Our new Live Interview Series, Venturing In VC, premieres next week on Jan. 4, 2022. Venturing in VC is a live interview series where our host, Landon Campbell, interviews investors about how they broke into VC, their daily routines, views on the future, and lessons learned along the way. Who’s our first guest? None other than Turner Novak, Founder of Banana Capital — a founder-focused fund that invests anywhere from Pre-Seed to Pre-IPO with an average initial check size of $150,000-$300,000. Save your free seat to learn how Turner views the world and shares lessons he’s learned along his journey. Inside.com/vivc Venturing in VC is sponsored by SeedInvest — Fundraising isn’t easy, but it just got easier. Apply to start your raise on SeedInvest, or browse highly vetted startups to invest in. | |  Nicolas |  |
| |
 Hey readers — It was a busy year in transportation! As 2021 comes to an end, we are bringing you a recap of the year's top developments in EVs, autonomous vehicles, battery tech, micro-mobility, the airline industry, and eVTOLs. Electric Vehicles: - Global electric vehicle sales rose 80% in 2021. Volvo joined the industry pledge to phase out fossil-fuel vehicles by 2040, joining Ford, GM, and Daimler. Hyundai, which has not joined the pledge, shut down both its internal combustion engine R&D and its Genesis hydrogen fuel-cell teams.
- In November, China surpassed 400,000 electric vehicle sales per month. Year-to-date the most popular EV model in China is the Wuling Hong Guang Mini, followed by the Tesla models Y and 3.
- U.S. registered sales of electric vehicles between January and October reached 378,466, up 94% YoY. The best-selling models were the Tesla Model Y, followed by the Model 3 and the Chevy Bolt EV.
- In the past week, Tesla began deliveries of the Model X Plaid, which features three carbon-wrapped electric motors and speeds from 0 to 60 mph in 2.5 seconds.
- In October, Lucid Motors delivered its first Air Dream Edition sedans with 520 miles of range, the highest EPA rating.
- Earlier this month, Ford reported it had approximately 200,000 reservations for its upcoming F-150 Lightning electric pickup truck, the equivalent of three years of backlog.
Autonomous Vehicles: - In Q3, search giant Baidu began the expansion of its operating area for autonomous vehicle ride-hailing in Shanghai. In November, Baidu revealed its plans to expand its robotaxi service to 65 cities in China by 2025 and 100 by 2030. The company has over 10 million miles of L4 driving with Hongqi electric vehicles, up from 6.2 million from Q1 of this year.
- In September, Waymo and Cruise were selected by the California DMV to operate autonomous ride-hailing vehicles, joining Nuro.
- Nuro began California's first autonomous delivery service in collaboration with 7-Eleven convenience stores in Mountain View.
- Motional and Uber recently announced their plans to operate autonomous deliveries via modified Hyundai Ioniq 5 Level-4 AVs in Santa Monica, beginning in 2022. Note: Inside.com's founder and CEO, Jason Calacanis, is an investor in Uber.
- TuSimple successfully completed the world's first fully-autonomous semi-truck trip on an open road without a human in the vehicle. The Level 4 autonomous Class 8 truck drove a distance of 80 miles from Tucson to Phoenix, Arizona.
- In November, Walmart began daily operations of fully driverless Gatik box trucks without a safety driver between dark stores and a Neighborhood Market in Bentonville, Arkansas.
- Earlier this month, Mercedes-Benz was granted approval for its Drive Pilot Level-3 self-driving system in Germany, which will be included in S-Class and EQS sedans starting 2022.
| |
 SPACs & Valuations: - Rivian began trading on the New York Stock Exchange in November, briefly surpassing a $100B market cap. The electric pickup truck company temporarily became the second most-valuable vehicle company, after Tesla and ahead of GM, Ford, and Lucid. Rivian began rolling its first vehicles out of production in September, and by November, had delivered 156 R1T pickup trucks. Ford, which owns 12% of Rivian, canceled the development of a joint electric vehicle due to Ford's scaling of its own electric vehicles. Ford maintains, however, a contract to supply parts for the R1T via subsidiary Troy Design and Manufacturing.
- In July, Lucid Motors completed its merger with special purpose acquisition company Churchill Capital Corp. IV, which brought the EV company $4B. However, earlier this month, the Securities and Exchange Commission sent the company a subpoena in relation to its merger.
EV Battery Tech: - Earlier this month, BMW- and Ford-backed Solid Power, which develops all-solid-state battery cells for electric vehicles, began trading on the Nasdaq after the completion of its merger with Decarbonization Plus Acquisition Corp. III. Solid's batteries remove the flammable liquid electrolyte and polymer separator layer in a traditional lithium-ion battery and replace it with a solid layer. The company is aiming for a volumetric energy density of 930Wh/L, 33% higher than current options. Solid Power is looking to scale battery production for 800,000 per year by 2028.
- In September, UC San Diego researchers backed by LG Energy made a silicon-based solid-state battery, which was able to meet 500 charging cycles with 80% capacity retention at room temperature.
