Tag: bankruptcy

Welcome back to DailyTech Mobility, your go-to source for all things related to the "future of transportation." To receive this directly in your inbox, sign up for free by clicking on DailyTech Mobility! The year in transportation began with a couple of bankruptcies — Canoo and Nikola — and is now ending with two more. Rad Power Bikes is facing an end, or at least a bankruptcy. The electric bike company has filed for Chapter 11 bankruptcy protection, following a warning to employees that it might have to shut down without additional funding. While the company plans to continue operating during the bankruptcy process and is seeking a buyer within 45-60 days. Another troubled company, lidar maker Luminar, has also filed for bankruptcy this week. The situation with Luminar seems more definitive, as the company plans to sell off its business. Despite continuing operations during the bankruptcy process to minimize disruptions, Luminar is expected to cease to exist once the process is complete, as reported by senior reporter Sean O'Kane. For more details, O'Kane's article delves into how Luminar's failed deal with Volvo led to its bankruptcy. Although the year saw some setbacks, there was still significant innovation and growth in 2025. The emergence of the robotaxi industry has been notable, with new autonomous vehicle-related companies appearing, setting the stage for a trend in 2026. The robotaxi sector has been predominantly influenced by Waymo's rapid expansion, with players like Zoox and Tesla also making their mark. The upcoming year may witness these companies competing more directly in the same markets, alongside increased scrutiny on safety and the integration of robotaxis into everyday life. Meanwhile, electric vehicles faced challenges this year, prompting automakers to adapt to the changing landscape. Techcrunch event San Francisco | October 13-15, 2026 For example, Ford is making another pivot, discontinuing production of the fully-electric F-150 Lightning as part of a broader restructuring to focus more on hybrids and gas-powered vehicles. As part of this shift, Ford is exploring the "extended range electric vehicle" version of the truck, incorporating a gas generator for over 700 miles of range. Additionally, Ford is entering the energy storage sector and remains committed to launching a midsize electric truck in 2027. Despite challenges, the electric vehicle market remains vibrant, with the imminent launch of Rivian's R2 and Slate Auto's electric truck promising smaller, more affordable EV options. Housekeeping note: This marks the final newsletter of the year. The next update will be from Las Vegas, covering the annual tech trade show known as CES. Attending? Feel free to reach out! Thank you to all the readers for your engagement, feedback, and contributions. Your input is valuable, and I look forward to connecting with you again in 2026! A little bird Image Credits:Bryce Durbin Our reporter Jagmeet Singh, based in India, is always informed about the latest startup deals, including the recent developments with Spinny, the Indian online marketplace for used cars. Spinny is in the process of raising approximately $160 million to acquire the car services startup GoMechanic. This Series G round involves a mix of primary and secondary transactions, valuing the 10-year-old startup at about $1.8 billion post-money. Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or contact Sean O'Kane at sean.okane@techcrunch.com. Deals! Image Credits:Bryce Durbin Boatsetter and GetMyBoat, two companies operating boat rental platforms similar to Airbnb, have agreed to merge. Cowboy has made a return, following its acquisition by ReBirth Group Holding, which owns Gitane, Peugeot, and Solex. The Brussels-based e-bike startup faced challenges, including a frame recall, but the terms of the acquisition include €15 million ($17.6 million) from existing shareholders. Nirvana Insurance, an insurance tech startup focusing on trucking, secured $100 million in a Series D funding round led by Valor Equity Partners, with participation from Lightspeed and General Catalyst. The company's new valuation is now $1.5 billion, as reported by former TC reporter Mary Ann Azevedo. Notable reads and other tidbits Image Credits:Bryce Durbin Redwood has introduced a newly patented Battery Collection Bin designed to encourage battery recycling. The system, launching in San Francisco, safely stores, packages, and monitors batteries and battery-containing devices. Rivian has implemented its branded "Universal Hands-Free" driving feature through a software update for its second-generation R1 EVs. This update enables hands-free driving on 3.5 million miles of roads in the U.S. and Canada, subject to visible painted lines. Additionally, senior reporter Sean O'Kane delves into Rivian's AI-powered self-driving technology. Securing America's Future Energy has appointed a new CEO, with Avery Ash taking the helm. Ash, previously SAFE's Senior Vice President of Government Affairs and Special Initiatives, will lead the organization. Slate Auto, the electric truck startup backed by Jeff Bezos, has amassed over 150,000 refundable reservations for its low-cost EV set to launch by the end of 2026. Sterling Anderson, in his first six months at GM, is already being speculated to succeed Mary Barra as CEO. The future leadership of GM remains uncertain, with discussions also involving GM president Mark Reuss. Tesla has removed human safety monitors from its robotaxis in Austin, marking a significant milestone despite a limited fleet size. In California, Tesla faces challenges following a ruling that its marketing of Autopilot and Full Self-Driving software was deceptive, prompting a potential suspension of sales and manufacturing licenses. One more thing ... In addition to my role at DailyTech Mobility, I co-host Equity, DailyTech's podcast focusing on the startup business landscape. I contribute to the Friday show offering insights on the week's news and occasionally interview founders or VCs for the Wednesday show. Check out my latest interview with Jiten Behl, partner at Eclipse Ventures and former chief growth officer at Rivian, discussing the upcoming era of industrial transformation in the U.S., characterized by AI-powered robotics in manufacturing. Listen to the episode here.

Tag: bankruptcy

DailyTech Mobility: Bankruptcy takes out two

Accounting experts call for public inquiry into Birmingham bankruptcy

Quick Links

Resources

Support