The year in transportation began with the bankruptcies of Canoo and Nikola, and now it is ending with two more. Rad Power Bikes has filed for Chapter 11 bankruptcy protection. The electric bike company warned employees it could shut down without new funding weeks prior. A spokesperson stated the company will continue to operate during the bankruptcy process and is seeking to sell the business within 45 to 60 days.
Troubled lidar maker Luminar also filed for bankruptcy. This filing follows months of layoffs, executive departures, and a legal fight with its largest customer, Volvo. The company plans to sell off the business and has already reached a deal to sell its semiconductor subsidiary. While operations will continue during the bankruptcy to minimize disruptions, Luminar will eventually cease to exist once the process is complete.
Even though the year was bookended by failures, 2025 was still filled with innovation and growth. The emerging robotaxi industry has indeed emerged, with new kinds of autonomous vehicle-adjacent companies popping up, a trend expected to continue into 2026. The scale of robotaxis was largely driven by Waymo’s fast-paced growth, although Zoox and Tesla have also started to set up shop. The coming year could see these companies squaring off in the same markets and facing greater scrutiny over safety and integration into daily life.
Meanwhile, electric vehicles have had their struggles this year as automakers adjust. For instance, Ford is pivoting yet again. The company is ending production of the fully-electric F-150 Lightning as part of a broader shake-up emphasizing hybrids and gas-powered vehicles. Ford is turning to an extended range electric version of the truck, which uses a gas generator to recharge the battery. It is also starting a battery storage business and remains committed to producing a midsized electric truck for 2027.
But the EV is not dead. The promise of smaller, more affordable models looms with the imminent launch of Rivian’s R2 and Slate Auto’s electric truck.
In other news, Spinny, the Indian online marketplace for used cars, is raising around $160 million. The funds will be used to acquire car services startup GoMechanic. This Series G round will value the ten-year-old startup at about $1.8 billion.
Boatsetter and GetMyBoat, two companies with Airbnb-type models for boats, have agreed to merge. E-bike startup Cowboy has been acquired by ReBirth Group Holding, a company that owns Gitane, Peugeot, and Solex. The terms were not disclosed, but the deal includes funding from existing shareholders.
Nirvana Insurance, an insurance tech startup focused on trucking, raised $100 million in a Series D funding round. Its new valuation is $1.5 billion.
Redwood Materials launched a newly patented Battery Collection Bin designed to encourage consumers to recycle batteries. The system will launch in San Francisco.
Rivian has added a branded hands-free driving feature via a software update to its second-generation R1 electric vehicles. This upgrade allows drivers to take their hands off the wheel on millions of miles of roads in the U.S. and Canada.
Slate Auto, the electric truck startup backed by Jeff Bezos, has collected more than 150,000 refundable reservations for its low-cost EV due out at the end of 2026.
There is chatter about Sterling Anderson taking over as CEO of GM once Mary Barra retires. Anderson has been at GM for six months and faces significant tasks ahead.
Tesla has pulled human safety monitors from its robotaxis in Austin, a milestone for its limited fleet. However, the company has not applied for a driverless testing permit in California, where it only holds a permit to test with a human safety operator.
Meanwhile, in California, an administrative law judge ruled Tesla engaged in deceptive marketing that gave customers a false impression of its Autopilot and Full Self-Driving software. The judge agreed with the Department of Motor Vehicles that Tesla’s sales and manufacturing licenses should be suspended for 30 days. The DMV has stayed the order, giving Tesla 60 days to comply by either dropping the Autopilot name or shipping software that makes its cars autonomous.
This is the last newsletter of the year. The next update will come from the CES trade show in Las Vegas. Thank you for reading, participating, and sharing your feedback.