RIP, Cruise robotaxi

Autonomous Vehicles - GM's decision to no longer fund its self-driving car subsidiary Cruise was a surprise, leading to significant changes including layoffs of 24% of Cruise's workforce and the resignation of its co-founder Kyle Vogt [1] - Cruise, acquired by GM for $1 billion in 2016, faced regulatory suspension and ceased operations after an incident involving a pedestrian in October 2023 [1] - The autonomous vehicle industry has seen consolidation, with major players like GM's Cruise, Alphabet's Waymo, Hyundai-backed Motional, and Amazon-owned Zoox remaining by 2023 [1] - San Francisco is identified as the most prepared city for new transportation technologies like AI, autonomous vehicles, and air taxis [10] - Uber and WeRide launched a robotaxi service in Abu Dhabi [10] Urban Air Mobility - Hyundai's urban air mobility startup, Supernal, is shifting its global headquarters from Washington, D C to Irvine, affecting around 5% of its workforce [2][3] - Investors continue to show interest in future-of-flight SPACs, with companies like Archer Aviation and Joby Aviation raising significant funds [5][6] - Archer Aviation raised $430 million for a new business unit focused on defense applications, including a partnership with Anduril to build a hybrid VTOL [7] - Joby Aviation launched a public offering to sell up to $300 million of its shares, adding to the $222 million raised in October, aiming for a total of $522 million [7] Electric Vehicles and Charging - Fisker resolved a federal safety investigation regarding its Ocean SUVs potentially rolling away unexpectedly [11] - Lightship launched its all-electric travel trailer, the AE 1 Cosmos Edition, with plans to produce only 50 units priced at $250,000 [12] - Lucid Gravity SUV entered production with an estimated EPA range of 450 miles [12] - Rivian's EVs ranked last on Consumer Reports' reliability list [12] - WeaveGrid, an EV charging software startup, raised $28 million in a round led by Toyota's Woven Capital [7] Other Transportation News - Amazon expanded into online car sales with Amazon Autos, allowing customers to buy new vehicles from dealerships [13] - Salvatore Palella resigned as CEO of Micromobility com, with his holding company taking on all of the company's debt [13] - Spotify discontinued its in-car streaming device, Car Thing, with all units now disabled [13] - Uber has 30 days to require certain drivers to get fingerprinted to continue transporting unaccompanied teens in California [13] Industry Trends and Investments - Nikola, a producer of battery and hydrogen-electric trucks, is taking steps to repay debts and raise equity, including a $100 million common stock sale [7] - The autonomous vehicle industry saw significant hype and investment, with parallels drawn to the current AI boom [1]