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| 1 | | Ford filed a patent with the USPTO for an advanced assist handle assembly that could adjust vehicle settings based on passenger comfort levels. The handle is ideated to include a built-in display and inductive charger. More: - The smart handle would also be able to identify if a person has physical limitations through image recognition in order to reel out for assistance.
- The patent was filed by Ford Global Technologies on May 27, 2022, and published on Aug. 29 of this year.
- The inventors included Stuart Salter, Hussein Berry, Brendan Diamond, Lucretia Williams, Annette Lynn Huebner, and Benjamin Yilma.
Zoom Out: - Ford stock closed up 2.84% for the day and +1.23% WoW on Friday.
Q: What new features would you like to see in future vehicles? Join the conversation here. |     | |
| 2 | | Cruise ship company Virgin Voyages announced it raised a $550M investment round led by Ares Management. Virgin Voyages also announced that its founding CEO, Tom McAlpin, stepped down from the role and will take on the chairman position. More: - Nirmal Saverimuttu, who served as Virgin Voyage's president and chief experience officer, will assume the role of CEO.
- The company confirmed last week that its fourth cruise ship, Brilliant Lady, will not be available for service at the end of 2023 due to supply chain, construction, and staffing shortages. Its Scarlet Lady ship is set to undergo a refurbishment.
- The new round included participation from Bain Capital and Virgin Group.
- Including the latest round, Virgin Voyages has raised a total of $1.8B since 2014.
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| 3 | | General Motors is recalling approximately 10,000 charging cords supplied by Webasto for the Chevy Bolt EUV in the U.S. The automaker told the NHTSA the charging cords contained "incorrect software and may fail to discontinue charging if the ground connection is lost." More: - The issue could pose the risk of an electrical shock of 1/40 of a second in limited circumstances, per the automaker.
- GM said it would contact Chevy Bolt EUV owners via email and via a letter to be mailed on Oct. 16.
- Vehicles built after September 2022 would be unaffected as they were not provided third-generation Webasto charging cords.
- GM stock closed up 1.17% but down 1.88% WoW on Friday.
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| 4 | | U.K.-based fleet charging startup Zenobē raised £900M ($1.12B) led by KKR. The company plans to use the funds to fuel expansion in its home market, as well as North America, Europe, Australia, and New Zealand. More: - Zenobē is seeking a capacity of 1.2 GW of storage in the U.K. by 2026 to support charging for 4,000 electric buses and commercial vehicles.
- In North America and Australia, the company is planning to have a combined capacity of 2.5 GW by 2030.
- Zenobē is looking to build two battery storage sites, in Kilmarnock South and Eccles, and expand its current site in Blackhillock, Scotland.
- Other investors in the round include Infracapital, Jera, and TEPCO Power Grid.
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| 5 | | Cambridge-based Echion, the developer of niobium-based battery anode materials, announced an investment of an undisclosed amount from Volta Energy Technologies. Echion expects the investment to help meet demand for batteries in North America, China, South Korea, and elsewhere in APAC. More: - The company currently has an agreement with the world's largest niobium miner, CBMM, for the supply of 2,000 metric tons per year of "innovative anode material" by 2024.
- This marks Volta Energy's first investment in a European company.
- Echion last raised a Series A extension of £10M (~$12.5M) led by CBMM and Business Growth Fund in April 2021.
Zoom Out: - Volta Energy announced last week its intention to invest $550M into a facility for copper foils for EVs in Granby, Quebec.
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| 6 | | China-based EV battery manufacturer Gotion High-Tech announced its plan to invest $2B for the construction of a gigafactory in Manteno, Illinois. Gotion, which also has a presence in Fremont, California, began building an LFP battery factory in Vietnam in November in collaboration with VinFast. More: - The Illinois factory, 50 miles from Chicago, will be situated on a 150-acre site and will focus on the production of lithium-ion cells, battery packs, and integrations with energy storage systems.
- The Maneno facility is expected to have an output of 10 GWh of lithium-ion packs and 40 GWh of li-ion cells.
- Illinois has committed $125M in funds for Gotion, with the entire incentives package being estimated at $536M, including the eligibility for $213M in tax breaks.
- The requirements for tax benefits over the next 30 years would be contingent on Gotion investing a minimum of $1.9M and creating 2,600 full-time jobs with pay equivalent to 120% of the average wage in Kankakee County.
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| 7 | | Quick Hits: - How much should you pay influencers in Q4? Get the benchmarks in this blog.*
- Tesla began installing the Powerwall 3 despite not officially unveiling the product yet.
- Toyota plans to recycle water from a hydrogen fuel-cell plant for a car wash for incoming vehicles at the Port of Long Beach.
- Ford plans to launch an offroad version of the Mustang Mach-E.
- British Airways is testing a new boarding system, introducing Group 0 for its highest-status frequent flyers.
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Term of the Day 51% attack: A 51% attack occurs when an entity takes control of more than 50% of a blockchain network's hash rate. 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 | |
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