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Interested in investing directly into early-stage AutoTech and Mobility companies? Check out the new
Article of the week:
For all the optimism, the battery recycling business faces a daunting challenge: Few batteries will be available to recycle for a decade or more. That has left recycling companies in a difficult position. They need to invest in factories, machinery and workers or risk losing ground to competitors. But if they invest too quickly, they could run out of money before lots of aging batteries arrive at their loading docks. The companies also have to figure out how to find, collect and dismantle batteries. They have to work with many dismantlers, scrap yards and nonprofit groups. And because batteries are prone to fires and packaged and built differently from model to model, taking them apart can be complicated and dangerous (
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Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
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Enjoy and Happy New Year!
Last Week's Auto-Tech Transactions:
Electrification & Alternative Fuels:
, a battery manufacturer, has raised $214 million from investors that include Microsoft’s Climate Innovation Fund. Group14 has developed a silicon-carbon composite material that can replace the graphite anodes in lithium-ion batteries, improving their performance by 50% and providing faster recharging times, according to the company. Group14 reports that it is valued at more than $3 billion and has more than 100 employees. (
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Stellantis has entered exclusive talks with France's Faurecia and Michelin to buy a "substantial" stake in their
joint venture, a fuel cell system maker for hydrogen mobility. Stellantis, the world third-largest carmaker, launched hydrogen-powered mid-size vans late last year and aims to expand its hydrogen offer to large vans in Europe in 2024 and in the U.S. in 2025, "while further exploring opportunities for heavy-duty trucks". (
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Vehicle Production & Assembly:
Canadian supplier Magna International has agreed to buy
from investment firm SSW Partners for $1.53 billion in cash to bolster its portfolio of self-driving technology. The deal is expected to add to Magna's sensor and full systems capabilities, including radar, camera and driver monitoring, and add 2,200 engineers for systems, software and sensor development (
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sold more than 56.2 million shares of its common stock for gross proceeds of approximately $600 million. The successful capital raise of approximately $1.515 billion, which includes approximately $915 million that Lucid expects to raise through the private placement of approximately 85.7 million shares to an affiliate of the Public Investment Fund (PIF) and Ayar Third Investment Company. (
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Autonomy, Robotics & AI:
, a startup developing software designed for advanced driver assistance systems raised $31 million in a Series C round led by Freeman Group, just one year after it snagged $26 million in venture funding. This latest round, which included ACVC Partners, Amplo and strategic investors American Honda Motor Company, Goodyear Ventures and Sungwoo Hitech, has pushed Helm.ai’s valuation to $431 million. (
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Aptiv has completed its acquisition of
at a lower valuation due to changes brought on to conclude the regulatory approval process. The technology company said the transaction is valued at $3.5 billion instead of the initial purchase price of $4.3 billion agreed to in January. (
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Parking, Traffic & Smart City:
, a four-year-old startup that has just closed a $9 million seed round to advance its automated curb management solution. The most recent funding was led by CityRock Venture Partners. Automotus works with cities like Santa Monica, Los Angeles, Pittsburgh, Omaha and Bethlehem to automate payments for vehicle unloading and parking, enforce curb violations and manage preferred loading zones and discounted rates for commercial EVs, the startup said. (
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Supply Chain & Logistics:
Technology solutions provider Trimble Inc. has announced it will acquire German logistics company
, which uses a cloud-based TMS to connect carriers, logistics service providers and shippers. The all-cash deal unveiled is valued at $1.98 billion and expected to close in the first half of 2023. Trimble (NASDAQ: TRMB) is a Sunnyvale, California-based supply chain technology provider for trucking companies, freight brokerages and 3PLs. (
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Have a great week,
Steve Greenfield
678.576.9972
