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Image Credits:Spencer Platt \/ Getty Images <\/p>\n Image Credits:Spencer Platt \/ Getty Images <\/p>\n
Welcome back to TechCrunch Mobility, your hub for the future of transportation and now, more than ever, how AI is playing a part. To get this in your inbox, sign up here for free \u2014 just click TechCrunch Mobility<\/a>!<\/p>\n I won\u2019t spend too much time rehashing the SpaceX IPO<\/strong> \u2014 every media outlet, including TechCrunch, has spilled enormous amounts of digital ink on the company\u2019s first day of trading. But there are two important data points to note for anyone who closely watches the \u201cfuture of transportation\u201d industry.<\/p>\n As of market close Friday, SpaceX has a market cap of $2.1 trillion, rocketing past Musk\u2019s other publicly traded company, Tesla. SpaceX is currently the sixth most valuable U.S.-listed company, behind Nvidia, Apple, Alphabet, Microsoft, and Amazon. Tesla\u2019s market cap was $1.52 trillion as of market close.<\/p>\n These two companies could soon become one. There have been plenty of hints and speculation. Last week, senior reporter Sean O\u2019Kane<\/strong> spotted new language in SpaceX\u2019s S-1 document that warns investors of future dilution. The additional sentence reads, \u201cWe may issue a significant amount of equity in connection with future transactions.\u201d This isn\u2019t a forecast of some small-scale deal; it likely means Tesla.<\/p>\n On opening day, SpaceX president and COO Gwynne Shotwell added fuel to the speculative fire. During an interview with CNBC, Shotwell seemed open to the idea and said a merger \u201cmight make Elon\u2019s life a little easier.\u201d<\/a><\/p>\n And if you do want to read more, we have conveniently packed everything together<\/a> in a single spot, including stories on who wins (Elon Musk) and who might not (lower-tier SPV investors).<\/p>\n A little bird Senior reporter Tim De Chant<\/strong> heard from a little bird who is familiar with GM and its inner workings that a \u201cforeign supplier\u201d is providing lithium-iron-phosphate (LFP) cells for the 2027 Chevrolet Bolt<\/a> \u2014 and that the automaker currently has no plans to make LFPs for its EVs.<\/p>\n Previously, a Wall Street Journal report<\/a> said the arrangement with the foreign supplier \u2014 identified as Chinese battery manufacturer CATL \u2014 was a temporary stopgap. De Chant heard that GM is starting production of LFP at an Ultium plant in the coming weeks, but those cells are destined for energy-storage systems made by LG Energy Solution. The automaker hasn\u2019t yet decided whether LFP has a future in an EV beyond the Bolt.<\/p>\n Meanwhile, EV maker Lucid Motors<\/strong> is going through a bit of executive-level disruption. Emad Dlala<\/strong>, a top executive at Lucid, has left the company<\/a> just months after being promoted to a leading role, TechCrunch has learned. Dlala\u2019s exit is the first major executive departure since Lucid Motors named Silvio Napoli<\/strong> as its new CEO in April. And we hear there may be more coming.<\/p>\n Story Continues <\/p>\n Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com<\/a> or my Signal at kkorosec.07, or email Sean O\u2019Kane at sean.okane@techcrunch.com<\/a>.<\/p>\n Deals! We can officially say goodbye to the Apple<\/strong> car. Yeah, I know that special project was shut down<\/a> in 2024. But now there is further proof that Apple has moved well beyond autonomous cars.<\/p>\n After a tip and some document scouring, we found that Waymo<\/strong> acquired a massive 5,500-acre proving ground in Arizona owned by Route 14 Investment Partners LLC, a Delaware shell company associated with Apple. Waymo acquired the property for $220 million<\/a>, according to the filing.<\/p>\n The acquisition is the latest evidence that Waymo is trying to scale up its operations.