- Nissan revealed its goal to reduce the cost of batteries by 65% to an estimated $75 per kWh through the introduction of all-solid-state batteries by 2028.
- Volkswagen announced an investment in 24M, an MIT spin-off that optimizes costs in battery production by reducing material usage and removing steps from the conventional battery production process. The companies claim a 40% reduction in the production area, as well as the reduction of the CO2 footprint.
| |
 A message from COIN CLOUD Welcome to Easy Buckets...where bitcoin meets basketball for a slam dunk opportunity. You could win your share of $100,000 in Bitcoin while watching some of today’s top basketball talent explore digital currency. Here’s why people are excited about the opportunity to Watch & Win with Easy Buckets: - This informational video series features Atlanta Hawks star Trae Young, New Orleans Pelicans guard Josh Hart, Las Vegas Aces forward A’ja Wilson, and Stanford Cardinal guard Haley Jones as they navigate the new and often confusing world of digital currency.
- Guiding them on their journey as series host is podcaster, publisher and recognized crypto expert Joe Pompliano.
- New episodes launch every Sunday starting December 26, 2021, with additional prizes and entry opportunities available each week (no purchase necessary to win).
- You could take home between $500 and $5,000 in Bitcoin as one of our weekly giveaway winners!
Ready to score? Enter now for a chance to win your share of $100,000 in Bitcoin. Sign Me Up!
| |
Micro-mobility: - Shared electric scooter companies began a phase of recovery and consolidation after a downturn driven by the pandemic in 2020. Helbiz (current market cap: $172.3M) and Bird (current market cap: $1.74B) successfully completed their mergers with special purpose acquisition companies to become publicly traded.
- In Europe, Tier raised a $194.2M Series D, led by the Softbank Vision Fund. The Berlin-based company also acquired Vento, Wind Mobility's subsidiary in Italy, and Nextbike, which multiplied its footprint to 250,000 vehicles in 400 cities. Stockholm-based Voi raised a $115M Series D.
- In September, Amsterdam-based VanMoof temporarily became the most-funded D2C electric bike company in the world by raising $128M to a total of $189.1M; however, in October Rad Power Bikes added $154M to a total of $304M raised in two rounds this year. The Seattle-based company will use the money to fund its plans to add distribution centers in the U.S., Canada, Europe, and the U.K.
- Ola Electric began delivering its 70mph S1 electric moped scooters in India, and raised $500M; however, in recent weeks, reports have signaled concerns over output quantity and quality.
- Moped company Gogoro, which holds a 97% market share in Taiwan, expanded to Mainland China through a partnership with scooter companies Yadea and DCJ. In August, Gogoro reached 200 million battery swaps on its network, which also has a presence in India, Indonesia, and Israel. The moped-scooter company plans to go public on the Nasdaq through a merger with SPAC Poema Global, in a deal that would value Gogoro at $2.35B.
- GoTo Global (not to be confused with GoTo Holdings), which operates in Malta, Israel, and Spain, announced it has acquired moped-share start-up Emmy for an undisclosed amount, which would add 3,000 electric moped-scooters to GoTo's fleet and provide access to the German market.
- Brazil-based bike-sharing company Tembici raised $47M to fund expansion across South America.
| |
 Lyft's active rider count timeline. Ride-sharing: - Uber bookings reached an all-time high of $23.1B, up 57% YoY, of which $9.9B were from mobility gross bookings, a 67% YoY growth. In Q3, Uber had 109 million monthly active customers on its platform, up from 78 million in Q3 of 2020. Trips during the quarter grew 39% YoY to 1.64 billion, the approximate equivalent of 18 million trips per day on average. Note: Inside.com's founder and CEO, Jason Calacanis, is an investor in Uber.
- Lyft had 18.9 million active riders in Q3, up from 17.1 million the previous quarter. The company generated $864M in the third quarter, a 73% YoY revenue growth. In July, the company completed the sale of its L5 self-driving unit to Toyota's Woven Planet for $550M.
- In November, Southeast Asia-based Grab went public on the Nasdaq via a merger with SPAC Altimeter Growth Corp., which valued the company at $40B. In Q3, while its average spend-per-user on the platform reached a record high by growing 43% YoY, revenue was down 9% YoY to $157M due to COVID-related lockdowns in Vietnam.
- Didi has confirmed it will begin the process of delisting from the New York Stock exchange after concerns from Chinese cyberspace regulators over foreign exposure to its data. Didi has over 25 million daily rides, with over 400 million riders and drivers.
| |
Aircraft manufacturers: - Boeing signaled recovery from the pandemic demand downturn through an 8% YoY rise in revenue to $15.2B and an operating margin of 2.2% in Q3. According to the company, demand continues to gain traction with broad-based vaccine distribution and border protocols beginning to open.
