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Welcome to the latest edition of TechCrunch Mobility, your go-to source for news and insights on the future of transportation. In this newsletter, we’ll delve into the latest developments in the industry, including a potential takeover that’s making waves.
Luminar’s Twist of Fate
Luminar, a leading lidar company, is at the center of a intriguing storyline. Austin Russell, the billionaire founder and CEO, was pushed out of the company following an ethics inquiry. However, Russell hasn’t gone quietly into the night. He’s launched a new company called Russell AI Labs and has now made a bid to acquire Luminar. Our senior reporter, Sean O’Kane, broke the story, and we’ve learned that some members of Luminar’s board may be open to the idea.
The proposed takeover is still in its early stages, but it’s clear that Russell is serious about acquiring the company. The deal could involve Russell AI Labs acquiring another automotive tech company and merging it with Luminar. With Russell’s history and expertise in the industry, this move could be a game-changer for Luminar and the future of autonomous vehicle technology.
Deals and Funding
The electric aviation sector has seen significant activity this week, with two notable deals making headlines. Beta Technologies has priced its initial public offering, hoping to raise up to $825 million, while Lilium’s tech is being acquired by Archer Aviation for €18 million ($21 million). The question on everyone’s mind is what Archer plans to do with these patents, and our story provides some insight into the company’s potential plans.
Other notable deals include Airbound, an Indian drone startup, raising $8.65 million in seed funding, and Dexory, a warehouse robotics startup, securing $165 million in equity and debt. FleetWorks, a logistics startup, has raised $17 million in equity and debt, while Pony.ai and WeRide have received approval from Chinese securities regulators to pursue secondary listings on the Stock Exchange of Hong Kong.
Starship Technologies, an autonomous sidewalk delivery startup, has raised $50 million in a Series C round, and Upciti, a Paris-based smart city software company, has closed $20 million in Series A funding. Zepto, an Indian grocery delivery company, has raised $450 million in funding ahead of a public listing.
Notable Reads and Other Tidbits
The National Transportation Safety Board has issued a report on the OceanGate disaster, finding that the Titan submersible did not meet manufacturing safety standards. Stellantis and Pony.ai are working together to build robotaxis for use in Europe, while Stellantis is pulling back on electrification, investing $13 billion in U.S. manufacturing over the next four years.
Uber is offering a new kind of gig work, digital tasks like uploading photos to help train AI models. Waymo is expanding to London, offering a commercial robotaxi service in 2026, and has locked in a strategic multiyear agreement with DoorDash to deliver goods to customers in the Phoenix area using driverless vehicles.
One More Thing
As we consider the best business model for autonomous vehicle technology, we want to hear from you. Take our poll and share your thoughts on the future of transportation. We’ll share the results next week. For more on the latest developments in the industry, check out the full story Here.
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