Tesla’s board of directors has reportedly initiated efforts to find a successor for CEO Elon Musk, amidst growing concerns about his influence on the company’s brand value and financial margins. Musk’s recent political activities on behalf of space industries in Washington have incited stinking anger. All of this is to say, Tesla brand is rapidly depreciating in perceived worth. In response, board member Gebbia has put his money where his mouth is, buying approximately 4,000 new shares of Tesla stock, worth over $1 million. This step further reaffirms his deep conviction of the company’s long-term potential.
This is likely why Ford decided to kill its plan to vertically integrate vehicle software. This will have huge implications on both their gas and electric lineups. This decision serves as a testament to the uphill battle legacy automakers are fighting when it comes to keeping up with an all electric future. As Ford pulls back, other companies are making strides, with Chinese autonomous vehicle startup Momenta collaborating with Uber on innovative mobility solutions.
Innovations and Developments in Autonomous Vehicles
Congrats to Joby Aviation on this incredible milestone! They recently made a successful transition of their electric vertical takeoff and landing (eVTOL) aircraft from horizontal to vertical flight — in fact, the first ever, and with a pilot on board! This milestone is a major step toward commercializing eVTOL technology. Beyond that, it sets Joby up as perhaps the most likely candidate to be the leader of the coming urban air mobility industry.
Aurora seems to be in a strong place to take advantage of this new market reality, even with things like tariffs affecting shipping logistics. The company’s laser-like focus on driverless technology makes perfect sense in the setting of growing demand for more efficient and safe transportation options. Additionally, May Mobility announced plans to deploy its autonomous vehicles on the Uber platform by the end of 2025, starting in Arlington, Texas. Together, this collaboration is expected to help improve ride-sharing options and prove the feasibility of autonomous, shared and on-demand transport.
With that growing competition in mind, Uber like several other companies is working to have Momenta robotaxis available on its platform in Europe by 2026. With this initiative, we see that Uber is certainly committed to incorporating cutting-edge technologies into its services. It shows the company’s ambition to grow in the autonomous vehicle space.
Financial Maneuvers and Strategic Partnerships
In a notable development in the defense technology sector, True Anomaly, a startup focused on aerospace solutions, raised $260 million in a Series C funding round led by VC firm Accel. The money will be used to fund the company’s development and production of technologies related to defense, highlighting the rising interest in this booming market.
On a different note, Rivian has built up a huge pipeline of batteries meant for its trucks, SUVs and commercial vans. Second, the demand for electric vehicles is increasing rapidly. Rivian’s manufacturing stock sets it up well to hit ambitious production targets and deliver quickly to consumers that want one.
Canoo’s bankruptcy proceedings remain contentious. A shadowy London-based investor just won a temporary court order to block the sale of Canoo’s assets to its CEO. With the company still reeling from its latest round of financial chaos, this move begs the question—what’s next for T-Mobile?
Competitive Challenges and Legal Disputes
The DoorDash, Uber legal war is getting serious DoorDash is voicing its opposition to Uber’s lawsuit, which alleges that DoorDash engages in predatory practices to eliminate competition, and asking a California judge to dismiss the case. This feud shines a light on the cutthroat competition between these delivery behemoths. They are fighting for market share in an increasingly competitive space with every passing day.
Slate Auto, an electric vehicle startup financed by Jeff Bezos, is searching for a home in nearby Warsaw, Indiana. They’re looking at possibilities for building a printing facility there. The startup plans to increase production capacity as it rolls out more electric trucks across its lineup. This decision helps protect local economic development.