{"id":6425,"date":"2025-02-21T13:26:36","date_gmt":"2025-02-21T13:26:36","guid":{"rendered":"https:\/\/fusionmindlabs.com\/blogs\/electric-flight-bet-falls-short\/"},"modified":"2025-02-21T13:26:36","modified_gmt":"2025-02-21T13:26:36","slug":"electric-flight-bet-falls-short","status":"publish","type":"post","link":"https:\/\/fusionmindlabs.com\/blogs\/electric-flight-bet-falls-short\/","title":{"rendered":"Electric flight bet falls short"},"content":{"rendered":"\n<\/p>\n
\n

Welcome to TechCrunch Mobility<\/strong>, your primary source for news and insights into the future of transportation. You can sign up for our newsletter for free by clicking on TechCrunch Mobility<\/a>!<\/p>\n

Fifteen years have passed since I first started covering a small EV startup that was struggling to stay afloat amidst the clean tech boom-and-bust cycle. The company in question was Tesla<\/strong>, which at the time had garnered the attention of a select group of celebrities and EV enthusiasts, but its reach was relatively limited.<\/p>\n

A lot has changed since then. The profile of its largest shareholder and CEO, Elon Musk<\/strong>, has evolved significantly. His companies, including SpaceX<\/strong>, Tesla<\/strong>, X<\/strong>, xAI<\/strong>, Neuralink<\/strong>, and The Boring Company<\/strong>, have proliferated. Furthermore, he is utilizing his network to find talent to support the Department of Government Efficiency<\/strong>, an entity established through President Trump’s executive order.<\/p>\n

I recently utilized my extensive knowledge of Musk, gained from years of covering his activities, and collaborated with several TechCrunch<\/strong> editors and reporters. Our objective was not only to identify individuals working at DOGE but also to help readers understand their connection to Musk’s universe<\/a>.<\/p>\n

This is a dynamic document, and we will regularly update it as we continue our reporting. If you have any information or insights about DOGE, its employees, or related topics, please reach out to me at kirsten.korosec@techcrunch.com<\/a> or my Signal at kkorosec.07.<\/p>\n

A Little Bird<\/h2>\n
\"blinky
Image Credits:<\/strong>Bryce Durbin<\/span><\/figcaption><\/figure>\n

Do you have a tip for us? You can email Kirsten Korosec at kirsten.korosec@techcrunch.com<\/a>, Sean O\u2019Kane at sean.okane@techcrunch.com<\/a>, or Rebecca Bellan at rebecca.bellan@techcrunch.com<\/a>. Alternatively, you can check out these instructions<\/a> to learn how to contact us via encrypted messaging apps or SecureDrop.<\/em><\/p>\n

Deals<\/h2>\n
\"money
Image Credits:<\/strong>Bryce Durbin<\/span><\/figcaption><\/figure>\n

This week’s deals were somewhat subdued, with a partnership that ended before it began, a shutdown, a bankruptcy, and one failed IPO.<\/p>\n

Nikola<\/strong>, a beleaguered hydrogen-electric truck manufacturer, has finally filed for bankruptcy<\/a> after struggling to raise sufficient funds to continue operations or find a buyer. This follows a series of scandals surrounding its founder and former CEO Trevor Milton, who was convicted of securities and wire fraud for making exaggerated claims about the company’s electric truck technology.<\/p>\n

Meanwhile, peer-to-peer car-sharing startups experienced a chaotic week.<\/p>\n

Getaround<\/strong>, a San Francisco-based startup and VC darling turned publicly traded SPAC, shut down its US operations<\/a> just one year after cutting 30% of its North American workforce as part of a restructuring. Getaround now focuses on its European business, operating in six countries, including Norway, Spain, France, Germany, Belgium, and Austria.<\/p>\n

The most surprising aspect of this shutdown was how the company handled it. The board made the decision on February 7 but didn’t inform owners and renters about the closure until February 12. Furthermore, their insurance coverage would expire by the end of the day.<\/p>\n

Turo<\/strong> has called off its long-awaited IPO<\/a>. Although the company publicly filed for an initial public offering in January 2022, IPO conditions changed soon after, making it seem unlikely that Turo would finally IPO in 2025.<\/p>\n

Other deals that caught my attention:<\/strong><\/p>\n

Aurora<\/strong> entered into an agreement to sell up to $500 million<\/a> in stock at an “at-the-market” offering. According to its Q4 2024 earnings report, Aurora has sufficient cash to cover initial commercialization in April, but this agreement enables the company to raise funds quickly in the future if needed.<\/p>\n

Fetii<\/strong>, a group ride-share app based in Austin, raised a $7.35 million seed round<\/a> led by Mark Cuban, with participation from Y Combinator, Goodwater Capital, and others.<\/p>\n

The proposed $60 billion mega-merger<\/a> between Honda<\/strong> and Nissan<\/strong> has collapsed. According to Reuters’ sources, pride is partially to blame for the deal’s demise.<\/p>\n

One Equity Partners<\/strong>, a private equity firm, is acquiring<\/a> Wheeler Fleet Solutions<\/strong>, an aftermarket parts distribution company, although the terms of the deal were not disclosed.<\/p>\n

