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Mobility SPACs search money and your information to the brand new EV tax credit score – TechCrunch

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Welcome again to The Station, your central hub for all previous, current and future technique of transferring individuals and packages from Level A to Level B. 

Glad Labor Day weekend to all my US and Canada-based readers! If you happen to’re utilizing the three-day weekend to take a highway journey, journey secure.

For these in California, it’s possible you’ll be requested to curb your power use this vacation weekend. Significantly, in case you personal an EV. California’s energy grid supervisor is asking on EV house owners to keep away from charging at peak occasions (4 p.m. to 9 p.m.) as a part of broader effort to maintain the state’s grid up and operating throughout this warmth wave.

The “alert” received me interested by California’s latest determination to ban new fuel vehicles by 2035 and what a flood of EVs would possibly do to an already decrepit energy grid.

Talking of EVs, possibly you’re trying to purchase one? I wrote up a information to the brand new EV tax credit score that you could be discover useful. It’s extra difficult lately. This information tackles new EVs; look out for one more article on used EVs and the tax credit score.

And eventually, if you wish to take a look at TechCrunch Disrupt (and I counsel you do), here’s a little present for my readers. Go to this hyperlink and sort within the code STATION to get 15% off passes, excluding on-line and expo tickets.

Let’s go.

You may at all times e-mail me at kirsten.korosec@techcrunch.com to share ideas, criticisms, opinions, or suggestions. You can also ship a direct message to @kirstenkorosec


the station scooter1a

Rebecca Bellan is on a well-earned trip and so this week’s micromobbin’ can be temporary.

First up is a TC+ article by Bellan that explores why the greatest marketplace for micromobility will find yourself being within the business area, not centered on customers.

In different scootin’ and bikin’ information …

Lime, Spin and Veo are in Milwaukee as a part of a brand new shared scooter pilot that launched this week.

The Atlantic’s “The E-bike is a Monstrosity” column sparked outrage and criticism on social media and even impressed some to write down counterarguments like this one in Outdoors entitled “The E-bike is Pure Pleasure.”

Vermont grew to become the primary state to provide an ebike rebate.


Deal of the week

money the station

The deal-making this summer season has slowed to a drip. The distinction from final summer season — when the deal circulate was extra like a hearth hose — is putting.

Whereas the tempo of offers has slowed, the need for capital has not. It’s significantly palpable within the EV and mobility SPAC world the place corporations as soon as awash with capital in a high-flying market try to get that spigot turned again on.

Lucid and Nikola are amongst a couple of EV SPACs which might be looking for money infusions via inventory choices to carry their delayed autos to market.

The CEO of self-driving tech agency Aurora has floated a variety of choices to the board to increase the corporate’s runway past mid-2024. And final month, Faraday Future (which I’m shocked is even nonetheless right here) stated it would require extra funds by early September 2022 to be able to proceed operations. For these retaining monitor, that’s now.

The upshot? I count on extra of this exercise via the tip of the yr. It’s going to get determined for some.

Different offers that received my consideration this week … (subscribe for all of the offers

Ascend Parts, a U.S.-based lithium-ion battery recycling and engineered supplies firm, acquired a $50 million funding from SK ecoplant, the environmental unit of Korean conglomerate SK Inc.

Populus, the transportation information startup, raised $11 million in a Sequence A spherical to scale its present product in addition to its curb administration software program. The spherical was co-led by Zero Infinity Companions and Climactic with participation from Comcast Ventures and Robert Downey Jr.’s FootPrint Coalition Ventures.

SparkCharge, the cell EV charging community supplier, raised a further $7 million from Cleveland Avenue that’s an add-on to its beforehand introduced Sequence A spherical. The entire increase is now $30 million.

Wish to learn extra? The Station’s weekly emailed publication additionally features a roundup of AV, EV and different information and a “A Little Chook,” a piece through which I share verified insider information. Enroll! It’s free!



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