BY AUTOMOTIVE VENTURES | 22 MAY 2023 | VIEW ONLINE ➡️

Join me for the live stream of a first-ever TV show for the retail auto industry on May 24th at 1:00 PM ET. ‘

More Than Cars

’ visits dealerships to tell inspiring stories.

www.MoreThanCars.tv

The average age of U.S. cars and light trucks this year climbed to a record 12.5 years, reflecting the impact of supply constraints on dealer inventories of new vehicles in 2022, as well as reduced consumer demand from higher inflation and interest rates. (💲Link)

Could we see a $14k "pick-up" in the U.S.? Automaker SAIC-GM-Wuling has unveiled a tiny pickup concept in China based on a $14,000 electric SUV. (Link)Toyota believes that the transition to fully electric vehicles will take longer than people expect and that a multipronged approach that includes hybrids and other alternatives will reduce emissions faster in the meantime. “Eventually, resource limitations will end, but for many years we will not have enough battery material and renewable recharging resources for a BEV-only solution. Battery materials and renewable charging infrastructure will eventually be plentiful. But it will take decades for battery material mines, renewable-power generation facilities, transmission lines and seasonal energy-storage facilities to scale up.” (💲Link)Looks like we may be on the cusp of 600 miles of range. Although it won't come cheap. NIO has filed for regulatory approval of three electric vehicles that will use batteries by semi-solid-state battery supplier WeLion that have versions with 150 kWh semi-solid state battery packs that would give them the promised 600+ miles of range. Apparently, the semi-solid state battery that WeLion is providing costs as much as a small sedan itself, so NIO said it may rent it to its customers for longer trips this summer at its network of battery swap stations. (Link)Even by 2030, China will make more than twice as many batteries as every other country combined. Although China has few underground deposits of essential ingredients, it has pursued a long-term strategy to buy its way into a cheap and steady supply. Chinese companies, relying on state assistance, acquired stakes in mining companies on five continents. (💲Link)Companies are rethinking the value of many white-collar roles, in what some experts anticipate will be a permanent shift in labor demand that will disrupt the work life of millions of Americans whose jobs will be lost, diminished or revamped partly through the use of artificial intelligence. (💲Link)Artificial intelligence offers the biggest potential long-term support for US profit margins, according to Goldman Sachs strategists, who add that AI can boost net margins by nearly 400 basis points over the next decade. (💲Link)

Have a great week,Steve Greenfield

Forwarded this email and not yet a subscriber? 

The Automotive Ventures Mobility investment thesis. (Link)

🗣️Kathryn Schifferle from Work Truck Solutions and I had a great conversation about The Future of Automotive Commercial at the latest Commercial Vehicle Business Summit. Click below to watch the segment. (Link)🎤 On this week's Future of Automotive segment on CBT News I interview Andrea Amico from Privacy4Cars about their new Vehicle Privacy Report. (💲Link)

🌟 ev.energy developed a smart, cloud-based platform that automatically optimizes EV charging, for a greener, cheaper and simpler charge. 

(Link)

🌟 Chex.AI is an all-in-one solution tailored towards safety inspections and compliance for the mobility industry. (Link)

🚜 AgTech & IndustrialAgriculture robotics startup Ecorobotix raised a $52 million Series B for its automated precision spraying robots for row crops and pastures. (Link)

✈️ Air Mobility & SpaceEchodyne, the radar platform company, announced a minority investment from Supernal, Hyundai Motor Group's Advanced Air Mobility (AAM) company. Supernal is developing an electric vertical takeoff and landing (eVTOL) vehicle and is targeting launch of commercial flights in 2028. (Link)

