🚋 Mobility Futures #14

Happy Monday 👋

Global EV sales surged by 30.5% YoY in September, driven by robust growth in China and a recovery in Europe. Meanwhile, Eve Air Mobility secured an $88M loan to build a production facility for its electric vertical take-off and landing (eVTOL) aircraft. In the Middle East, Saudi Arabia successfully tested its first hydrogen-powered train, as part of efforts to expand its railway network. Additionally, a new Port Readiness Level tool is launched to help ports worldwide prepare for the transition to sustainable shipping fuels. Hyundai Motor India has officially launched its $3.3B initial public offering (IPO), marking the first by an automobile company in India in over two decades.

🚘 Ground Mobility

🚗 Global EV Sales Up 30.5% in September as China Shines, Europe Recuperates. According to market research firm Rho Motion, global sales of EVs increased by 30.5% YoY in September, driven by strong growth in China and a recovery in Europe. 

🚗 Car Makers Need 28% BEV Share to Meet EU CO2 Targets by 2025. The International Council on Clean Transportation (ICCT) published a study showing that major car manufacturers must increase their battery-electric vehicle share to around 28% by 2025 to meet the EU's CO2 emission targets.

⚡ Mahle and Valeo Collaborate on an Emissions-Reducing Motor System. Mahle and Valeo's iBEE system is a magnet-free electric motor that cuts carbon emissions by over 40% and eliminates rare earths. It combines efficient inductive rotor technology with advanced controls and offers 220-350 kW (295-469 hp).

🛬 Aviation

🛩️ Eve Air Mobility Secures Funding for eVTOL Production. Eve Air Mobility, an aerospace company, secured an $88M loan to finance the construction of a production facility for its electric vertical take-off and landing (eVTOL) aircraft.

🚁 United Aircraft Unveils Pilotless Tilt-Rotor Aircraft Prototype. United Aircraft, a Chinese company, introduced the Lanying R6000, a 10-seater pilotless tilt-rotor UAV, touted as the world's first 6-ton model. 

🛩️ Bengaluru Airport To Launch Air Taxis: $20 For 19 Mins To Electronics City. Bengaluru's Kempegowda International Airport (KIA) is partnering with Sarla Aviation to explore the potential of electric vertical take-off and landing (eVTOL) aircraft for city-to-airport commutes.

🚋 Rail

🚆 Saudi Arabia Tests First Hydrogen Train in Middle East. Saudi Arabia successfully conducted a test run of the first hydrogen-powered train in the Middle East region. The country is also working to expand its railway network to support various sectors.

🚄 $1B Funding for US Intercity Rail System Expansion. The Federal Railroad Administration (FRA) made $1B in funding to modernize and expand the intercity rail system in the US, including high-speed rail projects.

🚆 Germany's Subsidized National Public Transport Ticket Boosts Rail Travel, Reduces Road Traffic. According to a recent study, the state-subsidized 'Deutschlandticket' in Germany led to an increase in rail travel and a decrease in individual road traffic.

🚢 Marine

⚓️ New Tool Helps Ports Worldwide Prepare for Sustainable Shipping Fuels. The new Port Readiness Level tool helps ports worldwide assess their preparedness for sustainable fuels like methanol, ammonia, and hydrogen. It provides a step-by-step approach to meet safety and logistical requirements for a smooth transition to low-carbon maritime fuels.

⚓️ Swedish Maritime Administration Introduces Unique Electric Pilot Boat. The Swedish Maritime Administration's new Artemis EF-12 Pilot boat is the first 100% electric hydrofoil vessel in Nordic waters. It uses eFoiler technology for zero emissions, reduced drag, and minimal marine ecosystem disruption.

🛥️ Hyundai Heavy Industries Develops Eco-Friendly Ammonia Dual-Fuel Engine. HD Hyundai Heavy Industries developed the H22CDF-LA, the world’s first high-pressure ammonia dual-fuel engine, approved by seven classification societies. The 1.4-2.2MW engine uses carbon-free ammonia, reducing emissions for ships and land power.

💰 Deals of the Week

🚗 Hyundai Motor India Unveils Mega IPO Details. Hyundai Motor India has launched a historic IPO valued at $3.3B, making it one of the largest in Indian market history. This move reflects strong investor confidence and represents a significant step for Hyundai as it aims to expand its operations and investments in India, particularly in electric and hybrid vehicle technology.

🚇 Tokyo Metro's IPO Raises $2.3B in Runaway Success. Tokyo Metro Co. Ltd. raised $2.3B in its initial public offering (IPO) due to strong investor demand, with shares priced at the top of the range.

🛴 Voi Issues €50M Bond for Fleet Expansion and Debt Refinancing. Voi, a mobility company, issued its first-ever $52.7M bond to expand its fleet of e-scooters and e-bikes, refinance debt, and support corporate activities.

🚚 Cartage Secures $3.3M Funding for AI-Powered Freight Automation. Freight carrier startup Cartage, founded by Harman Sahota, Abdul Basharat, and Josh Lampen, raised $3.3M in funding for their AI-powered freight automation platform.

🚚 Indonesian shipping platform Andalin secures fresh funding as part of Series C round. Andalin, a Jakarta-based digital freight forwarding company, raised at least $1.5M as part of its Series C funding round.

🚗 Shiftmove Expands into France Through Optimum Automotive Acquisition. Shiftmove, a company in the mobility industry, acquired Optimum Automotive, enabling it to expand its operations into France, Europe's largest fleet market.

🚚 HOLT Truck Centers Acquires Kyrish Truck Centers. HOLT Truck Centers, a HOLT Group operating company, acquired Kyrish Truck Centers.

🚗 Chinese Automaker GAC Backs Self-Driving Startup Pony.ai. Chinese automaker GAC invested in self-driving car startup Pony.ai in a new funding round, aiming to boost its autonomous driving capabilities to catch up with Tesla.

Thank you for reading. Have a great week ahead!
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