven satellites and recovered its booster after an ocean splashdown.
- Ford filed a patent for a pet detection system using facial recognition technology.
- Malaysian Prime Minister Anwar Ibrahim announced that Geely is planning to invest $10B to turn Tanjung Malim into an auto manufacturing hub.
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 | 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 Aaron Crutchfield | |
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