Saronic<\/strong>, a military drone-boat manufacturer, has raised $600 million<\/a> in funding at a $4 billion valuation, with General Catalyst leading the round into the less-than-three-year-old company.<\/p>\n

Notable Reads and Other Tidbits<\/h2>\n
\"\"
Image Credits:<\/strong>Bryce Durbin<\/span><\/figcaption><\/figure>\n

Autonomous Vehicles<\/h3>\n

Avride<\/strong>‘s autonomous sidewalk delivery robots are now delivering orders for Uber Eats<\/a> customers in Jersey City.<\/p>\n

Waymo<\/strong> might launch a membership program<\/a>. Some Los Angeles customers received a survey invitation asking them which types of memberships they would be most likely to choose. When asked, Waymo stated that it regularly conducts research and experiments to determine what features, promotions, and experiences riders might like but didn’t share any further information.<\/p>\n

Serve Robotics<\/strong> has launched its delivery bots<\/a> in Miami. The company also expanded its existing partnership with Shake Shack and added another with Mister O1 Extraordinary Pizza, so customers in Miami ordering from those restaurants on Uber Eats might have their food delivered by a bot.<\/p>\n

Electric Vehicles, Charging, & Batteries<\/h3>\n

Elon Musk<\/strong>‘s political activities, particularly his involvement in the Department of Government Efficiency, have turned some consumers against Tesla<\/strong>. Senior reporter Sean O’Kane connected with two people who organized the Tesla Takeover movement<\/a>, which led to protests at Tesla showrooms in dozens of US cities.<\/p>\n

Blue Whale Materials<\/strong>, a lithium-ion battery recycling company, has partnered<\/a> with Call2Recycle<\/strong> to advance domestic battery recycling and meet the need for domestically sourced battery materials.<\/p>\n

Future of Flight<\/h4>\n

Beta Technologies<\/strong> has been relatively under the radar in the electric aviation industry, but the startup has been quietly growing its business and accumulating more piloted flight hours than anyone else under the leadership of its tattooed, enigmatic founder and CEO, Kyle Clark<\/a>, writes senior reporter Rebecca Bellan.<\/p>\n

The Trump administration<\/strong> fired hundreds<\/a> of Federal Aviation Administration employees who maintain critical air traffic control infrastructure. These firings come as Elon Musk’s SpaceX has been tapped<\/a> to help create a new air traffic control system.<\/p>\n

Micromobility<\/h3>\n

Lime<\/strong> reported<\/a> its second consecutive year of being free cash flow positive. The scooter and bike-share company also stated that its adjusted EBITDA exceeded $140 million for 2024, up from $94 million in 2023. Note that these results are unaudited.<\/p>\n

Ride-hailing and Gig Economy<\/h3>\n

Uber<\/strong> filed a lawsuit against<\/a> DoorDash<\/strong>, accusing the delivery company of stifling competition by intimidating restaurant owners into exclusive deals.<\/p>\n

This Week’s Wheels<\/h2>\n
\"\"
Image Credits:<\/strong>Hyundai<\/span><\/figcaption><\/figure>\n

We’re back with another edition of This Week’s Wheels, this time featuring the 2025 Hyundai Ioniq 5<\/strong>, which ranges in price from $43,975 to $59,575, depending on the trim.<\/p>\n

Contributor Emme Hall<\/strong> spent some time behind the wheel of this refreshed all-electric compact SUV and found a lot to love. However, there is one notable shortfall<\/a>, at least for the time being. This EV is equipped with Tesla’s North American Charging Standard port, but Hall discovered that the charging port location didn’t match up with the Tesla Supercharger cord, which simply didn’t reach.<\/p>\n

This meant she would need to wait for another Tesla to vacate its space and use that charging cable, essentially taking up two spaces, or use the in-car navigation to find a CCS-equipped charging station and use the adapter that comes with the car.<\/p>\n

Not ideal, but here’s what was great \u2013 the 2025 model year comes in a new XRT trim that includes a one-inch lift and 29-inch Continental CrossContact ATR tires for better performance in the dirt and over gravel. This 2025 model year, which also received a few tech upgrades, is still poised on the pavement with well-balanced handling and a comfortable ride.<\/p>\n

What is “This week’s wheels”? It’s an opportunity to learn about the various transportation products we’re testing, whether it’s an electric or hybrid car, an e-bike, or even a ride in an autonomous vehicle.<\/em><\/p>\n<\/div>\n\n
Source Link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to TechCrunch Mobility, your primary source for news and insights into the future of transportation. You can sign up for our newsletter for free by clicking on TechCrunch Mobility!…<\/p>\n","protected":false},"author":0,"featured_media":6426,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[1855,263,177,102],"class_list":["post-6425","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-nikola","tag-techcrunch-mobility","tag-tesla","tag-waymo"],"jetpack_featured_media_url":"https:\/\/fusionmindlabs.com\/blogs\/wp-content\/uploads\/sites\/9\/2025\/02\/beta-tech.jpeg","_links":{"self":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/6425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/comments?post=6425"}],"version-history":[{"count":0,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/6425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media\/6426"}],"wp:attachment":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media?parent=6425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/categories?post=6425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/tags?post=6425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}