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Welcome back to The Station, your central hub for all past, present and future transportation of people and packages from Point A to Point B.
Happy Labor Day weekend to all my US and Canadian readers! If you’re using your three-day weekend for a walk, travel safely.
For those in California, you may be asked to limit your energy use this weekend. Especially, if you own an EV. California’s Grid Manager Is Calling on Electric Vehicle Owners Avoid charging at peak times (4 p.m. to 9 p.m.) as part of a broader effort to keep the state grid running during this heatwave.
“Warning” got me thinking about California’s recent decision to ban new gasoline cars by 2035 and what a flood of EVs can do to an already aging grid.
Speaking of EVs, perhaps you’re looking to buy one? I wrote up a guide to the new EV tax credit that you may find useful. Today it is more complicated. This guide covers new electric vehicles; Look for another article on used electric vehicles and tax credits.
And finally, if you want to check TechCrunch Disrupt (and I suggest you do), here’s a little gift for my readers. To go to this link and enter code STATION to get 15% off tickets, excluding online tickets and fair tickets.
Let’s go.
You can always email me at kirsten.korosec@techcrunch.com to share thoughts, criticisms, opinions or tips. You can also send a direct message to @kirstenkorosec
Micromobbin’
Rebecca Bellan are on a well-earned holiday and so this week’s micromobbin’ will be brief.
The first is a TC+ article by Bellan that explores why largest market for micromobility will ultimately be in the commercial space, not focusing on the consumer.
In other scootin ‘and bikini’ news…
Green lemon, Turn and Veo is in Milwaukee as part of Scooter pilots share released this week.
Atlantic “E-bike is a generosity” The column has sparked outrage and criticism on social media and even inspired some people to write counter-arguments like these in Outside magazine called “E-bike is Pure Joy”.
Vermont become the first state offer an ebike discount.
Byeeeeee.
Trading of the week
Implementation of the deal this summer has slowed to a trickle. The difference from last summer – when the deal was like a fire hydrant – is striking.
While the pace of deals has slowed, the desire for capital has not. It’s especially noticeable in the world of mobile EVs and SPACs, where companies that used to eat up capital in a high-flying market are trying to reactivate that shift.
Lucid and Nikola among several EV SPAC looking for cash transmission through a stock offering to bring their delayed cars to market.
CEO of self-driving technology company dawn presented several options to the board to extend the company’s runway through mid-2024. And last month, Faraday’s Future (which I’m shocked is even still here) say it will ask for more money in early September 2022 to resume operations. For those watching, it’s now.
Result? I look forward to more of this activity later this year. It will become desperate for some.
Other deals caught my attention this week… (Sign up for all deals)
The Ascend Factora United States-based lithium-ion battery manufacturing and recycling materials company, received a $50 million investment from SK ecoplantSK Inc.’s environmental unit. Korea.
Populuslaunch transportation data, raised 11 million dollars in a Series A round to scale up existing product as well as curbside management software. The round was co-led by Zero Infinity Partners and Climactic with participation from Comcast Ventures and FootPrint Coalition Ventures by Robert Downey Jr.
SparkChargemobile phone charging network provider EV, has raised an additional $7 million from Cleveland Avenue, an add-on for previously announced Series A round. The total amount raised is currently $30 million.
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