TechCrunch Mobility is a weekly newsletter dedicated to all things transportation. Sign up here \u2014\u00a0just click TechCrunch Mobility<\/a>\u00a0\u2014 to receive the newsletter every weekend in your inbox. Subscribe for free.<\/em><\/p>\n Welcome back to TechCrunch Mobility<\/strong> \u2014 your central hub for news and insights on the future of transportation.<\/p>\n This week, it was all about Rivian<\/strong> and its splashy reveal of not one, but three future EVs. I attended the event to see the vehicles up close. Perhaps, more importantly, I also went to talk to executives, investors and customers to get a better understanding of where Rivian is headed and how folks are feeling about this EV upstart that is still far from turning a profit. I even ran into former Waymo CEO and now Rivian board member John Krafcik<\/strong> who was in attendance and cast a positive tone about the company\u2019s future.<\/p>\n I also interviewed founder and CEO RJ Scaringe<\/strong> after the event. Much of our conversation centered around the R2 and a big and hopefully fruitful bet to shift production to its existing factory in Normal, Illinois instead of a yet-to-be-built plant in Georgia. Stay tuned in the next day or so for a complete rundown of the interview. I will give you one teaser: relevancy<\/em> was a theme.<\/p>\n Check out our coverage of the R2 reveal<\/a>, the surprise R3 and R3x<\/a>, how reservations are going<\/a> and a fun cinematic feature<\/a> found in one of the many R2 \u201cadventure\u201d accessories.<\/p>\n This week\u2019s news also includes articles about GM<\/strong> resuming sales of Chevrolet Blazer, a financial update from Turo<\/strong>, another EV reveal that showed a little muscle, and more!<\/p>\n One more thing \u2026 I\u2019ll be in Austin<\/strong> for SXSW<\/strong> this coming week.<\/p>\n I am moderating two panels, and I hope to see your smiling faces in the audience. The first panel, at 4 p.m. March 12, is entitled How Sustainable Mobility is Transforming the Last-Mile of Delivery<\/a> and will feature Shawn Xu<\/strong> of Lowercarbon Capital, Angali Naik<\/strong> of Cartken and Abby Wheeler<\/strong> of Uber.<\/p>\n The following day, and also at 4 p.m., I will moderate a panel called Mobility at the Speed of Trust: AV Purpose, Policy, and Performance<\/a> with Darran Anderson<\/strong>, who is director of strategy and innovation at Texas DOT, Jay Blazek Crossley<\/strong> of Farm&City and Katrin Lohmann<\/strong>, who is president of Volkswagen ADMT.<\/p>\n Please say hi if you\u2019re in town!<\/em><\/p>\n <\/a><\/p>\n No little birds this week \u2014 at least ones who provided verifiable information I could share. Y\u2019all have shared lots of spicy rumors though! Please keep reaching out; no tip is too small.<\/p>\n What I can share is an overview of the conversations I overheard at the Rivian R2 reveal<\/strong>, which was held March 7 at the South Coast Theater in Laguna Beach, California. (Rivian bought and restored<\/a> the theater last year).<\/p>\n Among staff, from the lowly to the higher ups, there was a mix of excitement and relief once the event was over. The mood was positive, but some employees were clearly still processing the layoffs that occurred recently. I heard from a few folks that upper execs had underestimated the buzz around the R3 and R3X \u2014 the two surprise reveals. Importantly, the R3 and R3x vehicles don\u2019t have a production date. (At least not a public one).<\/p>\n The guests I spoke to or overheard talking \u2014 a combination of media, loyal customers and investors \u2014 were overwhelming positive about what they saw. There were a few grumbles about the location of the charging port and I heard more than a few wonder if Rivian could hold on financially through 2026, when the company is expected to begin production of the R2.<\/p>\n Got a tip for us? Email Kirsten Korosec<\/strong>\u00a0at kirsten.korosec@techcrunch.com<\/a> or Sean O\u2019Kane<\/strong> sean.okane@techcrunch.com<\/a>.<\/em>\u00a0If you prefer to remain anonymous<\/strong>,\u00a0<\/em>click here to contact us<\/em><\/a>, which includes SecureDrop (<\/em>instructions here<\/em><\/a>) and various encrypted messaging apps.<\/em><\/p>\n Will Turo<\/strong> ever IPO? Fellow TechCrunch reporter Alex Wilhelm<\/strong> and I have a running joke about the company\u2019s long-delayed IPO; the company first filed an S-1 to go public in early 2022, and continues to update the document quarterly in preparation for an eventual offering. Alas, the venture-backed, peer-to-peer car rental service updated the S-1 once again with its fourth-quarter and full-year financial performance.<\/p>\n That suggests, as Wilhelm notes<\/a>, that a public offering is still a key priority for Turo. Why else bother with the added paperwork?<\/p>\n While this isn\u2019t a deal, per se. I do think it\u2019s worth highlighting how the company is faring, per its latest financial reporting.