Mobility SPACs search money and your information to the brand new EV tax credit score – TechCrunch

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2022-09-05 11:30:34

The Station is a weekly e-newsletter devoted to all issues transportation. Enroll right here — simply click on The Station — to obtain the total version of the e-newsletter each weekend in your inbox. This can be a shorter model of The Station e-newsletter that’s emailed to subscribers. Need all of the offers, information roundups and commentary? Subscribe for free

Welcome again to The Station, your central hub for all previous, current and future technique of shifting folks and packages from Level A to Level B. 

Blissful Labor Day weekend to all my US and Canada-based readers! When you’re utilizing the three-day weekend to take a street journey, journey protected.

For these in California, you might be requested to curb your vitality use this vacation weekend. Notably, when you personal an EV. California’s energy grid supervisor is asking on EV homeowners to keep away from charging at peak instances (4 p.m. to 9 p.m.) as a part of broader effort to maintain the state’s grid up and working throughout this warmth wave.

The “alert” bought me fascinated with California’s current determination to ban new fuel vehicles by 2035 and what a flood of EVs may do to an already decrepit energy grid.


Talking of EVs, possibly you’re trying to purchase one? I wrote up a information to the brand new EV tax credit score that you could be discover useful. It’s extra difficult today. This information tackles new EVs; look out for one more article on used EVs and the tax credit score.

And at last, if you wish to take a look at TechCrunch Disrupt (and I recommend you do), here’s a little present for my readers. Go to this hyperlink and kind within the code STATION to get 15% off passes, excluding on-line and expo tickets.

Let’s go.

You’ll be able to all the time e-mail me at kirsten.korosec@techcrunch.com to share ideas, criticisms, opinions, or ideas. You can also ship a direct message to @kirstenkorosec

Micromobbin’

Rebecca Bellan is on a well-earned trip and so this week’s micromobbin’ shall be temporary.

First up is a TC+ article by Bellan that explores why the greatest marketplace for micromobility will find yourself being within the industrial area, not targeted on customers.

In different scootin’ and bikin’ information …

Lime, Spin and Veo are in Milwaukee as a part of a brand new shared scooter pilot that launched this week.

The Atlantic’s “The E-bike is a Monstrosity” column sparked outrage and criticism on social media and even impressed some to put in writing counterarguments like this one in Exterior entitled “The E-bike is Pure Pleasure.”

Vermont turned the primary state to supply an ebike rebate.

Byeeeeee.

Deal of the week

money the station

The deal-making this summer season has slowed to a drip. The distinction from final summer season — when the deal stream was extra like a hearth hose — is hanging.

Whereas the tempo of offers has slowed, the will for capital has not. It’s significantly palpable within the EV and mobility SPAC world the place firms as soon as awash with capital in a high-flying market try to get that spigot turned again on.

Lucid and Nikola are amongst a number of EV SPACs which are in search of money infusions by way of inventory choices to convey their delayed automobiles to market.

The CEO of self-driving tech agency Aurora has floated a variety of choices to the board to increase the corporate’s runway past mid-2024. And final month, Faraday Future (which I’m shocked is even nonetheless right here) stated it would require extra funds by early September 2022 as a way to proceed operations. For these retaining observe, that’s now.

The upshot? I anticipate extra of this exercise by way of the top of the 12 months. It’s going to get determined for some.

Different offers that bought my consideration this week … (subscribe for all of the offers

Ascend Parts, a U.S.-based lithium-ion battery recycling and engineered supplies firm, acquired a $50 million funding from SK ecoplant, the environmental unit of Korean conglomerate SK Inc.

Populus, the transportation information startup, raised $11 million in a Sequence A spherical to scale its present product in addition to its curb administration software program. The spherical was co-led by Zero Infinity Companions and Climactic with participation from Comcast Ventures and Robert Downey Jr.’s FootPrint Coalition Ventures.

SparkCharge, the cell EV charging community supplier, raised an extra $7 million from Cleveland Avenue that’s an add-on to its beforehand introduced Sequence A spherical. The entire increase is now $30 million.

Wish to learn extra? The Station’s weekly emailed e-newsletter additionally features a roundup of AV, EV and different information and a “A Little Hen,” a bit through which I share verified insider information. Enroll! It’s free!





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