Volkswagen revealed Tuesday evening a new concept vehicle called the ID Space Vizzion, and despite the crazy Frank Zappaesque name, this one might actually make it into production in Europe and North America.
The ID Space Vizzion is the seventh concept that VW has introduced since 2016 that uses its MEB platform, a flexible modular system — really a matrix of common parts — for producing electric vehicles that VW says make it more efficient and cost-effective.
The first vehicles to use this MEB platform will be under the ID brand, although this platform can and will be used for electric vehicles under other VW Group brands such as Skoda and Seat. The ID.3 is the first model in its new all-electric ID brand and the beginning of the automaker’s ambitious plan to sell 1 million EVs annually by 2025. A production version of the ID. 3 was unveiled in September.
The ID Space Vizzion is equipped with a rear-mounted 275-horsepower motor and a 82 kilowatt-hour battery pack with a range of up to 300 miles under the EU’s WLTP cycle. A second motor can be added to give it all-wheel drive capability and a total output of 355 horsepower.
This concept will likely be described in a number of ways — and during the event at the Petersen Museum in Los Angeles it was — but this is a wagon through and through.
What the ID. Space Vizzion will ultimately look like is unclear although much of the shape and overall stance shown Tuesday evening. But Scott Keogh, CEO of Volkswagen of America, did say in his closing remarks that something like the concept shown tonight will come to the U.S.
Tesla CEO Elon Musk promised a more powerful powertrain option in future Model S, Model X and the next-generation Roadster sports car that will push acceleration and speed beyond the current high bar known as Ludicrous mode.
Musk tweeted Wednesday evening “the only thing beyond Ludicrous is Plaid,” a teaser to a higher performing vehicle and a nod to the movie Spaceballs.
These new higher performing versions of the Model S, Model X, and Roadster will contain what Musk describes as a Plaid powertrain and is still about a year away from production. This new powertrain will have three motors, one more than the dual motor system found in today’s Model S and X.
Yes. To be clear, Plaid powertrain is about a year away from production & applies to S,X & Roadster, but not 3 or Y. Will cost more than our current offerings, but less than competitors.
This Plaid powertrain has already seen some action. Tesla revealed Wednesday that a Model S equipped with a Plaid powertrain and chassis prototype had lapped Laguna Seca racetrack in 1:36:555, a second faster than the record for a four-door sedan.
*~ Some personal news ~*
We lapped Laguna Seca @WeatherTechRcwy in 1:36.555 during advanced R&D testing of our Model S Plaid powertrain and chassis prototype
The “Plaid” powertrain will not be offered in the lower cost Model 3 or Model Y, which isn’t expected to go into production until late 2020. Musk also promised that this plaid powertrain will cost more than “current offerings, but will be less than competitors” without explaining what that means.
Close followers of the automaker might recall hints of a three motor powertrain in the past.
When Tesla unveiled a new Roadster prototype in November 2017, Musk said it would have three motors and be able to travel a whopping 0 to 60 miles per hour in 1.9 seconds and a top speed of 250 mph or even more. The Roadster isn’t expected to go into production until 2020.
What is new are Tesla’s plans to make this more powerful three-motor powertrain available in the Model S and Model X. And it stands to be an important option, if it does in fact materialize. The Model S has been around since 2012 and since the introduction the cheaper Model 3, sales have dipped.
And yet, Musk has said the X and S won’t be getting a major refresh. If Tesla hopes to maintain demand for either of its higher margin luxury vehicles, new trims like this plaid powertrain will be essential.
Tesla first announced Ludicrous mode in its Model S vehicles way back in July 2015. As shareholders and customers awaited the Model X to arrive, Musk unveiled several options for the company’s Model S sedan, including a lower priced version, longer battery range and “Ludicrous mode” for even faster acceleration.
Ludicrous mode, which improved acceleration by 10% to let drivers go from 0 to 60 mph in 2.8 seconds, came about as a result of an improved battery fuse. This new fuse, Musk explained in a blog post at the time, has its own electronics and a tiny lithium-ion battery that monitors current and protects against excessive current.
Tesla also upgraded the main pack contactor with a high-temperature space-grade superalloy instead of steel. This enabled the battery pack to remain “springy” under the heat of heavy current. In the end, the max pack output increased from 1300 to 1500 Amps.
Ludicrous was a $10,000 add on for new buyers. Tesla did reduce the price for existing Model S P85 owners for the first six months following the announcement and sold them the pack electronics upgrade needed for Ludicrous Mode for $5,000.
