News Summary

• The bill came about in part because online retailers like Amazon continue to sell unsafe batteries, despite the increase in battery fires over the years.I’m not sure if this sector will maintain its buzzy status forever, but for now investors seem happy to pour money into electric boat startups..
• But Spin’s reported revenue is only about a fifth of Bird’s, and based on Bird’s own operating expenses, debts, revenue and available cash — not to mention its turbulent history — I’d say the company has a tough road ahead to regain investor confidence.A quick word on battery fires..
• Arc has raised more than $100 million, to date.Flush with fresh capital, co-founders Mitch Lee and Ryan Cook are planning to scale up with a new higher-volume electric boat designed for wakeboarding, wakesurfing and other watersports such as tubing..
• Arc is one of those.The Los Angeles-based EV boat startup just raised $70 million in a Series B round from a bevy of returning investors, including Eclipse, Andreessen Horowitz, Lowercarbon Capital and Abstract Ventures..
• For now the factory will re-assemble Lucid Air vehicle kits that are pre-manufactured at the company’s U.S. factory in Casa Grande, Arizona.Volkswagen’s $2.1 billion plan to launch a dedicated electric-vehicle factory in Wolfsburg, Germany is kaput..
• The official reason was that the company failed to maintain a market cap of over $15 million for 30 consecutive days, but Bird has had a hard time keeping its stock price above $1, as well..