Welcome back to TechCrunch Mobility, your go-to source for news and insights on the future of transportation. This week has been eventful, with Tesla making headlines once again. The company started the week with layoffs, affecting around 10% of its workforce, as CEO Elon Musk announced his commitment to advancing autonomy. The week ended with a Cybertruck recall. While we have more to cover beyond Tesla, it’s worth mentioning Sean O’Kane’s scoop on the company’s Tesla Semi charging corridor program.
Moving on, we have some interesting developments from Washington, D.C. Our sources indicate that federal regulators are nearing the publication of a Notice of Proposed Rulemaking on autonomous vehicle regulations, marking the first set of federal guidelines for the industry. The Federal Motor Carrier Safety Administration (FMCSA) is expected to release a proposal by this summer or fall at the latest. This ruling will likely establish a minimum safety standard for AVs on public roads, while allowing state governments to impose stricter regulations within their borders. After years of discussions and planning, it seems that progress is finally being made in federal AV regulations.
Now, let’s dive into the deal of the week. Serve Robotics, a sidewalk robot delivery company backed by Nvidia and Uber, went public through a reverse merger. The company aims to raise around $40 million in gross proceeds, which will be used for R&D, manufacturing of new robots, geographic expansion, and more. Serve plans to increase its fleet from 100 robots in Los Angeles to 2,000 robots across multiple U.S. cities by the end of 2025, in partnership with Uber Eats. The company has ambitious revenue goals, targeting between $60 million and $80 million annually by 2025.
In other news, Found Energy, a startup utilizing waste aluminum for heat and hydrogen generation, raised $12 million in a seed round. Getir, a Turkish delivery company, is reportedly considering asset sales and exits from non-core markets due to investor pressure. Swtch Energy, a company specializing in EV charging solutions for apartment buildings, secured $27.2 million in a Series B funding round to expand its charging network and enhance its charging and energy management technology.
Let’s move on to notable reads and other tidbits. Mobileye has received orders to ship 46 million of its EyeQ6 Light ADAS chips to automakers over the next few years. These chips offer improved sensing capabilities for wet roads, object detection and reaction at greater distances, and enhanced reading of key text phrases on road signs.
Waymo has started data collection and mapping in Atlanta, adding to its geographic coverage. While the company hasn’t announced launch plans for Atlanta or other cities it’s mapping, such as Washington, D.C., and Buffalo, it has already launched commercial robotaxi services in Los Angeles and Phoenix, with Austin scheduled for later this year. However, there have been some hiccups, as six Waymo vehicles were caught blocking traffic in San Francisco due to a construction zone. Although Waymo has permission to operate fully driverless on freeways in San Francisco, it hasn’t removed the drivers yet.
General Motors has introduced a home EV charger and vehicle-to-home (V2H) kit that allows homes to draw energy from an EV battery during blackouts. Customers in certain states can purchase the kit now. Gogoro, a battery-swapping company for two-wheelers, and TSMC, a semiconductor company, are partnering to introduce 15 GoStations across Taiwan powered by 100% clean energy. They will also launch Gogoro’s scooter-sharing service in Hsinchu, expanding the charging network in the city.
Now, let’s delve into Tesla’s recent developments. The week began with layoffs affecting approximately 10% of the company’s workforce. Two high-profile executives, Drew Baglino and Rohan Patel, also left Tesla. Baglino, SVP of Powertrain and Energy, and Patel, VP of Public Policy and Business Development, cited significant changes at the company as their reason for departure. CEO Elon Musk explained that the layoffs were necessary for increased productivity and to prepare for Tesla’s next phase of growth.
Sources at Tesla revealed that many of those laid off were high-performing employees working on lower-priority projects. The company anticipates weak first-quarter earnings due to lower deliveries and ongoing price cuts. In response, Tesla discontinued EV inventory price discounts, aligning with its strategy to streamline sales and delivery operations.
These changes, along with the layoffs, are particularly significant considering Tesla’s proxy statement calling for the reinstatement of Elon Musk’s $56 billion payout. A Delaware judge recently voided the payout, prompting Musk to threaten to relocate Tesla to Texas. This plan will likely be presented to the board soon.
On the charging front, Tesla is moving forward with its plan to build an electric big rig charging corridor from Texas to California, despite missing out on federal funding through Biden’s Bipartisan Infrastructure law.
Lastly, this week saw Tesla recalling the 3,878 Cybertrucks delivered to customers due to faulty accelerator pedals that can get stuck.
That wraps up this week’s highlights. Stay tuned for upcoming articles where we’ll share our thoughts on electric bikes, the 2024 Lexus LC 500h, the 2024 Mercedes-Benz eSprinter, and more. See you next week!