🚋 Mobility Futures #13

Happy Monday 👋

The EU plans to impose tariffs of up to 35.3% on Chinese electric vehicles, raising concerns among German carmakers about potential industry disruption and higher prices. In the US, General Motors surpassed Ford as the second-largest EV brand after Tesla in the third quarter. Toyota invested an additional $500M in Joby Aviation to advance electric air taxi development. Danish shipping giant Maersk expects a global CO2 levy to be approved by the IMO in 2025. Meanwhile, Saudi Arabian Railways is acquiring 15 high-speed trains and Detroit-based electric RV startup Grounded raised $3.5M in pre-seed funding to support its growth.

🚘 Ground Mobility

🚘 EU Tariffs on Chinese Electric Cars Could Raise Prices, Warn German Carmakers. The European Union paved the way for punitive tariffs of up to 35.3% on battery-powered electric vehicles from China, which German carmakers warn could significantly damage Germany's automotive industry and lead to higher consumer prices.

🚗 GM overtakes Ford as the second-largest EV brand in the US. General Motors (GM) surpassed Ford to become the second-largest EV brand in the US after Tesla during the third quarter of 2024.

🚘 Hyundai and Waymo Form Strategic Partnership. Hyundai Motor Company and Waymo, a leading autonomous driving technology company, entered a multi-year strategic partnership. The partnership involves integrating Waymo’s fully autonomous driving technology, the Waymo Driver, into Hyundai’s all-electric IONIQ 5 SUVs, which will be added to the Waymo One autonomous ride-hailing fleet.

🛬 Aviation

🚁 Toyota Boosts Investment in Joby Aviation for Electric Air Taxis. Toyota Motor Corporation invested an additional $500M in Joby Aviation, a company developing electric air taxis, to support the certification and commercial production of Joby's aircraft.

🛩️ Brazil's First Flying Car Takes Flight. Brazil made history with the first flight of a flying car in Sao Paulo, opening up possibilities for eco-friendly urban air travel.

🛩️ Urban Air Mobility Market Sees Rapid Growth Driven by Innovation. The Urban Air Mobility Market is experiencing rapid growth at a 29.7% CAGR, driven by innovation in the industry according to a press release from market research firm Persistent Market Research.

🚋 Rail

🚈 Saudi Arabian Railways Acquires New High-Speed Trains. Saudi Arabian Railways is purchasing 15 new high-speed trains to improve its North-South rail route and enhance passenger services.

🚉 Vietnam to Build $67B High-Speed Railway. The Vietnamese government plans to fully finance a $67B high-speed railway project connecting the north and south of the country without foreign loans.

🚈 Network Rail Signs Agreement with Korean Rail Research Institute. Network Rail, a rail infrastructure company in the UK, has signed a Memorandum of Understanding (MoU) with the Korean Rail Research Institute (KRRI). The MoU focuses on developing technology to improve railway resilience, especially against extreme weather conditions.

🚢 Marine

🛥️ Maersk Expects Global CO2 Levy Approval by Ship Regulator in 2025. Maersk, a Danish shipping company, expects the International Maritime Organization (IMO), a global ship regulator, to approve a global CO2 levy in 2025.

🛳️ New Green Shipping Technology Unveiled. A2O Manufacturing, in a joint venture with Daresbury, has developed a prototype wind-assisted propulsion system called the AirWing for GT Wings, aimed at making shipping more environmentally friendly.

🛥️ BIMCO Approves First Autonomous Ship Management Agreement. BIMCO's Documentary Committee has adopted the AUTOSHIPMAN agreement to address the increasing use of remotely controlled ships.

💰 Deals of the Week

🛫 Toyota Invests in Electric Air Taxi Startup Joby Aviation. Toyota Motor Corporation increased its investment in Joby Aviation, an electric air taxi startup, bringing its total stake to $894M.

🚙 Electric RV startup Grounded raises $3.5M in pre-seed funding. Grounded, a Detroit-based electric RV startup, closed a $3.5M pre-seed funding round.

🛩️ Jet Parts Engineering Acquires Mitchell PMA Division. Jet Parts Engineering acquired Mitchell PMA, the PMA division of Mitchell Aircraft.

🛵 Palantir Acquires Stake in Faraday Future. Palantir, a software company, acquired an 8.7% stake in Faraday Future, an electric vehicle startup, according to a recent SEC filing.

🛳️ MSC to acquire port operator and logistics firm. MSC, a maritime shipping company, is set to acquire a Hamburg port operator and a French logistics firm.

Thank you for reading. Have a great week ahead!
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