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The transportation industry’s year started with two bankruptcies, Canoo and Nikola, and now it’s coming to an end with two more. Rad Power Bikes is coming to an end, or at least nearing bankruptcy. An electric bike company has filed for Chapter 11 bankruptcy protection, weeks after warning employees it could go out of business without new funding. A spokesperson told TechCrunch that the company will continue to operate while the bankruptcy case progresses and plans to sell the business within 45 to 60 days.
And troubled lidar maker Luminar filed for bankruptcy this week. Luminar’s bankruptcy doesn’t seem like a “let’s just survive today” type of situation.
Luminar’s filing, filed after months of layoffs, executive departures and a legal battle with its biggest customer Volvo, says the company plans to sell the business. An agreement has already been reached to sell the semiconductor subsidiary. The company will remain open during the bankruptcy process to “minimize disruption” to suppliers and customers, but Luminar will ultimately cease to exist once the bankruptcy process is complete, senior reporter Sean O’Kane reported. Want to know more? We recommend reading O’Kane’s article that examines how the disastrous Volvo deal with Luminar drove the company into bankruptcy.
Even if the year was marked by some setbacks, that doesn’t mean 2025 wasn’t full of innovation and growth. The emerging robotaxis industry is certainly on the rise. Along with that, I’m seeing a new breed of self-driving car-adjacent companies emerging, and I expect that to become a trend in 2026.
The scale of robotaxis has been driven primarily by Waymo’s rapid growth, but Zoox and Tesla are also starting to set up shop. Next year could be the year these companies seriously compete for the same market. This year will also be the year that companies face even more scrutiny over safety and how robotaxis fit into everyday life.
Meanwhile, EVs have struggled this year, and automakers are struggling to adjust.
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Ford, for example, is pivoting again. The company announced this week that it will end production of the all-electric F-150 Lightning as part of a broader company-wide shakeup to focus on hybrid and gas-powered vehicles. As part of the shift, Ford is turning to “extended range electric vehicle” versions of its increasingly popular trucks, adding a gas generator to recharge the battery pack and power the motor for more than 700 miles. The company is also getting into the energy storage business and will have to do something with those batteries, but says it remains committed to producing a medium-duty electric truck that will be released in 2027.
But hey, EVs aren’t dead. And with the impending launch of Rivian’s R2 and Slate Auto electric trucks, the possibility of smaller, more affordable trucks is on the horizon.
Housekeeping Note: This is the last newsletter of the year. The next time you hear from me, I’ll be in Las Vegas attending the annual technology trade show known as CES. Are you going? Please extend your hand.
Thank you everyone for reading, voting, and sending emails (yes, even the critical ones). Your voice matters and we love hearing from you. See you in 2026!
small bird
India-based reporter Jagmeet Singh always seems to have birds chirping in his ears when it comes to startup deals. The latest one is Spinny, an online used car marketplace in India.
Spinny has raised about $160 million, which will be used to acquire auto services startup GoMechanic. TechCrunch has learned that the Series G round includes a mix of primary and secondary deals, valuing the 10-year-old startup at about $1.8 billion post-money.
Have a tip? Email Kirsten Korosec at kirsten.Korosec@techcrunch.com, email my Signal at korosec.07, or email Sean O’Kane at sean.okane@techcrunch.com.
Great deal!
Boatsetter and GetMyBoat, two companies operating an Airbnb-type business model for boats, have agreed to merge.
The cowboy is back–sort of. The Brussels electric bike startup has been acquired by ReBirth Group Holding, which owns Gitane, Peugeot and Solex. The e-bike startup had its moments of excitement, but eventually ran into problems, including a frame recall. Terms were not disclosed, but it appears to include 15 million euros ($17.6 million) from existing shareholders.
Nirvana Insurance, a trucking-focused insurance technology startup, has raised $100 million in a Series D funding round led by Valor Equity Partners. Lightspeed and General Catalyst also participated. Former TC reporter Mary Ann Azevedo has the scoop on the new valuation, which is now $1.5 billion.
Notable reads and other trivia
Redwood has launched a newly patented battery collection box designed to encourage consumers to recycle batteries. The system, launched in San Francisco, will securely store, pack and monitor hundreds of batteries and devices with built-in batteries.
Rivian added its own brand of “universal hands-free” driving via a software update to the second-generation R1 EV (although, by the way, I’m not sure I’m a fan of the term “universal hands-free”). This upgrade allows drivers to take their hands off the wheel on 3.5 million miles of roads in the U.S. and Canada (as long as there are visible paint lines). And in case you missed it over the weekend, senior reporter Sean O’Kane took us through Rivian’s bet on AI-powered self-driving.
Securing America’s Future Energy has a new CEO. Avery Ash, SAFE’s senior vice president of government affairs and special initiatives, will be the organization’s next CEO.
Slate Auto, the electric truck startup backed by Jeff Bezos, announced it has received more than 150,000 refundable reservations for its low-cost electric vehicle, which is scheduled to go on sale in late 2026.
It’s been six months since Sterling Anderson took over as GM, and there are already rumors that he could take over as CEO once Mary Barra steps down. My take: Anderson has a big job ahead of him, so let’s all take a breather before assuming he takes the top job. GM President Mark Reuss will also be in attendance.
Tesla has removed human safety monitors from its robotaxis in Austin. Robotaxis services are limited to a few dozen vehicles. Still, it’s a milestone. And in case you were wondering, the California Department of Transportation told me this week that Tesla has not applied for a driverless test permit. The company only has permission to test self-driving car technology with a human safety operator behind the wheel.
Meanwhile, Tesla faces a difficult situation in California. Here’s the gist: An administrative law judge agreed with a lawsuit brought by the California Department of Surface Transportation, ruling that Tesla engaged in deceptive marketing that gave customers a false impression of the capabilities of Autopilot and fully self-driving driver assistance software. The DMV asked for a 30-day suspension of Tesla’s sales and manufacturing license in the state as a penalty for that action, and a judge agreed.
Oh, but wait. The DMV has put the order on hold, giving Tesla 60 days to comply. This would give Tesla two options if it wanted to keep these licenses: remove the Autopilot name or put software in its vehicles that would make them self-driving.
One more thing…
For those of you who don’t know, I’m also the co-host of Equity, TechCrunch’s podcast about the business of startups. I typically co-host the Friday show, which provides commentary and analysis on the week’s news.
I sometimes interview founders and venture capitalists on my Wednesday show. My latest is an interview with Jiten Behl, partner at Eclipse Ventures and former chief growth officer at Rivian. He believes that the United States is in the midst of a period of massive re-industrialization. We are living in an era where factories are run not by cheap overseas labor but by AI-powered robots. Check out the episode here.
