VW’s Budget-Friendly EV: Featuring Rivian Technology and the Race for Canoo’s Assets!
Welcome to your go-to source for the latest updates in the world of transportation. In this article, we’ll delve into exciting developments from the SXSW conference, the automotive industry’s response to tariffs, and groundbreaking innovations in electric vehicles (EVs). Read on to discover what’s happening in the future of mobility!
Highlights from SXSW 2023
This year, the TechCrunch transportation team, including myself and senior reporter Rebecca Bellan, is on the ground at SXSW in Austin, Texas. We have several panels lined up, and we invite all attendees to stop by and say hello!
Panel Discussions at SXSW
- March 11: Interview with Dara Treseder, Chief Marketing Officer at Autodesk.
- March 11: San Jose Mayor Matt Mahan discussing urban transformation.
- March 12: Rebecca will engage with executives from GM, Dolby, and Google about in-car entertainment.
- March 12: I will interview Wing CEO Adam Woodworth, Walmart VP Warren Moore, and UNT Professor Clinton Purtell on drone delivery’s future.
Make sure to catch the onstage interview with Rivian CEO RJ Scaringe and keep an eye out for Waymo robotaxis, which can be accessed through the Uber app!
Impact of Tariffs on the Automotive Industry
In the backdrop of SXSW, significant changes are looming in the automotive sector due to tariffs introduced by the Trump administration. These tariffs are expected to shake up the industry, particularly concerning automobile imports from Canada and Mexico.
The administration has delayed the implementation of these tariffs for one month, responding to requests from major automakers like GM, Ford, and Stellantis, who are urged to relocate any offshore operations back to the U.S. by April 2. Many analysts believe this may not happen as anticipated.
Innovations in Electric Vehicles
Volkswagen’s Affordable EV Launch
Volkswagen has unveiled its most affordable electric vehicle yet, the ID EVERY1. This small hatchback, expected to launch in 2027 with a starting price of 20,000 euros ($21,500), will utilize software and architecture developed by Rivian as part of a $5.8 billion partnership agreement.
Additional EV Developments
Another exciting model, the ID.2all, is set for release in 2026, leveraging VW’s E3 1.1 architecture and software created by its Cariad unit.
Funding and Deals in the Mobility Sector
In the realm of investments, Didi Autonomous Driving, a subsidiary of the Chinese ride-hailing giant Didi, is on the lookout for additional funding, aiming for a valuation of $5 billion. The unit has so far secured $1.55 billion and is in discussions to raise several hundred million more.
In other notable deals:
- BYD: Raised $5.6 billion through a primary share sale.
- AiDEN Auto: Secured $4.2 million in seed funding.
- Canoo: CEO Anthony Aquila is purchasing nearly all of the company’s assets out of bankruptcy for $4 million.
- CaPow: Developed in-motion electric charging systems and raised $15 million in a Series A funding round led by Toyota Ventures.
California’s Clean Mobility Initiatives
The state of California has issued $33 million in awards through its Clean Mobility Options Voucher Program. This funding aims to address mobility gaps and reduce air pollution, specifically targeting electric school buses and e-bikes.
Other Noteworthy Updates
Autonomous Vehicle Partnerships
Avride has partnered with Hyundai to jointly develop autonomous vehicles. This collaboration will focus on technology suitable for robotaxis, expanding Avride’s fleet of Hyundai Ioniq 5 vehicles.
Uber’s Expansion
Uber has launched its Uber for Teens service in India, initially in cities like Bengaluru, Delhi NCR, and Mumbai, with plans to expand to 35 more cities soon.
For more updates on transportation technology and mobility news, stay tuned to our website. If you have any tips or suggestions, feel free to contact us at kirsten.korosec@techcrunch.com.
For further insights into the evolving landscape of transportation, explore our related articles on Electric Vehicles and Autonomous Vehicles.