Musk joked in this 2015 blog post that there is “one speed faster than ludicrous, but that is reserved for the next generation Roadster in 4 years: maximum plaid.”
Just two years ago, investors were heavily pouring money into China’s dockless bike-sharing startups. Now that boom has busted with derelict bikes littering the streets of cities.
Meanwhile, a new race has started for two-wheelers with motors — and one of the main players is a survivor from the bike-sharing craze. Blessed with fundings from the world’s most valuable fintech company Ant Financial through its Series D to F funding rounds, Hellobike provides a range of mobility services such as shared e-bikes and rented electric scooters to its 230 million registered users.
Hellobike first launched in 2016 by deploying shared bikes in smaller cities and towns — where Ofo and Mobike were largely absent early on — rather than large urban centers like Beijing and Shanghai. This allowed Hellobike to largely avoid the cash splurging competition against Ofo and Mobike.
“When the two major powers were at war, neither of them went after electric bikes. They were fighting over bicycles,” Hellobike’s chief financial officer Fischer Chen (pictured above) recently told TechCrunch at Rise conference in Hong Kong, referring to the feud between Mobike and Ofo. “As such, there was no price war for e-bikes from the outset. The competition is rational.”
Electric two-wheeled vehicles are in high demand in the country where nearly 1.4 billion people live. According to data collected by Hellobike, nearly 300 million rides are completed on analog bikes every day in China. What many don’t realize is that pedal-assist electric bikes and pedal-free scooters together more than double that number, generating 700 million rides per day.
As with bicycles, there are benefits to rent rather than buy an electric bike in China. For one, users don’t need to worry about getting their assets stolen. Second — and, this is specific to electric vehicles — finding a safe, convenient charging spot can be a challenge in China.
That’s why Hellobike put up charging stations as it went about offering shared ebikes in 2017. At these kiosks, riders swap their battery out for a new one without having to plug in and wait. They then have the option to pay with Alipay, Ant’s mobile wallet with a one-billion user base.
Of all the monthly two-wheeler electric bikes activity in China, Hellobike has captured 80% of the market share, Chen claims. For bike-sharing, it accounts for 60-70%. It’s hard to verify the share by looking at data compiled by third-party app trackers, for they don’t usually break out the user number for individual features. The Hellobike app is a one-stop-shop for bicycles, e-bikes, e-scooters as well as carpooling, a service complementary to its main two-wheeler business intended to “capture price-sensitive small-town consumers” according to Chen.
Similarly, Mobike has been folded into Meituan’s all-in-one service app. What further complicates the inquiry is some of Hellobike’s rides are accessed directly on Alipay rather than its own app.
When it comes to competition in electric two-wheelers, Chen maintained that other challengers are “relatively small” and that acquiring online users has become “very difficult.” For Hellobike, getting existing customers to try out new features takes as much effort as “adding a new tab to its app,” Chen suggested.
What’s for certain is that Hellobike has big ambitions for electric micromobility. While shared bikes and e-bikes are meant for one-off uses, Hellobike plans to rent out e-scooters for longer swathes of time as many people might want the powered-up vehicles for their daily commute.
Hellobike’s electric scooter. Caption: “App-enabled lock. Smart anti-theft. Real-time location tracking for checking the vehicle’s status.” / Photo: Hellobike homepage
Hellobike founded a new joint venture last month to fulfill that demand. Joining forces with Ant — which is controlled by Alibaba founder Jack Ma — and China’s top battery manufacturer CATL, Hellobike is launching a rental marketplace for its 25 km/h e-scooters targeted at millions of migrant workers in Chinese cities.
“People might be able to afford an e-scooter that costs several thousand yuan [$1 = 6.88yuan], but they might be leaving the city after a year, so why would they buy it? So we come in as a third-party partner with a new rental model through which people pay about 200 yuan a month to use the scooter,” explained Chen. “By doing so, we convert people from buying vehicles to paying for services, renting the vehicles.”
The three shareholders will also work to install more battery-swapping stations nationwide that not only recharge Hellobike’s shared e-bikes but also its e-scooters, that will be made by manufacturing partners.
“We function as a platform and won’t compete with traditional scooter manufacturers,” suggested Chen. “They still get to use their own designs and SKUs [stock keeping units], but we will put smart hardware into their models… so users know where their vehicles are… and they can unlock the scooters with a QR code just like they do with a shared bike or e-bike.”