<\/p>\n Other deals that got more attention \u2026<\/strong><\/p>\n CameraMatics<\/strong>, an Irish company that uses AI-powered video telematics to help make fleets safer, raised \u20ac49 million<\/a> from a consortium led by U.K. investment firm Blume Equity, the Ireland Strategic Investment Fund, and Goodbody Capital Partners.<\/p>\n Clear Robotics<\/strong>, an Indian tech company developing autonomous ships, raised a $1.75 million<\/a> pre-Series A funding round led by maritime-focused Shipsfocus Ventures. Katapult Ocean, SGInnovate, M7 Holdings MGS Ventures, and other strategic partners also joined the round.<\/p>\n Evotrex<\/strong>, a startup developing hybrid RV travel trailers, raised $30 million<\/a> in a Series A funding round. Funding came from a consortium of Chinese and Hong Kong-based investment firms, like GSR United Capital, Forebright Concerto Capital, TTGG Ventures, and Pegasus Capital, among others. Anker, the consumer electronics company, is among its seed investors.<\/p>\n Volteum<\/strong>, a startup that developed fleet management software for electric and mixed fleets, raised \u20ac2.5 million<\/a> in a round led by Movens Capital. WakeUp Capital and Aidiom, as well as existing backers DayOne Capital, Techstars, and Nesprit also participated.<\/p>\n Zepto<\/strong>, the Indian quick-commerce delivery startup, unveiled plans for an initial public offering<\/a> that could be valued at about $1 billion.<\/p>\n Z\u016bm<\/strong>, a startup that provides transportation services (typically in electric buses) for school-age children, is interviewing banks about a possible IPO, The Information reported<\/a>.<\/p>\n Notable reads and other tidbits Decart<\/strong>, an AI startup, unveiled an interactive world model called Oasis 3 that can generate photorealistic driving environments in real time. The startup is initially targeting autonomous vehicle companies that need to simulate rare driving scenarios at scale and plans to expand into robotics and other physical AI applications, senior reporter Rebecca Bellan reported<\/a>.<\/p>\n General Motors<\/strong> is pushing deep into batteries \u2014 and not for EVs. We covered some of GM\u2019s battery plans last week, but there is more to share. GM announced plans to sell a commercial energy-storage system for AI data centers and the grid<\/a>. It is partnering with energy-storage startup Peak Energy and will be developing an entirely new sodium-ion battery chemistry tailored for grid-scale deployments. With GM and Ford<\/strong> chasing energy storage \u2014 plus a number of startups like Redwood Energy piling in \u2014 it seems like everyone wants a piece of Tesla\u2019s battery business<\/a>.<\/p>\n Rivian<\/strong> started deliveries<\/a> of its all-important R2 SUV.<\/p>\n Uber<\/strong>, U.K. startup Wayve<\/strong>, and Waymo<\/strong> are headed toward a robotaxi showdown in London. Here\u2019s why<\/a>.<\/p>\n Waymo<\/strong> launched a loyalty program<\/a> called Waymo Premier, which will offer frequent robotaxi riders a number of perks in exchange for $29.99 per month. The company also released details on a new computer model it created that is designed to more accurately answer a fundamental question: How does its autonomous driving software stack up against humans?<\/a><\/p>\n Wing<\/strong>, the Alphabet-owned autonomous drones company, is pushing into seven more U.S. cities<\/a> through its partnership with Walmart. Wing isn\u2019t the only company using drones to autonomously deliver groceries, and while it\u2019s certainly not mainstream yet, it isn\u2019t a novelty anymore in certain markets.<\/p>\n One more thing \u2026 <\/p>\n Since the SpaceX<\/strong> IPO has just wrapped, I thought I would share some initial reactions from our TechCrunch staff. Senior reporter Sean O\u2019Kane and AI editor Russell Brandom recorded a special episode of the Equity podcast Friday to give first impression. I suggest a listen!<\/p>\n Image Credits:<\/strong>Bryce Durbin <\/p>\n
Image Credits:<\/strong>Bryce Durbin <\/p>\n
Image Credits:<\/strong>Bryce Durbin <\/p>\n