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Tesla shareholder raffle and EV layoffs hit Lucid and Fisker

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OK, OK – remember last week I suggested Tesla Somewhat additional Convince shareholders to vote to move the company to Texas and approve CEO Elon Musk’s A $56 billion pay deal?

I was wrong, you guys. Or more accurately, my statement was premature. Because this week Tesla took it to a whole new level by offering a chance to win a factory tour with Elon and the chief designer. Franz von HolzhausenYes, we are currently conducting a sweepstakes voting program. Shareholders who vote will have the opportunity to visit the Tesla factory in Austin and be invited to attend the Annual Shareholder Meeting on June 13th.

What will they offer next? Dinner with Elon? Cybertruck? The stakes are high, and the annual shareholder meeting on June 13 is just around the corner — two factors that promise to lead to some interesting developments.

Before we get into the news, just a reminder that I’m going to hand the wheel over to the journalists. Rebecca Belland I’m going to enjoy some free time next week.

A little bird

Winking Catbird Green
Image Source: Bryce Durbin

A lot of birds came to us and posted on social media about a new round of layoffs at the troubled electric vehicle startup. FiskAccording to our count, hundreds of workers were laid off.

Fisker has been in trouble for months and has gone through multiple rounds of layoffs. The latest round of layoffs is close to the limit. As of April 19, the company employed about 1,135 people. Sources tell us that after the layoffs in late April and this more drastic reduction, the company is only left with about 150 employees.

Have a tip for us? Please email Kirsten Korosec kirsten.korosec@techcrunch.comSean O’Kane (sean.okane@techcrunch.com) or Rebecca Bellan (rebecca.bellan@techcrunch.com). Or check out these instructions on how to contact us via an encrypted messaging app or SecureDrop.

trade!

Money Station
Image Source: Bryce Durbin

This week’s trading summary: Here are the money flows.

Orca Artificial Intelligencea London-based startup that claims to power the world’s first autonomous commercial vessel for sailing in crowded waters, has raised $23 million in a round led by OCV Partners and MizMaa Ventures.

Redwood material has signed an agreement to recycle electric vehicle battery production scrap for Ultium Cells, a battery manufacturing joint venture between General Motors and LG Energy Solution.

Re-electrificationan Australian startup developing inverter-free batteries, has raised $17 million in a round led by One Ventures. Toyota Ventures, Australian Clean Energy Finance Corp., Energy Innovation Capital, GS Futures, Creative Ventures and NOAB Ventures also participated.

Chip ElectricalIndian electric vehicle startup has raised $15 million in a Series C round of funding, with its founders expecting to raise between $35 million and $40 million once the round is closed this summer. Japanese oil and energy group Eneos led the investment.

Worth reading and other interesting facts

Self-driving cars

this National Highway Traffic Safety Administration The investigation into Waymo’s self-driving car software has added nine more incidents.

Electric vehicles, charging and batteries

Celeb The company has a striking pitch to automakers that its founders say will give the Germany-based battery recycling startup an edge over larger rivals.

Lucid Motors The company announced it was laying off about 400 employees, or about 6% of its workforce, as part of a restructuring ahead of the launch of its first electric SUV later this year. The layoffs come just over a year after the company cut 1,300 jobs.

A little over a month ago, a reader asked me, Onyx Motorcycle?TC reporter Rebecca Belland It took weeks to figure out what happens when the owner and CEO of a company dies suddenly and there is no succession plan.

Archer Aviation continues to seek partners in its quest to commercialize electric flight. This time, Archer and the ride-hailing and parking company Kakao Mobility have agreed to work together to introduce electric air taxi flights to South Korea starting in 2026.

In-vehicle technologies and applications

apple and the Paris Regional Transport Authority, Motor Vehicles in Ile-de-France (IDFM), Support for transit cards has been introduced in Apple Wallet, which will allow people to use their iPhone or Apple Watch as a Navigo pass to ride the subway, train, tram or bus. This is notable in two ways: the integration with Apple is the result of years of negotiations between the tech giant and IDFM, and it will go live two months before millions of people head to Paris for the Olympics this summer. Yes, Android users have been able to use their phones as Navigo passes for a while now.

Chinese electric car manufacturers There hasn’t been any significant progress in the U.S. yet, but that doesn’t mean people aren’t worried. U.S. Representative Elissa Slotkin A bill will be submitted to Congress that would restrict or ban the import of connected cars made by Chinese companies if they are found to pose a threat to national security.

remember Spotify Spotify’s big push into hardware with its Car Thing device? It was short-lived. Spotify stopped making the device in July 2022 but said it would support existing users of the $100 device. Alas, those days are over. Spotify told customers that Car Thing will stop working after December 9, 2024.

Wheel of the Week

Cadillac-Optiq-Side Profile
Image Source: Cadillac

What is “This Week on Wheels”? It’s a chance to learn about the different transportation products we’re testing, whether it’s electric or hybrid cars, e-bikes, or even self-driving cars.

This week, TC Contributor Amy Hall Shared her 2025 Cadillac Optiq EVThis is the fourth electric vehicle Cadillac has released since 2022, but it’s worth noting that only one – the Lyriq – is currently on sale.

Hall goes into this in depth, so read on. For those who want the tl;dr: Cadillac is clearly looking to attract new, younger buyers in an effort to breathe new life into the luxury brand. The Optiq appears to be its answer—at least for now. The car is, as Hall puts it, “good-looking” and is the least expensive electric car in Cadillac’s lineup. In other words, Cadillac has created a seduction trap to attract younger buyers. But will it work? With so many midsize crossovers on the market today, it’s hard to stand out and attract buyers.

#Tesla #shareholder #raffle #layoffs #hit #Lucid #Fisker

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