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| Hey Insiders — Today we're bringing you the latest on LTL carrier Yellow ceasing operations and Ev.energy's $33M round. Scroll down for news on Marubeni's supercapacitor investment. Let us know which areas you would like us to cover next. Thanks for reading! Nicolas
p/mobilitynerd | |
| 1 | | Electric vehicle charging software provider Ev.energy announced it raised a $33M Series B. The startup works on virtual power plants and vehicle-to-grid capabilities. More: - Currently, Ev.energy's software operates the grid integration for 120,000 vehicles in North America and the U.K.
- The company's clients include British utility National Grid, solar energy company Maxeon, and Volkswagen.
- In 2022, the startup signed a deal with Gemany-based Hubject for its eRoaming charging network data and consulting services.
- The new round, which brings the total raised to $46M since inception, included participation from Energy Impact Partners, ArcTern Ventures, Future Energy Ventures, and Jaguar Land Rover's investment arm, among others.
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| 2 | | Less-than-truckload carrier Yellow stopped its operations on Sunday after laying off non-union workers on Friday. The layoffs included employees in customer service, sales, and information technology. More: - Late Sunday, Yellow notified union workers it would be filing for bankruptcy.
- The carrier missed payments to benefits provider Central States Funds in July, which would have left workers without health insurance. The companies, however, worked out a payment deferment plan.
- In June, Yellow sued the union for $137M, claiming it blocked modernization changes to its operations as it ran out of cash.
- The company claims Teamsters have stopped the generation of $1.5B in enterprise value.
- Yellow stock dropped 72.06% year-to-date to $0.71 at market close on Friday.
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| 3 | | Lamborghini estimates it could reach 10,000 unit sales for the year, selling 5,341 cars in H1. "It is not something we are obliged to achieve, but it's important to show what the health of the company is and how big willingness to buy our cars is," said the company's CEO and chairman Stephan Winkelmann. More: - The sales numbers in the year's first half represent a year-over-year increase of 4.9%.
- Lamborghini delivered 1,625 to the United States, its largest single market.
- The automaker generated €1.42B ($1.56B) in H1, consituting an increase of 6.7% YoY.
- The company's competitor, Ferrari, sold 13,200 units in 2022.
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| 4 | | Inclement weather caused over 1,000 flight cancelations in the Northeast on Saturday. Newark Liberty Airport had 196 cancelations, comprising 16% of its schedule. More: - Over 137 departures and arrivals into JFK Airport were canceled (18% of its scheduled flights).
- United Airlines had the most cancelations with 245 flights, 8% of its schedule for the day, followed by Republic Airways (on behalf of Delta Air Lines, United Express, and American Eagle) with 157 cancelations.
- This was the second day of mass cancelations for the region, as more than 1,800 flights were canceled on Thursday, impacting Boston and Hartford, among other airports.
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| 5 | | Japanese trading corporation Marubeni is investing in Estonian supercapacitor manufacturer Skeleton Technologies. The sum would involve a figure in the "millions of euros." More: - Marubeni, which had been selling Skeleton's technology in Asia (minus China and India), is interested in funding the production of Skeleton's SuperBattery, which uses curved graphene carbon made from renewable energy.
- Curved graphene can be combined with lithium ion to provide a buffer for peak power loads, extending the battery's lifespan to one million charging cycles.
- Skeleton currently has a production facility in Großröhrsdorf, near Dresden, and is building a second location in Markranstädt, near Leipzig, Germany.
- Production is expected to begin in 2024.
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| 6 | | Bikesharing fleet management platform Urban Sharing revealed that BikeMi surpassed six million rides in Milan, Italy. BikeMi's fleet comprises 1,000 e-bikes, 5,000 bicycles, and 325 stations. More: - "We performed a fully remote migration from legacy software to next-gen software, completely digitizing the BikeMi system over the course of just one day," claims Tom Nutley, the platform's head of business.
- The software company said that 95% of trips are currently activated using the mobile app.
- Urban Sharing was founded as Urban Infrastructure Partners' software development team in 2015.
- UIP operates bikesharing in Oslo, Trondheim, and Bergen in Norway.
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- Wisk Aero completed a public demonstration of an autonomous fixed-wing eVTOL.
- VinFast began construction of its electric vehicle factory in Chatham County, North Carolina.
- General Motors will begin producing battery modules at its Ingersoll, Canada in Q2 2024.
- U.K. bank NatWest and the University of Warwick-WMG announced the launch of a Clean Transport Specialist Accelerator.
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Term of the Day Management Buyout: An acquisition where the company's existing management acquires the controlling stake from the existing owners is called a management buyout (MBO). Question of the Week What's your stance on unpaid internships: valuable experience or exploitation? Join the conversation |
INSIDE TRANSPORTATION LEADERBOARD (ALL-TIME) |
 | 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 Christopher Hachey | |
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