Trucks | FoT: Tariffs, Also, Fleetio

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

Quantifying the impacts of tariffs on automotive sales and brands (link). Via Rudi. ‘Based on the 2025 model year report, no vehicle will be spared — even those assembled in the U.S. — because every vehicle incorporates imported components.’ For customers: 'We will work through the inventory on the ground, and it’s probably about two months before you start having tariffed inventory at dealers' (link).

Rivian's in-house micromobility projects spun out as 'Also' brand (link). The biggest opportunity (assuming ZEV credits survive) is if we ultimately get ZEV credits for smaller vehicles like Also will build. And since ZEV credits are based on all-electric range, it's interesting to think about ebikes (many of which are >100mi) tucking in to this policy. Current data on how ebikes are selling in the US, courtesy of Puneeth Meruva's Flywheel (link) data: Average new ebike price in the US: $2,458; average listed used price: $1,597. If Also hits near those numbers it will be competing squarely with the bulk of the market, typically the domain of brands like Rad Power, Aventon and Ride1Up.

David Neeleman's obsession: starting budget airlines (link). Via Toro.

Graffiti within the abandoned Bugatti factory in Campogalliano, Italy (link).

Low-cost drone add-ons from China 'let anyone with a credit card turn toys into weapons of war' (link). 'When I first saw the AI guidance components, one was advertising that it could identify a bird at 30 meters away and a horse at a hundred meters away—but later they actually just changed that to identifying people and cars...It's not specific people or specific models of vehicles, but they're not even dancing around it anymore that those are the categories of targets this would be used for.'

What will AI mean for photo-based insurance claims? (link).

Video: Delicious dried squid snacks in Japan that look like tire debris (link). Via Diego. Video: on China's shipbuilding prowess (link). Video: Aptera prototype road trip (link).

The Ford executive who kept score of colleagues’ verbal flubs (link). 'I know these are swing-for-the-moon opportunities, but I think we should pursue them.'

M&A / Deals / Changes:

Decentralized positioning startup GEODNET raises $8M (link). Led by Multicoin Capital.

Fleet management startup Fleetio acquires Auto Integrate, raises $450M (link). Led by Elephant and Growth Equity at Goldman Sachs Alternatives.

Volkswagen announces cooperation with Valeo and Mobileye for ADAS on MQB vehicles (link).

Board & Executive Changes:

Volvo Cars: Håkan Samuelsson to return as CEO (link).

Nikola founder Trevor Milton pardoned by Trump (link).

Wolfspeed: Robert Feurle named CEO, joins board (link).

Aeva Technologies: Katherine Motlagh joins board (link).

Curated Jobs:

Vice President/Senior Vice President, Platform Engineering at Edge Case Research, remote (link).

Head of Investor Relations at JetZero in Long Beach, CA USA (link).

Hiring? Post a job (link). If you're a startup, use code 'Trucks' for free standard listings.

Hunting? View all 378 postings on the MobilityJobs job board (link).

New Stuff:

In New York this week, Keyframe will host an AV discussion featuring May Mobility's Ed Olson and Revel's Frank Reig (link).

Hyundai's new software platform is named Pleos (link). 'Today, starting with Pleos 25, we are transforming into a company providing software-centered mobility experiences.'

Waymo plans robotaxi launch in Washington, DC in 2026 (link).

Northwestern researchers make carbon-negative concrete (link). 'Currently, sand is sourced through mining from mountains, riverbeds, coasts and the ocean floor. In collaboration with Cemex, we have devised an alternative approach to source sand — not by digging into the Earth but by harnessing electricity and CO2 to grow sand-like materials in seawater.'

Patents & Patent Applications:

Ford's patent application shows remote access of a vehicle's sensor data (link). Note 'publisher' and 'subscriber' designations for vehicles.

Statistics / Projections:

67% of Americans would not consider buying a Tesla (link). Via Electrek / Yahoo News / YouGov.

Car repossessions surged last year to the most since 2009 (link). Via Bloomberg / Cox Automotive. 'In 2024, roughly 1.73 million vehicles were seized, according to data from Cox Automotive, up 16% from the year prior and 43% compared with 2022. The last time repos hit this level the US economy was reeling from the financial crisis.'

Thank you:

Thank you to Micah Kotch (link), Pete Martin (link), Tony Rimas (link), Santosh Sankar (link) and Scott Simpson (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

Edge Case (link), JetZero (link), May Mobility (link). View the full portfolio of Trucks companies (link).

I like my oatmeal lumpy (Shock G),

Reilly Brennan