Tesla Layoffs, Cybertruck Recalls, and Serve Robotics’ IPO

In the world of transportation and technology, Tesla has once again taken center stage. The week started off with the electric car company announcing layoffs of about 10% of its workforce, totaling more than 140,000 employees. CEO Elon Musk also made headlines by declaring his commitment to pushing forward with autonomy in the company, stating he was going “balls to the wall” on the initiative. However, the week ended on a less positive note with a recall of the Cybertruck due to faulty accelerator pedals.

But the news doesn’t stop at Tesla. In Washington, D.C., federal regulators are reportedly close to publishing a Notice of Proposed Rulemaking on autonomous vehicle regulations. This would mark a significant step in establishing federal guidelines for the industry, with the Federal Motor Carrier Safety Administration expected to release a proposal by the summer or fall.

Meanwhile, Serve Robotics, a sidewalk robot delivery company backed by Nvidia and Uber, made its public market debut this week through a reverse merger. The company aims to expand its fleet from 100 robots in Los Angeles to 2,000 robots across multiple U.S. cities by 2025, with plans to generate between $60 million and $80 million in annual revenue by that same deadline.

In the world of electric vehicles, General Motors launched a home EV charger and vehicle-to-home kit, while Waymo began data collection and mapping in Atlanta for its autonomous vehicle services. With ups and downs in the industry, including Tesla’s challenges and successes, the future of transportation continues to evolve rapidly. Stay tuned for more updates in the coming weeks.