Hellboke has raised at least $1.8 billion to date, according to public data compiled by Crunchbase. Bloomberg reported in April that it was seeking to raise at least $500 million in a new funding round. The company declined to comment on its fundraising progress.
When it comes to financial metrics, Chen, a veteran investment banker, declined to disclose whether Hellobike overall is profitable but said the company “performs much better than its competitors” financially. The most profitable segment, according to the executive, is the electric bike business.
As for bicycles, Chen noted that China’s main bike-sharing companies are “no longer burning money” since they’ve raised prices in recent times. Hellobike’s bike unit has achieved cash-flow positive during the warmer, peak seasons, Chen added.
Cloud kitchens are the big thing in food delivery, with ex-Uber CEO Travis Kalanick’s new business one contender in that space, with Asia, and particularly Southeast Asia, a major focus. Despite the newcomers, a more established startup from Singapore has raised a large bowl of cash to go after regional expansion.
Founded in 2014, Grain specializes in clean food while it takes a different approach to Kalanick’s CloudKitchens or food delivery services like Deliveroo, FoodPanda or GrabFood.
It adopted a cloud kitchen model — utilizing unwanted real estate as kitchens, with delivery services for output — but used it for its own operations. So while CloudKitchens and others rent their space to F&B companies as a cheaper way to make food for their on-demand delivery customers, Grain works with its own chefs, menu and delivery team. A so-called ‘full stack’ model if you can stand the cliched tech phrase.
Finally, Grain is also profitable. The new round has it shooting for growth — more on that below — but the startup was profitable last year, CEO and co-founder Yi Sung Yong told TechCrunch.
Now it is reaping the rewards of a model that keeps it in control of its product, unlike others that are complicated by a chain that includes the restaurant and a delivery person.
We previously wrote about Grain when it raised a $1.7 million Series A back in 2016 and today it announced a $10 million Series B which is led by Thailand’s Singha Ventures, the VC arm of the beer brand. A bevy of other investors took part, including Genesis Alternative Ventures, Sass Corp, K2 Global — run by serial investor Ozi Amanat who has backed Impossible Foods, Spotify and Uber among others — FoodXervices and Majuven. Existing investors Openspace Ventures, Raging Bull — from Thai Express founder Ivan Lee — and Cento Ventures participated.
The round includes venture debt, as well as equity, and it is worth noting that the family office of the owners of The Coffee Bean & Tea Leaf — Sassoon Investment Corporation — was involved.
Grain covers individual food as well as buffets in Singapore
Three years is a long gap between the two deals — Openspace and Cento have even rebranded during the intervening period — and the ride has been an eventful one. During those years, Sung said the business had come close to running out of capital before it doubled down on the fundamentals before the precarious runway capital ran out.
In fact, he said, the company — which now has over 100 staff — was fully prepared to self-sustain.
“We didn’t think of raising a Series B,” he explained in an interview. “Instead, we focused on the business and getting profitable… we thought that we can’t depend entirely on investors.”
And, ladies and gentleman, the irony of that is that VCs very much like a business that can self-sustain — it shows a model is proven — and investing in a startup that doesn’t need capital can be attractive.
Ultimately, though, profitability is seen as sexy today — particularly in the meal space where countless U.S. startups has shuttered including Munchery and Sprig — but the focus meant that Grain had to shelve its expansion plans. It then went through soul-searching times in 2017 when a spoilt curry saw 20 customers get food poisoning.
Sung declined to comment directly on that incident, but he said that company today has developed the “infrastructure” to scale its business across the board, and that very much includes quality control.
Grain co-founder and CEO Yi Sung Yong [Image via LinkedIn]
Grain currently delivers “thousands” of meals per day in Singapore, its sole market, with eight-figures in sales per year, he said. Last year, growth was 200 percent, Sung continued, and now is the time to look overseas. With Singha, the Grain CEO said the company has “everything we need to launch in Bangkok.”
“If things move faster, we’ll expand to more cities, maybe one per year,” he said. “But we need to get our brand, our food and our service right first.”
One part of that may be securing better deals for raw ingredients and food from suppliers. Grain is expanding its ‘hub’ kitchens — outposts placed strategically around town to serve customers faster — and growing its fleet of trucks, which are retrofitted with warmers and chillers for deliveries to customers.
