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It seems like not a day goes by without Waymo announcing some sort of expansion. Detroit, Las Vegas, Nashville, San Diego and Washington, D.C., are some of the cities the company plans to bring its robotaxis to in the coming months. But as I’ve argued before in this newsletter, there’s another “expansion” that I think is more important.
And now after years of testing and development, the company’s commercial robotaxi service is using freeways around the San Francisco Bay Area, Phoenix and Los Angeles.
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This is a critical expansion for the company. It’s the connective tissue between concrete and asphalt in sprawling metro areas like the Bay Area. This new freeway access is accelerating Waymo’s expansion into that region, which now covers 260 square miles and encompasses Silicon Valley and San Francisco.
Robotaxi rides may have more efficient routes. Waymo tells me it will cut ride times by up to 50%.
And using the freeway is also essential for Waymo to offer rides from the San Francisco airport, a location the company is currently testing.
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That freeway-to-airport moment will unlock big for Waymo. But will it be enough to help push it into the black? Until someone out there slides me their balance sheet, I can’t say. It will definitely be a popular option for travelers. That doesn’t mean the economy will pencil out.
Read on for more news including of Einride SPAC bids, deals for Harbinger And Teradaras well as how through Mercury in his first earnings and a looming shutdown for Rad power bike. Plus! Scroll down for Tesla Poll results.
a little bird
It has been almost nine months since then Lucid Motors CEO Peter Rawlinson Resigned abruptly, leaving the company without a permanent replacement. That may change, though.
A few little birds told us Lucid Motors has zeroed in on a candidate for the top role. It’s expected to be someone from outside the organization, which is perhaps no surprise; In August, we shared here that the company and the executive hiring firm using it cast a very wide net and were even cold-calling some candidates. This would probably mean that Mark WinterhoffRawlinson, who is serving as interim CEO, will return to the COO role before his departure.
Got a tip for us? Email Kirsten Korose kirsten.korosec@techcrunch.com Or my signal at kkorosec.07, or email Sean O’Kane sean.okane@techcrunch.com.
Deal!
Another SPAC has entered the AV world! Mergers with specialty acquisition firms may not officially be “back,” but they’re certainly popular among autonomous vehicle companies.
EinrideThe Swedish electric and autonomous truck startup plans to go public through a merger with a special purpose acquisition firm, just six weeks after raising $100 million from investors. The SPAC merger with Legato Merger Corporation values Einride at $1.8 billion in pre-money equity.
Einride generates revenue, which may sound obvious but there are plenty of pre-revenue transportation companies that have SPAC’d in recent years.
For now, its primary source of revenue is coming from its software-as-a-service product and a fleet of 200 heavy-duty electric trucks used by companies such as Heineken and PepsiCo. Its unusual-looking autonomous podlike trucks are still in pilot mode.
The merger is expected to close in the first half of 2026, with Einride debuting on the New York Stock Exchange.
Other deals that caught my attention this week…
ForterraA company developing autonomous technology for defense, raised $238 million In equity and debt funds. Moore Strategic Ventures led the equity portion of the fund, while Crescent Cove provided debt financing.
goofFast Delivery Startup, raised $250 million In a round led by Eldridge Industries and Valor Equity Partners. Bailey Gifford, co-founder of Robinhood, Equalis Capital, George Ruan, Yakir Gabe and Gopuff. The fund has set its value at $8.5 billion, According to BloombergA significant markdown from the last increase in 2021.
HarbingerThe Los Angeles-based electric truck startup has raised $160 million in a Series C funding round co-led by FedEx. As part of the investment, FedEx ordered 53 of Harbinger’s electric truck chassis.
Octopus electric vehicleA UK-based electric car-leasing business has struck a deal with lenders including Lloyds Banking Group, Morgan Stanley and Crédit Agricole, taking its total funding line to £2 billion ($2.6 billion). Sky News reported.
TeradarA Boston-based startup developing a solid-state sensor has raised $150 million in a Series B funding round from investors Capricorn Investment Group, the venture arm of Lockheed Martin, mobility-focused firm Ibex Investors, and VXI Capital, a new defense-focused fund led by US Unitio, a former military fund.
UpwayAn e-bike refurbishing startup, raised $60 million in a Series C funding round led by AP Moller. Galvanize, Ora Global and Sequoia Capital also participated. The company has raised more than $125 million since its founding in 2021.
wowA German startup that rents cars remotely to customers has announced a $60 million investment from a Singaporean tech heavyweight. Possession. The deal, which is subject to regulatory approval and is expected to close by the end of the year, could be followed by “an additional $350M as joint milestones are achieved within the first year.”
Notable reading and other tidbits
Ford Expanding its availability BlueCruise hands-free highway driving technology In Europe, the automaker will make the system available in several vehicles, including the Puma, Puma Gen-E, Kuga and Ranger PHEV 5 models, starting in spring 2026.
Job Aviation Conducted its first flight Turbine electric, autonomous VTOL aircraft. This demonstrator should not be confused with his all-electric air taxi, although it was built off that platform. This aircraft has a hybrid turbine powertrain and is designed for defense applications.
elevator there is Partnered with CurbA ride-hailing platform for licensed taxis. Under the agreement, Lyft riders will be connected to Curb’s driver network through an integration with the Curb Flow platform, which is already in place in Los Angeles. Other cities will soon follow.
Rad power bikeOne of the more popular e-bike companies, can’t be long for this world. According to an internal staff email seen by TechCrunch, the company told its employees that it would shut down in January unless it found new funding or acquired one.
Tesla Apple may bring CarPlay to its EVs. But at this point, should it? Meanwhile, the company’s energy storage division is working on an expanded recall of its consumer-oriented PowerWall 2 products after reports of fires.
D Boring companyAn Elon Musk company is under investigation again. This time due to reports that firefighters performing a safety drill at The Boring Company construction site in Las Vegas received burns from chemicals used in the tunnel-digging process. And the controversy doesn’t stop there.
the toyota Newly started production $13.9 billion battery plant in North Carolina. Although Toyota has several facilities in the United States, this is the first battery plant built outside of Japan. And it hasn’t invested in the U.S. The company said it plans to invest $10 billion more than previously expected over the next five years.
Uber has begun piloting silent in-app video recording for its drivers in India. The ride-hailing company is also looking for more premium customers with new efforts Uber skiwhich allows riders to pre-schedule rides to nearly 40 popular ski destinations in North America and Europe, including Vail in Colorado and Park City in Utah.
through he had First earnings As it became a publicly traded company, it lost money. The tech transit software company reported a loss of $36.9 million in its third quarter, a 73% increase from the same period last year. Its revenue grew to $713 million, an 11% increase.
One more thing…
Remember the poll in last week’s newsletter? I asked which product target Tesla Most likely to achieve by 2035? The options are based on realistic goals set out in Musk’s $1 trillion compensation package:
- 20 million Tesla cars delivered
- 10 million active full self-driving subscriptions
- 1 million robots delivered
- 1 million Robotaxis in commercial operation
- None of these will arrive
And you’re all split between two options: Tesla delivering 20 million vehicles, which received 34.7% of the vote, and “none of them will arrive,” which received 32% of the vote.
One item you seem to agree on is that Tesla is unlikely to deliver on the other three goals. About 9.5% of readers chose the 1 million robot option, 12.6% chose 10 million active fully self-driving subscriptions, and 10.5% chose 1 million robotoxies in commercial operation within 10 years.
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