Flexible Insurance Models Are Transforming Micromobility Growth | November 15th, 2024

Plus, discover how shared micromobility is set to double by 2030, the latest safety innovations tackling battery fires, and a Mozambican city’s inspiring shift toward active transport leadership.

Nov 15, 2024

Issue [#264] - Every week, we deliver analysis and curation of emerging mobility news - post a job listing here!

Micromobility

Adaptive insurance is emerging as a competitive edge for micromobility operators. Traditional insurance models often misalign with operators' needs, leading to high costs and outdated coverage. Cachet co-founder Kalle Palling advocates for flexible, usage-based policies that adjust to real-time data, reducing expenses and enabling scalable growth. This approach not only enhances financial resilience but also fosters trust, regulatory support, and sustainable expansion for micromobility platforms in urban areas | ZAGDaily

McKinsey sees shared micromobility growing steadily, with shared bicycles now surpassing e-scooters in popularity. Projections suggest trip volumes could double by 2030, driven by factors like supportive regulation, shifting consumer habits, and technological advances. Cities are re-evaluating partnerships with operators, pushing for financially stable models and better-aligned regulatory standards. Increased consumer demand for features like GPS and safety tech is also shaping vehicle design, creating new collaboration opportunities for manufacturers and cities | ZAGDaily

Micromobility faces a pressing safety challenge with lithium-ion battery fires, which are rising, especially in major cities like New York. Experts at Micromobility America’s panel urge stronger safety standards, including UL certification for batteries, to mitigate risks. Legal changes and emerging battery tech, such as lithium phosphate and sodium-ion options, are also explored. Improved regulations and manufacturing standards could help stabilize insurance markets and enhance industry safety by 2025 | ZAGDaily

Mozambique’s Quelimane, led by Mayor Manuel de Araújo, champions active transport as a model for low car dependency. With 75% of trips by walking or cycling, the city prioritizes bikes through cycle lanes, traffic lights, and safer infrastructure. De Araújo’s leadership, symbolized by his bike-only campaign, shifted public perception of cyclists from “second-class citizens” to valued members of the community. His efforts highlight how cities can promote sustainable mobility and social change | StreetsBlog USA

Product Launches & Updates

Ford will pay up to $165 million for delays in recalling vehicles with faulty rearview cameras, marking the second-largest fine in NHTSA history. The settlement includes $65 million upfront, $55 million contingent on compliance, and $45 million for safety improvements. Ford will enhance data analytics, build a driver assistance test lab, and work with an independent compliance expert. The automaker reaffirmed its commitment to safety and regulatory adherence | TechCrunch

Kia is set to reveal a new EV, likely the compact EV3 SUV, at the 2024 LA Auto Show. Featuring a range of up to 375 miles, the EV3 is positioned as a “game changer” with strong demand in Korea and Europe. Expected to be priced between $30,000 and $40,000, US tax credits could lower costs significantly. Built in Mexico, this affordable EV aims to compete with models like the Chevy Bolt EUV | Electrek

MOD Bikes' limited edition Easy Sidecar Sahara combines vintage BMW R75 Sahara design with modern e-bike features. Priced at $3,499, it includes custom colors, a dual-crown suspension fork, extra headlights, and a top cargo rack. The bike offers a range of 50-100 miles and is equipped with a 750W motor, torque sensor, and throttle. Designed for fun, it accommodates small riders and pets with a doggie door in the sidecar | Electrek

Otherlab's Lightfoot electric scooter, priced at $4,995, features solar panels that extend its range by up to 20 miles in summer and 10 miles in winter. Powered by dual 750W motors and a 1.1kWh battery, it offers a 37-mile range and 20 mph top speed. Its unique design includes regenerative braking, weatherproof cargo storage, and aircraft-grade aluminum construction, catering to eco-conscious commuters with a low-maintenance, energy-independent solution. Deliveries start January 2025 | The Verge

Polestar has unveiled the Long Range Single Motor version of its Polestar 3 electric SUV, priced at $67,500. This entry-level model offers a 350-mile range, surpassing the dual-motor version's 315 miles. Powered by a 111 kWh battery, it supports fast charging up to 250 kW. Built in South Carolina, it qualifies for the U.S. clean vehicle tax credit. Deliveries begin in early 2025, enhancing Polestar’s accessible EV lineup | ArsTechnica

Royal Enfield revealed its electric motorcycle line, Flying Flea, at EICMA 2024, introducing the Flying Flea C6 and S6 models. These bikes blend classic Royal Enfield design with urban-friendly electric power, catering to commuters. Though specific performance details remain undisclosed, the brand emphasizes accessibility, likely offering modest range and power at a competitive price. Targeted for a Q1 2026 release, the Flying Flea aims to balance affordability with style in the growing electric commuter market | Electrek

Ridehailing, Carsharing & Delivery

Instacart's workers, mainly recent African immigrants, are excluded from New York City's minimum wage law, unlike other delivery workers. These individuals face exploitation, working long hours for low pay, often relying on e-bikes to deliver groceries. While Instacart has expanded, the lack of workforce training leaves many with limited job options. Advocates are calling for more regulation to address these gaps, as New York City considers creating a new agency to oversee delivery industries | StreetsBlog NYC