🦾 Autonomy, Robotics & AI

AutoCore.ai  completed a Series A+ round. Established in 2018, the company created a complete and unified in-vehicle data platform for OEMs. (Link)Ethernovia, focused on software and hardware for vehicles, has completed a $64 million Series A. Ethernovia is developing a seamless, holistic and streamlined hardware and software system that meets this demand through the integration of advanced networking features targeting the future of software-defined vehicles. (Link)Teleoperations company Phantom Auto raised $25 million. Founded in 2017, the company developed a teleoperation platform that allowed a remote driver, sometimes located thousands of miles away, to operate a vehicle if needed. Initially, the company was focused on applying the technology to autonomous vehicles on public roadways such as robotaxis and self-driving trucks. But the company’s executive team quickly realized that even with its technology, large-scale commercial deployments of driverless vehicles on public roads was decades away. Today, the Phantom Auto remote driving system is used to operate vehicles such as forklifts and yard trucks that have no autonomy. (Link)

⚡Electrification & Alternative Fuels

ASHNNI Motors, an India-based EV startup, raised $244,000 (Rs 2 crore) in a Pre-Seed round. The startup plans to utilize the funds to produce the first batch of first-generation vehicles and in-house production of Li-ion battery packs. (Link)dcbel secured a strategic investment from the Volvo Cars Tech Fund. The company promises to ease strain on the electric grid: when connected to a compatible smart charger like dcbel r16, bidirectional cars (together with other energy storage systems) can form a virtual power plant, helping control energy demand and sell energy back to the grid. Bidirectional charging also offers many benefits for homeowners, who can leverage EV energy to power their home at times of peak utility pricing or during a power outage, and to be compensated for selling energy back to the grid. (Link)French EV charging company DRIVECO raised €250 million. Starting out life in 2010 as a spinoff from solar energy developer Corsica Sole, Driveco operates the second largest French electric vehicles charging network open to the public, with over 8,000 charging points in operation or under construction. (Link)Fuuse, focused on EV charging management software, has raised £2.5m. Founded in 2021, Fuuse’s software allows operators to manage their EV charging infrastructure by controlling access, use times and setting tariffs. (Link)hylane, a hydrogen truck leasing company, has secured €25 million in funding to expand its fuel cell electric vehicles fleet and reduce rental rates for customers. (Link)National Grid Partners has made an investment into ev.energy. The U.K.-based company's software lets electric vehicle owners optimize the time at which they charge their cars and helps utility companies better manage that customer charging load. (Link)JOLT ENERGY, an Irish-founded company that creates EV charging stations, has raised €150 million. Over the next few years, Jolt plans to install thousands of its “ultra-fast” charging stations across multiple cities in Europe and North America. (Link)India-based RACEnergy, a startup providing battery-swapping services, has raised US$3 million. (Link)Stellantis will acquire an equal one-third stake in Symbio, the hydrogen fuel cell joint venture between Michelin and Faurecia. Faurecia said it would receive 150 million euros ($163 million) from Stellantis in the deal, an amount that would be part of a planned 1 billion euro asset disbursement program. (💲Link)German startup Voltfang raised €5 million. The startup builds and connects energy storage solutions from second-life EV batteries. The startup leverages AI-based software to evaluate battery longevity, enabling the reuse of EV batteries and mitigating waste. (Link)

🛴 MicromobilityBBROS Mobility, an India-based electric scooter manufacturer, has secured its initial seed investment of USD $185k. BBROS is engaged in the creation of two high-speed electric scooters, which are scheduled to be launched by the second quarter of 2024. (Link)BGF has led a £19 million ($23.6 million) minority investment in Brompton Bicycle, maker of the folding bike. BGF said Brompton had been independent since 1975, owned by the founder Andrew Ritchie, current CEO Will Butler-Adams, friends and family, and staff. (Link) 

🚛 Supply Chain & Logistics

Zyngo EV Mobility, a tech-enabled third-party logistics service provider, raised USD $5 million in Pre-Series A funding. Zyngo offers last-mile delivery solutions through a fleet of electric vehicles. (Link)

🏎️ Early-stage AutoTech or Mobility founder? We'd love to hear from you.🏁 Interested in investing directly into early-stage AutoTech and Mobility companies? Check out The Automotive Ventures Investment Club (AVIC)✨ Looking for our Dealership AutoTech Company Landscape? View that here.✨ Looking for our Mobility Tech Company Landscape? View that here.🚀 Interested in exploring Automotive Ventures' portfolio companies shown below? Check them out here.