Trucks | FoT: EVs in 2025, Tekion, Alvys

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

If Trump wins US presidency, implications for EVs -- 'ending the EV mandate' (link) and manufacturing -- OK with Chinese companies establishing US manufacturing (link). The asterisk on any EV discussion with Trump is his growing friendship with (and financial support from) Elon Musk, which will likely soften his otherwise negative view (link). It's either that Trump opens up to EVs, or that Tesla eventually builds a diesel truck.

Chinese LiDAR maker Hesai fights back against US blacklisting (link). Via Rory. 'Li denies any connection between Hesai and the Chinese military and says it has not received any investment from the Chinese government or state-linked entities.'

Waymo seeks SFO airport routes (link). The market inflection for Waymo comes when they open highway routes and airport pick up/drop off locations. And an IPO can't happen prior to that.

US Commerce Dept: no Chinese code in cars (link). We are headed toward full purity tests for vehicle hardware and software on US roads.

Looking for parking: Boeing's 200 fully or mostly finished jets are idled while they await interiors, engines (link).

Researchers find Uber Eats eats into Uber ridesharing (link). 'A 1% increase in local restaurants joining Uber Eats led to 2% fewer Uber trips and nearly 7% fewer Lyft trips.'

Inside the rise and fall of trucking logistics startup Convoy, aka the 'Uber for Trucking' (link).

Understanding how Vietnam's Gogoro is trying to have a valuation higher than any other two-wheeler company in the world — higher even than Harley-Davidson (link).

Video: solving a blind driveway problem (link). Video: how Skyryse makes flying a helicopter easier (link). Video: the biggest change in skateboard wheels in decades: Andy Anderson's new nano cubic wheels (link).

The craziest ones in the Tour de France? The support drivers (link). 'all of them are driven by ex-bike racers, a population without a normal human relationship to speed or fear...At any given time, Hayman might have one hand on the wheel, the other on the radio receiver, and a couple of water bottles for riders balanced between his knees.'

M&A / Deals / Changes:

New York EV charging startup Itselectric raises $6.5M (link). Led by Failup Ventures and Uber.

Auto retail software startup Tekion raises $200M (link). Led by Dragoneer.

Logistics supply chain software startup Alvys raises $20M (link). Led by Titanium Ventures.

UK retail startup Carwow raises $52M (link). Led by Bessemer Venture Partners.

Sodium ion battery startup Peak raises $55M (link). Led by Xora Innovation.

Indian ridehailing startup Namma Yatri raises $11M (link). Led by Blume Ventures and Antler.

Semiconductor startup DreamBig raises $75M (link). Led by Samsung Catalyst Fund and Sehat Sutardja.

VTOL startup Lillium strikes deal with Saudi Arabia for 100 vehicles (link).

Board & Executive Changes:

Spirit Airlines: Richard Wallman joins board (link).

Featured Jobs:

Sr. Aerodynamic Engineer at JetZero in Long Beach, CA USA (link).

FPGA Engineer at Quadric in Burlingame, CA USA (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:

A prototype go-kart with humongous windshield helps runners by reducing wind resistance (link). 'Allows the runner to engage in what the researchers call overspeed training, which enables athletes to reach competition speeds during training that are otherwise only possible with an increased adrenaline level.’

Home generator company Generac launches EV charger line (link).

Tracking the EV battery factory construction boom across North America (link). '34 battery factories either planned, under construction or operational in the country.'

China seeks WTO support over US EV import laws (link).

Patents & Patent Applications:

GM's patent application shows interior emotional state assessment (link).

Statistics / Projections:

May Mobility achieves 10,000 rider milestone in Grand Rapids, MN deployment (link).

There will be more EV chargers in the US than gas stations in 8 years (link). Via HF / Bloomberg. 'The US added about 700 new public fast-charging stations for electric cars in the second quarter, bringing the nationwide total to nearly 9,000.'

Tesla Cybertruck surpassed the Ford F-150 Lighting as America's most popular electric pickup truck in May (link). Via Axios / S&P Global Mobility.

Rand: calculating infrastructure risks due to climate change (link). 'The United States used to experience around three billion-dollar weather disasters a year. By the early 2000s, that had risen to six. In 2023, there were 28.'

Auto repossessions surge 23% in U.S. during first half of 2024 as Americans fall behind on payments (link). Via Automotive News / Cox Automotive.

Used EV sales in UK are up 63% from the same period the previous year (link). Via FT / Auto Trader.

Thank you:

Thank you to Jeff Brandes (link), Micah Kotch (link) and Molly Mahon (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

JetZero (link), May Mobility (link), Quadric (link), Skyryse (link). View the full portfolio of Trucks companies (link).

See you next week,

Reilly Brennan