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| Hey Insiders — Today we're bringing you the latest on May Mobility's autonomous shuttle and the Ford F-150 Lightning production restart. Scroll down for news on General Motors' recall. Let us know which areas you would like us to cover next. Thanks for reading! Nicolas
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| 1 | | Virgin Galactic widened its net loss for Q2 to $134.3M from a net loss of $110.7M during the same period in 2022. The company, however, increased its revenue to $1.87M following its first commercial spaceflight, up from 357,000 in Q2 2022. More: - Virgin Galactic carried 13 research payloads and three crew members from Italy's Air Force and National Research Council as part of its first commercial spaceflight on June 29, 2023.
- Virgin expects to launch its second commercial flight on August 10.
- As of June 30, the space company had $358.3M in cash and cash equivalents, up by $56M from the same period in 2022.
- $SPCE was down 4.35% for the day but up 0.76% WoW at market close on Wednesday
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| 2 | | May Mobility announced its plans to launch autonomous shuttles for people 65 and older or those with disabilities in Detroit. The company plans to have human operators assisting riders. More: - The program is part of a $2.5M contract between May Mobility and the city of Detroit.
- The autonomous vehicles company plans to begin testing in the fall and launch the shuttles in the spring of 2024.
- The project received funding via the Department of Transportation's Automated Driving System Demonstration Grant.
- In April, May Mobility received $3M from the Michigan Business Development Program to partly fund its $18M R&D and headquarters plan.
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| 3 | | Ford restarted production for the F-150 Lightning after a six-week pause due to factory upgrades. The automaker's chief customer officer Marin Gjaja said Ford has "about 45 days' worth" of orders for the electric truck. More: - Ford expects modest sales of the F-150 Lightning until a ramp-up in production after September.
- The Rouge Electric Vehicle Center in Dearborn, Michigan, is expected to reach a production output of 150,000 vehicles per year.
- Ford's manufacturing director, Debbie Manzano, confirmed the automaker hired 1,200 new employees to work on production, who are expected to undergo three weeks of training.
- $F was down 2.35% for the day on Wednesday afternoon.
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| 4 | | Miami International Airport (MIA) increased its passenger count by 2.6% YoY to 26.2 million in H1. The airport is projecting 52 million passengers for 2023. More: - American Airlines revealed its plans to increase seat capacity by 10% this winter. The airline currently offers flights from Miami to 150 destinations, including 50 international airports.
- Alaska Airlines announced a daily service from Portland to MIA starting in November and an expansion to its Seattle-Tacoma International to MIA schedule.
- Norse Atlantic added flights from Miami to Paris-CDG and Berlin, as it plans to relocate all its South Florida flights to MIA.
- The Miami-Dade County Board of Commissioners approved a 114,000-sq.ft. next to AAR Corp's hangar at the airport.
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| 5 | | On Tuesday, General Motors issued a recall for 900 vehicles after an incident in Brazil involving Takata airbag inflators. The recall includes 767 vehicles sold in the U.S., 101 units in Canada, with the remainder in other countries. More: - GM's recall involves the 2013 Chevrolet Camaro, Sonic, Volt, Buick Verano, and the TRAX in Canada.
- "GM is taking this field action out of an abundance of caution," said the company.
- There have been more than 30 deaths globally since 2009, of which 26 were in the U.S., involving Tanaka airbags unleashing metal shrapnel; however, none of the vehicles were from General Motors.
- The news follows a 2020 recall by GM of 7 million vehicles with model years from 2007 to 2014 equipped with Takata airbags.
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| 6 | | Less-than-truckload carrier Yellow's logistics arm laid off its employees (100 to 150 people). This follows the subsidiary's parent company stopping operations, laying off non-union workers, and notifying union workers it would be filing for bankruptcy. More: - The news follows failed negotiations between Yellow and Teamsters, with the company suing the union for $137M, alleging it blocked modernization and stopped generating $1.5B in enterprise value.
- Earlier this week, the company was reportedly close to receiving debtor-in-possession financing from Apollo Global Management, one of its current lenders.
- Yellow has $1.5B in outstanding debt.
- $YELL was down 16.15% to $3.27 for the day on Wednesday at market close.
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| 7 | | Quick Hits: - The AWS Cookbook - packed with practical insights and hands-on examples - is a must-have for your cloud toolkit.*
- Nikola Motor received an order from J.B. Hunt for 10 battery-powered and three fuel-cell trucks.
- Oakland International Airport completed an $11M Terminal 2 security exit.
- Subaru announced it is targeting the sale of 600,000 EVs for 50% of its total by 2030.
- Auto supplier BorgWarner reported $4.52B in revenue for Q2.
- How to score a spoke-tacular deal on your next set of wheels. Upway will deliver a top-notch e-bike right to your door for up to 60% less than retail. Use code INSIDE for $150 off.*
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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 Christopher Hachey | |
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