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| 1 | | Restaurant chain Marco's Pizza announced an agreement with auto supplier Magna International to test autonomous delivery. Magna has previously produced autonomous delivery sidewalk robots for Silicon Valley-based Cartken. More: - "As we look at how people and goods will move in the future, we are continuously identifying new applications and technologies to match the needs of the expanded mobility landscape, the last-mile delivery market being one of them," said Magna's global lead for new mobility, Matteo Del Sorbo.
- Marco's Pizza has over 1,100 stores in 34 states, Puerto Rico, and the Bahamas.
- Magna operates 351 assembly and production facilities in North America, South America, Africa, Asia, and Europe, including the development of the electric Fisker Ocean SUV.
- $MGA was up 0.99% for the day and +2.5% WoW on Friday afternoon.
Q: Would you be more willing to order food if it was delivered by a robot? Join the conversation here. |     | |
| 2 | | FreightTech startup Zerobroker revealed it raised a $6.5M Seed round. The round included participation from Flexport, FundersClub, and Streamlined Ventures. More: - Zerobroker launched a product in February that seeks to execute a shipment, such as finding a carrier and managing paperwork.
- "Right now is a good time to bring this product to market because there has been enough digitalization in the industry. Truckers have smartphones and some sort of digitalization in their operations. So let's bring an all-in-one solution for shippers to run their entire operation in one place, and cut the unnecessary fat and have them directly connect with truckers," said the startup's founder and CEO, Georgy Melkonyan.
- The company claims 50% customer growth MoM since its launch without churn.
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| A message from our sponsor, Masterworks. |  | | Yes, this platform’s 77% return is an outlier – but the rest may surprise you The news is true: Masterworks’ 15th sale just weeks ago returned an impressive 77% to investors. While such a high return is an outlier for the blue-chip art investing platform, you might be wondering what their prior sales delivered. Glad you asked… Every one of their sales has returned a profit to investors, with 12 of them delivering double-digit returns, and 1 delivering triple-digit annualized returns. In full, Masterworks has over 300 paintings and their 15 exits have delivered: 32%, 39.3%, 36.2%, 27.3%, 9.2%, 33.1%, 21.5%, 17.8%, 13.9%, 35%, 10.4%, 325.5%, 4.1%, 17.6%, and 77.3%, net annualized returns*. Every sale but one outperformed the stock market in the period from when it was offered to when it was sold. With performance like that, offerings on the platform can sell out in minutes. However, Inside readers can skip the waitlist to join with this exclusive link. Skip the waitlist Performance of exited investments is not representative of artwork that has not yet sold and past performance is not indicative of future results. See important disclosures at masterworks.com/cd | |
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| 3 | | The Federal Aviation Administration is requiring Blue Origin to address 21 corrective actions following an investigation of its failed cargo mission in September 2022. The New Shepard rocket experienced the overheat of a part in the engine's nozzle. More: - The NS-23 mission did not contain people on board and carried payloads for scientific and research purposes.
- The space company laid off an undisclosed number of employees earlier this month, with some given the option of finding a new role within the organization.
- Blue Origin and Sierra Space are speculated to be discussing the potential end of their partnership involving the Orbital Reef private space station, which won a $130M contract for design work in 2021. Thus far, the agency has paid Blue Origin $24M for completing milestones.
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| 4 | | Seattle Tacoma International Airport observed a record summer with 15.3 million passengers. The airport also reported a single-day record for the most passengers on July 24, with over 194,000 passengers departing, arriving, or connecting. More: - The average passenger count for the three-month period was 166,000.
- SeaTac is planning to undergo a $4.6B improvement plan, including $500M in expanding concourses C and D.
Zoom Out: - New York City area airports reported a monthly record of a total of 13.3 million passengers in August.
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| 5 | | Honda unveiled its first electric SUV for the U.S. market, the Prologue. The vehicle was developed in collaboration with General Motors and includes Ultium batteries. More: - This marks a change for Honda, as last year, its executive vice president for the U.S. market said the consumer uptake for EVs was "a little out of whack."
- Honda is planning to sell 30 battery-electric models globally and deliver approximately 500,000 EVs in North America by 2030.
- Between the late 1990s and 2020, Honda announced and withdrew three EV models made in Japan.
- The Prologue has 300 miles of range and is expected to sell in the high-$40,000s range.
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| 6 | | The U.K. gave new guidelines for automakers to reduce their ICE vehicle sales, including flexible quotas to avoid penalties. Starting in 2024, 22% of new cars will be required to be zero-emission, increasing to 80% in 2030; however, automakers would be allowed to avoid penalties of up to £15,000 ($18,300) if more EVs are sold in later years. More: - The change comes days after the U.K. government decided to delay its ban on ICE passenger vehicles from 2030 to 2035, claiming it would ease the cost-of-living situation.
- "Delivering the mandate will challenge the industry, despite the flexibilities now included to support pragmatic, equitable delivery given this diverse sector," said Mike Hawes, CEO of the industry group Society of Motor Manufacturers and Traders.
- On the other hand, the postponement of the ICE ban was criticized by Lisa Brankin, Ford's managing director for the U.K., claiming that a relaxation of the 2030 deadline would undermine ambition, commitment, and consistency.
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| 7 | | Quick Hits: - No-code development is here to stay, according to industry experts. Gartner predicts 80% of technology products will be built by those who are not IT professionals by 2024.*
- Tesla broke ground on its Supercharger movie theater and restaurant in Hollywood.
- Hyundai and Kia are recalling 3.37 million vehicles in the U.S. due to the risk of fires.
- Norway earmarked $66.3M in funds for shipping decarbonization, including two battery-electric ships.
- Panasonic announced senior leadership for its new lithium-ion battery manufacturing facility in De Soto, Kansas.
- Allegiant Air founder Maury Gallagher returns as CEO following the resignation of John Redmond.
- NEXT WEEK in LA, redefine development at DockerCon! Use DCHALF for 50% off in-person registration, or participate online for free. Come learn with us!*
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Term of the Day Minimum viable product (MVP): A minimum viable product (MVP) is an early functioning model of a new product that can be presented to early adopters and investors. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
INSIDE TRANSPORTATION LEADERBOARD (7 DAYS) |
 | 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 Aaron Crutchfield | |
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