Jeff Bezos Invests in Mysterious EV Startup as Lucid Motors Acquires Nikola’s Assets – TechCrunch Mobility Highlights
Welcome to TechCrunch Mobility, your go-to destination for the latest news and insights on the evolving landscape of transportation. In this article, we will explore the impact of shifting U.S. tariff policies on major companies and delve into exciting developments in the electric vehicle (EV) sector.
The Current State of U.S. Tariff Policies
As of Friday, there is a 90-day pause on “reciprocal” tariffs affecting most countries. However, a 10% base tariff remains in place, and the tariffs on China have escalated significantly, now standing at approximately 145%. This ongoing uncertainty poses challenges for many U.S. companies, particularly in the transportation sector.
Impact on Major Companies
According to Wedbush Securities analyst Dan Ives, the increased tariffs have forced him to lower his price targets for both Apple and Tesla. These companies are not alone in facing the repercussions; many U.S. firms will need to assess whether to pass increased costs onto consumers.
- The pause on higher tariffs for goods from Mexico and Canada offers temporary relief to the transportation sector.
- Electric vehicle companies utilizing LFP (lithium iron phosphate) batteries remain vulnerable due to substantial tariffs on imports from China.
We will continue to monitor the developments surrounding U.S. tariffs, as their effects are expected to unfold over the coming months.
Exciting News in the Electric Vehicle Sector
Recently, we received intriguing information about a stealthy EV startup named Slate Auto. Backed by high-profile investors including Jeff Bezos, Mark Walter (controlling owner of the LA Dodgers), and Thomas Tull (lead investor of Re:Build Manufacturing), Slate Auto is generating buzz in the industry.
Slate Auto’s Innovative Approach
Senior reporter Sean O’Kane has uncovered significant details about Slate Auto’s origins, business model, and even a recent spy shot of its first product—a highly anticipated EV pickup truck.
If you have tips or insights to share, feel free to reach out to our team via email at [email protected] or [email protected].
Recent Deals in the EV Market
In notable business developments, Lucid Motors has made headlines by acquiring certain assets from Nikola during its bankruptcy proceedings. Lucid committed approximately $30 million for the factory and other assets.
Other Noteworthy Funding Announcements
- Ayan Capital successfully raised £25 million in Sharia-compliant financing aimed at providing halal vehicle options for eco-conscious consumers.
- Nowos, a European startup focused on lithium-ion battery repair, secured €6 million in funding, with an additional €3 million in debt financing underway.
- Nuro, specializing in autonomous vehicles, raised $106 million in a down round, bringing its total funding to $2.2 billion.
- Parallel Systems raised $38 million for its development of autonomous electric freight technology.
Additional Industry Insights
- Elon Musk’s Department of Government Efficiency has enacted cuts at the National Highway Traffic Safety Administration, affecting vehicle automation safety teams.
- Nissan plans to incorporate automated driving software from Wayve to enhance its advanced driver-assistance systems by 2027.
- Waymo is leveraging data from its robotaxis to develop generative AI models, utilizing interior camera footage.
- A Waymo robotaxi recently caused a traffic jam at a Chick-fil-A in Santa Monica, highlighting the challenges of autonomous navigation.
Stay tuned for more updates on the shifting dynamics in the EV market and the implications of tariff policies on the transportation sector. For more information on electric vehicles and related technology, visit our Electric Vehicles page.
