Cruise Slashes 25% of its Self-Driving Staff, Another E-Scooter Startup Folds, Plus a Year-End Message

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The Station is taking a little hiatus until 2024. This year has been jam-packed with new startups, EV advancements, and significant milestones in the autonomous vehicle industry. We’ve seen some triumphs and some downfalls, but we’re looking forward to what the future holds.

This past week, Cruise made headlines by dismissing nine top leaders and laying off 900 workers. The company is undergoing massive restructuring in an effort to salvage years of progress. We’ll be following the Cruise story well into 2024, along with other exciting developments in the future of transportation, such as new EVs, battery technology, and autonomous vehicles.

In the micromobility sector, Superpedestrian has decided to shut down its U.S. operations and explore the sale of its European business after just 18 months of raising $125 million. Lime has implemented rider assistance technology to its scooters, and Tier Mobility recently issued layoffs. The shared micromobility industry is proving to be a challenge to maneuver successfully.

In the world of deals, several startups raised a significant amount of funding. Dimensional Energy raised $20 million, DST completed an $80 million financing round, Exponent Energy secured a $26.4 million Series B, Lyko received 1.4 million euros, Metafuels raised $8 million, and Vammo raised $30 million in a Series A round.

There have been some recent developments in the autonomous vehicle sector, such as Tesla’s limitation of its Autopilot driver-assistance software following a two-million-vehicle recall. Waymo announced a crucial expansion, and WeRide started testing autonomous buses in Singapore.

In the realm of electric vehicles, battery technology, and charging, Chevrolet introduced the 2024 Chevy Blazer EV. Ford is reducing its production target for the F-150 Lightning due to weak demand, and Sila signed a milestone deal to supply Panasonic with its Titan Silicon anode material.

The Station newsletter is dedicated to keeping you updated on all the latest transportation news, trends, and developments. Subscribe today to stay informed on the future of moving people and packages from Point A to Point B. We’ll be back in the New Year, and we look forward to keeping you informed!

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