China EVs rising, Tesla loses profit ground and Lyft preps for deep cuts

News Summary

  • The deal would give the consortium a 5% stake in SK On.Whisper, which developed a quiet and efficient electric propulsion device for eVTOLs and delivery drones, raised $32 million in a Series A round led jointly by Menlo Ventures, EVE Atlas, Capricorn’s Technology Impact Fund and Connor Capital.
  • I’d be curious to see what, if anything, could possibly warrant such a price tag.Electric Bike Company launched the Model J, a small, nimble, moto-inspired e-bike with a reasonable limited time price tag of $1,199.
  • Mensch Capital Partners also participated.Miovision Technologies, a Canadian traffic management technology company, acquired Global Traffic Technologies LLC from Vontier Corp. for $107 million.
  • The expansion included $10 million in new equity financing and $5 million in venture debt.
  • The EV company clarified that current model year 2023 R1T and R1S vehicles qualify for $3,750 in federal tax incentives, as the batteries are compliant with the critical mineral sourcing requirements passed in the Inflation Reduction Act.Tesla kicked off Q1 earnings season on a bit of a down note.
  • But as the Financial Times noted in its coverage of the auto show, China is also set to push Japan out of the top spot for global car export volume this year after overtaking Germany in 2022.This development creates a two-fold challenge for foreign automakers.
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