Welcome back to\u00a0TechCrunch Mobility<\/strong> \u2014 your central hub for news and insights on the future of transportation. Sign up here \u2014\u00a0just click TechCrunch Mobility<\/a>\u00a0\u2014 to receive the newsletter every weekend in your inbox. Subscribe for free.<\/p>\n Welp, Tesla<\/strong> earnings happened this week \u2014 and yeah that was a lot.\u00a0<\/em>A lot of what, you ask? A lot of the same kinds of promises and hand waving we\u2019ve seen before, but just wrapped up in slightly different packaging. The stakes this time around remind me of Tesla\u2019s pre-profit era circa 2018.<\/p>\n Now, to be clear, Tesla has enjoyed profitability since 2020. But it is facing downward pressure on its bottom line \u2014 the company saw profits fall 55% year over year<\/a> \u2014 and an aging portfolio of its highest volume vehicles. (And yes, we covered the new Model 3 Performance variant<\/a>; I\u2019m talking about new mass market models here.)<\/p>\n Tesla CEO Elon Musk<\/strong> need to generate new sources of revenue. And fast. The company can\u2019t wait two years \u2014 or more \u2014 to launch a new platform to deliver a sub-$25,000 EV.<\/p>\n So, Musk tweaked that plan, from what we know so far. Which isn\u2019t a lot. During the Q1 earnings call, Musk presented an opaque plan, with few details, to launch multiple cheaper EVs<\/a> in 2025 (and maybe even late 2024).<\/p>\n Musk understands that the market has rewarded him in the past for being a forward thinker and an innovator \u2014 even if those plans don\u2019t come to fruition. So, Musk also pulled on that futurist lever, promising greater levels of automated driving capability in its FSD driver-assistance software and a robotaxi (again). Lest you forget, Musk announced during the company\u2019s Autonomy Day in 2019 that Tesla was going to launch a robotaxi network<\/a> by the following year. Musk has talked about the Tesla Network and ambitions to allow owners to place their vehicles on the ride-hailing app since 2016.<\/p>\n Shareholders responded with glee because the future is now, or maybe next year. Okay, maybe at the end of the decade? Anyway, it\u2019s exciting.<\/p>\n In an unrelated note, the recently departed high-profile Tesla exec Drew Baglino <\/strong>sold about 1.14 million of his shares worth <\/a> $181.47 million. The filing described it as an exercise of stock options.<\/p>\n Let\u2019s go!\u00a0<\/em><\/p>\n <\/a><\/p>\n A little bird<\/strong> pointed out to me that Valeo<\/strong> CTO Geoffrey Bouquot<\/strong> is leaving the company after eight years. For the unfamiliar, Valeo is a French car parts supplier that has pushed into the EV and automated driving space. The company even has an AI research center dedicated to automotive applications.<\/p>\n That EV sector had been promising for Valeo, but this recent quarter reflected what is happening in the rest of the sector. The company posted lower first-quarter sales after its high-voltage electrification system sales fell by nearly half. Valeo is now adjusting to automakers\u2019<\/a> needs aka hybrids.<\/p>\n Got a tip for us? Email Kirsten Korosec<\/strong>\u00a0at kirsten.korosec@techcrunch.com<\/a>, Sean O\u2019Kane <\/strong>at sean.okane@techcrunch.com<\/a> or Rebecca Bellan <\/strong>at rebecca.bellan@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 Who\u2019s got deals? We do. Here are a handful that stood out.<\/p>\n Chemix<\/strong>, a company using AI to speed up the development of next-gen EV batteries, raised $20 million<\/a> in a Series A funding round led by Ibex Investors. Other participants included Mayfield Fund, Berkeley SkyDeck and Urban Innovation Fund as well as strategic investors BNP Paribas Solar Impulse Venture Fund, Global Brain\u2019s KDDI Open Innovation Fund III and Porsche Ventures.<\/p>\n LanzaJet<\/strong>, a sustainable fuels technology company and fuels producer, received an undisclosed investment from Microsoft\u2019s Climate Innovation Fund. A report in Axios Pro<\/a> says the company is raising $100 million and expects to close this quarter.<\/p>\n Outpost<\/strong>, an Austin, Texas-based startup that manages a network of semi-truck parking facilities, raised $12.5 million<\/a> in a Series A funding round led by GreenPoint Partners. The newly branded company, founded in 2021 under the name Semi-Stow, also received backing from Speedwagon Capital Partners.