Trucks | FoT: Tesla Robotaxi, EVBox, Croft

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

Tesla unveiled the hardware vision of its robotaxi plan, with some additional ideas (a larger toaster van, geofenced L4 driverless in some cities for current vehicles) (link). The problem with this presentation wasn't the vision, or the designs, but the time. Tesla is at its best when it is making bold predictions about the future, giving itself unrealistic timelines, then delivering on those well ahead of when the crusty old companies can catch up. The problem with this one is that Tesla's north star vision (an L4 system) is already the playbook of a handful of companies operating today: Waymo has over 20M driverless miles and is running regular service today - and growing; Cruise has done about 5M driverless miles and is planning its comeback; China has a handful of companies doing driverless today. So, this is the first time Tesla has set a futuristic goal that someone else has already achieved, which is why this felt a bit like an athlete at the tail end of its winning streak. Whether you kneel or stand while visiting Tesla church, it feels like we have entered a different epoch.

The Oilstainlab HF-11 lets you decide (and swap) between an EV or an ICE engine (link). This is both super interesting and also probably completely impractical -- people tend to want one or the other. In the future will people want 'both'?

Foxconn previews a new EV positioned for America, now it just needs a brand to use it (link). This already looks like a Kia product (said as a compliment).

Inefficient compared to its peers, do U.S. ports need more automation? (link).

After Fisker's fall, will the cars still work? (link). From FoT friend Ryan McManus: 'This is not a software-defined vehicle, this is a software-dependent vehicle — the Sonos of cars.' In this era, I wonder if the definition will become the liability.

Croft's manifesto for the hydrogen rebellion -- against battery trucks (link).

It's time to define what exactly 'Level 2+' ADAS means (link). 'We should formally define SAE Level 2+ to be a feature that includes not only Level 2 abilities but also the ability to change the vehicle’s travel path, for example by automatically making turns. Level 2+ should be regulated in the same bin as SAE Level 3 systems.'

Unpacking Waymo's technical approach vs Tesla (link).

Video: SpaceX successfully receives its Starship booster rocket in 'chopstick' landing (link). Video: How electric trains work and why they make interesting sounds (link). Via Carly K. Video: enough trunk bass to make the metal look like jello (link). Video: ride along video of the Tesla Robotaxi concept in Los Angeles (link).

M&A / Deals / Changes:

Chinese AV startup Pony raises strategic round from Chinese OEM GAC (link).

Dutch EV firm Engie reportedly shuts down its EVBox subsidiary, the second major EV charging hardware startup to announce a closure this month (link).

A look at the fallen -- and falling -- prices of LiDAR stocks (link).

Vehicle repair software startup Bizzycar raises $15M (link). Led by Dealer Tire.

Racing suspension firm Ohlins Racing acquired by Brembo for $405M (link).

Board & Executive Changes:

Cerence: former CDK CEO Brian Krzanich named as CEO, joins board (link).

Featured Jobs:

Finance & Strategy Analyst at Skyryse in El Segundo, CA, USA (link).

Battery Test Engineer at River in Bengaluru, Karnataka, India (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:

Gatik shows its Safety Assessment Framework (link).

A look at Detroit's new mobility hub, focused around the rehabbed train station (link). Related: Michigan's mobility conference takes place there in a few weeks, on Oct 24 (link).

Hamlet shot entirely inside the video game Grand Theft Auto (link). Via Kenji A.

Toyota's portable hydrogen tanks look like XL AAA batteries (link). Via Larry B.

Commercial EV site developer Terawatt opens its first fleet location (link).

Patents & Patent Applications:

GM's patent application shows a remote ignition block in a 'high crime zone' (link).

Although now reportedly shuttered, this Apple patent shows in clearest detail how they thought about their vehicle architecture -- four wheel power, four wheel steering (link).

Statistics / Projections:

Uber says 180,000 drivers are currently using EVs in the US, Canada, and Europe (link). Via The Verge / Uber.

America's most popular export is an empty container (link). Via QZ / DAT. 'The three largest U.S. ports — Los Angeles, Long Beach, and New York/New Jersey — process nearly half of all loaded imports. In 2022, DAT found that the trio of ports collectively handled 13.8 million containers, which are commonly known as 20-foot equivalent units (TEUs). However, about 3 out of every 4 containers received by these ports returned to their overseas destinations with only “air,” or in other words, empty.'

Within GM's CFO presention from last week's event, GM's OnStar division is reportedly on track for $2B in topline revenue for 2024 (link to PDF). Page 32.

Quantifying the benefits of EV credits, Americans have seen a 2-to-1 return on their investment in the new electric vehicle subsidies. (link, link to report). 'Our equilibrium model shows that compared to pre-IRA policy, IRA EV credits generated $1.87 of US benefits per dollar spent in 2023, at taxpayer cost of $32,000 per additional EV sold. Compared to scenarios with no EV credits, however, the IRA EV credits created only $1.02 of benefits per dollar of government spending.'

Thank you:

Thank you to Oliver Cameron (link), Tapan Kataria (link), Tyler Mincey (link) and Tom O'Keefe (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

Croft (link), Gatik (link), River (link), Skyryse (link). View the full portfolio of Trucks companies (link).

Walk on air against your better judgement,

Reilly Brennan