| |
| Here is your Thursday Transportation breifing: - 💰Land Moto secured a $3M investment.
- ⚡Biden administration allocated $623M in grants to 22 states and Puerto Rico for EV network expansion. 🚗
- 🇸🇬 Singapore's transport minister, S Iswaran, stepped down amid corruption charges. 👋
Thanks for reading! Robel
p/Robel-Kelkile | |
| 1 | | German startup Vay has launched its "teledriving" solution in Las Vegas, Nevada, allowing users to rent cars delivered by remote drivers. The service, which is Vay's first in the U.S., allows users to take delivery, drive to their destinations, and then have the teledriver return the car to Vay's facility. More: - The company, with $110M in funding, emphasized safety and rigorous tests for its teledrivers and compliance with local laws.
- It has previously conducted tests with remote drivers and no one sitting behind the wheel in Europe and the U.S.
- Vay positions its model as a more cost-effective and efficient alternative to traditional robotaxis, citing challenges faced by major players like General Motors' Cruise in 2023.
- The startup noted it believes its approach, offering a cheaper service than ride-hailing, provides a different and viable option in the evolving mobility technology space.
|     | |
| 2 | | Cleveland-based electric motorcycle startup Land Moto has raised $3M to further develop its battery design technology, in addition to the $7M raised last summer. The company, known for its electric motorbike called the District, plans to expand its battery capabilities to serve beyond transportation. More: - The District motorbike features Land-designed batteries that provide 80-100 miles of range and can be used as a power source for various applications.
- The Core batteries, available in sizes up to 5.5 kWh, come with a new accessory called the Power Tap, offering a 400W outlet and four USB-C plugs for off-grid purposes.
- The new funding aims to support Land Moto investing more heavily in battery manufacturing and design, allowing them to innovate and improve battery functionality.
| | | |
| A message from our sponsor, TruEra. |  | | Do you have European customers? Here's how your AI should comply! Do you use or build an AI system? Are you a US or Canadian firm doing business in Europe? Then, you need to understand the new EU AI Act! Join this expert panel discussion on the impact of the new EU AI Act on North American firms, and you will learn: - The “high-risk applications” subject to the EU AI Act, from HR and education to credit, law enforcement and critical infrastructure
- What we know about the EU AI Act law so far and what’s still ambiguous
- The core operational capabilities that firms must build to ensure compliance at scale
The panel will bring together experts from regulatory, standard-setting and operational backgrounds. Can’t make it to the live webinar on January 30? Register anyway and we’ll send you the recording. Register for webinar | |
|
| 3 | | The Biden administration has allocated $623M in grants to 22 states and Puerto Rico to build electric vehicle charging and hydrogen fueling infrastructure. The funding is part of the $7.5B push for a national EV charging network outlined in the Infrastructure Investment and Jobs Act signed in 2021. More: - Two programs, the $2.5B Charging and Fueling Infrastructure discretionary grant program and the $5B National Electric Vehicle Infrastructure program, contribute to the initiative.
- U.S. Transportation Secretary Pete Buttigieg aims for 50% of new passenger vehicle sales in the U.S. to be electric by 2030.
- The grants include funding for 47 infrastructure projects, with major projects like a $56M electric freight corridor in California and $70M for Texas Hydrogen and Electric Freight Infrastructure.
- Other grants include $15M to the Maryland Clean Energy Center, $15M to Energy Northwest in Washington state, and $1.4M to the Chilkoot Indian Association in Alaska for EV charging station projects.
| | | |
| 4 | | Singapore's transport minister, S Iswaran, has resigned after being charged with corruption and other offenses by the country's anti-graft agency. Iswaran pleaded not guilty to 27 charges, including obtaining gratification as a public servant, corruption, and obstructing justice. More: - Iswaran is alleged to have received tickets to the Singapore Grand Prix, soccer matches, and shows in the U.K. from billionaire Ong Beng Seng.
- Acting transport minister Chee Hong Tat will be promoted to full minister, taking over Iswaran's duties.
- Iswaran has offered to return the salary and allowances received since the start of the probe in July despite maintaining his innocence.
- The charges against Iswaran make him the first cabinet minister in Singapore to be charged with corruption since 1986, emphasizing the rarity of political scandals in the country known for its clean government image.
| | | |
| A message from our sponsor, Modern Treasury. |  | | Say goodbye to manual reconciliation. Nearly every business has encountered the challenges of reconciliation. To reconcile transactions, many companies rely upon manual operations and dated tools, which can be error-prone and difficult to maintain. Unless a business automates their reconciliation processes, as their payments grow, so do their reconciliation pains. In our latest eBook, we provide a complete overview for finance, product, and engineering leaders who want to automate their reconciliation. Download the eBook to learn: - How reconciliation works and what makes it so challenging at scale
- How to decipher your bank data for reconciliation
- The steps to automate your reconciliation processes
Download Now | |
|
| 5 | | Electric boat startup Navier has secured its first official pilot program with payment platform Stripe to transport employees from San Francisco's outskirts to the downtown area using its hydrofoiling watercraft. The six-passenger N30 electric hydrofoiling boat aims to offer a smoother, quieter alternative to the hour-long car commute, with the pilot program focusing on refining services and addressing commuter behaviors. More: - Stripe will pay Navier for employees to be shuttled from Larkspur to its office near Oyster Point, cutting commute time in half.
- The pilot program's goal is to identify critical commuting routes, gain insights into commuter behaviors, and fine-tune services, paving the way for potential scale-up in the future.
- Navier plans to refine onboard systems, including automated collision detection and autonomous navigation technologies, as it works toward larger vessels, such as the 30-passenger model currently in development.
| | | |
| 6 | | General Motors announced it is recalling 66 electric delivery vans from its BrightDrop subsidiary due to reported fires in the front drive units. The recall affects larger EV600 vehicles built between Nov. 24, 2021, and May 24, 2022. More: - The automaker noted it is investigating the root cause but suggests that a drive pinion piercing the drive unit casing might create an oil leak, leading to fires during heavy use.
- GM shipped 497 BrightDrop vans in total in 2023, with customers including FedEx and Walmart.
- The recall doesn't impact BrightDrop's smaller EV400 vans.
- The recall follows GM's re-absorption of BrightDrop a few months ago, aiming to streamline its electric commercial vehicle efforts.
- This is the third recall for BrightDrop vehicles, with previous recalls related to water seal issues in the high-voltage battery pack and problems with one of the van's airbags.
| | | |
| 7 | | QUICK HITS - Are you creating the unique user journeys your customers demand? You can by Mastering Personalization with AI.*
- Sixt plans to acquire as many as 250,000 vehicles from Stellantis for its rental fleets in Europe and North America.
- The president of the UAW criticized Stellantis for laying off more than 500 workers.
- Wing, Alphabet's drone-powered delivery company, announced plans to unveil a larger aircraft with the capability to tow heavier packages for customer deliveries.
- A group of U.S. airlines noted they are urging the government to take action to address challenges in air traffic.
*This is a sponsored post. | | | |
| Upcoming Events | | MAR
7 | | Alternative investment assets to know in 2024. | | | | | | * This is a sponsored event | | | |
 | Writer | | Born and raised in the Bay Area, Robel Kelkile is passionate about all things tech, venture, and financial education. He has previously served both universities and state governments in their engagement strategy and tracking legislation. | | This newsletter was edited by Aaron Crutchfield | |
| |
| |
|
| |
|
| |
Comments
Post a Comment