In other news, Ghost Autonomy, a company that had raised over $220 million and recently partnered with OpenAI, has closed down. About 100 people were affected by the closure. The company had completed a highway driving product and was moving in urban environments through what the CEO described as “last-mile delivery.” However, the years required to bring the product to market could not be financed. Meanwhile, Maniv, an Israel and NYC-based VC firm, raised a $140 million fund with plans to back startups at the intersection between mobility, transportation, and energy.
Key takeaways:
- According to a survey by Edmunds, there is a significant gap between the price consumers are willing to pay for electric vehicles (EVs) and the actual market price. 47% of respondents are looking for an EV under $40,000, and 22% under $30,000, but there are currently no new EVs priced below $30,000 and only four below $40,000.
- The high price of EVs is causing difficulties for automakers, with some, like Ford, delaying future EV launches and focusing more on hybrids. Tesla, despite being a leader in the EV market, also fell below analysts' expectations with a 20% drop in deliveries from Q4 2023.
- Tesla's solution to the pricing issue appears to be to reduce prices again and try to generate revenue through sales of its Full Self-Driving software, which costs $12,000 and is currently being offered in a free one-month trial to all customers.
- Ghost Autonomy, an autonomous vehicle company that had raised over $220 million and recently partnered with OpenAI, has closed down. The company had completed a highway driving product and was working on urban environments, but the time required to bring the product to market could not be financed.