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Welcome back to The Station, your central hub for all past, present and future ways of moving people and packages from point A to point B.
In case you missed last week’s edition, here’s a handy summary of what we saw during Monterey Car Week, which wrapped up last Sunday. Tl; dr: EVs ruled.
Let’s jump in!
You can email me at anytime [email protected] to share thoughts, criticism, opinions or tips. You can also send a direct message to @kirstenkorosec.
micro bullies
First, let’s look at what cities are up to…
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Brussels closed its downtown area to cars and joins a small but growing list of cities to see the light of day (because there’s no autosmog to block the sun).
Denver proposes shifting $900 million away from freeway expansion projects and toward those that favor walking, cycling and public transit.
In startup news…
Gogoro has surpassed 500,000 monthly battery swap subscribers in Taiwan, a major milestone for the company, which says it has facilitated more than 325 million battery swaps, or 340,000 battery swaps per day.
level is the latest micromobility company to lay off employees. Personally, I didn’t expect Tier to join the layoff train, especially after watching the company gobble up other startups on its journey to scooter dominance. Unfortunately, due to the current economic and funding climate, Tier has laid off about 180 employees as it tries to cut costs on its path to profitability.
– Rebekah Bellan
offer of the week
snip about Porsche’s upcoming IPO’s have been known for months, but this last one really piqued my interest. Why? Well, Porsche could end up being one of the largest stock exchange listings in Europe.
The company has reportedly garnered enough investor interest, including T. Rowe Price Group Inc. and the Qatar Investment Authority, for its IPO with a valuation of up to $85 billion, Bloomberg reported. The company, which is currently part of the VW Group, secured pre-orders in excess of the shares on offer, valued at between 60 and 85 billion euros ($85 billion), according to unnamed sources cited by Bloomberg.
Stay tuned; the automaker is expected to announce its intention to go public in the first week of September following board approval.
Other offers that caught my attention this week… (subscribe to all offers)
Kodiak robotics landed another supporter. The self-driving truck startup this week announced a partnership with truck stop operator Pilot Co., a Berkshire Hathaway company. As part of the transaction, Pilot has acquired a stake in the company and a seat on the board. Although the size of the investment was not disclosed, Pilot is now Kodiak’s largest strategic investor, according to a report by Bloomberg.
The datea San Francisco-based battery management software company, raised $12 million in a Series A round led by Energy Impact Partners, which was joined by existing investors NextView Ventures, Collaborative Fund and Trucks VC.
Would you like to read more? The station’s weekly email newsletter also includes a roundup of AV, EV, and other news, as well as an “A Little Bird” section where I share verified insider news. This week, in Little Bird, I’m sharing a newcomer to the AV approval pool in California. Register! It’s free!
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