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Recently, Trump, for his second term, demonstrated clear disfavor towards EV incentives by ordering an immediate halt to fund disbursements from the Inflation Reduction Act and the Bipartisan Infrastructure Law. This could potentially impact EV charging infrastructure and funding for programs from which companies like Tesla have largely benefitted.
In other news, Canoo, an electric vehicle company, has filed for Chapter 7 bankruptcy and halted all operations. Interestingly, the company had also shut down its former headquarters in LA a few months prior to the bankruptcy filing.
Noteworthy Deals and Investments
At the brink of Trump’s inaugural ceremony, Rivian, an automaker, along with the Department of Energy, finalized a $6.6 billion loan, raised for the building of its factory in Georgia, which is due to start its construction in 2026. Other important deals include Ati Motors, a robotics startup, which raised $20 million in Series B funding, and Metafuels, a Swiss aviation fuel startup, which raised $9 million in fresh funding. An AI-enabled dashcam provider, Netradyne, managed to raise $90 million, making its valuation reach around $1.35 billion.
Other Pertinent News and Tidbits
Driver-assistance Systems
Due to defects, an investigation into Ford’s hands-free advanced driver-assistance system known as BlueCruise has been upgraded by The National Highway Traffic Safety Administration’s Office.
Autonomous Vehicles
Torc Robotics is gearing up to establish a hub for autonomous testing and customer freight pilots in Texas, aiming to commercialize their autonomous truck by 2027.
Electric Vehicles, Charging, and Batteries
UBCO, an electric motorcycle startup, has ceased operations due to insufficient funding.
In-Car Technology
The Federal Trade Commission has proposed to prevent GM from selling its data to consumer reporting agencies for the next five years.
In the arena of space and the future of flight, the Federal Aviation Administration had to momentarily reroute airplanes near Puerto Rico owing to falling debris caused by the explosion of SpaceX’s Starship during a test flight.
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