Grain’s journey is proof that startups in the region will go through trials and tribulations, but being able to bolt down the fundamentals and reduce burn rate is crucial in the event that things go awry. Just look to grocery startup Honestbee, also based in Singapore, for evidence of what happens when costs are allowed to pile up.
The writing has been on the wall for some time, though. TechCrunch reported last August that Uber was on a hiring spree in Singapore, and now that has come to fruition with the opening with a new 2,000 sq meter office near the Central Business District in Singapore. That’ll function as the management center for the nine markets that Uber operates in across Asia Pacific, which include Japan, Korea and Australia. India, Uber’s second largest market, is managed separately to the rest of the continent.
Straits Times reports that Uber’s Singapore headcount is at least 165 with some 17 vacancies open right now. As we reported last year, the company was aiming to hire at least 75 roles to take its Singapore-based team to over “well over” 100 — it seems that it did that and then some.
In its latest move beyond ride-hailing, Southeast Asia’s Grab has started to offer financing to SMEs and micro-insurance to its drivers.
The launch comes just weeks after Grab raised $1.5 billion from the Vision Fund as part of a larger $5 billion Series H funding round that’ll be used to battle rival Go-Jek, which is vying with Grab to become the top on-demand app for Southeast Asia’s 600 million-plus consumers.
Grab acquired Uber’s Southeast Asia business in 2018 and it has spent the past year or so pushing a ‘super app’ strategy. That’s essentially an effort to become a daily app for Southeast Asia and, beyond rides, it entails food delivery, payments and other services on demand. Financial services are also a significant chunk of that focus, and now Grab is switching on loans and micro-insurance for the first time.
Initially, the first market is Singapore, but the plan is to expand to Southeast Asia’s five other major markets, Reuben Lai, who is senior managing director and co-head of Grab Financial, told TechCrunch on the sidelines of the Money20/20 conference in Singapore. Lai declined to provide a timeframe for the expansion.
Grab is also planning to develop a ‘marketplace’ of financial products that will allow other financial organizations to promote services to its 130 million registered users. Grab doesn’t provide figures for its active user base.
Ridehailing firm Lyft will make its Nasdaq debut as early as next week at a valuation of up to $23 billion, The Wall Street Journal reports. The business will reportedly price its shares at between $62 and $68 apiece, raising roughly $2 billion in the process.
Lyft filed paperwork for an initial public offering in December, mere hours before its competitor Uber did the same. The car-sharing behemoths have been in a race to the public markets, igniting a pricing war ahead of their respected IPOs in a big to impress investors.
Uber’s IPO may top $120 billion, though others have more modestly pegged its initial market cap at around $90 billion. Uber has not made its S-1 paperwork public but is expected to launch its IPO in April.
Lyft has not officially priced its shares. Its S-1 filing indicated a $100 million IPO fundraise, which is typically a placeholder amount for companies preparing for a float. Lyft’s IPO roadshow, or the final stage ahead of an IPO, begins Monday.
San Francisco-based Lyft has raised a total of $5.1 billion in venture capital funding from key stakeholders including the Japanese e-commerce giant Rakuten, which boasts a 13 percent pre-IPO stake, plus General Motors (7.76 percent), Fidelity (7.1 percent), Andreessen Horowitz (6.25 percent) and Alphabet (5.3 percent). Early investors, like seed-stage venture capital firm Floodgate, also stand to reap big returns.
Lyft will trade under the ticker symbol “LYFT.” JPMorgan Chase & Co., Credit Suisse Group AG and Jefferies Financial Group Inc. are leading the IPO.
Lyft recorded $2.2 billion in revenue in 2018 — more than double 2017’s revenue — on a net loss of $911 million.
Hello and welcome to an Equity Shot, a short-form episode of the show where we dive into a single breaking news story. Guess what we’re talking about today?! It’s Lyft . You guessed correctly.
The Lyft S-1 is the very first major S-1 event of 2019. As you might recall, the government shutdown gummed the IPO process by halting the Securities and Exchange Commission, an agency that plays the most active role in helping a company go public. Now the government is open, and Lyft’s formerly private filing is now a public filing.
You can read Kate’s deep dive here or mine here, but what follows is an overview of what we chatted about on the show. Here’s the SEC filing if you want to follow along.
Up top are revenue and growth. Lyft’s revenue grew from $1.06 billion to nearly $2.2 billion from 2017 to 2018. That’s impressive.
