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Let’s dive right into the latest news this week without any further delay. There’s a lot to cover, from Lyft expanding into Europe to Nuro making its way to Japan, the test drive of the Lucid Gravity SUV, highlights from the New York International Auto Show, and even a SPAC making a comeback.
Yes, you read that right, SPACs are back in the spotlight. But did they ever really go away? It seems like the merger between autonomous vehicle technology startup Kodiak Robotics and Ares Acquisition Corporation II is proof of their enduring presence in the market.
The deal values Kodiak at around $2.5 billion pre-money, with significant investments from key players like Soros Fund Management and ARK Investments. Kodiak’s founder and CEO, Don Burnette, shared that the timing for this growth opportunity aligns with the progress they’ve made in launching driverless vehicles and generating revenue.
In other notable deals, Conifer, a startup focused on electric hub motors without rare earth elements, secured a $20 million seed round, while Kavak, a Mexican online used car dealer, raised $127 million in equity. Lyft also made headlines by acquiring FreeNow, a German multi-mobility app, marking its entry into the European market.
Moving on to electric vehicles and charging solutions, Nyobolt, a British EV charging startup, raised $30 million in funding, with strategic partners like Scania Invest and Takasago Industry joining the round. Lime announced a partnership with Redwood Materials for battery recycling, while Kia introduced its 2026 EV4 sedan at the New York International Auto Show.
On the autonomous vehicles front, Nuro is expanding its operations to Japan, Waymo and Uber are gearing up to launch their joint robotaxi service in Atlanta, and Zoox has partnered with Stingray Music to offer entertainment options in its robotaxis.
In the realm of ride-hailing, Gensol Engineering and BluSmart are under investigation in India for alleged misuse of electric vehicle loans, leading to the suspension of services in some cities. And in terms of security, Hertz customers were affected by a data breach attributed to a vendor, Cleo, which had previously been targeted by a ransomware gang.
This week’s roundup is just a snapshot of the dynamic landscape of mobility and transportation. Stay tuned for more updates and insights as we continue to explore the future of transportation together.
