What replaced EVs, robotaxis, and electric airplanes in 2024

If there was one word that echoed the theme of 2024 — at least in the transportation sector — it was “business whip.” Automakers have changed their EVs-or-bust strategies, startups have started, and some Silicon Valley VCs and executives have changed their minds about the political changes they’re taking part in.

Jaguar went a new polarizing route with rebranding the most affected – and turned on the social network, for several days. GM delayed its EV plans and was forced to change course in software — an internal overhaul inspired by the troubled Chevy Blazer EV that’s been a success. But the automaker’s biggest surprise was its decision to no longer fund the Cruise robotaxi.

Everywhere we looked, startups, VCs, and automotive executives were changing strategies to take advantage of changing consumer demands and, often, to survive.

Here are the main topics and issues of transportation in 2024.

The autonomous vehicles: Pivots, survivors, and scale

The heady years of autonomous vehicle technology – from 2016 to 2020 – are long gone, and the power dynamics have left us in dire straits. Few remaining AV starters, incl Ghost Autonomy and Phantom Autowho had already started, retired for the last time in 2024. Other AV founders received information from their brothers in other circles and he turned to defenseto be a dual-use industry. And some, like TuSimple, have stopped developing independent technology and instead embraced *checks* AI animations and games.

The path to the robotaxi business is still difficult. GM also decided to stop funding the Cruise robotaxi program; the automaker will now use that technology and talent to further improve its driver assistance systems and eventually introduce autonomous vehicles.

However, AVs have been boosted by the booming AI industry and renewed interest in the ultimate autonomous solution (just ask. Wave). That’s it and Zooxtwo of the most profitable AV companies, are still in the robotaxi business. And of course there is Tesla, which this year unveiled its own Cybercab example with plans to start production in 2025 or 2026. CEO Elon Musk also promised to release “unsupervised FSD” and start the robotaxi service in California and Texas next year, but we’re taking those promises with a grain of salt that Musk made due to missing deadlines.

Other AVs worth reading for 2024:

EVs are tested

Automakers like Ford and GM have spent billions of dollars developing their electric cars and investing in US battery factories to keep up sales. EV sales — helped by Biden’s EV tax credit — have continued into this year. But car manufacturers and investors fear that sales of electric cars, which count 8.9% of all car sales in the third quarter, they didn’t pick up at the pace they expected. Tesla saw its profits drop earlier in the year, while Musk noted that automakers were moving away from EVs because of forced from hybrids. This return may only continue into 2025 with upcoming plans to reduce the EV tax credit.

Meanwhile in the EV startup space, the SPAC model has continued to underperform in terms of running a long-term business. We wrote the history of Fisker’s messy fall – which broke down under the wishes of the founders – including how the founders left off HQ in complete disarray and signed an agreement with American Lease, the company that bought Fisker’s fleet, to help owners acquire it. help with memory processing.

Canoo also struggled to find enough money to operate, and in December it started furlough workers. Perhaps the initial money problems stemmed from spending habits, such as double Canoo’s annual expenses on CEO Tony Aquila’s private jet or access to his assets Arrival of friends in need of money.

Faraday Future, despite raising $1 billion when it merged with a SPAC in 2021, is sinking fast – to the extent that data mining company Palantir now has 8.7% shares in the company When Faraday failed to pay for the work he had done.

One of the new EV players that didn’t get noticed in the merger with a special purpose was Rivian. While Rivian hasn’t had much of a run since its record-breaking IPO, the EV maker has made some big strides in 2024, even with some speed bumps along the way, including several lawsuits. senior management is harassing.

Rivian unveiled in March its next-generation R2 SUV and the stunning R3 hatchback. in the summer, The Rivian method of survival it was linked with being able to sell its redesigned R1T and R1S SUVs at a profit to make it available long enough to get its affordable R2 SUVs on the road. Rivian though caught Debt of $ 6.6 billion to restart production at its Georgia plant, although the deal appears to have been backed by a secret deal with the United Auto Workers union.

Tesla was in a tough spot as Musk fought to hold his ground $56 billion in cash payments through the determination and loyalty of the investor. The automaker gave mass laid off this yearits source the entire Supercharger teamabandoned plans to build a $25,000 EV, overseeing Seven Cybertruck he remembersand he uncovered his example of a robotaxi.

Some EVs to watch for 2024:

eVTOL still attracting investors

This was a year of ambitious goals for the high-altitude and low-flying (eVTOL) industry. It seemed like every week there was an announcement as two major players – Joby Aviation and Archer Aviation – shared plans to launch a future electric taxi from 2025.

It’s also been a year of big investments as both companies tried to raise more money to meet the Federal Aviation Administration’s certification and launch of pilot taxis in 2025. Joby, for example, got the first A purse of $500 million from Toyota, then raised $222 million before opening a $300 million donated to the public. Archer soon earned $430 million and they joined Anduril to protect themselves from security – a theme we hope to continue until 2025 if technical protection is on fire. And Beta Technologies raised a $318 million Series C round.

There were also many partnerships between eVTOL startups and traditional airlines – such as Beta’s recent success with Air New Zealand – and the development of vertiports in major cities in the US, Europe, and Asia.

Not every startup has been so lucky, however, as companies have burned through a lot of cash and failed to raise much money. German eVTOL startup Lilium filed for bankruptcy after failing to raise enough capital to continue. In December, the company closed and laid off 1,000 workers but it seems that he has found a the last moment of life from the investor. Listen to yourself.

Next year, 2025, will be the year we see if the remaining companies can get the right approval from the FAA and start doing business from eVTOL.

Here are some eVTOLs worth reading for 2024:

Micromobility swaying forward

The hype on sharing micromobility is long dead. This year there were last chances for mergers, pivots, and few survivors.

Tier and Dott are finally reunitedand Lime continued its steady path, if not steady profits, at least stability and market dominance.

VanMoof’s bankruptcy in 2023 revealed how difficult it is to grow a new e-bike business, despite consumers’ preference for sleeker, sleeker e-bikes. A cake issued for bankruptcy at the beginning of the year, and Onyx Cars it was about to collapse when its 37-year-old owner suddenly died, leaving a mess. Keke and Onyx are given a new chance to survive in 2025.

Some startups have managed to find a way to keep the e-bike business going. Just look at Joco. The startup faced the challenges and managed to adapt its e-bike rental service to delivery workers. profitable business and has also designed cabinets for batteries.

Here’s another micromobility must-read for 2024: