Trucks | FoT: Dynamic charger pricing, Ola, Flexport

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

Now is the point in the EV cycle where, depending on how you take your coffee, 'EVs are dead' (link) or EVs are on a different acceleration curve (link). The reality is that global EV sales were up over 30% in 2023. It's also true that cold weather impacts EV range and in some cases charging equipment (link). EVs are neither the messiah nor the devil.

Autonomous IndyCar breaks rules, prevents its final opponent from overtaking (link).

Stable launches dynamic pricing system for charging networks, the world’s first (link). 'As it stands today, many major EV charging networks have been setting static prices at stations for entire states based solely on average energy costs and competitive prices. This approach leaves significant revenue on the table, leading to financial losses...To date, Stable’s customers using Dynamic Pricing across dozens of charging locations have seen a boost in revenue by up to 40% within 3 months.'

Why Chinese EV battery manufacturers are flocking to Hungary (link). 'Hungary’s appeal for Chinese battery giants lies in its developed automotive industry and favorable business environment for Chinese firms...Home to more than 700 auto and component manufacturers, Hungary is the only European country other than Germany where manufacturers Audi, BMW, and Mercedes-Benz all produce cars. Korean battery makers like SK Innovation and Samsung SDI have also expanded to Hungary in the last decade.'

John Deere announces connectivity partnership with SpaceX / Starlink (link). Via Weans. 'The SATCOM solution will connect both new and existing machines through satellite internet service and ruggedized satellite terminals. This will fully enable technologies such as autonomy, real-time data sharing, remote diagnostics, enhanced self-repair solutions, and machine-to-machine communication, all of which help farmers work more efficiently while minimizing downtime.'

GM reportedly to shut down its Ultra Cruise ADAS system (link). Via MG. 'But GM ran before it could walk. So desperate was the company to prove that it could out-Tesla Tesla, it developed Ultra Cruise to work not just on 130,000 miles of lidar-mapped highways, but with a goal to work on every public paved road in the U.S. and Canada. Hands-off driving limited to divided highways only is one thing, but hands-off driving on every public paved road in the U.S. and Canada is an entirely different public safety proposition.'

Understanding lithium-ion battery degradation (link). 'Lithium-ion batteries are constantly degrading—even when they’re not in use—simply as a consequence of time and thermodynamics. This is referred to as calendar aging, which is a result of a lithium-ion battery’s chemical makeup, as there are unavoidable chemical side reactions that take place at all times.'

Video: 2024 Ford Performance season launch event (link). Video: Chris Harris drives the Lamborghini Countach 25th Anniversary (link). Video: interview with Winnie Lai, CEO of Auriga Space (link).

Feds say no more to funny road signs (link).

M&A / Deals / Changes:

India's Ola EV heads for public listing (link). 'Expected to be among the largest Indian IPOs of the past two years.'

Flexport raises $260M round from Shopify (link).

Haslam family sells remaining interest in Pilot truck stop chain to Berkshire Hathaway (link). 'Terms of the deal were not disclosed but Berkshire Hathaway had spent upwards of $11 billion to acquire an 80% stake.'

Amazon's Industrial Innovation Fund re-focuses on AI and automated vehicles (link).

Board Changes:

J B Hunt Transport: Patrick Ottensmeyer joins board (link).

Assurant: Juan Cento, Robert Stein resign from board (link).

Goodyear Tire & Rubber: Laurette Koellner promoted to Chairperson, Mark Stewart named CEO and joins board (link).

Hertz Global: Stephen Scherr promoted to Chairperson, continues as CEO, succeeds Greg O'Hara who resigns from board; Fran Bermanzohn, Jeff Nedelman join board (link).

New Stuff:

Joby and Atlantic Aviation collaborate to electrify infrastructure in New York and Southern California (link).

River opens its first retail store for its EV scooter in Bengaluru (link).

ZeroAvia and Verne partner to explore cryo-compressed hydrogen for airports and aircraft (link).

Tesla Superchargers overwhelmed by new Uber drivers in NYC (link).

White House approves new language for EV charging tax credits which makes them more widely available (link).

European tele-op startup Vay debuts its on-road system in Las Vegas (link).

Patents & Patent Applications:

Hyundai's patent application for a personal micromobility device (link).

Zoox's patent application for remote vehicle guidance (link).

Featured Jobs:

Production Planning and Control at River in Hosakote, Karnataka, India (link).

Battery Lab Manager at Zitara in San Francisco, CA USA (link).

MobilityJobs is the No.1 job board for auto & transportation companies (link). New: any startup can now post standard jobs for free. Just use the code 'Trucks' at checkout.

Statistics / Projections:

U.S. consumers were more satisfied with the car shopping and buying experience in 2023 than during the previous two years, with total satisfaction increasing from 61% to 69% from 2022 to 2023 (link). Via Automotive Drive / Cox Automotive.

Thank you:

Thank you to Jackie Erickson (link), Nicole LeBlanc (link), Greg McGuire (link) and Mike Schroepfer (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

Auriga Space (link), Joby Aviation (link), River (link), Stable (link). View the full portfolio of Trucks companies (link).

See you next week,

Reilly Brennan