- Aircraft demand by airline suppliers has seen an increase, with orders such as the Air Lease Corporation's reservation of 116 cargo airliners from Airbus. The manufacturer had previously sold 424 aircraft, generating ~$40.6B in revenue for the first nine months of the year, up 17% YoY.
- Rolls-Royce achieved the world record for speed by an all-electric aircraft, as its Spirit of Innovation plane reached a top speed of 345.4 mph, surpassing the previous record by 132 mph. The aircraft also broke the record for the fastest ascent by an all-electric aircraft by 60 seconds, climbing ~9,842 feet in 202 seconds.
Airlines: - A number of airlines filed for bankruptcy and ceased operations this year, though with less impact than 2020. In Canada, Sky Regional Airlines and First Air shut operations. In Europe, the list of airline closures includes France's VolDirect, Ireland's Stobart Air, Denmark's Great Dane Airlines, and Armenia's Atlantis European Airways.
- Amazon Air added nine airports to its network in the past nine months, totaling at least 44 in the U.S. Amazon has a fleet of 81 aircraft, comprising medium widebody Boeing 767s and standard converted Boeing 737s. On Cyber Monday and the next day, the retailer had 415 flights, a 26% YoY increase.
- U.S. airlines recently announced a revision of their 2030 sustainable aviation fuels target from 2 billion to 3 billion gallons, with the aim to reduce emissions by 20%. Following the goal revision, United Airlines and Honeywell invested in D.C.-based low-carbon jet fuel company Alder Fuels, and Lufthansa and logistics company Kuehne+Nagel invested in synthetic SAF.
| |
 eVTOLs: - It was a busy year in the eVTOL space, as Archer, Joby Aviation, Lilium, and Vertical Aero went public after completing their mergers with special purpose acquisition companies. The next company in the queue is Embraer's Eve Urban Air Mobility, which plans to merge with Zanite Acquisition Corp. in a deal that would involve a $305M private investment in a public entity. Eve's PIPE includes participation from SkyWest, Republic Airways, and BAE Systems, among others.
- Earlier this month, Archer Aviation received a special airworthiness certificate from the FAA for its Maker demonstration aircraft. The certification ensures the eVTOL has passed all safety requirements to begin off-ground operations testing. Archer performed the first hover test for the Maker aircraft at an airfield in Northern California.
- Japan Airlines ordered 50 Vertical Aero X4 eVTOLs from aircraft provider Avolon, with the option for the purchase or lease of an additional 50 units.
- XPeng's flying car unit raised $500M to develop the HT Aero, which is expected to be available in 2024.
- In the recreational eVTOL space, Jetson Aero began the testing phase of its One vehicle. Jetson sold out of its first set of 12 vehicles and plans to produce 100 One eVTOLs in 2023, of which 88 had been sold by November. You can catch our full interview with Jetson CEO Peter Ternström here.
Loops and Hyperloops: - Swisspod secured funding by ACE & Company and READ-HP Investments to build and test a propulsion system for its hyperloop technology at its second facility in Pueblo, Colorado.
- In April, the Boring Company completed its first operational tunnel system for $47M for two tunnels and three stations at the Las Vegas Convention Center. The company received an initial permit to build an extension loop covering 29 miles and 51 stations.
| |
Quick Hits: - SeedInvest is where high-growth startups go to fundraise online. Apply now to get started.*
- JetBlue plans to cut 1,280 flights from Dec. 30 to Jan. 13, claiming bad weather and COVID-related staff absences.
- Etihad plans to test an emissions savings behavioral software.
- Trust is the community-powered corporate card. Learn from each other’s spending patterns, get trusted advice, and increase your buyer. 100% free.*
*This is sponsored content.
| |
Upcoming events at Inside: - January 04 - Venturing in VC Episode #1 - featuring Turner Novak (Register Here)
- January 05 - DAOs and the intersection of tech & media with Kinjal Shah (Blockchain Capital) (Register Here)
- January 06 - Augmented and Virtual Reality with Timoni West (VP of AR/VR at Unity) (Register Here)
- January 11 - The Business of Interactive Gambling with Jon Kaplowitz (Penn) (Register Here)
- January 11 - Venturing in VC Episode #2 (Register Here)
- January 13 - Education within the Metaverse with Steve Grubbs (VictoryXR) (Register Here)
- January 25 - Need To Know NoCoder - Leon Young (Cogniss) (Register Here)
- January 27 - Understanding the Metaverse (Register Here)
- February 03 - Blockchain Gaming & Play-to-Earn Economies (Register Here)
- February 10 - The Business of Wellness (Register Here)
- February 17 - Customer Acquisition in a post iOS 14 world (Register Here)
- February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here)
- February 24 - Alternative Investments (Register Here)
- March 03 - The $12B Appetite for Amazon Aggregators (Register Here)
| |
 |  | Written and curated by Nicolas Saravia, an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped start-ups. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
Enter now for a chance to win your share of $100,000 in Bitcoin with “Easy Buckets” from Coin Cloud. | |
Comments
Post a Comment