BY AUTOMOTIVE VENTURES | 8 MAY 2023 | VIEW ONLINE ➡️

Even as inflation is easing and global chip supply shortages are beginning to resolve, more Americans are being priced out of the nation’s new car market. (💲Link)

EVs will account for nearly a fifth of global automobile sales in 2023 (this figure was 4% in 2020) a report by the International Energy Agency (IEA) notes. EV sales are set to grow by 35% this year to reach 14 million units in 2023. (Link)Tesla is trying to get owners of older Model S and Model X with “unlimited free Supercharging for life” to give up the perk with a new offer: six years of unlimited Supercharging when buying a new Model S or Model X by the end of the quarter. (Link)Tesla released its 2022 Impact Report, disclosing numbers on its supply chain emissions for the first time, which makes its overall carbon footprint much bigger than it has reported in the past. (Link)EY reports that vehicle recalls have cost the industry $40 billion to $50 billion annually in recent years. And more than 40 percent of that is related to software. (💲Link)By 2028, automakers in the United States will use Over-the-Air (OTA) update capabilities to save US$1.5 billion by remotely implementing fixes to product recalls. (Link)Artificial intelligence (AI) could replace the equivalent of 300 million full-time jobs, and could eventually increase the total annual value of goods and services produced globally by 7%. (Link)IBM Chief Executive Officer Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years: “I could easily see 30% of that getting replaced by AI and automation over a five-year period.” (💲Link)The question we should be asking is: as A.I. becomes more powerful and flexible, is there any way to keep it from being another version of the consulting firm McKinsey & Company? (Link)A quick primer on SAFE notes ("Simple Agreement for Future Equity"), an investment construct developed by Y Combinator, that was designed for very early-stage startups looking to raise funds. (Link)Have a great week,Steve Greenfield

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🎤 On this week's "Future of Automotive" segment on CBT News, we outline how Mobility solutions can address some of humanity's biggest challenges. (💲Link)🎤 Steve Greenfield will be presenting at this week's Agent Summit in Las Vegas on "The Future of Automotive." (Link)

🌟 I-5O is

 a computer vision platform for manufacturing. Measure and improve manual production processes using AI-powered vision systems. (Link)

🌟 

BaTTeRi

offers EV Charging as a Service (CaaS), with zero infrastructure, based on a proprietary charging robot, Thomas: enabling rapid DC EV charging in every parking spot.

 (Link)

✈️ Air Mobility & SpaceAustralia’s Rex Airlines has taken a 20% equity stake in Dovetail Electric Aviation. Dovetail is focused on the retrofitting of existing turboprop models with electric and hydrogen-electric fuel cell powerplants. (Link)Baillie Gifford is buying nearly 44 million newly issued shares in Joby Aviation, a $180 million injection of capital into the company as it continues to develop all-electric aircraft for a commercial passenger service. (Link)Lilium will raise up to $250 million, including from its largest shareholder Tencent Holdings, to fund the development of its eVTOL (electric vertical take-off and landing) jet. (💲Link)Wizz Air, Europe’s fastest-growing and most environmentally sustainable airline globally, announced a £5 million investment in a biofuel company, Firefly Aerospace. Firefly specializes in a process, which converts sewage sludge, a low-value waste product available in large quantities, into Sustainable Aviation Fuel (SAF). (Link)Zipline, the drone delivery startup that specializes in medical supplies and blood, is now valued at $4.2 billion after raising $330 million in a Series F funding round. Recently, it announced a new autonomous drone, the P2 Zip, which can carry eight pounds of cargo at a range of 10 miles, targeting the e-commerce market. (Link)

🦾 Autonomy, Robotics & AI

Gentex Corp., supplier of high-tech rearview mirrors, dimmable glass and automotive electronics, is investing in and collaborating with ADASKY, an Israeli company that has created a small thermal camera. Such a device can be used to improve the safety of self-driving cars and to help reduce accidents involving pedestrians. (Link)Foretellix, an Israeli startup that provides simulation technology for improving automated-driving systems, raised $43 million in its latest funding round. Terms of the investment were not disclosed. Foretellix's technology reduces the time to validate and test autonomous vehicles. (Link)

⚡Electrification & Alternative Fuels

Gage Zero, a startup enabling the turnkey electrification of commercial transportation vehicles, announced an investment led by ARC Financial. The companies plan to deploy upwards of $300 million in equity to develop electric vehicle (EV) charging infrastructure solutions for fleet customers. (Link)Infyos, a startup focused on battery regulation, announced a pre-Seed round from Pale blue dot, Nucleus Capital, and Intercalation. The investment amount was not disclosed. (Link)Octet Scientific, a Cleveland-based maker of specialty chemicals for safe, sustainable batteries, has completed its seed-stage fundraising round. Octet is the world's first developer of specialty chemicals for zinc-based batteries, an inexpensive, nontoxic, and sustainable alternative to lithium-ion and lead-acid. (Link)

Selex Motors, a Vietnamese electric vehicle and battery pack manufacturer, has raised a US$3 million convertible note investment round. The firm’s electric two-wheeler vehicles are designed for high-usage applications. It also has a battery-swapping solution that enables users to charge their EVs for up to 150 kilometers of travel in under two minutes. (Link)Urban mobility tech startup Swobbee secured an additional €2 million in an extended Series A round. Based in Berlin, Swobbee provides rental batteries and battery-swapping stations – offering a unique battery-swapping system. (Link)

🛴 MicromobilityFolding bikes specialist Ahooga Bike raised multimillion funds to support the development and engineering of its next-generation compact e-bikes. (💲Link)HumanForest has raised £12 million in a Series A fundraising round that will allow the micromobility company to double the size of its London e-bike fleet. The new funds include a £5m project finance facility and a £7m equity investment. (Link)

French mobility startup Pony closed a $6.6M funding round and projects 2023 will be its first profitable year. Pony has managed to differentiate itself from the rest of the shared mobility market with a unique decentralized ownership structure of its bikes and scooters. (Link)TIER Mobility, the electric scooter group, is exploring a potential sale or merger with a rival as investors push operators to seek consolidation opportunities amid mounting financial losses. (Link)Zeus Scooters announced the acquisition of Zipp Mobility, the Irish shared e-scooter and e-bike service provider, for an undisclosed sum. (Link)

 🚛Supply Chain & Logistics

Canadian trucking and logistics provider Mullen Group is acquiring fellow Alberta carrier B & R Eckel's Transport Ltd. Financial terms of the transaction were not provided. (Link)GoodShip, a collaborative cloud-based analytics and transportation procurement platform for shippers, announced a $5M Seed round. The raise brings GoodShip’s total funding to $7.4M. (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.