| |
| Here is your Thursday Transportation briefing: - 🚗 Lyft introduced a new benefits package for drivers.
- 🤖 Project 3 Mobility concluded a Series A investment to develop robotaxis.
- 🌆 Wheely, a luxury ride-sharing company, announced its debut in Dubai.
Thanks for reading! Robel
p/Robel-Kelkile | |
| 1 | | Wheely, a luxury-focused ride-sharing company, announced it is launching in Dubai to resume its international expansion halted by COVID-19. The move looks to capitalize on Dubai's status as a hub for affluent individuals. More: - Wheely will expand into Dubai to serve wealthy clients, initially offering rides in BMW 5 Series cars and considering future adoption of BMW's i5 electric variant.
- Dubai's appeal as a destination for affluent individuals, including European families and entrepreneurs, presents an opportunity for Wheely to establish itself in the high-end ride-hailing market.
- The move challenges Uber-owned Careem's dominance in Dubai's ride-hailing sector, which has faced financial struggles under Uber ownership.
- Wheely aims to distinguish itself with luxury services, including trained chauffeurs, personalized requests through its app, and a bespoke chauffeur academy program.
- Despite its premium positioning, Wheely faces competition from other luxury ride-hailing services like Blacklane.
Note: Inside.com Founder and CEO Jason Calacanis is an investor in Uber. |     | |
| 2 | | Guided Energy, a Parisian startup specializing in EV fleet management optimization, has secured $5.2M in funding. The round was led by Sequoia and Dynamo Ventures. More: - The company aims to optimize EV fleet management, recognizing the increasing importance of electric vehicles in the context of declining fossil fuels and government incentives favoring electrification.
- Despite numerous startups focusing on EV charging networks, the fleet management sector remains relatively untapped, presenting an opportunity for Guided Energy.
- Guided Energy seeks to address the challenge of a fragmented ecosystem by providing end-to-end oversight, unifying EVs, on-site chargers, external networks, and legacy fleet management systems.
- The company's approach emphasizes interoperability and collaboration among various stakeholders to streamline operations and support decarbonization efforts.
| | | |
| A message from our sponsor, Top Class Actions. |  | | Visa and Mastercard Agree to Historic $5 Billion Settlement! In a groundbreaking move for the payment history, Visa and Mastercard have come to a historic $5 billion settlement, marking a pivotal moment for small business owners. This landmark resolution signals a commitment to fairness, transparency, and a more level field for business across. Are you someone who: - Is a business owner
- Utilized Visa or Mastercard credit or debit cards from Jan. 1, 2004 to Jan. 25, 2019
You may be eligible for a share of a $5.6 billion settlement!
Act Now | |
|
| 3 | | Project 3 Mobility has closed its Series A investment round, raising a total of €100M from private investors. The move comes as the company looks to develop its own autonomous electric robotaxi and mobility service. More: - P3 is focused on developing autonomous electric robotaxis and specialized infrastructure for a mobility service.
- Despite significant investments and European Commission approval of a grant worth €179.5M, the company's progress remains undisclosed due to its operation primarily in stealth mode.
- The timeline for the pilot robotaxi service in Zagreb, initially set for the end of 2024, has been shifted to a 2026 launch, with limited information available on the company's development milestones.
- Key investors in P3 include TASARU Mobility Investments, Kia, Rimac Group, SiteGround, Infinium, Neurone, and Elaf Auto, indicating substantial financial backing for the project.
| | | |
| 4 | | Toyota Motor announced investing $1.3B in a Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market. The plant is scheduled for production between late 2025 and early 2026. More: - This investment is part of Toyota's broader plan to invest $35B in battery-electric vehicles through 2030, highlighting the company's commitment to electrification.
- While details about the upcoming vehicle are limited, it is anticipated to compete with current models like the Rivian R1S and Kia EV9 in the SUV segment.
- Toyota's investment in EVs comes amidst slower-than-expected consumer adoption of electric vehicles, prompting some automakers to adjust their investment plans.
- Despite its focus on EVs, Toyota continues to invest in other technologies such as hybrids, plug-in hybrids, and hydrogen fuel cells, emphasizing a multi-faceted approach to achieve carbon neutrality.
| | | |
| 5 | | Lyft announced it will ensure its drivers receive at least 70% of the fares riders pay. As part of its efforts, Lyft will provide a benefits package including pay breakdowns, incentives for using electric vehicles, and extra earnings opportunities for drivers accepting scheduled pick-ups. More: - Lyft noted that, on average, drivers earn about 88% of rider payments after taxes and fees but acknowledges that some drivers earned less than 70% of rider payments on a weekly basis last year.
- CEO David Risher acknowledged the company's efforts to address consistent feedback on earnings, deactivations, and safety concerns from drivers.
- Despite ongoing battles over worker classification, a new rule from the Biden administration could potentially reshape the benefits for rideshare drivers.
| | | |
| 6 | | EHang, a China-based eVTOL aircraft developer, has revealed the retail price for its unmanned aerial vehicle EH216-S: $332,000. The company's EH216-S became the first eVTOL aircraft globally to receive type certification from the Civil Aviation Administration of China (CAAC) on Oct. 13, 2023, marking a significant milestone in the industry. More: - The pricing decision is driven by the company's assessment of market needs and the rapid growth of the low-altitude economy, aiming to enhance the value of electric vertical takeoff and landing aircraft.
- The CAAC certification signified that EH216-S meets safety standards and airworthiness requirements set by the CAAC, bolstering confidence in EHang's technology and capabilities.
- The pricing takes effect on April 1.
| | | |
| 7 | | QUICK HITS - Invest in private credit deals with up to 20% APY and deal durations under 12 mos. Accredited investors can get started with just $500.*
- The UAW reported that a significant portion of employees at the Volkswagen plant in Tennessee have signed union authorization cards.
- According to an attorney representing the Metropolitan Transportation Authority of New York, drivers may face a fee of $15 to enter Manhattan as early as mid-June, as discussed during a hearing regarding New Jersey's legal challenge against the initiative.
- An environmentalist examining Mexico's Maya Train project raised concerns about potential harm to ancient caves.
- BYD secured a 20% share of Japan's electric vehicle imports in January, following its launch in the country just last year.
- Archer Aviation announced it is currently constructing three Midnight aircraft that adhere to regulations.
*This is a sponsored post. | | | |
| Upcoming Events | | MAR
7 | | Portfolio Diversification - Learn from knowledgable experts on the latest trends in alternative investment assets like private equity, crypto, real estate, and the art market. | | | | | | * 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 | |
| |
 | Top Class Actions has helped law firms across the country successfully find plaintiffs for class action lawsuits & mass torts since 2008. | |
|
| |
Comments
Post a Comment