Yahoo Autos EV SPACs hunt for cash, the SVB fallout continues and a new AV startup emerges
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Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B.
It's been quite a week. In 48 hours we saw the largest bank run in history with $42 billion withdrawn on March 9, leaving the bank with a negative cash balance of $958 million by the close of business that day. Regulators stepped in March 10 and took control.
TechCrunch has been deep into this story and will continue to be. You can find all of our coverage on the collapse of SVB here.
And yes, it absolutely has affected the transportation sector, specifically the hundreds of startups within the sector. I spoke to some founders who had moved over most or all of their funds; there are others who were not as successful. And then there were a handful who never had their funds in SVB to begin with.
I'm here in Austin for SXSW and the SVB collapse is the talk of the town — well at least among the thousands who are here from the tech sector.
I will be here through Thursday to moderate a couple of panels and check out all things mobility. A number of automakers (Porsche, VW, Mercedes-Benz), startups (where do I begin?) and execs (Cruise co-founder and CEO Kyle Vogt, GM CEO and Chair Mary Barra) are here this week. And I intend to meet up with as many of these folks as possible.
As for my panels, they are scheduled for March 14 and March 15.
The first panel, entitled "Can Collaborations Unlock the Future of Transportation?" will be held at 10 a.m. March 14 in the Austin Convention Center. The panel includes Christoph Acker, project manager of digitization and innovation at Porsche, Up.Labs president Katelyn Foley and Up.Partners co-founder and managing director Ben Marcus. I covered Up.Labs — an entity that's structured like a venture lab with a new kind of financial investment vehicle — when it launched last June with Porsche as the inaugural partner.
We'll dig into the Up.Labs origin story and get a progress report on its relationship with Porsche; we'll also zoom out and get a state of the mobility industry, venture funding for startups and the challenges that automakers face to stay relevant in an increasingly tech-forward and software-defined world.
The second panel, "Welcoming Our Autonomous Overlords" (and no, I had nothing to do with the title) will be held at 4 p.m. Wednesday, March 15 in the same room if you can believe it. Aurora co-founder and CPO Sterling Anderson, Rob Reich, an executive VP at Schneider, and Paccar VP and CTO John Rich will join me onstage to talk about trucks and e-commerce, autonomous vehicle tech and jobs. And yeah, probably a lot more. I have questions!
Have questions for the folks above? Want me to check something out while I'm in Austin? Email me at kirsten.korosec@techcrunch.com. You also can send a direct message to @kirstenkorosec.
I hope to meet some readers during my stay. And if not, I will debrief y'all here next week.
Reminder that you can drop us a note at tips@techcrunch.com. If you prefer to remain anonymous, click here to contact us, which includes SecureDrop (instructions here) and various encrypted messaging apps.
Micromobbin'
Cooltra's e-mopeds are now available to rent on the Cabify app in Madrid, Barcelona and Valencia.
Check out the extremely Dutch Convercycle bike. It's an e-cargo bike with an expandable rear that can be folded out completely with no tools and a single movement, creating a loading area for luggage behind the saddle.
Cowboy announced AdaptivePower, a new OTA update that will allow its C4 and C4 ST bikes to automatically change power settings depending on hill, wind and weight. The company also announced new funding at a lower valuation.
Helbiz says it has regained compliance with the Nasdaq's trading requirements...but the company's stock is still trading at $0.14.
Honda patented a new type of airbag for motorcycles that hugs a riders torso, rapidly detaches and inflates during a crash.
Lyft has ended its bikeshare service in Minneapolis.
The team at Micromobility Industries has put together a helpful database of all the known micromobility subsidies in the world to help consumers find financial assistance for their small EV.
Segway unveiled new scooters with a focus on safety features like turn signals and better braking.
Specialized Bicycles has launched a new utility e-bike line, Globe, starring the Haul ST cargo bike, priced at $2,700.
French startup Upway has launched its online marketplace that sells refurbished e-bikes in the U.S.
Xiaomi has unveiled its powerful new 4 Ultra e-scooter.
Uber has revealed some updates to its airport pickup features, including expanded Uber Reserve availability, step-by-step directions from a terminal to your driver and walking ETAs.
