Summary:
Jeff Bezos backs a secretive EV startup called Slate Auto.
Lucid Motors acquires Nikola's assets out of bankruptcy for $30 million.
Tariffs remain a significant concern for the EV sector, especially against China.
Ayan Capital raises ÂŁ25 million for halal vehicle financing.
Waymo prepares to use robotaxi data for generative AI training.
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation.
Tariffs Galore
If there is one certainty in this uncertain moment, it’s that U.S. tariff policy is likely to change again. Currently, there is a 90-day pause on “reciprocal” tariffs placed on most countries, but 10% base tariffs remain. President Trump has increased tariffs against China to about 145%.
Analyst Dan Ives from Wedbush Securities has slashed his price targets for Apple and Tesla due to these tariffs disrupting their businesses. While the transportation sector, especially EV companies using LFP (lithium iron phosphate) batteries, may find temporary relief, they remain highly exposed to the tariffs on Chinese imports.
Image Credits: Bryce Durbin
A Little Bird
Nearly a year ago, a little bird tipped us off about a secretive EV startup called Slate Auto. After extensive investigation, it was revealed that Jeff Bezos is backing the company, alongside notable investors like Mark Walter and Thomas Tull. The details of Slate’s origin story, business model, and even a spy shot of their upcoming EV pickup truck have emerged.
Deals!
In surprising news, Lucid Motors has acquired some of Nikola’s assets out of bankruptcy for around $30 million. This includes the factory, the lease on Nikola’s Phoenix headquarters, and various machinery.
Other notable deals include:
- Ayan Capital raised ÂŁ25 million for halal vehicle financing.
- Nowos, a battery repair startup, secured €6 million to scale operations across Europe.
- Nuro raised $106 million in a Series E round, bringing its total funding to $2.2 billion despite a drop in valuation.
- Parallel Systems, focusing on autonomous electric freight, raised $38 million in a Series B round.
Notable Reads and Other Tidbits
ADAS
- Elon Musk’s government cuts have impacted NHTSA employees working on vehicle automation safety.
- Nissan will use Wayve’s automated driving software for enhanced driver-assistance systems starting in 2027.
Autonomous Vehicles
- Waymo plans to use robotaxi data to train generative AI models.
- Zoox is testing a fleet of retrofitted vehicles in Los Angeles.
Electric Vehicles, Charging, & Batteries
- A judge ruled that Canoo's CEO can buy assets from the bankrupt EV startup.
- Elon Musk’s political activities are affecting Tesla’s sales, with used listings skyrocketing and competitors seeing an uptick in sales due to discounts.
Stay tuned for more updates in the ever-evolving world of transportation!
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