| |
| Hey Insiders — Today we're bringing you the latest on Serve Robotics' and VinFast's SPACs. Scroll down for Lyft's advertising plans. Let us know which areas you would like us to cover next. If you find this newsletter helpful, please share it with a friend or colleague. Thanks for reading! Nicolas
p/mobilitynerd | |
| 1 | | Sidewalk robot delivery company Serve Robotics is planning to go public following a merger with Patricia Acquisition Corp. Prior to the merger, Serve raised $30M through a round led by Uber*, Nvidia, and Wavemaker. More: - Serve Robotics plans to use the funds to launch new markets in the U.S.
- Serve first started as Postmates' robotics division. Following Uber's $2.65B acquisition of Postmates in 2020, Serve Robotics spun out as a separate company.
- The delivery robot company previously raised $10M from Nvidia in March 2022.
*NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber. |     | |
| 2 | | On Thursday, shareholders of Black Spade Acquisition, a Hong Kong-based SPAC, voted to approve a merger with Vietnamese EV company, VinFast. The automaker plans to go public on the Nasdaq exchange on or around Aug. 15 under the ticker symbol "VFS." 
More: - The news comes after 80% of Black Spade shareholders divested from the stock in July.
- The merger values VinFast at $23B, ahead of Rivian's market cap of $20.42B and Lucid's $13.49B, but below Ford's $48.39B and General Motors' $46.91B.
- VinFast had a net loss of $598M in Q1, decreasing by 49% YoY.
- The company expects to break even through the sale of 50,000 EVs as soon as the end of 2024.
Q: VinFast shipped 3,000 EVs to the U.S. as it launched sales of the VF8 in March. How do you think VinFast will perform in the U.S. market amid increasing competition in the EV space? Let us know here. | | | |
| A message from our sponsor, Masterworks. |  | | Billionaires wanted it, but 54,578 everyday investors got it first… and profited When incredibly valuable assets come up for sale, it's typically the wealthiest people that end up taking home an amazing investment. But not always… One platform is taking on the billionaires at their own game, buying up and securitizing prized blue-chip artworks for its investors. In just the last few years, its investors have realized annualized net returns of 17.8%, 21.5%, 35% and more from these opportunities. It's called Masterworks. Their nearly $1 billion collection includes works by greats like Banksy, Picasso, and Basquiat, all of which are collectively owned by everyday investors. When Masterworks sells a painting – like the 15 it's already sold – investors reap their portion of the net proceeds. Offerings can sell out in minutes, but as a trusted partner, Inside readers can skip the waitlist to join with this exclusive link. SKIP THE WAITLIST See important disclosures at masterworks.com/cd | |
|
| 3 | | Lyft is planning to add ads to its service via the app, rooftops, car tablets, and bike stations. Lyft has been reorganizing its focus, shutting down its in-house car rentals program in July, and more recently exploring the possible sale of its micro-mobility business. More: - The move follows Uber's launch of an ads business segment in October 2022.*
- "Lyft has a captive audience throughout their entire ride journey, waiting for their car, matching with their driver, and in-ride, and brands can now reach riders in relevant and tailored ways across our suite of Lyft Media products," said Lyft's chief business officer Zach Greenberger.
- The ads would show up by riders' ETA. In-car tables that display ads would enable drivers to request ad revenue sharing.
- Lyft has lined up Audible, Bilt Rewards, and Universal Pictures as its first ad partners.
*NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber. | | | |
| 4 | | On Thursday, Virgin Galactic launched its second commercial spaceflight carrying tourists. The Galactic 02 departed Spaceport America in New Mexico carrying two pilots and four passengers. More: - The flight surpassed an altitude of 262,000 feet, returning safely to Spaceport America.
- This constitutes the company's third spaceflight since May and its seventh overall.
- The passengers included British olympian Jon Goodwin; two winners of a charity fundraiser by non-profit Space for Humanity, Keisha Schahaff and Anastatia Mayers; and Virgin Galactic's chief astronaut instructor Beth Moses.