<\/p>\n Radical,<\/strong> a Seattle-based startup developing solar-powered, high-altitude autonomous aircraft, raised $4.5 million<\/a> in a seed round led by Scout Ventures, with additional funding from investors, including Inflection Mercury Fund and Y Combinator.<\/p>\n Solera<\/strong>, the automotive data and software-as-a-service company, is evaluating an initial public offering that could raise more than $1 billion, Bloomberg reported<\/a>.<\/p>\n Stark Future<\/strong>, a Spanish startup that makes off-road electric motorcycles, raised \u20ac25 million<\/a> from Big Bets. The company will use the funds to expand production capacity for its Stark VARG electric off-road motorcycle.<\/p>\n The National Highway Traffic Safety Administration<\/strong> closed a long-standing investigation into Tesla\u2019s Autopilot driver-assistance system<\/a> after reviewing hundreds of crashes involving its misuse, including 13 that were fatal and \u201cmany more involving serious injuries.\u201d Tl;dr: The agency called Tesla\u2019s driver engagement system \u201cweak\u201d and said it was \u201cnot appropriate for Autopilot\u2019s permissive operating capabilities.\u201d<\/p>\n TC reporter Rebecca Bellan<\/strong> has been keeping track of legislative activity in California \u2014 one of the hotbeds of AV activity. Check out the latest on four bills that are being considered by the state legislature and how one in particular could put cities in a more powerful position<\/a>.<\/p>\n Faraday Future<\/strong> is about to get booted<\/a> from the Nasdaq Capital Market \u2014 a tier within the exchange for lower valued companies \u2014 because its share price has been too low, for too long.<\/p>\n Fisker<\/strong> is planning more layoffs<\/a> less than two months after\u00a0cutting 15% of its workforce. The company expects to seek bankruptcy protection within the next 30 days if it can\u2019t come up with that money, according to a regulatory filing.<\/p>\n Mercedes<\/strong> gave us a close look at the upcoming all-electric G-Class <\/strong>\u2014 the \u201cBirkin bag\u201d of the automaker\u2019s portfolio. Read more about how it compares<\/a> to the gas-powered version.<\/p>\n Rivian<\/strong> is offering discounts<\/a> of up to $5,000 on its EVs \u2014 and a year of free charging \u2014 to customers willing to trade in eligible gas-powered trucks and SUVs. Those eligible vehicles, which include the Ford F-150, reveal what customers Rivian is targeting.<\/p>\n Amazon<\/strong> ended Prime Air drone delivery operations<\/a> in Lockeford, California. The Central California town of 3,500 was the company\u2019s second U.S. drone delivery site, after College Station, Texas.<\/p>\n Joby Aviation<\/strong>, the California company developing electric aircraft, signed a memorandum of understanding agreement with three Abu Dhabi government departments to establish an electric air taxi service<\/a> ecosystem.<\/p>\n Zipline<\/strong> passed a major milestone this week. One of its autonomous drones, called \u201cZips,\u201d carried two bags of IV fluid from Zipline\u2019s distribution center in Ghana\u2019s Western North Region to a local health facility \u2014 the company\u2019s millionth delivery<\/a>.<\/p>\n Here\u2019s a nerdy one I enjoyed. Automotive electronics supplier Elektrobit<\/strong> announced EB corbos Linux for Safety Applications. What do those words even mean? Ars Technica has a nice explainer<\/a>, but basically Elektrobit developed an open source-based automotive operating system that has been certified for automotive safety compliance. If you care about \u201csoftware-defined vehicles<\/a>,\u201d this matters!<\/p>\nA little bird<\/h2>\n
Deals!<\/h2>\n
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<\/a><\/p>\nNotable reads and other tidbits<\/h2>\n
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<\/a><\/h3>\nADAS<\/h3>\n
Autonomous vehicles<\/h3>\n
Electric vehicles, charging & batteries<\/h3>\n
Future of flight<\/h3>\n
In-car tech<\/h3>\n
This week\u2019s wheels<\/h2>\n
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