Welcome again to TechCrunch Mobility — your central hub for information and insights on the way forward for transportation. Sign up right here totally free — simply click on TechCrunch Mobility!
Enough with my typical small discuss. Let’s soar into the information instantly this week. And there’s loads of it, together with Lyft’s entry into Europe, AV startup Nuro heading to Japan, the primary drive of the Lucid Gravity SUV, a couple of New York International Auto Show highlights, and a SPAC.
Yes, the SPAC is again. Or did this monetary instrument actually ever fade away?
Let’s go.
A little bit chicken
A little bit chicken instructed us that some individuals are hoping to get forward of the various, many hurdles eVTOLs want to leap earlier than there will be “highways within the skies.” This consists of working with actual property homeowners in rural areas to arrange vertiports and charging infrastructure. The pitch? Adding that infrastructure has the potential to extend your property worth sooner or later.
We’re digging into this to seek out out extra!
Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or my Signal at kkorosec.07, Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com. Or take a look at these directions to learn to contact us through encrypted messaging apps or SecureDrop.
Deals!
I anticipated a couple of extra IPOs in 2025 than the prior yr, however SPACs? Say it ain’t so. And but, right here we’re with a contemporary merger between autonomous car expertise startup Kodiak Robotics and particular objective acquisition firm Ares Acquisition Corporation II.
The transaction values Kodiak, which has raised round $243 million up to now, at about $2.5 billion pre-money. New and present Kodiak institutional buyers, like Soros Fund Management, ARK Investments, and Ares, have funded or dedicated over $110 million in financing to help the transaction, in addition to about $551 million of money held in belief.
I spoke to Kodiak founder and CEO Don Burnette and requested the apparent query: A SPAC? Now? Why?
“Kodiak, now that we’ve launched driverless, we’ve our autos on the street, we’ve driverless income coming in,” Burnette instructed me. “We assume now’s the time for development. We need to make the most of the tailwinds we’re seeing within the markets.”
Tailwinds? I requested him to elucidate, and Burnette meant tailwinds within the autonomy sector versus the broader financial markets.
“Obviously, we’re seeing short-term volatility — that’s an understatement,” he mentioned. “But we’re actually interested by this as a long-term thesis of reworking the transportation markets, utilizing AI, utilizing expertise, and thru automation. It’s one thing I’ve all the time believed in.”
Other offers that bought my consideration …
Conifer, a startup creating electrical hub motors which are freed from uncommon earth components, raised a $20 million seed spherical from buyers, together with True Ventures, MaC Ventures, MFV Partners, and others. True Ventures’ Rohit Sharma has joined Conifer’s board.
Kavak, a Mexico-based on-line used automotive vendor, raised $127 million in an fairness spherical, chopping its valuation to $2.2 billion from $6.5 billion. The spherical was co-led by SoftBank Group Corp and General Atlantic. The firm additionally secured $400 million in new debt.
Lyft agreed to amass FreeNow, a German multi-mobility app with ride-hail at its core, from BMW and Mercedes-Benz Mobility for about $197 million in money. The acquisition opens up the European market to Lyft for the primary time.
Nyobolt, a British EV charging startup, raised $30 million in funding, led by IQ Capital and Latitude. Strategic companions, together with Scania Invest and Takasago Industry, additionally participated.
Notable reads and different tidbits
ADAS
China is cracking down on how automakers promote driver-assistance options, banning phrases like “autonomous driving,” “self-driving,” and “good driving.” If you instantly considered Tesla and its “Full Self-Driving” software program, it’s price noting the automaker has modified the branding. But Tesla and others might be affected by guidelines round over-the-air software program updates for ADAS, which requires testing and authorities approval.
Autonomous autos
Nuro will start mapping and accumulating information in Japan utilizing autonomous autos (retrofitted Prius vehicles) from its U.S. fleet.
Waymo and Uber are making ready to launch their joint robotaxi service in Atlanta this summer time. Uber opened up an “curiosity checklist” this week to clients in Atlanta. The two corporations launched the “Waymo on Uber” service in Austin in March. Data from market analytics agency YipitData reveals Waymo robotaxis made up about 20% of rides supplied by Uber in Austin within the final week of March.
Zoox has partnered with Stingray Music, which is able to provide a curated choice of 16 stations through the touchscreen contained in the robotaxis. Yet one other signal Zoox is on the point of launch commercially.
Electric autos, charging, & batteries
Lime will ship batteries utilized in its scooters and e-bikes to Redwood Materials, which is able to extract and recycle vital minerals comparable to lithium, cobalt, nickel, and copper.
Kia debuted its 2026 EV4 sedan on the New York International Auto Show. This is the corporate’s first international electrical sedan and one designed for patrons on the lookout for an reasonably priced EV. Will Americans purchase it?
TechCrunch contributor Abigail Bassett spent a day driving the brand new all-electric Lucid Gravity SUV. Read the complete assessment and discover out why she wrote that the Gravity is “over-engineering at its greatest.”
Rivian’s first non-Amazon van buyer is HelloFresh.
Subaru unveiled its second EV, a wagon-like SUV known as the Trailseeker that, like its predecessor the Solterra, features a little bit of Toyota handiwork.
Future of flight
Archer Aviation unveiled its proposed air taxi community for New York City in partnership with United Airlines, which might permit passengers to tack on an Archer journey to their conventional airline tickets.
Ride-hailing
India’s market regulator launched an investigation into Gensol Engineering after discovering alleged misuse of electrical car loans. BluSmart, a ride-hailing startup linked to Gensol that was as soon as seen as an rising Uber rival within the South Asian market, has additionally been swept up into the investigation. And now it appears BluSmart has suspended companies in some Indian cities.
Security
Hertz clients have been notified of a knowledge breach that included their private info and driver’s licenses. Hertz attributed the breach to a vendor, software program maker Cleo, which final yr was on the heart of a mass-hacking marketing campaign by a prolific Russia-linked ransomware gang.
