Monday News

Plenty to talk about today, but nothing more pressing than the UK working to embrace self-driving tech. We aren’t saying we are glad to see more autonomous vehicles, but we do hope they don’t get lost or crash getting there.

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Toyota: Still Not Down with EVs

Toyota is sticking with hybrids, mostly skipping over EVs, and getting into hydrogen. CEO Ted Ogawa says customer demand is with hybrids, so Toyota will be too.

• The Japan-based world auto leader says it is targeting just 30% of its U.S. market presence to be all-electric by 2030, while other brands have (soft) drop-dead dates around the same timeline.

To get its hydrogen dreams off the ground, Toyota is offering significant discounts on the Mirai. Despite infrastructure challenges, the company is investing in clean fuel sources, including massive discounts some write-ups call "practically giving them away," or even "paying people to buy them."

Start-Up Write-Ups

• Canoo (GOEV): Advances with the American Bulldog electric pickup, embodying rugged American spirit. Secured significant deals, including USPS's purchase of delivery vans, highlighting growth in the commercial EV sector.
• Fisker (FSR.N): Shares plummet amid financial struggles and reduced production forecasts. Fisker faces a critical year, pivoting towards partnerships to sustain future projects and operations.
• IM Motors: Raised $1.1B for smart-car development and overseas expansion. Co-founded by giants like SAIC and Alibaba, the funding underscores strong support for its innovative EV projects.

Tesla Opens the Gate

Ford is rolling out its charging adapters, and Tesla says Rivian, GM, Polestar, and Volvo are next. This Spring, the EV giant will roll out access to its 15K superchargers to the auto brands through NACS-to-CCS adapters and automaker software updates.

Overall, the plan accelerates Tesla's commitment to transitioning more of the world to renewable energy and brings Tesla into even more EV conversations than it already is.

UK Embraces Automated Vehicles

The UK's Automated Vehicles Bill aims to create a comprehensive legal framework for AVs, positioning the UK as a forefront leader in self-driving technology.

In addition to the bill and the UK government's investments, Partners for Automated Vehicle Education United Kingdom (PAVE UK) was launched at The University of Warwick. While the nation looks to become an authority in AV and AI, they are hoping not to outpace the comprehensive legal and regulatory frameworks needed to roll the tech out well.

Shout out to Ross Douglas for this article on the moves.  

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Toyota is working to prove you can’t always control the market. But, with enough work, you can just make your own. You know, Apple style.