TechCrunch Mobility: Zoox prepares for launch and Uber’s AV empire
Welcome back to TechCrunch Mobility, your hub for the future of transportation and now, more than ever, the role AI is playing in it. To
Welcome back to TechCrunch Mobility, your hub for the future of transportation and now, more than ever, the role AI is playing in it. To get this in your inbox, sign up here for free — just click TechCrunch Mobility! In just a few days, Amazon-owned Zoox will start charging for robotaxi rides. This might not seem like a big deal; the company’s custom-built robotaxis are already giving rides to passengers in Las Vegas and San Francisco, after all. And it’s opening up an early rider program in Miami and Austin too. None of this matters — in a business sense — until the company can operate commercially. And now it can, starting August 10, thanks to an exemption issued by the Highway Traffic Safety Administration (NHTSA). Because Zoox vehicles lack many of the traditional controls required under federal law, such as a steering wheel and pedals, it needed an exemption from federal motor vehicle standards in order to operate. It had an exemption that allowed it to demonstrate the technology; this one allows Zoox to operate a fleet of up to 2,500 vehicles commercially for two years. The exemption is a win for Zoox, but it also paves the way for any other autonomous vehicle developer that wants to launch a robotaxi that lacks a steering wheel, pedals, or other requirements that might not be needed in a vehicle with no human driver. For instance, a robotaxi really doesn’t need a rearview mirror; it already achieves that kind of visibility with sensors on the exterior of the vehicle. Tesla is the obvious beneficiary here since it is developing its two-seater Cybercab. But there will be others as well. In other news, you might have missed my comprehensive assessment of Uber’s autonomous vehicle empire. Check it out; it offers a complete rundown of every company that Uber has partnered with (and in some cases invested in). And I hear more are coming. You might recall that the Financial Times did its own calculus of how much Uber was investing in AVs. The outlet determined it was about $10 billion. And what do you know? That is exactly the number Uber CEO Dara Khosrowshahi shared during the company’s earnings call. He said the company would commit $10 billion “over the coming years” to deploy 120,000 driverless vehicles.
Deals! Image Credits:Bryce Durbin Moove started out as an African fintech company that provided vehicle financing for app drivers. While Moove remains in the mobility sector, it has evolved into a mega ride-hail fleet owner (42,000 vehicles and growing) across 13 countries. It has also added a new business division focused on autonomous vehicles. Moove got an early win and is now the fleet operator for Waymo in Phoenix, Miami, and Las Vegas, and in the future, London. But co-CEO Ladi Delano clearly has grander ambitions for Moove — and now he has the fresh capital to try. The startup, now based in Dubai, raised $250 million in a Series C round led by Mubadala Investment Company with Woven Capital and Ion Pacific as co-leads. Moove, which is now valued at $2.1 billion, plans to use the funds to scale its autonomous vehicle fleet management business, including hiring about 350 people. One interesting item of note: Moove plans to buy Waymo robotaxis and already owns the robotaxi assets of another unnamed company. Other deals that got my attention this week … Accell Group Holding, the Dutch bike maker behind brands like Lapierre, Raleigh, and Sparta, was granted a suspension of payments, kicking off an insolvency process. In 2022, a consortium led by KKR bought the firm for 1.56 billion euros ($1.77 billion at the time). Advanced Electric Machines Group, a U.K.-based manufacturer of rare earth and magnet-free electric motors, raised £16 million ($21.5 million) in a round led by Barclays Climate Ventures, PXN Ventures, Northstar Ventures, and the Low Carbon Innovation Fund. The funding round was complemented by loan support from Innovate UK. Chargepoly, a French company specializing in the electrification of heavy-duty and commercial vehicle fleets, raised €23 million ($26 million) in a round led by Meridiam. Hadrian, a defense tech company building automated manufacturing facilities, raised a $1.37 billion round at a valuation of $7.87 billion. The lead investors in the round include WCM Investment Management, Washington Harbour Partners, Valor Equity Partners, 137 Ventures, and Baillie Gifford. Matel Motion & Energy Solutions, an India-based company developing energy-efficient motors, motor controllers, and integrated powertrains, raised INR 130 crore ($13.6 million) in a Series B funding round led by UC Impower. River, the Indian electric vehicle startup, raised $120 million in a Series C funding round led by Elev8 Venture Partners and Claypond Capital.
The BriefWire