TechCrunch mobility: Slate’s ‘transformer’ electric vehicle truck is unveiled, and Tesla's contrasting realities

Slate unveils 'transformer' EV truck; Tesla profits drop 71% amid expansion plans.

: Slate, a Bezos-backed EV startup, unveiled a 'transformer' electric truck at an event in Long Beach, California, echoing a more than meets the eye design. Tesla's financial performance shows a 71% drop in profits year-on-year, amidst plans for a robotaxi service and lower-cost EV launch. The U.S. Department of Transportation updates its Automated Vehicle Framework, redefining crash reporting rules that apply to Tesla, among others. Meanwhile, Waymo, VW, Uber, and other companies continue to push forward with their autonomous and electric vehicle initiatives.

Slate, the Amazon-backed electric vehicle start-up, made headlines with the launch of its 'transformer' electric truck. This vehicle is described internally by Slate leaders as an innovative concept, reminiscent of the “more than meets the eye” theme from the animated Transformers series. Unveiled at an event in Long Beach, California, the truck represents a significant push into the market with expectations of changing consumer perceptions about electric vehicles.

In a contrasting narrative about Tesla, the company's recent earnings report highlighted a 71% drop in profits year-over-year. Despite the financial decline, Elon Musk emphasized the company's future projects, including an autonomous ride-hailing service and the upcoming release of a budget-friendly electric vehicle. These initiatives reflect Tesla's dual reality: while current profits and revenues from their automotive sector decline, their innovation-driven ambitions continue to capture investor interest.

Federal developments in transportation regulations were marked by an update from the U.S. Department of Transportation. This new Automated Vehicle Framework includes a Standing General Order (SGO) on crash reporting for vehicles with advanced driver-assistance systems (ADAS) and automated driving systems (ADS). The revision prolongs the reporting timeline to five days and adjusts its criteria, affecting companies such as Tesla, GM, and Ford, who integrate Level 2 systems like Autopilot, Super Cruise, and BlueCruise, respectively.

Elsewhere, various companies made significant moves in autonomy and electric vehicles. Waymo's CEO, Sundar Pichai, hinted at personal ownership possibilities during an earnings call, reinforcing the company's long-standing interest in licensing its technology to automakers. Meanwhile, Volkswagen and Uber announced plans for a robotaxi service with autonomous VW ID. BUZZ vehicles across U.S. cities within the coming decade, albeit starting with human safety drivers.

Investment activities saw Ather Energy reducing its IPO size and DoorDash exploring a $3.6 billion acquisition of Deliveroo. Electra secured $115 million for their hybrid electric aircraft with backing from major firms like Prysm Capital. Rivian signaled its AI integration focus with the addition of Aidan Gomez from Cohere to its board, while Faraday Future had founder Jia Yueting return as co-CEO, illustrating the continued dynamism and narrative shifts within the electric and autonomous vehicle markets.

Sources: TechCrunch, Axios, Consumer Reports

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