Waymo has expanded its robotaxi service to all in Los Angeles, ending a 300,000-person waitlist. Residents can now hail rides across an 80-square-mile area using the Waymo One app. This move follows approvals to operate commercially in LA earlier this year and aligns with Waymo's growing presence in cities like Phoenix and San Francisco. Backed by a $5.6 billion funding round, Waymo's valuation now exceeds $45 billion, highlighting its ambitious growth plans | TechCrunch

Zoox is testing its autonomous robotaxis, which lack steering wheels or pedals, in San Francisco and Las Vegas. While the vehicles meet safety requirements, Zoox has not sought federal exemptions, and the National Highway Traffic Safety Administration is investigating. Initially, the robotaxis will transport employees in specific areas, with plans to include public riders in 2025 as part of its “Zoox Explorer” program. This marks a significant step for the Amazon-backed company in autonomous vehicle testing | TechCrunch

Investment & Deals

Pony AI, a Chinese self-driving tech company, is preparing for a Nasdaq IPO under the ticker "PONY," planning to raise up to $224 million by issuing 15 million American Depository Shares. Despite a $425 million target, its valuation is projected at $4.48 billion. Operating fleets of robotrucks and robotaxis in major Chinese cities, including Beijing, Guangzhou, Shenzhen, and Shanghai, Pony’s IPO follows those of competitors Zeekr and WeRide. U.S. investors remain interested in Chinese tech firms despite geopolitical tensions. Pony once had a $8.5 billion valuation after a 2022 Series D round with Toyota’s participation | TechCrunch

Lyten, a Silicon Valley battery startup, acquired Northvolt’s manufacturing assets, including Cuberg's 2021 equipment and San Leandro facility lease. Lyten, investing $20 million to expand in California, uses sulfur and graphene for cost-efficient, high-density batteries. The company plans a 10 GWh Nevada factory, having raised $476 million at a $1.17 billion valuation | TechCrunch

Karl Iagnemma, former Motional CEO, has become CEO of Vecna Robotics, a Massachusetts-based startup specializing in warehouse automation. Vecna, backed by Tiger Global, Highland Capital, and others, has raised $179 million, including $14.5 million in recent funding. Iagnemma sees potential for scaling automation, comparing it to the robotaxi market. He co-founded NuTonomy, later acquired by Aptiv. Motional, facing restructuring and delays, plans a 2026 robotaxi launch | TechCrunch

Volkswagen Group increased its investment in Rivian to $5.8 billion, including $1.3 billion for software, $3.5 billion for shares, and $1 billion for a potential loan. Their joint venture, launched Nov. 13, will focus on electric architecture. Rivian’s R2 will debut in 2026; VW models follow in 2027 | Green Car Reports

India's traffic congestion, fueled by rising private vehicle use and declining public transport, is prompting government-backed air taxi development. ePlane, founded by Satya Chakravarthy, is building the e200x eVTOL, aiming for 2026 commercialization. With $14 million in Series B funding, the startup focuses on compact designs, synergistic lift, and global expansion | TechCrunch

VinFast, the Vietnamese EV maker, secured billions in funding from parent company Vingroup and chairman Pham Nhat Vuong, including a $2.1 billion sponsorship and $1.4 billion loan to reach break-even by 2026. Despite losses of $2.75 billion in 2021-2022, VinFast aims for growth, with over 51,000 vehicles delivered in 2024 | Electrek

Cities & Policy

Massachusetts voters approved Proposition 3, granting Uber and Lyft drivers the right to unionize and negotiate wages, benefits, and working conditions. The law introduces a new process for addressing unfair labor practices but has drawn mixed reactions from labor advocates. Critics argue it falls short of reclassifying gig workers as employees. This policy marks a significant shift in labor rights, setting a precedent for addressing gig economy worker protections across the U.S. | Modern Delivery

The incoming Trump administration plans to eliminate the IRS clean vehicle tax credit, overhauled under Biden's climate bill. The revised rules impose domestic production, income, and price caps, reducing eligible vehicles. Tesla, a key beneficiary, supports ending the credit, believing it harms rivals more than itself. The change requires new legislation via budget reconciliation | ArsTechnica

A Transportation for America report finds rural states like Montana, North Dakota, and Wyoming reduce emissions by repairing roads instead of expanding highways, unlike urban, progressive states. Texas leads in increased emissions from highway investments, while cities like Missoula, Montana, use IIJA funds for climate-friendly projects like bike lanes and sidewalks | Bloomberg

Bike It Lancaster expanded by adding 25 electric bikes and extending its service to Manheim and East Lampeter Townships. Since 2017, the program, accessible through the Movatic app, allows flexible bike rentals. Mayor Danene Sorace emphasized the program’s goal to improve mobility and provide faster, more convenient transportation, especially for hills | WGAL

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