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Tesla is making headlines again, and it looks like it’s going to be a long-term affair. The week started with layoffs affecting 10% of its workforce and CEO Elon Musk going full throttle on autonomy, but ended with a Cybertruck recall. Just your typical week in the tech world.
While we cover more than just Tesla in our newsletter, don’t miss out on Sean O’Kane’s exclusive on Tesla’s 1,800-mile Tesla Semi charging corridor program. Keep reading for coverage on Serve Robotics’ public market debut, the ups and downs of Waymo, and much more.
Let’s dive in!
A little bird
While we mainly cover startups and Silicon Valley, we’ve got some insider info from Washington, D.C. Word on the street is that federal regulators are close to releasing a Notice of Proposed Rulemaking on autonomous vehicle regulations, a significant step for the industry.
The Federal Motor Carrier Safety Administration (FMCSA) is expected to propose regulations by the summer or fall, setting a safety standard for AVs on public roads. State governments also have the freedom to impose stricter rules within their borders. After years of discussions, it seems like progress is finally being made.
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Deal of the week
Serve Robotics, backed by Nvidia and Uber, went public this week via a reverse merger, raising around $40 million for future expansion. The company plans to increase its robot fleet in partnership with Uber Eats and aims for significant revenue growth by 2025.
Other noteworthy deals include Found Energy raising $12 million in seed funding, Getir considering asset sales, and Swtch Energy securing $27.2 million for EV charging solutions.
