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| 1 | | On Thursday, Hyundai and Kia announced the adoption of Tesla's North American Charging Standard ports for vehicles manufactured starting in 2024. The models would gain access to 12,000 Tesla Superchargers in the U.S., Canada, and Mexico beginning in Q1 2025. More: - The move follows the adoption of NACS by Ford and General Motors, the latter of which estimates $400M in savings from the adoption of Tesla's charging technology.
- Hyundai is also planning to build its own network of 30,000 charging stations in North America.
- The automaker sold 7,905 Ioniq 5 electric SUVs in the U.S. during Q2 2023, comprising an increase of 6% YoY.
- $TSLA was up 4.80% WoW on Friday morning.
Q: Would ubiquitous adoption of Tesla's North American Charging Standard across companies reduce range anxiety concerns for prospective EV buyers? Join the conversation here. |     | |
| 2 | | Reusable rocket company Stoke Space announced it raised $100M led by Industrious Ventures. The funding comes within weeks of the test launch of the Hopper 2 prototype. More: - "We're trying to position ourselves to provide the best value to the satellite industry, in order to really shorten the time from factory to revenue," said Stoke co-founder and CEO Andy Lapsa.
- Stoke expects the Nova reusable rocket will be able to deliver up to 5,000 kilograms to low Earth orbit, which would categorize it between Rocket Lab's Electron and SpaceX's Falcon 9 in terms of payload capacity.
- The Washington-based company has 95 employees across an engineering facility in Kent and a test facility in Moses Lake.
- The round included participation from Bill Gates' Breakthrough Energy, Y Combinator, the University of Michigan, and Toyota Ventures, among others.
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| 3 | | Solar car company Lightyear announced it is pausing its plans to produce its second model as it pivots to manufacturing solar modules for external purposes. This follows the same strategy from its competitor, Sono Motors, prior to its bankruptcy in May. More: - Lightyear, which declared bankruptcy earlier this year, said it plans to lay off an undisclosed number of employees. Sono Motors had laid off 300 people during its pivot.
- Despite its change of focus, Lightyear is still negotiating with South Korean firm Sunbo to secure financing for the production of the Lightyear 2.
- Lightyear had reached small-scale production for the 0 model, which was priced at $250,000, at the end of last year.
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| 4 | | The National Highway Traffic Safety Administration said during a public hearing that the government should require the recall of 52 million airbag inflators by ARC Automotive and Delphi Automotive due to the risk of metal fragments being released. Delphi Automotive, an Autoliv subsidiary, manufactured 11 million of the airbags under license from ARC, which directly produced the remainder. More: - "The evidence shows without a recall more people will be injured or killed," said NHTSA enforcement officer Cem Hatipoglu.
- The NHTSA has previously demanded a voluntary recall in May, which ARC refused. At that time, GM agreed to recall 1 million vehicles with ARC airbags after an incident caused facial injuries to a driver.
- On Thursday, however, GM said "the evidence and data presented by NHTSA at this time does not provide a basis" for a new recall.
- The airbags were used for vehicles by 12 automakers from the year 2000 through early 2018, including General Motors, Ford Motor, Mercedes-Benz, BMW, and Hyundai.
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| 5 | | Umob, a Rotterdam-based mobility-as-a-service startup, announced it raised a €6M (~$6.3M) round. The company collects anonymized data from operators for municipalities and other enterprises. More: - "Offering a large and diverse range of services is only one aspect important to the success of shared transport. Practical elements such as parking spaces, hotspots, and nuisances are at least as important," said the startup's co-founder, Bibi Jorissen.
- Umob was co-founded by Raymon Pouwels, former CEO of moped-sharing startup Go Sharing, which was sold to Turkish micro-mobility operator BinBin in February.
- Umob previously raised €2M ($2.1M) upon launching in 2022.
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| 6 | | Mack Trucks announced a 19% pay hike for over five years for workers following negotiations with the United Auto Workers union. Mack Trucks was founded in 1900 and bought by Volvo Group in 2000. It sells medium- and heavy-duty trucks in 30 countries. More: - The agreement includes a $3,500 ratification bonus, additional vacation for some employees, upgraded retirement benefits, and a reduction in the period required to obtain the maximum pay.
- The deal includes $1,000 in annual payments to 401(k) plans.
- The announcement comes as the UAW is planning to expand its strike to Ford's Chicago assembly plant and GM's facility in Lansing, Michigan.
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| 7 | | Quick Hits: - LiquidPiston's engines are up to 10x smaller and 30% more fuel efficient. Invest as they disrupt the $400B combustion engine market.*
- Charging infrastructure manufacturer Ebusco launched a new bidirectional energy storage and charging solution for buses.
- 77% of U.S. air traffic control is understaffed.
- Electric aviation company Beta Technologies partnered with Solvay for the procurement of composite materials.
- Qantas Airways said delays stemming from a failed IT system migration could last another two weeks.
- These are the 5 core strategies for cloud innovation that showcase how digital native businesses are harnessing cloud innovations. Read now.*
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Term of the Day Bottom of funnel: Bottom of funnel (BOF) is a marketing term used to describe the last stage in a marketing funnel. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
INSIDE TRANSPORTATION LEADERBOARD (30 DAYS) |
 | 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 Vibha Chapparike | |
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