Hyundai Invests $1 Billion in AV Startup Motional as Elon Musk Disbands Tesla Supercharger Team

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In recent news, the transportation sector has seen its fair share of ups and downs. EV startup Fisker, ride-hailing company Ola, and lidar company Luminar have all made significant cuts to their workforce in an effort to stay afloat. On the other hand, Tesla CEO Elon Musk made a surprising decision to axe the automaker’s global Supercharger network team, leaving many in the industry shocked and puzzled.

But it’s not all doom and gloom in the transportation world. Motional, an autonomous vehicle startup, secured a substantial multi-million-dollar investment from Hyundai, signaling a positive development in the industry. Other notable deals include LiNova Energy raising $15.8 million in funding and Rivian receiving an $827 million incentives package from the state of Illinois.

In addition to these updates, the National Highway Traffic Safety Administration has opened an investigation into Ford’s hands-free driver-assistance system, BlueCruise, following recent crashes. The agency has also finalized a new safety standard that will make automatic emergency braking standard on all passenger cars and light trucks by 2029.

Overall, the transportation sector is experiencing both challenges and opportunities, making it an exciting time for innovation and growth. Stay tuned for more updates and insights from TechCrunch Mobility every Thursday!