- Virgin Galactic claims 800 reservation holders. Prices currently go for $450,000 per seat, up from the $200,000 to $250,000 tickets sold for more than a decade ago.
| | | |
| A message from our sponsor, Surfer AI. |  | | It’s not a cheat code, but it sure feels like one. Skip a few steps with Surfer AI. Are you tired of writing content that never sees the light of day? 😣 Imagine investing money and time to create an article that gets lost on its way to page 1 of Google. Frustrating isn’t it? Repeating the same tired process that yields little to know results isn’t strategy, it’s silly/insane. Surfer AI combines cutting-edge AI writing capabilities and data-driven SEO optimization to catapult your content front and center. Boost your organic traffic, become less reliant on paid ads, and increase topical authority with Surfer AI. Our AI Writing Assistant analyzes 300,000 words from start to finish which enables: - Up-to-date information
- Fact checking
- Impact
Since Surfer AI bases its recommendations on the content that’s currently ranking, your chances of competing skyrocket. Accuracy. Power. Impact. Stop guessing. Start ranking. Try Surfer AI today! | |
|
| 5 | | Tesla filed to obtain the first environmental permits required to build its gigafactory in Nuevo León, Mexico. The automaker would begin with the construction of a warehouse. More: - Giga Mexico is estimated to have a total area of 260 hectares (642 acres).
- The first phase of construction is expected to cost approximately $90M.
- The environmental permit application describes the site in which the warehouse would be built as "covered with a vegetation type of Rosetophyllus desert scrub and Microphyllus desert scrub."
- Tesla's SVP for Automotive, Tom Zhu, expects the gigafactory to begin production in late 2024 to early 2025.
| | | |
| 6 | | Amazon reached an agreement with Eicher Trucks for 1,000 electric vehicles over the next five years. The retailer plans to use the vehicles for middle and last-mile delivery in India. More: - By the end of 2024, Amazon intends to deploy 50 trucks in Delhi, Manesar, and Gurugram.
- The trucks would feature "advanced digital capabilities" and custom cargo stacking configurations.
- Amazon has deployed electric vehicles to over 400 cities in India.
- The online retailer has a goal of attaining 10,000 zero-emission vehicles in India by 2025, which would also include electric rickshaws.
| | | |
| 7 | | Quick Hits: - Wiz surveyed security orgs at hyper-scaling enterprises to uncover how they're adapting in 2023 and beyond. Get the Cloud Security Workflow Handbook.*
- Boeing delivered 43 aircraft in July, down from 60 in June.
- Ford is delaying the production of the Cologne-built electric version of the Explorer due to new safety rules involving powertrains.
- Indonesia is expanding its timeline for automakers to qualify for EV incentives by two years, following investments by Neta EV and Mitsubishi Motors in the country.
- Li Auto selected BorgWarner to supply its drive module for the L8 and L9, marking the supplier's first drive module deal in China.
- The Dublin City Council is making its electric cargo bike for business programs permanent, including a 60% subsidy for 12 months.
- Join over 5,000 fast-growing companies around the world that trust Vanta to manage risk and prove security in real time. Inside readers get $1,000 off.*
*This is sponsored content. | | | |
| Upcoming Events | | AUG
17 | | Learn about streamlining SOC 2 compliance with Vanta and AWS. Join the webinar on Aug 17.* | | | | | | | OCT
16 | | Meet Our Fund 5, Building and Investing in AI | | | | | | | NOV
7 | | Join 300+ CCOs and senior leaders from Amex, Verizon, Hilton, Wells Fargo and more at Reuters Events: Customer Service & Experience East 2023.* | | | | | | * This is a sponsored event | | | |
Term of the Day Bridge financing: Bridge financing rounds are defined as interim financing that a startup raises between two rounds of financing. Question of the Week Do you share details about your salary with your coworkers? 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 Aaron Crutchfield | |
| |
 | Join 790,000+ people on the premier blue-chip art investing platform, Masterworks. Skip the waitlist.
| |
|
 | Content Google, your clients and your audience will love. Don’t just generate articles, generate traffic. | |
|
| |
Comments
Post a Comment