Next is costs. Lyft’s costs rose dramatically during 2018, compared to the year prior. In fact, Lyft’s total cost profile rose from $1.77 billion in 2017 to a staggering $3.13 billion in 2018. That’s a lot, and each figure is far higher than its revenue.
Which lead us to losses. Sure those revenue numbers look hot, but Lyft, at the same time, lost $911 million on 2018 revenue and $688 million the previous year. Though, as Alex points out, that ratio is improving, pointing to a positive (maybe even profitable???) future for Lyft.
However, while the S-1 had its ups and downs, two data points stood out that weren’t GAAP, but did make us appreciate Lyft’s work a bit more. As we explain, Lyft’s share of bookings (total value of services) from its platform is rising as is its revenue-per-rider. Those bode well for the future, too.
We closed the episode with some chatter on Lyft’s plan to reward its drivers. The business is helping drivers — the core of its business — earn a piece of that tasty IPO pie with a $10,000 bonus. TechCrunch’s Megan Rose Dickey has more on that here. Plus, we’d have been remiss not to discuss Lyft’s scooter play, which it apparently spent $60 million on last year.
All that and we got an S-1 done. Let’s have a few more, and quickly.
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Pocket Casts, Downcast and all the casts.
Ola, Uber’s key rival in India, is doubling down on electric vehicles after it span out a dedicated business, which has pulled in $56 million in early funding.
The unit is named Ola Electric Mobility and it is described as being an independent business that’s backed by Ola. TechCrunch understands Ola provided founding capital, and it has now been joined by a series of investors who have pumped Rs. 400 crore ($56 million) into Ola Electric. Notably, those backers include Tiger Global and Matrix India — two firms that were early investors in Ola itself.
While automotive companies and ride-hailing services in the U.S. are focused on bringing autonomous vehicles to the streets, India — like other parts of Asia — is more challenging thanks to diverse geographies, more sparse mapping and other factors. In India, companies have instead flocked to electric. The government had previously voiced its intention to make 30 percent of vehicles electric by 2030, but it has not formally introduced a policy to guide that initiative.
That means that Ola Electric won’t just be concerned with vehicles, it has a far wider remit.
The new company has pledged to focus on areas that include charging solutions, EV batteries, and developing viable infrastructure that allows commercial EVs to operate at scale, according to an announcement. In other words, the challenge of developing electric vehicles goes beyond being a ‘ride-hailing problem’ and that is why Ola Electric has been formed and is being capitalized independently of Ola.
Already, it said it has partnered with “several” OEMs and battery makers and it “intends to work closely with the automotive industry to create seamless solutions for electric vehicle operations.” Indeed, that connected car play — Ola Play — likely already gives it warm leads to chase.
“At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” Ola CEO and co-founder Bhavish Aggarwal said in a statement.
“The first problem to solve in electric mobility is charging: users need a dependable, convenient, and affordable replacement for the petrol pump. By making electric easy for commercial vehicles that deliver a disproportionate share of kilometers traveled, we can jumpstart the electric vehicle revolution,” added Anand Shah, whose job title is listed as head of Ola Electric Mobility.
The new business spinout comes as Ola continues to raise new capital from investors.
A filing — first noted by paper.vc — shows that India’s Competition Commission approved a request for a Temasek-affiliated investment vehicle’s proposed acquisition of seven percent of Ola. In addition, SoftBank offered a term sheet for a prospective $1 billion investment last month, TechCrunch understands from an industry source.
Go-Jek is extending its reach in Southeast Asia after its Thailand-based unit made its official launch, which included the addition of a new food delivery service.
Get, which is the name for Go-Jek business in Thailand, started out last year offering motorbike taxi on-demand services to a limited part of Thai capital city Bangkok, now the company said it has expanded the bikes across the city and added food and delivery options. Get’s management team is composed of former Uber staffers while CEO Pinya Nittayakasetwat was recruited from chat app Line’s food delivery business.
Over the last two months, Get claims to have completed two million trips in the past two months. There’s no word on when Get will add four-wheeled transport options, however. On the food side, Get is claiming to have 20,000 merchants on its platform but there are some issues. Rumming through the app, I found a number of listed restaurants that didn’t include menus. In those instances, customers have to input their dish and price which makes it pretty hard to use.
Go-Jek’s Get app in Thailand doesn’t include menus for a number of restaurants, making it nearly impossible to order
Grab is the dominant player in Thailand, where it offers taxis, private cars, motorbikes, delivery and food across eight markets in Southeast Asia. Go-Jek rose to success in its native Indonesia, where it began offering motorbikes on demand but has expanded to cover taxi, cars, food, general services on-demand and fintech. Its investors include Google, Tencent, Meituan and Sequoia India.
