Trucks | FoT: Tesla launch, Coretura, ZR1X

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

Tesla launched its geofenced AV service in Austin, but with employees riding in the front passenger seat (link). Templeton: 'Tesla’s much-anticipated June 22 “no one in the vehicle” “unsupervised” Robotaxi launch in Austin is not ready. Instead, Tesla has announced to its invite-only passengers that it will operate a limited service with Tesla employees on board the vehicle to maintain safety (link).’ A video from an example ride today (link). Example of the app screens (link). This wasn't the unsupervised dream realized, but if it wasn't Tesla I think people would be saying this was a solid mini launch. It's just that Tesla has been promising a lot more than this for eight years, while poking fun at companies that did these exact launches. I liked reading Dr Phil Koopman's take on the launch here (link).

It's US v China for robotaxi leadership (link). With China and US likely blocking out their home markets from one another, 'Europe and the Middle East are expected to be the key markets where Chinese and American players compete head-to-head.'

GM's new Corvette ZR1X takes the 1,064-hp internal-combustion V8 from the ZR1 and pairs it with a hybrid powertrain on the front axle (link). Simply amazing: 'Chevy claims the ZR1X can simultaneously pull 1.0 g latitudinally and longitudinally.'

China floods Brazil with cheap EVs, triggering backlash (link). 'China-built vehicle imports are expected to grow nearly 40% this year, to about 200,000, according to Brazil’s main auto association. That would account for roughly 8% of total light-vehicle registrations.'

Deepest look yet at aviation startup JetZero's development plans (link). 'Since the initial Air Force contract award in August 2023, JetZero’s project has continued to gather momentum. Bolstered in April by the addition of United Airlines to the growing list of publicly named carriers—alongside Alaska Airlines and Delta Air Lines—willing to reveal an investment in the project, the company has focused on building a comprehensive group of industry suppliers and recruiting a team of experts covering everything from structures and systems to certification and manufacturing.'

New report on FAA staffing shortages by National Academies (link, link to report). 'From fiscal years 2013 to 2023, the FAA hired only two-thirds of the air traffic controllers called for by its staffing models. By fiscal year 2024, nearly a third of air traffic control facilities had fallen 10% below model standards and about 22% had fallen 15% below.'

Video: Lewis Hamilton and Charles Leclerc in the Ferrari F80 (link). Video: understanding how a B-2 Bomber works (link). Video: Can Europe replace America’s F-35 fighter jet? (link). Video: MOIA and Volkswagen unveil the ID. Buzz AD series vehicle (link).

RIP Fred Smith, who transformed parcel delivery by founding FedEx (link).

M&A / Deals / Changes:

Parking software startup Parkade raises $10M (link). Led by Navitas Capital.

Ride-hailing firm Careem to suspend decade-old Pakistan service (link).

Los Angeles logistics startup Warp raises $10M (link). Led by Up.Partners and Blue Bear Capital.

Dutch mobility platform startup Umob raises $4M (link).

Simulation startup Applied Intuition raises $600M (link). Led by BlackRock and Kleiner Perkins.

Japanese retail startup Peach Cars, which focuses on the African market, raises $11M (link). Led by Suzuki Global Ventures.

Florida retail startup Auto Acquire AI raises $4M (link).

Volvo and Daimler Truck launch their software joint venture, named Coretura (link). 'Coretura, based in Gothenburg, will create a platform for software-led trucks and buses. The platform will be used by both companies, and offered to other manufacturers; first products by 2030.'

Board & Executive Changes:

GXO Logistics: Patrick Kelleher named CEO (link).

Prologis: Joseph Ghazal departs as Chief Investment Officer (link).

Dana: Brett Icahn, Christian Garcia resign from board (link).

Curated Jobs:

Senior Backend Engineer at ChargerHelp, remote (link).

Sr. Product Operations Manager, BlueCruise at Ford Motor Company, remote (link).

Senior Manager, Innovations at Walmart in Bentonville, AR, USA (link).

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

Hunting? View all 286 postings on the MobilityJobs job board (link).

New Stuff:

Honda successfully launched and landed its own reusable rocket (link). I didn't even realize Honda was working on rockets.

Toyota to raise US auto prices by average $270 from July (link). 'The automaker's decision follows U.S. President Donald Trump's imposition of a 25% tariff on imported vehicles and auto parts. A Toyota spokesperson, however, denied the tariff directly influenced the price increase.' Carmakers are in an era where they can't speak honestly about why they are doing things.

Waymo expands in California; now active in 250 square miles (link).

New York City has announced new minimum-pay rules for rideshare drivers, settling on a 5% increase following pushback from Uber and Lyft (link).

VanMoof’s co-founders have a new e-bike coming from Raleigh (link).

Honda shows cargo micromobility bike (link).

Amazon’s Zoox boosts robotaxi production ahead of first commercial launch in Las Vegas (link). 'The facility will help Zoox grow its robotaxi fleet, eventually producing 10,000 vehicles a year once it’s at full scale.'

Patents & Patent Applications:

GM's patent application shows off-road style e-motorcycle (link).

Statistics / Projections:

The total cost to own and operate an automobile in the US averaged $12,296 in 2024, roughly 30% higher than a decade ago (link). Via WSJ / U.S. Bureau of Labor Statistics.

Automotive News's list of the top 25 automotive suppliers: Bosch, Denso, Magna, ZF, CATL (link).

Total revenues in China's drone industry rise to nearly $30B (link). Via TechInAsia / 36kr. 'China’s drone industry is expected to experience significant growth, with over 20,000 operational companies projected by the end of 2024.'

China's automakers aim for cars with 100% domestic chips from 2026 onward (link). Via Nikkei.

In Q1 in the US market, hybrids made up 14% of all new car sales, roughly double the market share of pure BEVs (link). Via NYT / DoE.

For the first time, China's new car sales of hybrids and BEVs are over 50% (link). Via Bloomberg / China Passenger Car Association.

Thank you:

Thank you to Sam Baker (link), Chris Felch (link), Edoardo Gentili (link), William Haney (link) and Isaac Holeman (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

ChargerHelp (link), JetZero (link). View the full portfolio of Trucks companies (link).

Be quick, be quiet, be on time (Kelly Johnson),

Reilly Brennan