AAA estimates 45.1 million Americans will travel 50 miles or more this Memorial Day weekend. Roughly 39.4 million of those will hit the road. Expect heavy traffic from Thursday to Monday.
Luminar is scrambling for cash. The lidar startup is striking a deal with Yorkville Advisors Global, potentially leading to $200 million through convertible preferred stock sales over 18 months. They’ll issue an initial $35 million, with more possible every 60 days at a discounted price.
The company is in turmoil after recently replacing CEO Austin Russell and undergoing a restructuring for the third time this year. 
SparkCharge, specializing in “charging-as-a-service” for fleets, secured $15.5 million in a Series A-1 round and an additional $15 million in venture loans.
Sylndr, a Cairo-based used car startup, raised $15.7 million and nearly $10 million in debt financing from local banks.
Nikola is auctioning off hydrogen trucks valued at around $114 million, a final step in liquidating assets post-bankruptcy.
Notable Updates
Aurora placed human “observers” in its self-driving trucks, a move that raised eyebrows. These observers aren’t safety operators and can’t intervene, per the company.
Einride founder Robert Falck has stepped down as CEO; CFO Roozbeh Charli is taking over.
Reliable Robotics appointed former Apple VP Marc Stoll as CFO.
Zoox will start testing self-driving vehicles in Atlanta later this summer.
The California Public Utilities Commission approved Waymo’s expansion of its commercial robotaxi service. Additionally, Waymo and Uber plan to begin robotaxi rides in Atlanta for select waitlisted customers.
Tesla is limiting its Austin robotaxi operations to areas deemed “safest,” a shift from earlier claims about universal self-driving capabilities.
Gig Economy Moves
Uber is launching a B2B logistics service in India, aiming to compete with Flipkart.
Uber Freight rolled out AI features to enhance its existing supply chain software, including over 30 AI agents to streamline logistics tasks.
This Week’s Wheels
Heybike Alpha is back! It’s a $1,699 all-terrain e-bike. Review highlights: solid mid-drive motor and long-lasting battery. However, assembly and app usability received mixed reviews. Great for both off-road and city commutes.
Full review available here.
