Trucks | FoT: Xwing, Roadcloud, Qargo

FoT is the intelligence arm of Trucks Venture Capital 

Notable:

New US car mileage rules: 50.4 MPG by 2031 (link). 'These improved standards will save almost 70 billion gallons of gasoline through 2050, preventing more than 710 million metric tons of carbon dioxide emissions by 2050.'

Several 300-mile range EVs now cost less than the average new car in the US (link). 'At least three manufacturers — Tesla, Hyundai-Kia and General Motors — now offer EVs with more than 300 miles (480 kilometers) of range for less than the cost of the average new vehicle sold in the US, according to an analysis by Bloomberg Green. The most affordable is Hyundai’s 2024 Ioniq 6, which comes with 361 miles of range and a price tag that's 25% below the national average of roughly $47,000.'

A new bill has the potential to kickstart a US-made bike industry (link). 'The new bill includes three different proposals: 1) A 10-year suspension of tariffs on imports of bike components to incentivize domestic bike assembly; 2) A transferrable e-bike production tax credit for bikes manufactured in the US to encourage companies to utilize domestic manufacturing; 3) Low-interest loans, repayable after 12 years, for bike manufacturers to buy production equipment and other capital expenses.'

Shut out of the US by tariffs and facing a backlash in Europe, Chinese carmakers could end up dominating emerging markets (link). Via Alison F.

Paris prepares to show its bike-forward city to tourists for the Olympics this summer (link). 'Those changes have contributed to a 40% decline in air pollution, according to city officials.'

US Senators call for a ban on China suppliers CATL and Gotion after forced labor claims (link). Via HT. The companies are key suppliers to Volkswagen and Ford.

Drone maker DJI leaps forward with low-cost ADAS system for Chinese automakers (link). 'Automakers are drawn to DJI Automotive's technology for its relatively cheap price tag, which starts at 5,000 yuan per vehicle, or $689...At least 20 models launching this year will be equipped with the technology, according to DJI Automotive, which spun off from DJI in 2023.'

Video: 'railbiking' in Greece (link). Video: super slow-mo of Jorge Martin at a MotoGP corner (link). Via Paul P. Video: visualizing how Starship plans to go to Mars (link). Video: ultra-fast boat docking contest (link). Video: new Mustang Mach E Rally launch at Dirtfish Rally School (link). Via Diego. Video: Why I built an off-road Dodge Viper (link).

What comes after the SUV? (link).

M&A / Deals / Changes:

Belgian logistics startup Qargo raises $14M (link). Led by Balderton Capital.

Indian AV startup Swaayatt Robots raises $4M (link).

Finnish road and traffic data startup Roadcloud acquired by Goodyear (link).

Colorado programmable USB company Acroname acquired by Valens Semiconductor (link).

Bytedance, parent of TikTok, plans to raise $800M for its car marketplace unit (link).

Swiss vehicle design software startup Neural Concept raises $27M (link). Led by Forestay Capital.

VTOL startup Joby Aviation acquires the autonomy division of Xwing (link).

Service door maker Rytec Corp acquired by Nucor Corp for $565M (link).

On Israel startup Arbe's path for new funding (link).

Biden administration opens applications for $1.3B in funding to expand national charging network (link).

VTOL startup Archer Aviation details plans to operate vehicles for United Airlines (link).

GM drops its 'Ultifi' vehicle software brand name (link).

Board & Executive Changes:

XPO: Jason Aiken resigns from board (link).

Freyr Battery: CEO Birger Steen departs, Tom Einar Jensen renamed CEO (link).

Hertz: Scott Haralson named CFO (link).

Audi: former Valeo CTO Geoffrey Bouquot named as new board member for Innovation and Software-Defined Vehicle (link).

GM: Baris Cetinok and Dave Richardson, formerly of Apple, promoted to lead its software group (link).

Allison Transmission: Fred Bohley named COO (link).

Featured Jobs:

GNSS Engineer at Xona Space Systems in Burlingame, CA, USA (link).

Quality Inspector, Mechanical Assemblies at Joby Aviation in Marina, CA USA (link).

Automation Technician at Valeo in Smyrna, TN, 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:

Ford re-opens Michigan Central Station in Detroit after $1B investment; plans on becoming a new hub for mobility entrepreneurship (link).

Piech shows its 1000-hp, $200k GT car for 2028 launch (link). 'Piëch Automotive was fathered by Rea Stark Rajcic and Anton M. (Toni) Piëch, son of Ferdinand Piech. The elder Piëch, though, was explicitly critical of the project, saying, "I am in no way involved, nor do I take an active interest in it." Ouch.'

Zoox will expand to Austin and Miami in 2024 for testing, but not commercial service (link).

Google researchers present a new Shipping Network Design API, which can 2x container shipper profits (link). 'Our approach scales better, enabling solutions to world-scale supply chain problems, while being faster than any known previous attempts. It is able to double the profit of a container shipper, deliver 13% more containers, and do so with 15% fewer vessels.'

'Black Wolf' is a ridehailing company with drivers from military and law enforcement (link).

Toyota and other Japanese carmakers say they mishandled safety tests (link).

On Michigan and Google's 'Green Light' traffic flow research (link).

For sale: legendary Willow Springs Raceway in California (link).

Patents & Patent Applications:

Ford's patent application shows decentralized management of vehicle ownership using blockchain (link).

Statistics / Projections:

Super cheap tickets on legacy air carriers squeeze discount brands (link). 'United’s basic economy sales in the first quarter were up 35% from a year earlier.'

Electrolyzers are a small but growing source of U.S. hydrogen production (link). Via EIA. 'If all the planned projects are implemented, annual U.S. production of hydrogen through electrolysis could total about 0.72 million metric tons (MMmt) compared with the current 10 MMmt of hydrogen currently produced from fossil fuels and as a byproduct from other industrial sources.'

Study says that people who like loud car exhausts are more likely to be psychopaths and sadists (link). Via Western University in Ontario. 'A desire for a loud car with a modified muffler is predicted by being a man and higher scores on psychopathy and sadism.'

'Super commuting' (>75 mi trips) is rising again in the US, up 1/3 since 2020 (link, link to research presentation). Via Stanford / WSJ. 'These super-commutes typically take 2 hours and 20 minutes – so a daily both ways super commute would take almost 5 hours.'

Thank you:

Thank you to Christian Noske (link), Regina Savage (link), Eric Steager (link) and Maggie Szaszko (link) for offers of introductions to new founders, investors and friends over the last week.

Trucks portfolio companies mentioned in this issue:

Joby Aviation (link), Xona Space Systems (link). View the full portfolio of Trucks companies (link).

See you next week,

Reilly Brennan