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Seven or eight years ago, anyone consuming business tech news might have come across the phrase “the race to build autonomous vehicles.” In private conversations, company execs and startup founders I spoke to sometimes referred to the commercialization of autonomous vehicle technology as “a race.” The phrase seeped into reporting at the time — including some of my articles.
What we’ve learned is that this is not a race so much as a long, curved, and fragmented road — one that looks more like the fan of an alluvial plain than a racetrack — to develop and prove the technology works and make it a profitable business. It’s not a race against others as much as an internal contest with existential stakes.
But that doesn’t mean there aren’t real battlegrounds among those working on the technology, especially with robotaxis. Many might point to the number of cities a company has launched in as one indicator. I believe that while helpful, it’s a bit too vague and easy to manipulate.
Two recent news items got me thinking about more narrow and specific battlegrounds within cities: airports and public transit.
Airports were critical to the success of ride-hailing companies. Robotaxis are no different. Today, Waymo offers rides to and from Phoenix’s Sky Harbor Airport. And it’s clearly looking to unlock more.
This week, Waymo was granted a permit to start testing its autonomous vehicles at San Francisco International Airport, ahead of the launch of a commercial service. This comes just two weeks after Waymo was cleared to start testing at nearby San Jose Mineta International Airport — and as Tesla is also trying to elbow its way into offering ride-hail service to these airports.
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Meanwhile, Waymo and transit software company Via struck a deal that could have far-reaching implications for cities. Government agencies that use Via’s software for public transit will be able to fold Waymo’s robotaxis directly into their public transit networks. The first city will be Phoenix suburb Chandler through its Chandler Flex fleet of on-demand, shared vehicle fleet.
This is meaningful, in terms of reach, although it may not be a cash cow for Waymo in the short term. As a Waymo spokesperson explained to me: When a traditional Chandler Flex vehicle isn’t available, riders may have the choice to book a trip with Waymo. Should a person choose to ride with Waymo, Chandler Flex will direct them to the Waymo app to hail a fully autonomous ride at a reduced price of $2 or less. At such a low price, it’s hard to see how this will push Waymo’s balance sheet into the black.
Still, it’s an important volume play. And Via CEO Daniel Ramot indicated in one interview that he hopes this spreads to hundreds of cities.
A little bird
I gave you three little birds last week, and this week … welp, none that I could verify. Don’t fret — there will be more in the future.
Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or my Signal at kkorosec.07, or Sean O’Kane at sean.okane@techcrunch.com.
Deals!
U.K. startup Wayve has garnered buzz for locking up deals — and capital — for its generalized end-to-end approach to automated driving technology. You might recall that a year ago, Wayve raised $1.05 billion in a Series C round with SoftBank Group, Microsoft, and Nvidia participating.
Wayve is now working on a Series D round, and it appears that Nvidia is ready to plunk down more capital. In a letter of intent, which the two companies recently signed, Nvidia said it will evaluate making a $500 million strategic investment in Wayve’s next round. I spoke to Wayve CEO Alex Kendall, and he wouldn’t say exactly when this round is expected to close. But he did say “we’re working quickly towards it.”
Other deals that got my attention …
Divergent Technologies was once solidly in the automotive sector. These days, the advanced manufacturing company has positioned itself as a defense company and has locked up deals with Lockheed Martin, RTX, and General Dynamics. Now it’s raised $290 million, including $40 million in debt, to expand production of missile parts and other specialized components for the military.
EV Realty, a startup focused on providing charging for semitrucks, raised $75 million in a round led by private equity investor NGP. The startup will use the funds to build additional charging hubs throughout California.
Moove, the African vehicle-financing startup backed by Uber, is trying to raise more than $300 million in a round with a post-valuation of more than $2 billion, Bloomberg reported, citing anonymous sources.
XL Batteries, a Marlborough, Massachusetts-based startup developing flow batteries for energy storage, raised $7.5 million from Merrin Investors.
Notable reads and other tidbits
Hyundai Motor Group is intent on growing, and North America is central to its plan. During its investor day, the Korean automaker said it wants to increase annual sales from 4.17 million in 2025 to 5.55 million by 2030. In the short term (meaning for this year), the company shared new targets for an increase in revenue of between 5% and 6% and an operating profit margin of between 6% and 7%.
To get there, Hyundai is investing capital, including putting $2.7 billion over three years into expanding the total production capacity of the Hyundai Motor Group Metaplant America in Georgia. The company said “electrified vehicles” (that includes 18 new hybrid models by 2030) are expected to account for 60% of total sales, reaching 3.3 million units, with significant growth anticipated in North America, Europe, and Korea.
Rivian officially broke ground on its long-planned factory near Atlanta.
Stellantis ended plans to produce the all-electric Ram 1500 REV pickup truck, citing low demand for full-size EV trucks; however, it’s holding on to the extended-range Ramcharger, which is now confusingly being renamed to Ram 1500 REV.
Tesla said it will redesign its door handles so they’re less likely to trap people inside their cars. The decision came a day after the National Highway Traffic Safety Administration opened an investigation into claims that Tesla’s door handles become inoperable in certain situations on Model Y SUVs. It also follows an investigation by Bloomberg that exposed the problem.
Meanwhile in Australia, Tesla recalled Powerwall 2 home batteries in the country after the company received reports of fires that led to “minor property damage.”
Uber will test using drones for Uber Eats deliveries in some U.S. markets by the end of this year, part of a new partnership with Israeli startup Flytrex.
Waymo is launching a commercial robotaxi service in Nashville in 2026, and it’s partnering with Lyft to expand its reach.
One more thing …
Speaking of Wayve, I thought it was worth reminding y’all that the startup’s co-founder and CEO, Alex Kendall, will be joining us onstage at TechCrunch Disrupt 2025. The event will be held October 27 to October 29 at Moscone West in San Francisco. Register here to join more than 10,000 startup and VC leaders at Disrupt.