Economic headwinds drive downsizing in the mobility sector | January 27, 2023
Also, Tier and Spin released its workforce, Ride1Up’s first moped-style e-bike Revv1, Tesla earned $2.4 billion in Q4 of 2022, and HindSight introduced Version 2 of its rear-view sunglasses.
Issue [#172] - Every week, we deliver analysis and curation of emerging mobility news - post a job listing here!
Micromobility
The rising accidents of lithium-ion batteries catching fire are often linked to those found on cheaper e-bikes, but people are still purchasing them. Why is that, and what is being done on the regulatory front? / New Republic
VanMoof might not be the same urban e-bike brand that everyone loved before. Despite raising $128 million in funding in September 2021, financial losses and issues in its manufacturing and distribution framework are tainting its reputation as a leading e-bike company / Tech.eu
Cycling accidents are usually attributed to cyclists being helmetless, but is wearing a helmet the only safety measure that can take away a cyclist’s fear of riding on roads? / Slate
In another round of layoffs, Tier, a shared micromobility provider, released around 80 more employees and is also downsizing its subsidiary Spin, a bicycle-sharing system, by about 20 employees, prioritizing profitability over economic growth / TechCrunch
Micromobility vehicles are sough-after modes of transport because of their flexibility, safety, and affordable prices. Now we just need some improved infrastructure to increase the ridership even more! / FutureTransport
To endorse urban micromobility, cities should follow in the footsteps of New Orleans’s Blue Bikes, a bike-share program that bounced back after taking a community-driven approach based on equity and sustainability / Grist
People prioritized Bolt e-scooters over cars in 2022! Bolt, the shared micromobility operator, revealed that its riders replaced 20 million kilometers of their car journeys with e-scooter trips, reducing 2.4 million kg of CO2 equivalent emissions collectively / ZAGDaily
Product Launches & Updates
The 2024 Polestar 2 is the new version of Polestar 2, only better! The updated version of the EV furnishes new features, including a new flat front grille design, a 300-mile drive range on a single charge, and a 5.9 second 0-60mph acceleration, taking it one step ahead of its predecessors / The Verge
Forget what you know about Ride1Up electric commuters! The San Diego-based e-bike company has just debuted its first moped-style e-bike Revv1, which boasts a 750W hub motor, both front and full suspension versions, and an attractive starting price of $1,899 / Electrek
Ridehailing, Carsharing & Delivery
Lyft, a ride-hailing operator, has now decided to charge its riders wait-time fees, taking after its competitor Uber which started the practice in 2016. The fees will be charged on a per-minute basis, with the minute count varying according to the ride type / TechCrunch
Uber has released 150 employees, i.e., 3% of the workforce in its Freight segment. Financial headwinds being the main grounds, the digital brokerage team will be the one affected by this settlement / CNBC
Uber has set its sights on becoming a zero-emission platform by 2040, and to achieve that, the San Francisco-based mobility provider is partnering up with certain automaker companies to design EVs tailored for ride-hailing and delivery in an urban environment / Green Car Reports
Economic headwinds have caused yet another company to downsize. Waymo, an autonomous driving technology company under Alphabet, dismissed a number of its workers, preceded by Alphabet’s sacking of 6% of its manpower / Yahoo
Ampeco is all set up to charge North America’s electric vehicles! The Bulgarian EV charging management platform raised $13M in a series A funding round, steered by BMW iVentures, and is planning to expand its EV charging services in North America / TechCrunch
Gig economy drivers in India are straining to make ends meet due to the unfair work environment provided by the gig economy platforms, but they won’t find relief anytime soon because the gig companies are avoiding responsibility for their actions / TechCrunch
Investment & Deals
Ford is thinking about selling its German production facility to the electric vehicle manufacturer BYD, which would be a significant development for Chinese-made EVs / Electrek
Tesla has surpassed the earnings evaluated by Wall Street in Q4 of 2022 by making a revenue of $2.4 billion which is a 37% increase from Q4 of 2021. The company has also set its eyes on cost control measures and the production of its Cybertruck / TechCrunch
Terra Drone has acquired $14 million in funding from Wa’ed Ventures, making it the first Asian startup to be backed up by the venture capital of the biggest oil producer in the world, Aramco, and is planning on launching a new subsidiary Terra Drone Arabia / Suas News
Tesla is aiming to invest $3.6 billion to expand its Gigafactory Nevada, which will manufacture semi-trucks and produce cell batteries for light-duty vehicles on a large scale annually / AP News
In a move, Arcimoto sold an additional $12 million worth of shares for $3 each, which is less than half of Tuesday's closing price. In morning trading, the shares fell about 60% to $2.51 / Oregon Live
Cities & Policy
California is getting ready to follow a number of other US cities and states in providing tax breaks and rebates for electric bicycles. The California Electric Bicycle Incentives Project has been in the works for more than a year / Electrek
Through two significant pieces of climate and infrastructure-related legislation, the Biden administration has set ambitious ambitions to install almost 2 million public electric vehicle chargers / GovTech
With over 15,000 deployed scooters and more than 2 million unique users, Paris has developed into one of the major global markets for shared scooters under the management of the three authorized operators, Tier, Dott, and Lime / ZAGDaily
The city of Indiana established a commission to examine what is causing deadly crashes and give recommendations to the public on how to address it after the number of deaths on the roads increased / Bloomberg
Amsterdam demands a crackdown on the danger posed by modified e-bikes. Demon teenage riders traveling at 40 kph are endangering the once-safe streets for cyclists in the Dutch city, and the issue is becoming worse / The Guardian
From July, riders of electric scooters in Japan won't need a driver's license, but kids under 16 won't be allowed to / Kyodo News
New Products, Features, and Data Points
Wallbox has decided to shed 15 percent of its workforce. The EV charging and energy management supplier took this step to cut the company costs and save approximately €50 million to “better align with its 2023 full-year guidance” / Tech.eu
Honda is all set to establish a new electrification division! Starting from April 1, 2023, this division will exclusively work on speeding up the progress of electric vehicles and other electric products to catch up in the fast EV market / TechCrunch
You don’t have to look back now while cycling! HindSight, a sports eyewear manufacturer, has introduced the Version 2 of its rear-view sunglasses, Artemis and Morpheus, making it easier for its users to be aware of what is approaching from behind while looking ahead / ZAGDaily
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