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I was out for a few days last week, so I need to catch up a bit. I don’t want to rehash it too much, but I’m hoping to see some big news items here, namely Wayve’s $1.2 billion funding.
One more home note: Next week I’m going to Austin for SXSW. SXSW is an annual technology, music, film, and culture event that always brings together technology founders, creators, politicians, and other industry figures. I’ll be attending the Rivian event, where the company is expected to reveal details about its upcoming R2 product line. I’ll also be moderating a panel with Rivian CFO Claire McDonough, Madison Reed CEO and Founder Amy Ellet, and Spotify Chief Communications Officer Dusty Jenkins called “Innovation and Impact: Women Leaders Transforming Legacy Industries.” If you’re out there, please reach out!
Speaking of Rivian, the company plans to be the fastest to launch a new all-electric vehicle in the U.S. with the upcoming R2 SUV. And the stakes couldn’t be higher.
Senior reporter Sean O’Kane looked at past sales data and Rivian’s own 2026 projections. Rivian said it expects to sell 20,000 to 25,000 R2s this year, with the first cars expected to reach customers in June once production begins.
That means it will take 6 months to reach that goal. Even if Rivian hits the lower end of that goal, its sales rate will outpace any other comparable sub-$60,000 electric vehicle, with the exception of the Tesla Model Y, O’Kane wrote. Read the full text here.
My question is, what tactical moves does Rivian intend to use to achieve that goal? It’s probably not enough to say “pent demand, stupid.” This is no small feat. Rivian expects to try different tactics to spread the word and convert interest in EVs into actual sales. What do you think the company will do? Please email me!
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October 13-15, 2026
small bird
There are no birds this week. At least we don’t have any little birds to share. Please remember. If you have a tip for us, email kirsten.karasec@techcrunch.com or contact korosec.07 via Signal. Sean O’Kane’s email is sean.okane@techcrunch.com
Great deal!
This is from last week, but it’s worth commenting. I’m talking about Wayve and its $1.2 billion raise (and up to $1.5 billion if it unlocks the $300 million milestone-based investment from Uber). As I mentioned in my article, it seems like everyone wants a piece of this British startup, which is currently valued at $8.6 billion.
Wayve takes a different approach to autonomous driving. I don’t want to be an operator. Instead, the company hopes to license its software – both fully self-driving products and lower-end products for advanced driver-assistance systems – to automakers and robo-taxi operators. Wayve takes a self-learning approach to software. The company has developed a software layer with an end-to-end neural network that does not require high-resolution maps and uses data only to teach the vehicle how to drive. It’s hardware agnostic, which could make it attractive to Wayve backers Mercedes-Benz, Nissan and Stellantis.
Other sales that caught my attention…
WSJ reported that Denso, an auto parts manufacturer affiliated with Toyota Motor Corporation, has made a takeover proposal to Kyoto-based semiconductor manufacturer ROHM.
Einride, a Swedish startup known for manufacturing both electric trucks and autonomous pods designed to carry cargo, has secured an oversubscribed $113 million PIPE (private investment in public equity) ahead of its public debut scheduled for the first half of 2026.
Harbinger has acquired self-driving software company Phantom AI. Terms were not disclosed.
Volvo-backed Swedish battery technology company Holyvolt has acquired battery materials company Wildcat Discovery Technologies in a deal valued at $73 million.
Momenta, a Chinese self-driving car developer backed by GM and Tencent Holdings, has secretly filed for an initial public offering in Hong Kong, Bloomberg reported. The company could aim to raise at least $1 billion in its IPO.
Nominal, a software startup that helps defense, space, energy, and automotive companies test manufacturing processes, has raised $80 million in a Series B extension round led by Founders Fund at a valuation of $1 billion.
Toyota has raised its offer to supplier Toyota Industries to $30 billion.
African startup Zeno has raised $25 million in a Series A round to expand its app-controlled battery swapping network and produce more Emara motorcycles. Approximately $20.5 million of that was raised in equity funding led by Congruent Ventures with participation from Active Impact and Lowercarbon Capital. The remaining $4.5 million is a debt facility from Camber Road and Trifecta Capital.
Notable reads and other trivia
Chinese automaker BYD has announced a new battery pack that can charge from 10% to 70% in five minutes. While this is certainly a game changer, there is an important caveat to this claim. That means you need a specific EV charger.
According to Bernstein’s analysis, Chinese automakers such as Hyundai, Toyota and Chery could potentially face the biggest impact from wars between the US and Israel and Iran, as the Middle East accounts for a significant proportion of their deliveries, CNBC reported.
The Volkswagen Group crossed an EV milestone this week. The company announced it has delivered 4 million fully electric vehicles since launching its first model in 2013. Half of them were from the Volkswagen brand. The remaining sales came from ŠKODA, SEAT/CUPRA, Volkswagen Commercial Vehicles and Porsche.
Video shows a Waymo robotaxi blocking an ambulance at the scene of a mass shooting in Austin over the weekend. A spokesperson for Austin-Travis County EMS told Axios that officers responded to the situation following established procedures and were able to quickly remove the vehicle. Waymo did not issue a statement to retailers at the time. The incident is the latest incident in which first responders have been used to move Waymo, raising questions about the technology’s readiness.
One more thing…
The National Highway Traffic Safety Administration has scheduled a forum on self-driving vehicle safety for Tuesday. AV leaders will be in attendance, including Aurora co-founder and CEO Chris Urmson, Waymo co-CEO Tekedra Mawakana, and Zoox CEO Aicha Evans.
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