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I wanted to highlight one of the founder Q&A interviews that we publish twice a month over at TC+. Rebecca Bellan interviewed the co- founder of Tortoise. The pair cover a lot of ground, including Tier's acquisition of Spin, the future of micromobility, how to own changing business directions, and the difficulties in sidewalk robot delivery.
You can email me at kirsten.korosec@techcrunch.com if you have any questions. You can send a direct message to the person at the social media site.
The company filed a prospectus with the SEC as they prepare to go public via SPAC with Poema Global. The shareholder meeting to approve the merger is on March 31, 2022.
There are some other tidbits.
The company expects to make $630 million when it goes public, which includes an oversubscribed PIPE of $285 million and $345 million held in trust by Poema Global. The funds will be used to expand into China, India and Southeast Asia.
The Taiwanese company's concerns about its dealings with China are detailed in the company's prospectus.
Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be quick with little advance notice and could have a significant impact upon Gogoro's ability to operate profitably in the PRC.
The risk factors show how Gogoro's operations may be subject to a variety of PRC law regarding cybersecurity and data protection, which could result in Gogoro spending additional resources and incur time delays to complete the business combination or be prevented from pursuing certain investment opportunities.
In other news.
Dance is giving customers an e-bike for $79 a month in five new countries. Rollich is also being acquired.
Super 73 released a lot of new e-bike models, including its first electric motorcycle. The other models include a bike for kids, but the motorcycle is just a concept. Get em while they are young.
The benefits of cellular vehicle-to-everything tech to enhance safety for motor vehicles and bicycles were brought about by a partnership between Audi of America and Commsignia. The hardware and software for cars to help them read their surroundings is being developed by AUDI and its partners.
Rebecca Bellan.
Remember six weeks ago when Cruise unlocked a $1.35 billion investment from Softbank Vision Fund after launching a limited driverless taxi service in San Francisco? General GM now owns a lot more of the company.
The equity ownership in Cruise is being bought by GM for $2.1 billion. A previous commitment made by the fund will be replaced by an additional investment by GM.
Cruise was acquired by GM. Softbank and Honda invested in GM as part of an exclusive agreement to develop and produce a new kind of self-driving vehicle. The pool of investors grew with T.Rowe Price and Microsoft.
It's not clear who triggered the buy back. Was Softbank unhappy with progress or was it the result of GM? Maybe a combination.
GM is laying the groundwork for a future spin out and even an IPO for its subsidiary, from where I sit.
Other deals got my attention.
EO Charging ended its merger agreement with First Reserve.
A $250 million strategic investment from Vista Equity Partners will be used to expand its mobility operating system and payments platform, as well as invest into new talent.
The new funding round was led by Mubadala Investment Company with Abu Dhabi Growth Fund. The company reached a valuation of $11.8 billion after this deal.
GoTo Group, the Indonesia tech firm that formed last year via a merger between ride-Hailing giant Gojek and marketplace Tokopedia, plans to raise at least $1.1 billion from an initial public offering scheduled for April 4.
Moove raised $105 million in a Series A2 round led by Speedinvest and Left Lane Capital. Existing investor and new backers included AfricInvest, MUFG Innovation Partners, Latitude and Kreos Capital.
Shift, the used car e-commerce platform, acquired some of competitor Fair Technologies technology, allowing Shift to become the Amazon of the used car marketplace, a platform that displays third-party listings from dealers alongside the company's own inventory.
TuSimple, which is backed by Chinese social media firm Sina Corp, is considering selling its business in China and only operating in the U.S after reaching an agreement with the U.S. government to restrict its data due to security concerns.
David Chang, the founder of Whale Dynamic, says the startup has closed a seed round of about $2.5 million. The round was led by a Beijing-based investment firm managed by veterans from China's leading financial institutions.
According to a source familiar with the matter, Zomato and Blinkit have reached an agreement for a merger. The source said that the deal is worth between $700 million and $750 million.
The second version of the company's collection of open-sourced driving data and high-def maps has been released.
Aurora built a kit that will allow it to develop cars and trucks in parallel, as well as power them with its Aurora Driver.
The company wants to build electric, purpose-built heavy-duty truck platforms.
Ford said it will launch three new electric passenger vehicles and four new electric commercial vehicles in Europe over the next two years, an acceleration of its plans to sell more electric vehicles in the region. Ford's Advanced Manufacturing Center has developed a patent-pending system that uses robots to operate 3D printers through the night to solve a problem in the production line.
By the end of the decade, Maserati plans to phase out gas engines in all of its models, joining a long list of brands that have pledged to go electric.
During its annual meeting, the company gave an update on its strategy, which will now include producing an all-electric 718 followed by a Macan EV as well as building out its own proprietary global network of charging stations next year, a departure from its initial strategy to rely on.
The new EV battery plant will be built in Ontario, Canada.
The government in China has begun to tighten restrictions on Omicron cases after a rise in them. On Wednesday, the automaker sent a notice to employees and suppliers that it was closing.
The EV charging company is working with Tanger Factory Outlet Centers to install charging stations in nine markets in the U.S., with expectations to grow in the coming months.
As fuel prices go up, ride-sharing companies are adding fuel surcharges to their fares. The rising prices are due to Russia's invasion of Ukraine, which has resulted in a mountain of economic sanctions from the west against Russia, including the U.S. ban last week of Russian oil imports.
The Biden administration awarded over $400 million in grants to 70 projects in 39 states to upgrade America's buses and improve safety.
The total compensation of Ford Motor CEO Jim Farley increased by more than 900% to $22.8 million in 2021, largely due to stock awards, according to the company's annual proxy statement. The base salary for Farley was $1.7 million, a 19% increase from 2020. His personal use of aircraft was included in his compensation.
Frank Klein is the new chief operating officer of Rivian.
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