Trucks | FoT: Distance, Verne, Bot

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

Beyond rides: how Uber is evolving into a model closer to Amazon's (link). 'Meanwhile, the number of people who use Uber’s services has been growing: from 45M at the end of 2016, the number of active monthly users worldwide had more than tripled to over 150M by the middle of 2024.' As Amazon evolved from selection to delivery, Uber moves to expand selection.

California Gov Newsom sides with AV firms, vetoes AB2286 (which would have required human attendants in AV trucks) and AB3061 (which would have created separate, and some would say confusing, standards for AVs) (link).

'Trojan Cars' is a term that perfectly sums up nationalistic concerns about sensor-rich, data-slurping vehicles (link).

Uber and Chinese AV startup WeRide plan partnership for service in UAE (link). We might remember 2024 as the year of Uber AV partnership deals; a Lyft exec recently told me the constant drumbeat of Uber partnership news was 'making her head hurt.'

More Kia hacks: only a license plate number required (link). Via Weans. 'We built a tool to demonstrate the impact of these vulnerabilities where an attacker could simply (1) enter the license plate of a Kia vehicle, then (2) execute commands on the vehicle after around 30 seconds. These vulnerabilities have since been fixed, this tool was never released, and the Kia team has validated this was never exploited maliciously.' If you are an auto cybersecurity firm and your sales rep isn't camped outside of Kia HQ w/ a box of donuts you need to write up the PIP.

Stellantis CEO: the best way to compete is 'to try be Chinese ourselves' (link). When the Jeep brand is eventually sold off again some time in the future, this quote will be placed in amber. 'The challenges faced by Stellantis in the EU and the U.S. are no different than those confronting all automakers as they seek to compete with the Chinese globally. However, Stellantis and a handful of others have taken it a step further, establishing partnerships with Chinese automakers in order to stay competitive.'

Unpacking Waymo's new safety dashboard (link). 'The good news: Waymo is publishing results of collecting safety outcome data, including miles traveled to pair with SGO data. This is a good thing!...The bad news: The way this data is being deployed by Waymo beyond their research publication machinery ranges from a distraction to outright propaganda.'

Is JetZero's stealth-bomber shape the future of air travel? (link). 'JetZero’s design combines wings and fuselage in a manner similar to the US Air Force’s B-2 bomber. This design, according to the company, will allow its aircraft to use 50% less fuel than a comparable conventional design but with existing engine technology. It should also produce 50% fewer emissions.'

Video: footage of Emirates Team New Zealand on its hydrofoils (link). Via Clay D. Video: amazing car control in 'Autotest' championships (link). Via Diego. Video: some rally cars feel more like aviation (link). Via JR. Video: Footage of modded Cyberpunk 2077 game is hard to distinguish from real life (link). Via TO. Video: electric drill powertrain for a motorbike (link).

One owner, never driven: NASA selling its VIPER moon rover (link).

M&A / Deals / Changes:

Finnish mixed reality windshield startup Distance raises $11M (link). Led by Google Ventures.

AV trucking startup Bot Auto, founded by ex TuSimple founders, raises $20M (link). Led by Brightway Future Venture.

Automated EV aviation startup Pyka raises $40M (link). Led by Obvious Ventures.

EV marine startup Pure Watercraft enters receivership, auctioning assets (link).

Lithuanian car parts startup Ovoko raises $22M (link). Led by Smash Capital.

Automotive auction house Gooding acquired by Christie's (link).

Washington DC roadside sensor startup GenLogs raises $6M (link). Led by Autotech and Steel Atlas.

UK simulator startup Vsim raises $24M (link). Led by EQT Ventures.

EV charging platform startup AmpUp raises $15M (link). Led by Touchdown Ventures.

Cummins, KPIT and Bosch partner to launch open-source commercial telematics framework (link).

German transit startup Distribusion raises $80M (link).

Belgian auto and aerspace data startup Marple raises undisclosed round (link). Led by Network Venture Partners.

Germany EV charging marketplace startup Cariqa raises $1M (link). Led by Anthemis.

Nissan to buy back $551M of shares from Renault (link).

Alex Roy and Patrick Hunt launch new VC firm New Industry (link).

Board & Executive Changes:

Southwest Airlines: Robert Fornaro joins board (link).

Featured Jobs:

Account Executive at Denim, remote (link).

Backend Tech Lead at Wise Systems in Montreal, Quebec, Canada (link).

MobilityJobs is the No.1 job board for auto & transportation companies (link). If you are a startup you can use the job board for free standard listings — just enter 'Trucks' at checkout.

New Stuff:

Verne unveils world-first cryo-compressed hydrogen heavy-duty truck (link).

This is the space exploration logo archive (link). And this is its forthcoming book project (link).

Sharp and Foxconn show EV prototype van (link). I did not realize until this story that Sharp is now owned by Foxconn.

EV truck startup Terraline opens Arizona engineering HQ (link).

Harbinger launches new extended-range hybrid powertrain for a camper, in collaboration with Thor (link).

Hertz is unloading its Chevy EV truck inventory here (link). Via Ryan M.

Patents & Patent Applications:

Ford's patent application shows how to size up available cargo space in a vehicle using a phone (link).

Statistics / Projections:

Surveyed consumers prefer remote-driving (tele-op) control of the vehicle, 65%, over autonomous driving, 58% (link). Via McKinsey.

China's market share in key EV battery components tops 80% (link). Via Nikkei / Yano Research Institute. 'Lithium-ion batteries are composed of four main parts: cathodes, anodes, electrolytes and separators. Chinese businesses held an 89.4% market share by volume for cathodes, 93.5% for anodes, 87.4% for separators and 85% for electrolytes.'

Voters prioritize gas prices over similar issues (link). Via David Z. From 2021, but still relevant. 'In 23 of the 24 swing counties analyzed, we found that an increase in average annual gasoline consumption and expenditure in a block group was associated with a decrease in votes for Biden in those counties, even when controlling for race, income, and population density....Constituencies with longer average driving times to work are more likely to hold the president accountable for gasoline price increases.'

The US cities with the fastest car commutes: Columbus, Ohio; Memphis, Tenn.; and Milwaukee, WI -- around 22 minutes each way (link). Via WSJ / American Census Survey.

The average traffic speed in midtown Manhattan was just 4.8mph in June 2024, the lowest on record going back to 1971 (link). Via Axios.

Thank you:

Thank you to Jim Buczkowski (link), Angel Gambino (link), Logan Grizzel (link), Danny Kim (link) and Amanda Lewan (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

Denim (link), Terraline (link), Verne (link), Wise Systems (link). View the full portfolio of Trucks companies (link).

Never bolt the door with a boiled carrot,

Reilly Brennan