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Tesla boosts sales of Luminar lidar, Motional suspends robotaxi plan

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Image Source: Bryce Durbin

this birdie The autonomous vehicle industry has been active this week.The most important thing is a tip dynamicis a self-driving car startup founded by Hyundai Motor and Aptiv. If you still remember, modern It recently agreed to spend nearly $1 billion to acquire Motional, including $475 million as a direct investment in the company and $448 million for Aptiv’s 11% common equity interest in the joint venture.

This week, we learned about the aftermath of that deal. Motional is suspending all commercial operations and delaying plans to launch a driverless taxi service until 2026 — two years later than originally planned. The purpose is to achieve core technology progress while retaining capital.

The move came at a cost: significant layoffs across the organization. While the company hasn’t publicly announced the number of layoffs, we’ve heard hundreds of people have been laid off. If you are affected, please contact us.

Any tips for us? Please email Kirsten Korosec (, Sean O’Kane ( or Rebecca Bellan (


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Image Source: Bryce Durbin

Wow, two huge self-driving car investments in just a few days. That’s pretty amazing considering the self-driving car hype is long gone, so let’s throw some money at it in this age of technology. Perhaps self-driving cars are getting caught up in the AI ​​investment frenzy. Regardless, the deal is happening!

A week after Hyundai struck a nearly $1 billion deal with Motional, a company called Wave Raised $1.05 billion in Series C funding led by SoftBank Group. (Oh, SoftBank, another AV company?) Nvidia and existing investor Microsoft are also involved. Wayve’s early investors include Yann LeCun, Meta’s head of artificial intelligence.

Founded in 2017, Wayve uses a self-learning approach (also known as end-to-end deep learning) rather than a rule-based self-driving system. It doesn’t yet have a fleet of robotaxis like Waymo, Cruise or Motional behind it, but plans to become a supplier to OEMs. Want more details about this startup?Check out the interview with Wayve co-founder and CEO Alex Kendall.

Other deals that caught my eye…

ambient sparkThe electric vehicle charging company raised $50 million from Basalt Infrastructure Partners.

momentumA Chinese self-driving car technology startup backed by General Motors has confidentially filed for an initial public offering in the United States, Bloomberg reported. The IPO may raise $200 million to $300 million.

Zhike Intelligent Technology HoldingsThe Chinese electric car brand owned by China’s Geely Holding is ready to go public. The company has set IPO terms of issuing 17.5 million shares, priced between $18 and $21 per share. The New York Stock Exchange approved its listing. stay tuned!

Noteworthy Reads and Other Tidbits

Advanced driver assistance system

moving eye chief technology officer Shai Shalev-Schwartz He made interesting comments on social media site X when asked if he thought lidar would become a necessary component of so-called L3+ systems to meet regulatory standards. he wrote: “Currently, cameras are insufficient to meet L3 requirements, and regulation will likely require lidar. At some point in the future, it is reasonable to assume that cameras and radar will be sufficient.”

Electric cars, charging and batteries

TC reporter Sean O’Kane Interviewed the founder bloom About their plans to reinvent the way e-bikes are made in America. Readers: What do you think?

Speaking of micromobility, Estonian companies Bolt Technologies Moves are being made to launch scooter business in the US market.


There’s a lot to gain this week. Here are some highlights:

Luminar said in its first-quarter earnings report Tesla It is now the lidar maker’s largest customer. In the first quarter of 2024, Tesla accounted for “more than 10%” of Luminar’s revenue, or just over $2 million.

Lucid Motor Company Senior Vice President of Digital said in the first quarter report Mike Bell – a longtime Apple and Intel executive – has resigned. Bell will serve as a consultant until mid-August to help “transition” his responsibilities at the company.

Rivian It reported a first-quarter loss of $1.45 billion, suggesting its recent company-wide cost-cutting measures still have a long way to go before it reaches profitability. Founder and CEO RJ Scaringe spent much of the earnings call talking about their progress.

Uber CEO Dara Khosrowshahi Membership fees for the Uber One program are now “over $1 billion,” the company revealed during its first-quarter earnings call. The company is now planning to offer more benefits to members in pursuit of “sticky” applications.

This week’s wheel

What is “Wheel of the Week”? It’s an opportunity to learn about the different transportation products we’re testing, whether it’s electric or hybrid cars, e-bikes, or even rides in self-driving cars.Stay tuned as I drive an absolutely massive all-electric car Mercedes-Benz eSprinter and 2024 Mitsubishi Outlander plug-in hybrid.

#Tesla #boosts #sales #Luminar #lidar #Motional #suspends #robotaxi #plan

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