Nissan has turned its old Leaf batteries into an off-grid camping companion.
The automaker’s Nissan Energy subsidiary worked with camper manufacturer Opus to create the ultimate “smart” pop-up trailer that integrates cells recovered from its first-generation electric vehicles to provide off-grid power. Add in one to two recharges of the accompanying 400W solar panel accessory and campers can listen to tunes and use their smartphones and other devices, including a microwave, for about 7 days, the companies said. The battery pack can be recharged by the solar panel in 2 to 4 hours.
The Nissan x OPUS concept camper debuted this week at the The Caravan, Camping and Motorhome Show in the UK. Inside the smart camper — code for LED lighting and USB sockets for charging — is a veritable glamping wonderland. You can almost smell the pour-over coffee.
Unlike many other concepts that debut at auto shows, components of the Nissan x OPUS are actually coming to market. The Air Opus is already available with a base price of £15,995 (a bit more than $20,000). The Nissan Energy ROAM product will launch in European markets later this year. Pricing for the ROAM wasn’t immediately available.
This isn’t the first time Nissan’s ROAM unit has shown up in a concept product either. It was featured earlier this year in Nissan’s NV300 concept van designed for woodworkers. Nor is this Nissan’s first foray into the secondary battery market. In November, Nissan launched Nissan Energy to create an ecosystem for owners of its electric vehicles. The idea is for owners to be able to connect their cars with energy systems to charge their batteries, power homes and businesses or feed energy back to power grids. The company said at the time, that it will also develop new ways to reuse electric car batteries.
“The Nissan x OPUS concept is a real-world example of how Nissan Energy ROAM can integrate into our lifestyles – in this case the hugely popular leisure activity of camping,” Nissan Energy managing director Francisco Carranza said in a statement.
The concept pairs the Air Opus, a novel off-road pop-up camper that inflates in 90 seconds, with Nissan Energy’s portable power pack called ROAM. The ROAM unit is mounted in a special compartment at the front of the camper, where it can provide a power supply to both the 230-volt circuit and the 12-volt circuit. The battery pack can also be removed and recharged via a standard 230v domestic socket, or by plugging into a solar panel accessory.
The ROAM unit has a storage capacity of 700Wh and a power output for 1kW. That’s enough power to keep smartphones charged and the lights on. The Nissan x Opus camper has a 230v outlet, USB sockets, a 4G mobile WiFi hotspot for up to 10 devices; and even a digital projector with pull-up screen to watch movies. There’s also a 230v portable microwave and a two-burner gas stove and a fridge.
Hellobike, currently the country’s third-largest bike-sharing app according to Analysys data, announced this week that it raised “billions of yuan” ($1 = 6.88 yuan) in a new round. The company declined to reveal details on the funding amount and use of the proceeds when inquired by TechCrunch.
Leading the round were Ant Financial, the financial affiliate of Alibaba and maker behind digital wallet Alipay, and Primavera Capital, a Chinese investment firm that’s backed other mobility startups including electric automaker Xpeng and car trading platform Souche. The fledgling startup also got SoftBank interested in shelling out an investment, The Information reported in November. The fresh capital arrived about a year after it secured $350 million from investors including Ant Financial.
It’s interesting to note that while both Ofo and Hellobike fall under the Alibaba camp, they began with different geographic targets. By May, only 5 percent of Hellobike’s users were in China’s Tier 1 cities, while that ratio was over 30 percent for both Mobike and Ofo, a report by Trustdata shows.
This small-town strategy gives Hellobike an edge. As the bike-sharing markets in China’s major cities become crowded, operators began turning to lower-tier cities in 2017, a report from the China Academy of Information and Communications Technology points out.
Hellobike’s ambition doesn’t stop at two-wheelers. In September, it rebranded its Chinese name to HelloTransTech to signify an extension into other transportation means. Aside from bikes, the startup also offers shared electric bikes, ride-hailing and carpooling, a category that became much contested following high-profile passenger murders on Didi Chuxing .
In May and August, two female customers were killed separately when they used the Hitch service on Didi, China’s biggest ride-hailing platform that took over Uber’s China business. The incidents sparked a huge public and regulatory backlash, forcing Didi to suspend its carpooling service up to this day. But this week, its newly minted rival Hellobike decides to forge ahead with a campaign to recruit carpooling drivers. Time will tell whether the latecomer can grapple with heightened security measures and fading customer confidence in riding with strangers.