<\/p>\n Turo saw an 18% uptick in year-over-year revenue to $879.8 million. That seems like good news until you look at Turo\u2019s growth rate, which has dramatically declined in the last two years. Revenue growth did perk up a bit in Q4 2023 compared to the same quarter the previous year, a data point that could help it argue to public-market investors that its deceleration is not necessarily irreversible, Wilhelm wrote.<\/p>\n Also, Turo is actually profitable, which is no small thing. Gross margins did devolve from 54.3% in 2022 to 51.4% in 2023 and the company posted its smallest operating profit since 2020 last year. However, Turo is still in the black and that has me betting that an IPO is coming in 2024.<\/p>\n Other deals that got my attention \u2026<\/strong><\/p>\n REE<\/strong>, an automotive technology company and makes full by-wire electric trucks and platforms,\u00a0closed its public offering of 2.3 million Class A ordinary shares, raising about $14.95 million. Multiple investors participated in the round, led by M&G Investment Management, REE\u2019s largest shareholder.<\/p>\n Serve Robotics<\/strong>, an autonomous sidewalk delivery company, qualified to trade on the OTCQB Venture Market operated by the OTC Markets Group Inc. The company\u2019s common shares are now trading on the OTCQB under the ticker symbol \u201cSBOT.\u201d<\/p>\n Uber Eats<\/strong> has added a live location-sharing capability<\/a> to help couriers find customers in difficult-to-find locations, including public places such as campus courtyards, parks and playgrounds.<\/p>\n Waze<\/strong> launched a few new features<\/a> to help users navigate tricky roundabouts, get alerts when a speed limit is about to change and get warnings about speed bumps and sharp curves. Question for readers: Am I the only one surprised that Google hasn\u2019t killed off Waze?<\/p>\n Baidu\u2019s<\/strong> autonomous ride hailing platform Apollo Go<\/strong> is now offering 24\/7 autonomous driving rides in selected areas of Wuhan, China. This is the third major operational expansion of Baidu\u2019s robotaxi service in 2024. The company was recently approved for robotaxi pilot operation on highways to Beijing Daxing Airport.<\/p>\n Waymo<\/strong> said it will start letting its autonomous vehicles traverse Austin without a safety operator<\/a> behind the wheel, a crucial step before the company opens the program up to the public.. The announcement comes less than a week after the Alphabet-owned company received a critical permit that allows it to charge for robotaxi rides<\/a> in Los Angeles, San Francisco highways and the greater SF Peninsula.<\/p>\n Faraday Future<\/strong> hit a new not-so-desirable milestone. The troubled EV company issued its first recall<\/a> that covers all 11 vehicles \u2014 yes less than a dozen\u00a0 \u2014 it built last year.\u00a0 The recall centers around a problem with the warning light for the airbags in the company\u2019s FF91 SUV.<\/p>\n General Motors<\/strong> resumed sales of the Chevrolet Blazer EV<\/a> \u2014 and at a cheaper price \u2014 more than two months after the automaker pulled the vehicle over software problems.<\/p>\n Rad Power Bikes<\/strong> launched four new e-bikes and a newly engineered battery equipped with thermal resistant technology to prevent overheating or fires. The new batteries are potted with a heat-absorbing resin that protects against corrosion and overheating, according to the company. It encapsulates each battery cell, and if overheating occurs, the resin is supposed to stop the thermal event from spreading.<\/p>\n Stellantis<\/strong> introduced two all-electric versions of the Dodge Charger<\/a> packed with the kind of features muscle car fans have come to expect \u2014 right down to a system that tries to mimic the rumble of a Hemi V-8 engine. Will the performance benefits in the all-electric Dodge Charger be enough to woo customers who are emotionally attached to grumbling gas-powered version? I\u2019m not so sure.<\/p>\n Tesla\u2019s<\/strong> factory outside Berlin, Germany was forced to shut down<\/a> after a\u00a0suspected arson attack on the local power grid. The shutdown, which was expected to last at least a week, could cost the company an estimated $100 million.<\/p>\nA little bird<\/h2>\n
Deal of the week<\/h2>\n
![\"money](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/10\/money-the-station.png\")
<\/a><\/p>\nNotable reads and other tidbits<\/h2>\n
![\"\"](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/12\/the-station-ride-hailing1.png\")
<\/a><\/h3>\nApps<\/h3>\n
Autonomous vehicles<\/h3>\n
Electric vehicles, batteries & charging<\/h3>\n
This week\u2019s wheels<\/h2>\n
![\"Rivian](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2024\/03\/IMG_2026.jpg?w=615\")
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