Additionally, the article highlights other transportation news, such as Hyundai's urban air mobility startup Supernal relocating its headquarters, and investment activities in the future-of-flight sector with companies like Archer Aviation and Joby Aviation. It also covers various developments in electric vehicles, autonomous vehicles, and other transportation technologies, including Amazon's entry into online car sales and Uber's regulatory challenges in California.
Key takeaways:
- GM has decided to stop funding its self-driving car subsidiary, Cruise, following a series of setbacks, including a pedestrian incident and regulatory challenges.
- Hyundai's urban air mobility startup, Supernal, is relocating its global headquarters from Washington, D.C., to Irvine, affecting a significant portion of its workforce in Washington.
- Archer Aviation and Joby Aviation are actively raising funds through SPACs and public offerings to support their future-of-flight initiatives, including defense applications and commercial launches.
- Amazon has launched Amazon Autos, an e-commerce platform for buying new vehicles, expanding its reach into the online car sales market.