Ford lifts the hood on its EV business, Turo updates its IPO filing and Waymo releases a safety case for AVs

News Summary

  • Other investors include Temasek, Korea Zinc, Aramco Ventures, AP Ventures, MOL PLUS, Yanmar Ventures, Zeon Ventures and DCVC.Bird’s shares jumped 17% this week after the company announced it had received additional funding, bringing the total raised to $33 million this year.
  • A new regulatory filing suggests the peer-to-peer car rental company might finally make the leap.The company filed an update to its IPO paperwork this past week, detailing its full 2022 financial performance.
  • Ford lost about $3 billion on its Model e business over the past two years and isn’t expected to be profitable (on an adjusted basis that removes costs like taxes) until late 2026 with an 8% operating profit margin.
  • BMW i Ventures co-led an investment in the $16.1M Series A round for startup DeepDrive, a startup that developed an efficient dual-rotor motor that extends the range of electric vehicles.
  • In fact, after posting GAAP net losses in the $90 million range in both 2019 and 2020, Turo cut the figure to a $40.4 million net loss in 2021.
  • BMW has expanded its use of Nvidia Omniverse, the company’s metaverse platform that allows automakers to build and test virtually, and is now operating its first fully digital factory.
The Station is a weekly newsletter dedicated to all things transportation.Sign up here just click The Station to receive the full edition of the newsletter every weekend in your inbox. Subscribe f [+16224 chars]