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Canoo is being investigated by the SEC

Canoo, the Los Angeles-based electric vehicle startup that debuted on the Nasdaq public exchange earlier this year, is being investigated by the U.S. Securities and Exchange Commission, just months after its merger with special purpose acquisition company Hennessy Capital Acquisition Corp.
The investigation is broad, covering the Hennessy’s initial public offering and merger with Canoo, the company’s operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics, along with the recent departures of certain of the company’s officers, according to a quarterly earnings report posted Monday. Canoo learned of the investigation on April 29. …

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The Station: Exits at Waymo and Bird’s SPAC reveals its scooter-nomics

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.
Hello and welcome back to The Station, a weekly newsletter dedicated to all the ways people and packages move (today and in the future) from Point A to Point B.
Here’s a crypto-meets-transportation story for you before we move onto the rest of the news.
Just weeks after Tesla CEO Elon Musk and CFO Zach Kirkhorn said they believe in the longevity of bitcoin, the company has changed its stance. Musk, who has …

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Fisker and Foxconn sign deal to build electric vehicles

Electric car startup Fisker signed an agreement with Foxconn, the Taiwanese company that assembles iPhones, to co-develop and manufacture a new electric vehicle. Production on the car, which will be sold under the Fisker brand name in North America, Europe, China and India, will begin in the U.S. by the end of 2023. Numerous details, including the type of car and the location of future manufacturing plants, have not been disclosed by the two companies.
Fisker is calling the joint program Project PEAR, which stands for Personal Electric Automotive Revolution. Fisker chairman and CEO Henrik Fisker has bragged that the …

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Ford reveals three new details about its officially named F-150 Lightning electric pickup truck

Ford confirmed Monday that its all-electric pickup truck will be named the F-150 Lightning, resurrecting a name that once donned the SVT F-150 in the 1990s.
The company hasn’t said much about the powertrain, range or other specs. However, Ford President and CEO Jim Farley provided new details about the electric pickup that is coming to market next year. Most notably, it seems that the battery on the Ford F-150 Lightning will have the ability to power a home during an outage. Ford has touted the capability of its Hybrid F-150 to power a job site or tools, but …

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Tesla refutes Elon Musk’s timeline on ‘full self-driving’

What Tesla CEO Elon Musk says publicly about the company’s progress on a fully autonomous driving system doesn’t match up with “engineering reality,” according to a memo that summarizes a meeting between California regulators and employees at the automaker.
The memo, which transparency site Plainsite obtained via a Freedom of Information Act request and subsequently released, shows that Musk has inflated the capabilities of the Autopilot advanced driver assistance system in Tesla vehicles, as well the company’s ability to deliver fully autonomous features by the end of the year. 
Tesla vehicles come standard with a driver assistance …

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If 12% is the new 30%, 4% is the new 12%

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
The whole team was aboard for this recording, with Grace and Chris behind the scenes, and Danny, Alex and Natasha on the mics. We had to cut more than we included this week, which should give you a good idea of how busy the startup and VC worlds are of late.
Make sure that you are following the podcast on Twitter, where we post all sorts of memes and cuts and, perhaps, the occasional video here and there. That aside, here’ …

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Revel’s Frank Reig shares how he built his business and what he’s planning

It’s only been three years since they hit the streets and Revel’s blue electric mopeds have already become a common sight in New York, San Francisco and a growing number of U.S. cities. However, Revel founder and CEO Frank Reig has set his sights far beyond building a shared moped service.
In fact, since the beginning of 2021, Revel has launched an e-bike subscription service, an EV charging station venture and an all-electric rideshare service driven by a fleet of 50 Teslas.
So we caught up with Reig to talk about what he learned from building the company, how …

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Investors cheer as Lyft’s Q1 revenue didn’t fall as much as expected

Investors gave Lyft’s value a small bump Tuesday after the American ride-hailing company reported results that weren’t quite as bad as the company, and Wall Street, had expected. Shares of the Uber competitor rose as much as 4.5% in after-hours trading following the disclosure of its financial performance from the first three months of the year. As of the time of writing those gains have fallen to a smaller 2.5% gain.
Turning to its results, Lyft’s revenue fell 36%, to $609 million, in the first quarter of 2021 compared to the same period last year before the COVID-19 pandemic upended the economy, …

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Uber and Arrival partner to create an EV for ride-hail drivers

Arrival, the electric vehicle manufacturer that’s attempting to do away with the assembly line in favor of highly automated microfactories, is partnering with Uber to create an EV for ride-hail drivers. 
Arrival expects to reveal the final vehicle design before the end of the year and to begin production in the third quarter of 2023. Uber drivers have been invited to contribute to the design process to ensure the vehicles are built to suit their needs.
Uber is trying to make good on a promise it made last year to become a fully electric mobility platform by 2025 in London, 2030 in …

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The Station: Lyft sells its self-driving unit, Uber makes a big product push and Revel jumps into ride-hailing

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.
Hi there, new and returning readers. This is The Station, a weekly newsletter dedicated to all the ways people and packages move (today and in the future) from Point A to Point B.
We took a week off and now we’re back. Whoop. Let’s catch up on all things transportation.
My email inbox is always open. Email me at kirsten.korosec@techcrunch.com to share thoughts, criticisms, offer up opinions or tips. …

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