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| Here is your Transportation briefing: - 🚗 Rivian announced a 10% staff reduction.
- 🤖 Waymo's expansion has been put on hold.
- 🇯🇵 Uber announced plans to introduce self-driving sidewalk robots in Japan.
Thanks for reading! Robel
p/Robel-Kelkile | |
| 1 | | Ford and UAW Local 62 reached a tentative deal, averting a strike at Ford's profitable Kentucky truck plant. Prior to the deal, the UAW had issued a warning that close to 9,000 employees at Ford's Kentucky Truck Plant were poised to walk off the job on Friday should local union demands remain unresolved. More: - The deal addressed local union demands concerning skilled trades, ergonomics, and health and safety.
- Ford expressed contentment with reaching the agreement.
- The Louisville plant is Ford's largest in terms of both employment and revenue.
- Dozens of local contracts across major automakers Ford, General Motors, and Stellantis are still under negotiation, dealing with plant-specific issues distinct from national agreements.
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| 2 | | Rivian announced it is reducing its salaried workforce by 10% and implementing layoffs among non-manufacturing hourly employees as part of cost-cutting measures. Despite doubling its EV production in 2023, Rivian still incurred substantial losses, leading to plans to shut down its Illinois factory for upgrades and anticipating further losses in 2024. More: - The move marks the third round of layoffs for Rivian since July 2022, following previous reductions of 6% in workforce.
- Despite doubling EV production in 2023, Rivian incurred over $5.4B in losses for the year.
- The company plans to shut down its sole factory in Normal, Illinois, in mid-2024 for upgrades aimed at improving production rates by about 30%.
- Rivian anticipates further losses of around $2.7B in 2024 and intends to continue its cost transformation program, which includes changes to vehicle design and engineering for efficiency.
- The announcement of layoffs and profit loss guidance caused Rivian shares to decline more than 15.6% in after-hours trading.
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| 3 | | Amsterdam-based Fastned has secured over €27.5M ($29.8M) in funding through new bonds and extensions from existing investors to expand its fast-charging network across Europe. Founded in 2012, Fastned operates over 280 fast charging stations across multiple European countries. More: - Drivers can add up to 300km of range in about 15 minutes, utilizing renewable energy from solar and wind power.
- The company offers both subscription and pay-on-the-go services, with pricing ranging from €0.65 to €0.90 per kWh, positioning itself competitively in the fast-charging market.
- Co-founder and CEO Michiel Langezaal emphasized the importance of accelerating infrastructure development to support the anticipated growth of electric vehicles.
- With European EV registrations surpassing 2 million units in 2023, the demand for EV charging infrastructure is set to increase, presenting a significant opportunity for companies like Fastned.
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| 4 | | Uber announced it is launching a service in Japan that will utilize self-driving sidewalk robots to deliver food. The autonomous sidewalk robot, Model C, equipped with advanced sensors and software, will be employed for the delivery service, marking Uber and Cartken's first international expansion outside the United States. More: - Uber, Mitsubishi Electric, and Cartken announced the introduction of a food delivery service in Japan employing self-driving sidewalk robots.
- The service, operated through the Uber Eats app, will commence in a designated area of Tokyo by the end of March, with operational hours to be disclosed closer to the launch date.
- Cartken's Model C robot, featuring a 27-liter cargo bin and advanced sensors, will navigate urban environments at a speed of about 3.3 miles per hour to fulfill deliveries.
- Shoji Tanaka, senior general manager at Mitsubishi Electric, views robot delivery as an effective solution to future logistics challenges and anticipates collaboration with various facilities for expanded delivery capabilities.
Note: Inside.com Founder and CEO Jason Calacanis is an investor in Uber. | | | |
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| 5 | | Waymo's bid to expand its robotaxi service in Los Angeles and San Mateo counties has been halted for 120 days by the California Public Utilities Commission's Consumer Protection and Enforcement Division. Despite this setback, Waymo noted it continues to operate driverless vehicles in San Francisco. More: - The California Public Utilities Commission's Consumer Protection and Enforcement Division suspended Waymo's application to expand its robotaxi service for further staff review.
- Waymo filed for review and approval of its updated safety plan and an expansion of its operational design domain, seeking to expand operations in parts of Los Angeles and additional areas of the San Francisco Peninsula, including access to the San Francisco International Airport.
- San Mateo County Board of Supervisors Vice President David J. Canepa welcomed the suspension, citing concerns over public safety and Waymo's lack of engagement regarding expansion plans in Silicon Valley.
- Waymo has initiated outreach efforts with various government and business organizations, including officials in cities throughout San Mateo County and local chambers of commerce, as part of its expansion plans.
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| 6 | | One of SpaceX's senior executives, Tom Ochinero, has resigned from his role as senior vice president of commercial business. Ochinero has been with SpaceX for over a decade and has played a significant role in generating over $1B in annual revenue. More: - Ochinero's tenure at SpaceX, which began as an engineer, saw him lead the company's efforts in selling rockets and astronaut flights, contributing to significant revenue growth and market share expansion.
- Stephanie Bednarek, SpaceX's senior director of commercial launch sales, is set to assume Ochinero's role at the company.
- Ochinero's departure coincides with SpaceX's ongoing activities, including the upcoming third test flight of its Starship rocket and the expansion of its Starlink satellite internet business.
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 | 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 | |
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