Cruise Recalls 950 Self-Driving Cars for Crucial Software Update
Cruise Recalls 950 Self-Driving Cars for Crucial Software Update
This week, Revel, the electric scooter company, announced it is shutting down its two moped business, and Ridepanda, a micromobility platform, transitioned to a corporate e-bike supplier.
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PARTNER | Save money and make drivers safer
Insurance costs are skyrocketing for gig companies. In 2022, Uber’s insurance costs increased by $1.4B from 2021. Lyft’s insurance costs increased by $670M, contributing 90% to its increase in cost of revenue. To help reduce insurance costs, companies are turning to telematics. They’re making drivers safer through real-time feedback and rewarding their safest drivers.
In Los Angeles for the LA Auto Show or CoMotion LA?! You’re invited - November 14th Happy Hour! Join our friends at Curbivore and the Shared Use Mobility Center for a mobility and delivery happy hour, 6-8 PM on 11/14, in the Downtown Los Angeles Arts District. RSVP now for free
Micromobility
Revel, the electric moped sharing company, is shutting down its two-wheeler rentals in New York City and San Francisco. The company has decided to focus on its EV rideshare business, including Tesla and Kia models, and will collect the remaining 3,000 mopeds for recycling over the next few weeks. This means that fewer electric scooters will be scattered across these cities' streets soon | The Verge
In the latest episode of the #CitiesFirst Podcast, urbanist Daniel Casas Valle discusses the concept of superblocks and their potential to reclaim public space for people. He emphasizes the importance of sustainable and social inclusiveness in street design. The conversation also touches on the 15-minute city concept and its potential for transforming urban landscapes | The #CitiesFirst Podcast
Ridepanda, launched in 2020 as a direct-to-consumer micromobility platform, has transitioned to a corporate e-bike supplier. The founders, former employees at Lime, Bird, and Scoot, capitalized on the shift towards small electric vehicle ownership | TechCrunch
Shared micromobility, encompassing bikes and e-scooters, has significantly impacted urban transportation in North America. The NACTO 2022 Shared Micromobility in the U.S. and Canada report highlights its role in reducing car usage, cutting emissions, and enhancing accessibility. With over 130 million trips in 2022, it's evident that these systems offer convenient, eco-friendly mobility. However, the report emphasizes the need for affordability and equitable distribution to ensure accessibility for all urban residents | National Association of City Transportation Officials
Product Launches & Updates
While it has been somewhat behind in electric vehicles, Honda is demonstrating a shift in focus towards micromobility. The company recently introduced the Honda Motocompacto, a foldable electric scooter, and an innovative electric bicycle concept. These ventures into light electric vehicles signify Honda's recognition of the need for sustainable, eco-friendly mobility solutions in urban areas and align with the global shift towards green transportation | Electrek
Zero Motorcycles, renowned as the "Tesla of motorcycles," introduces the Model S, DS, and DSR models, broadening its lineup to appeal to both entry-level riders and enthusiasts. The goal is to make high-end electric bikes more accessible while offering diverse performance levels and pricing options to suit various rider preferences | The Verge
Citroen is giving a refreshing makeover to My Ami Pop model, enhancing its playful and sporty design. The new version features a bold Infrared color scheme, striking headlamp bezels, and graphics for a distinctive look. Inside, it offers improved ergonomics with a driving selector in the central console. The update maintains the Ami's commitment to accessible and eco-friendly urban mobility while retaining its affordable price | Electric Car Report
Kawasaki, the pioneer in motorcycle manufacturing, introduces the groundbreaking Z7 Hybrid, the world's first hybrid naked bike. Building on the success of the Ninja 7 Hybrid, the Z7 Hybrid boasts a 451 cc Parallel Twin engine (59 horsepower) and a 9kW electric traction motor, setting a new standard for advanced naked bikes | The Pack
Ridehailing, Carsharing & Delivery
Lyft wants to offer rides that customers want and can afford. The company’s CEO, David Risher, said they will launch a new product called “Extra Comfort” that will be cheaper than luxury rides but more comfortable than regular ones. Now that Lyft has already gained some market share from Uber by cutting its fares, this product could attract more customers who are looking for a better ride experience | TechCrunch
Cruise, the self-driving car company owned by General Motors, announced that it is recalling 950 of its vehicles. The company initiated this recall to implement an over-the-air software update for the collision detection system to ensure that the vehicle remains stationary in specific crash scenarios instead of moving to the side of the road | The Verge
Cruise, GM's self-driving car unit, is facing challenges with layoffs and a recall of its robotaxis. The company's software algorithm was found to have difficulty detecting children, leading to the recall. This follows an incident where a Cruise robotaxi dragged a pedestrian in San Francisco, resulting in the suspension of the company's operating permit | Electrek
Archer Aviation, backed by InterGlobe Enterprises, plans to launch an all-electric air taxi service in India by 2026. The service will start with 200 aircraft in Delhi, Mumbai, and Bengaluru. The 'Midnight' e-aircraft can carry four passengers and a pilot for up to 100 miles | TechCrunch
Investment & Deals
Lyft's aggressive fare reduction strategy shows steady progress amid intense competition | TechCrunch
Momentus Inc. has closed a deal with an investor, resulting in $6.5 million in gross proceeds. The investor exercised Existing Warrants to purchase shares of common stock, and received new warrants | BusinessWire
Japanese micromobility operator Luup has secured £26 million in funding to expand its stations and improve its vehicles and app. Since launching in April 2021, Luup has built over 3,000 stations across Japan. The company aims to operate more than 10,000 stations by 2025 | ZAGDaily
Luxury electric vehicle maker, Lucid Motors, reported a loss of $227,802 per car sold in the latest quarter, surpassing Ford's loss of $62,016 per electric vehicle. Lucid went public in 2021 with a market value of $91 billion but has since seen its stock price fall by 93% | Future Car
Micromobility.com Inc. has received an extension from the Nasdaq Hearings Panel to continue its listing on the Nasdaq Capital Market. The company must meet all the continued listing requirements, including the Bid Price and Market Value of Listed Securities (MVLS) requirements by December 29, 2023 | Nasdaq
Zeekr, Geely's premium electric car brand, has publicly filed for a U.S. initial public offering (IPO). Goldman Sachs and Morgan Stanley are the lead underwriters. The IPO could be the first major float by a Chinese company in the U.S. in two years | TechCrunch
Irvine-based EV maker expands sales of battery-powered delivery vehicles to new customers, according to Q3 earnings announcement | Quartz
Cities & Policy
Major win for right-to-repair movement as maine auto repair rights law receives overwhelming public support of 84% | The Verge
New scorecard assesses state transportation departments' commitment to the environment | Bloomberg
Citi Bike and Adams administration plan to double e-bike fleet by 2024 | StreetsBlog NYC
The National League of Cities has issued a guide highlighting new policies and technologies to address air pollution, greenhouse gas emissions, and traffic congestion | Smart Cities Dive
E-scooters in the UK exist in a legal gray area. They can be legally bought but are illegal to use in public, making e-scooter owners potentially considered criminals | The Guardian
New Products, Features, and Data Points
Introducing the rs 1000 ride safety system: identifying hazardous vehicles and enhancing cyclist awareness | InsideEVs
Gogoro enables unlocking and activation of its electric scooters using Apple Wallet on iPhone or Apple Watch | TechCrunch
Rivian CEO RJ Scaringe balances customer satisfaction while discussing software pricing | TechCrunch
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