Canoo's Challenges and Trump's Bold Plans for the Electric Vehicle Revolution

Canoo’s Challenges and Trump’s Bold Plans for the Electric Vehicle Revolution

Welcome to the latest edition of TechCrunch Mobility, your go-to source for breaking news and insights into the evolving world of transportation. Stay ahead of the curve by signing up for our newsletter — just click TechCrunch Mobility!

Recent Executive Orders Impacting Transportation

As the new Trump administration takes shape, the transportation sector is already feeling the effects of numerous executive orders and declarations. While executive orders can often serve as political theater, they provide valuable insight into the administration’s priorities, particularly in the realm of electric vehicles (EVs).

Impact on Electric Vehicle Incentives

President Trump has made it clear that he opposes any form of EV incentives. On his first day in office, he mandated all federal agencies to pause the distribution of funds from the Inflation Reduction Act and the Bipartisan Infrastructure Law. This includes funding for crucial EV charging infrastructure programs, specifically the National Electric Vehicle Infrastructure Formula Program and the Charging and Fueling Infrastructure Grant Program. Interestingly, Tesla, a company associated with Trump ally Elon Musk, has benefited from these initiatives.

Canoo’s Bankruptcy: A Cautionary Tale

In another significant development, Canoo has filed for Chapter 7 bankruptcy, ceasing all operations. This decision follows the closure of its Los Angeles headquarters just months prior. Employees were reportedly relocated to offices in Oklahoma and Texas, only to find themselves jobless after the bankruptcy filing.

Recent Funding Deals in the Transportation Sector

Despite the turbulent political landscape, several companies have secured significant funding:

  • Rivian: Finalized a $6.6 billion loan from the Department of Energy (DOE) to support a new factory in Georgia, with production expected to commence in 2028.
  • Ati Motors: The Indian autonomous robotics startup raised $20 million in a Series B funding round.
  • Lyteflo: A Canadian EV software startup that secured $3 million in seed funding.
  • Moment Energy: Raised $15 million for repurposing EV batteries.
  • Netradyne: Secured $90 million in a Series D funding round to enhance fleet safety technology.
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Noteworthy Developments in the Industry

Here are some additional highlights from the week:

  • ADAS Investigation: The National Highway Traffic Safety Administration is intensifying its investigation into Ford’s BlueCruise system.
  • Torc Robotics: Closing its Albuquerque testing site while expanding operations in Texas for autonomous truck development.
  • UBCO: The electric motorcycle startup from New Zealand has gone into receivership due to funding issues.
  • FTC Action Against GM: Proposed order to prevent GM from selling driver data without consent.

This Week’s Featured Vehicle: Lucid Gravity SUV

During my recent visit to CES 2025 in Las Vegas, I had the chance to experience the all-new Lucid Gravity SUV. While the vehicle may not appear large from the outside, the interior is impressively spacious and luxurious. Stay tuned for a detailed review coming soon!

For the latest updates and insights in the world of transportation, be sure to follow us and check out our related articles on TechCrunch Mobility.

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