SpaceX is sending of one of newest Falcon 9 rockets back into space for the second time this early morning U.S. time.
The Falcon 9 ‘Block 5’ rocket is designed to be able to go into space and return 100 times, but these are early days. The rocket leaving today is taking Indonesian satellite Merah Putih in what will be its second trip — a re-flight — into space. If all goes well and the SpaceX robotic drone successfully collects the rocket off the Florida coast as planned, then this particular vehicle will be the first Block 5 to manage a repeat lift-off following a previous trip in May.
The next major focus for the firm is to reduce the preparation time and cost required between the relaunch of rockets. Obviously, there’s plenty of benefits for faster turnaround time and the cost-savings associated. But first thing is first and the vehicle out today could become the first Falcon 9 to go into space three times.
The launch happened a few minutes ago, but you can keep up with progress via the SpaceX live feed above.
Didi Chuxing, China’s dominant ride-hailing company, is continuing its international expansion after it announced plans to launch in Australia this month.
The company — which bought Uber’s China business in 2016 — said it will begin serving customers in Melbourne from June 25 following a month-long trial period in Geelong, a neighboring city that’s 75km away. The business will be run by a Didi subsidiary in Australia and it plans to offer “a series of welcome packages to both drivers and riders” — aka discounts and promotions, no doubt. It began signing up drivers on June 1, the company added.
The Australia launch will again put Didi in direct competition with Uber, but that is becoming increasingly common, and also Ola and Didi which both count Didi as an investor — more on that below. This move follows forays into Taiwan, Mexico and Brazil this year as Didi has finally expanded beyond its China-based empire.
“In 2018, Didi will continue to cultivate markets in Latin America, Australia and Japan. We are confident a combination of world-class transportation AI technology and deep local expertise will bring a better experience to overseas markets,” the company added in a statement.
This international expansion has also brought a new level of confusion since Didi has cultivated relationships with other ride-hailing companies across the world while also expanding its own presence internationally.
The Uber deal brought with it a stock swap — turning Didi and Uber from competitors into stakeholders — and the Chinese company has also backed Grab in Southeast Asia, Lyft in the U.S., Ola in India, Careem in the Middle East and — more recently — Taxify, which is primarily focused on Europe and Africa.
In the case of Australia, Didi will come up against Uber, Ola — present in Melbourne, Perth and Sydney via an expansion made earlier this year — and Taxify, too. Uber vs Didi is to be expected — that’s a complicated relationship — but in taking on Ola (so soon after it came to Australia), Didi is competing directly with a company that it funded via an investment deal for the first time.
“The ride-hailing industry is still a young business, and the potential for growth is substantial. Competition exists in ride-hailing, like in any flourishing industry. But it leads to better products and services, which ultimately benefits users,” Didi told TechCrunch in a statement when asked about its new rivalry with Ola and Taxify.
Ola declined to comment. Taxify did not immediately reply to a request for comment.
Waymo has ordered thousands of new Chrysler Pacifica minivans from FCA to help populate its autonomous ride-hailing fleet, which it will open to the public in 2018, the company says. The public launch of its Pacifica-based self-driving ride hailing service is set to occur sometime later this year, after Waymo starts testing its minivans without anyone behind the wheel, achieving true Level… Read More
GM and Cruise are making progress on their plan to deploy autonomous vehicles on roads for the public: Today, it’s showing off its fourth-generation Cruise Autonomous Vehicle (AV), which comes just a few short months after it first revealed its third-generation vehicle. The fourth generation car is production-ready, according to GM’s Dan Ammann, who discussed the new vehicle on a… Read More
Lyft is the latest company to be added to the ever-growing list of those permitted to test their self-driving technology on California state public roads. The California Department of Motor Vehicles added Lyft to the list recently (via Axios), following Lyft’s foundation of a self-driving technology development center earlier this year, and its announcement that it would work on both its… Read More
Grab may be in the process of raising a huge $2.5 billion investment round, with SoftBank, Didi and Toyota confirmed as participants, but Uber’s Southeast Asia-based rival has lost its head of engineering.
