TechCrunch Mobility: SpaceX rockets past Tesla

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I won’t spend a lot of time paraphrasing SpaceX IPO – Every media outlet, including TechCrunch, spilled massive amounts of digital ink on the company’s first day of trading. But there are two important data points to note for anyone closely monitoring the “Future of Transportation” industry.

As of Friday’s market close, SpaceX has a market capitalization of $2.1 trillion, surpassing Musk’s other publicly traded company, Tesla. SpaceX is currently the sixth-largest US listed company by value, behind Nvidia, Apple, Alphabet, Microsoft and Amazon. Tesla’s market cap was $1.52 trillion at market close.

These two companies may soon become one company. There have been a lot of hints and speculation. Last week, a senior reporter Sean O’Kane New language discovered in SpaceX’s S-1 document warns investors of future dilution. An additional sentence states: “We may issue a significant amount of stock in connection with future transactions.” This is not a forecast of some small-scale deal; It probably means Tesla.

On opening day, SpaceX President and Chief Operating Officer Gwen Shotwell added fuel to the speculative fire. During an interview with CNBC, Shotwell seemed open to the idea and said the merger “It might make Elon’s life a little easier.”

And if you want to read more, we have Conveniently packed everything together All in one place, including stories about who will win (Elon Musk) and who might not (lower-tier SPACs).

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Senior correspondent Tim singing I heard from a young bird familiar with GM genes and their inner workings that a “foreign supplier” is providing lithium iron phosphate (LFP) cells for the vehicle. Chevrolet Bolt 2027 – And that the automaker currently has no plans to manufacture LFPs for its electric vehicles.

Formerly, The Wall Street Journal a report It said the arrangement with the foreign supplier – identified as Chinese battery manufacturer CATL – was a temporary stopgap. De Chant has heard that GM will begin producing LFP at its Ultium plant in the coming weeks, but those cells are intended for energy storage systems made by LG Energy Solution. The automaker has not yet decided whether LFP has a future in an electric vehicle beyond the Bolt.

Meanwhile, electric vehicle maker Lucid Motors He is going through some turmoil at the executive level. Pampering mothersa senior executive at Lucid He left the company Just months after being promoted to a leadership role, TechCrunch has learned. Dlala’s exit is the first major executive departure since the naming of Lucid Motors Silvio Napoli as its new CEO in April. And we hear there may be more to come.

Got a tip for us? Email Kirsten Korosek at kirsten.korosec@techcrunch.com Or my Signal at kkorosec.07, or email Sean O’Kane at sean.okane@techcrunch.com.

Offers!

We can officially say goodbye to apple car. Yes, I know this was a special project close In 2024. But now there’s further evidence that Apple has moved beyond self-driving cars.

After getting a tip and some documents, we found it Waymo It acquired a massive 5,500-acre proving ground in Arizona owned by Route 14 Investment Partners LLC, a Delaware shell company linked to Apple. Waymo It acquired the property for $220 millionaccording to the filing.

The acquisition is the latest evidence that Waymo is trying to expand its operations.

Other deals received more attention.

CameraMaticsan Irish company that uses AI-powered video telematics to help make fleets safer, It raised 49 million euros From a consortium led by British investment firm Blume Equity, Irish Strategic Investment Fund and Goodbody Capital Partners.

Robots are clearAn Indian technology company working on developing self-driving ships. It raised $1.75 million Pre-Series A funding round led by maritime transportation-focused Shipsfocus Ventures. Katapult Ocean, SGInovate, M7 Holdings, MGS Ventures and other strategic partners also joined the round.

Evotrexa startup company developing hybrid travel trailers for recreational vehicles, It raised $30 million In a Series A funding round. The funding came from a consortium of Chinese and Hong Kong investment firms, such as GSR United Capital, Forbright Concerto Capital, TTGG Ventures, and Pegasus Capital, among others. Anker, the consumer electronics company, is among its primary investors.

rolea startup company that has developed fleet management software for electric and hybrid fleets, It raised 2.5 million euros In a round led by Movens Capital. WakeUp Capital and Aidiom also participated, in addition to existing backers DayOne Capital, Techstars and Nesprit.

Zeptothe Indian commerce express delivery startup, has revealed plans to create Initial public offering Which could be worth about $1 billion.

Zoom ina startup that provides transportation services (usually on electric buses) to school-age children, is interviewing with banks about a potential IPO, Information reported.

Notable Readings and Other Stories

DescartesAn artificial intelligence startup has unveiled an interactive global model called Oasis 3 that can create realistic driving environments in real time. The startup is initially targeting self-driving vehicle companies that need to simulate rare driving scenarios at scale and plans to expand into robotics and other physical AI applications, the chief correspondent said. Rebecca Bellan reported.

GM It delves into batteries – not electric vehicles. We covered some of GM’s battery plans last week, but there’s more to share. General Motors has announced plans to sell a commercial energy storage system to General Motors AI data centers and the network. It is collaborating with energy storage startup Peak Energy and will develop a completely new sodium-ion battery chemistry designed for grid-scale deployments. With GM and Ford The chase for energy storage — plus a number of startups like Redwood Energy are piling on — looks like it might be Everyone wants a piece of Tesla’s battery business.

Rivian Deliveries have begun One of the most important R2 SUV cars.

Ubera startup in the United Kingdom WIFIand Waymo They head out to confront the robots in London. This is why.

Waymo launched a Loyalty program It’s called Waymo Premier, which will offer frequent taxi riders a number of perks for $29.99 per month. The company also released details about a new computer model it created that is designed to more accurately answer a fundamental question: How does its self-driving software compete with humans?

Wingthe autonomous drone company owned by Alphabet, is moving towards Seven other US cities Through its partnership with Walmart. Wing isn’t the only company using drones to autonomously deliver groceries, and while they’re certainly not mainstream yet, they’re no longer new in some markets.

Another thing…

since SpaceX The IPO just wrapped, and I thought I’d share some initial reactions from our TechCrunch staff. Senior reporter Sean O’Kane and AI editor Russell Brandom recorded a special episode of the Equity podcast on Friday to give the first impression. I suggest listening!

SpaceX’s IPO has finally arrived — and here’s what TechCrunch editors think so far.