👋 Watts up? Lyft and Mobileye have partnered up to introduce fully autonomous robotaxis in Dallas by 2026. The announcement follows a sharp increase in competition from the likes of Uber and Tesla, who are already investing heavily into autonomous taxis. Also, charging company Revel has received $60 million in funding from New York to expand its infrastructure portfolio. Learn more on these stories, and others, in todays issue.

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Data provided by Google Finance*

Leapmotor launches the B10 - a $20,000 smart EV

🚗 Leapmotor, a partner of global automaker Stellantis, has announced pre-sales of its latest EV, the B10. The vehicle boasts a 420 km range, is priced at $20,535, and comes equipped with advanced smart driving features, including Qualcomm's Snapdragon 8295 intelligent cockpit chip.

Leapmotor confirmed that pre-sales for the B10 will begin on the 10th of March, also marking the first venture into integrating lidar sensors into its vehicles. Lidar plays a crucial role in autonomous driving by enabling precise detection of complex surroundings, a field where other automakers are making significant investments.

The unveiling took place just a day after BYD reduced the starting price of its smart EVs to around $10k. Analysts suggest that such competitive pricing among manufacturers could push automakers to accelerate technological advancements while keeping costs down. The ongoing price war is expected to challenge established brands, Leapmotor’s launch of the B10 highlights this trend, as more manufacturers work to introduce high-tech capabilities in budget-friendly models.

Also, Volvo’s upcoming EX30 will be its first electric model to get the brands rugged Cross Country treatment, including a raised ride height, all-wheel drive, skid plates, and more.

Revel receives $60 million in funding to install 267 fast-chargers

🔋 New York’s governor, Kathy Hochul, has announced a $60 million investment to accelerate the expansion of electric vehicle charging infrastructure in New York City. The loan, provided by NY Green Bank, will support Revel, the city’s largest public fast-charging provider, in significantly increasing its network.

Hochul highlighted the importance of expanding EV infrastructure to facilitate the transition to electric vehicles, stating: “In support of the transition to a clean energy economy, it is critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially those in urban areas. This significant investment addresses the key need of providing electric vehicle users in New York City with much needed public charging options while reducing local emissions.“

The funding will allow Revel to construct 267 new charging stalls across nine locations. Several of these sites expected to be completed within the next 12 months, with the remainder to be completed by 2027. These locations include:

• Maspeth - 60 charging stalls

• LaGuardia Airport - 44 charging stalls

• JFK Airport - 24 charging stalls

• Greenpoint - 30 charging stalls

• Port Morris - 20 charging stalls

Also, the Catalonian government has announced that it will invest over €1.4 billion to double the number of EV charging stations by 2030. The investment will also help in tripling the number of electric vehicles in Catalonia.

Microsoft to purchase 389 MW of solar energy from EDP

☀️ EDP, through its subsidiary EDP Renewable North America, has delivered three new utility-scale solar projects with a total capacity of 400 MW. Microsoft has signed long-term power purchase agreements for 389 MW of electricity and renewable energy credits from these projects, expanding their operational partnership to five sites in total.

EDP commissioned two solar projects in November last year, the 140 MW Wolf Run project and the 110 MW Hickory project. The 150 MW Cattlemen II project came online in the following month.

The Hickory project operates under an Environmental Justice PPA designed by Microsoft and Volt Energy Utility. This agreement will provide funding for the Sharing the Power Foundation, which supports clean energy accessibility, financial aid, and workforce training.

Also, the Gulf Cooperation Council nations have announced a $100 billion investment into renewable energy, this funding is part of a broader strategy to reduce the nations steep carbon emissions.

Lyft and Mobileye to launch robotaxi service as soon as 2026

🚀 Lyft is set to introduce fully autonomous robotaxis, powered by Mobileye, on its ride-hailing platform in Dallas by 2026, with plans to expand into additional markets. This announcement follows a rise in competition within the robotaxi sector, as Waymo prepares to launch a commercial service with Uber and Tesla aims to start its own autonomous ride-hail operation in June.

Marubeni, a Japanese conglomerate with experience in fleet management, will own and finance the Mobileye-equipped vehicles deployed through Lyft’s platform. While Lyft has not yet disclosed its automaker partner for the launch, Mobileye's technology is already integrated into vehicles from brands such as Audi, Volkswagen, Nissan, Ford, and General Motors.

Jeremy Bird, Lyft’s VP of driver experience, stated that the initial launch in Dallas will be followed by a scale-up to thousands of vehicles across multiple cities. Bird also emphasised that finding a fleet ownership partner is a crucial step for Lyft’s asset-light business model, noting: “Mobileye’s got the technology and the relationship with the OEMs, and we have the platform, so it’s the ownership of the fleet that’s the big missing piece.“

Lyft has been in discussions with multiple autonomous vehicle developers, aiming to integrate various autonomous vehicle (AV) providers onto its platform. Uber, meanwhile, has aggressively expanded its AV partnerships, securing agreements with Waymo, Wayve, Nuro, Aurora Innovation, and others. Bird acknowledged that Uber’s rapid AV expansion "does create urgency" for Lyft but believes the industry will not be dominated by a single player. Lyft’s approach now centres on building strong partnerships with both AV developers and companies willing to invest in fleet ownership.

Also, Hyundai will be launching its first line-up of electric vehicles that feature its “Dream“ solid-state battery technology, set to enter the pilot line next month.

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*As of 11:00am EST, on the same business day. Includes top movers from a curated list of companies we cover.