Arul Kumaravel, VP of engineering at Grab, has left the company for person reasons, according to a source. It’s not yet clear what his next plan is. Grab confirmed the… Read More
Uber has suspended its services in Philippines after the national regulator banned it from operating for one month. The country’s Land Transportation Franchising and Regulatory Board (LTFRB) ordered a cease and desist against the U.S. ride-hailing firm on Monday over its apparent flouting of a ban on new drivers. The company initially lodged an appeal and continued with its service,… Read More
Less than a month after announcing plans to spin out its transportation and mobility business, Korean tech firm Kakao has inked deals to put hands-free systems inside cars from Korea’s second largest automotive firm Hyundai and its Kia affiliate.
Kakao is best known for operating Korea’s top messaging app, Kakao Talk, which is installed on over 95 percent of the country’s… Read More
It looks like there’s more trouble round the corner for Uber. Reuters is reporting that the U.S. Department of Justice has opened a criminal investigation into the company’s controversial “greyball program” which helped it sidestep law enforcement officials and regulators. The existence of the program was made public in early March following an explosive report from The… Read More
Nutonomy, the self-driving car startup that span out of MIT in 2013, has inked a deal that will see it work with Peugeot-maker Groupe PSA to test autonomous vehicles in Singapore. Nutonomy is more than familiar with Singapore: it has a relationship with local Uber rival Grab and the Singapore Economic Development Board was an investor in its recent $16 million fundraising. This new tie-in… Read More
Yesterday I wrote about a poll conducted by researchers at the University of Michigan that found people were interested in flying cars if they were autonomous, shared, and electric. As soon as I posted that, I found an email in my inbox saying that ChargePoint and Uber Elevate, among others at the recent conference on flying vehicles, had partnered to prepare for just that exact… Read More
The Tesla Model 3 is not a product iteration along the lines of successive iPhones, Elon Musk clarified on Twitter on Friday. Instead, it’s a “smaller model affordable versions of Model S” with less range, less power and fewer features, according to the Tesla CEO. The Model S is still going to be the leader in terms of it technological capabilities – so think more iPhone… Read More
A special version of the new Land Rover Discovery dubbed ‘Project Discovery’ and designed for search and rescue operations is actually being deployed with the Austrian Red Cross – complete with a quadcopter drone that can take off from and land on the SUV, even while it’s moving. Magnets lock the drone in place while the Discovery is login, and the drone can assist… Read More
Uber has patched a bug in its code that allowed a researcher — and anyone else who might’ve discovered the problem — to hail Uber rides without paying for them.
Anand Prakash, a security researcher, discovered the bug in August and received permission from Uber to test it in the U.S. and India. He was able to successfully exploit the bug, getting free rides in… Read More
The bad news just keeps piling up for Uber. The ride-hailing giant has lost a court battle against London’s transport regulators which have been seeking to raise the level of English spoken by private hire vehicles on safety grounds, requiring that all drivers pass an English proficiency test this year. Read More
Alternative models to car ownership now abound, and GM’s putting one more on the table: Maven Reserve, an offering within its Maven on-demand rental service that lets users rent new GM cars for 28 days at a time, complete with parking, insurance and $100 in gas credit. These will cost you, however: The Chevrolet Tahoe is one of the initial offerings, with a $1,500 flat rate for the… Read More
Uber employees have flocked to an anonymous workplace app called Blind as a sort of catharsis since ex-Uber engineer Susan Fowler Rigetti posted about being propositioned and discriminated against while working for the company, according to Blind’s founder Alex Shin.
Rigetti’s explosive post went viral late Sunday night, leading to more than double an increase of Uber employees… Read More
Susan Fowler, a former site reliability engineer for Uber and current engineer at Stripe, accused the company of rampant sexual harassment and human resources negligence in a blog post published today. It’s the latest in a series of events that point to serious questions about Uber’s company culture. Fowler claims that on her first day out of training, she was solicited for sex… Read More
Ford has invested $1 billion in a joint venture with Argo AI, a Pittsburgh-based company with ties to Carnegie Mellon. The goal is to completely outfit Ford vehicles with self-driving technology. Interestingly this isn’t a case of a large company simply hiring talent but the creation of an entirely separate company with an independent equity structure.
Ford is the “majority… Read More
The Bolt is designed to be approachable and at least a little familiar at first, even though it’s actually a very different kind of car under the hood, thanks to its 60 kWh battery and electric motor. Chevrolet knows that a lot of its owners will be first-time EV buyers, and that there’s a learning curve when you’re coming from a long history of driving gas-powered cars. Bolt… Read More