🛺 Mobility Futures #1
🛺 UK Mandates All Cars Sold by 2030 Must Be Electric
HolonIQ's mobility futures coverage for the week ahead.
Our Climate Tech coverage has grown significantly and due to popular demand, we're splitting out our coverage into weekly Energy Futures, Enviro Futures, Infra Futures and Mobility Futures newsletters over the coming weeks.
This newsletter is 'Mobility Futures,' and you can update your subscriptions to any of the other weekly newsletters here.
Happy Monday 👋
The UK’s new government reinstated the policy of mandating that all new cars sold by 2030 be fully electric, which impacts future product plans for automakers. Whether an allowance for e-fuels will be made is yet to be determined, given that the UK is a leader in developing carbon-neutral fuels. Hydrogen for aviation and commercial transport is gaining momentum, given its suitability for such applications over electric powertrains. Automakers are evaluating product strategies on the back of slowing EV demand and are reallocating resources to hybrid models due to their broad market appeal over pure EVs.
🚘 Micro Mobility and EVs
🚗 Global EV Sales Rise in June, Decline in Europe. Market research firm Rho Motion reported that global sales of electric vehicles (EVs) and plug-in hybrid vehicles increased by 13% in June compared to the same month in 2023, driven by growth in China, while sales declined in Europe.
🚖 UK mandates all new cars be electric by 2030. To meet its net-zero emissions target, the UK government mandated that all new cars sold from 2030 must be electric vehicles.
🚕 China's NEV sales surpass the one million mark. In June, over one million new energy vehicles (NEVs), including electric cars and plug-in hybrids, were sold in China, with BYD being the largest manufacturer.
🛬 Aviation
✈️ Saudia Group Acquires Up to 100 eVTOL Jets from Lilium. Saudia Group, a Saudi aviation company, signed an agreement with Lilium, a German aviation company, to acquire up to 100 electric vertical take-off and landing (eVTOL) jets.
🛫 Hydrogen-Powered Aircraft for Short-Haul Flights by 2045. Studies from Chalmers University of Technology indicate that hydrogen-powered aircraft could be used for most flights within a 750-mile radius by 2045, enabling more sustainable short-haul air travel.
🛩️ Hydrogen Fuel Cell eVOTL Achieves 500-Mile Flight. Joby, a US company, successfully flew its hydrogen fuel cell electric vertical take-off and landing (eVOTL) demonstrator for over 500 miles, emitting only water vapor as a byproduct.
⛴️ Marine
⚓️ Sustainable Marine Fuels Pave the Way for Greener Shipping. Recent progress in sustainable marine fuels is expected to drive new regulations for verification and reporting in the shipping industry.
🛬 Propulsion
✈️ Spanish Companies Explore Hydrogen Aviation Hub. Airbus, Aena, Air Nostrum, Iberia, Exolum, and Repsol formed a partnership to study the feasibility of establishing Spain's first aviation hydrogen hub.
🚌 Hong Kong's Citybus Embraces Hydrogen-Powered Buses. Citybus, a public transport operator in Hong Kong, plans to replace 70% of its bus fleet with hydrogen models as part of its sustainability efforts. The company is currently testing a hydrogen bus prototype on public roads.
⚙️ Stellantis Shifts Focus to Hybrid Vehicle Gearboxes as EV Demand Slows. Stellantis NV, an automotive manufacturer, is planning to boost production of transmission systems for hybrid vehicles due to weaker demand for fully electric cars, causing manufacturers to adjust their strategies.
💰Deals of the Week
✈️ Aura Aero, a French aerospace startup, secured $19M in funding from the European Innovation Council and SMEs Executive Agency (EISMEA).
🏍️ Vammo, a Brazilian startup that offers electric motorcycle rentals, raised $5.4M from EXT Capital in a combined debt and equity financing round.
🚌 FreshBus, an electric vehicle bus startup backed by Ixigo, secured $5.3M in a Series A funding round.
🚗 MyPickup, an electric vehicle ride-hailing startup, raised $170K in a seed funding round led by venture capital firm Inflection Point Ventures.
🚗 Carwow, an online car marketplace, raised an undisclosed amount in a Series E funding led by Bessemer Venture Partners and existing investors to accelerate growth in the UK, Germany, and Spain.
🏆 Indo-Pacific Climate Tech 100
Last month, HolonIQ announced the highly anticipated Indo-Pacific Climate Tech 100 in Singapore at the inaugural IPEF Clean Economy Investor Forum 5-6 June, 2024. A free 80 page report is available to download here, profiling the 100 most promising Climate Tech startups in the Indo-Pacific.
Fifty companies representing the Indo-Pacific Climate Tech 100 traveled from across the 14 IPEF partner countries to meet in person in Singapore with over 150 leading investors, philanthropies, and financial institutions, seeking to raise a total of $1-2B in fresh funding at the Forum.
The Indo-Pacific Climate Tech 100 includes companies from all 14 IPEF partner countries, representing the most innovative and promising climate tech companies in the region. The cohort represents companies with a combined total valuation in excess of $20B USD, employing over 12,000 people in green jobs in IPEF economies. The Indo-Pacific Climate Tech 100 cohort attracts total aggregate revenue of $1.5B, growing at more than 20% year over year, and has raised over $12B USD in total funding to date.
Thank you for reading. Have a great week ahead!
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