Waymo has announced plans to test its self-driving cars in New York City, marking a significant step in expanding its robotaxi operations. The company has applied for a permit from the NYC Department of Transportation to operate vehicles autonomously, though initially with a human specialist behind the wheel. This move is part of Waymo’s broader strategy to launch a fully autonomous ride-hailing service in the city eventually. However, current New York state laws prohibit fully driverless vehicles, requiring a human operator to be present at all times. Waymo’s entry into NYC is significant, as no other autonomous vehicle company has yet applied for such testing in the city. The company has already established operations in cities such as San Francisco, Phoenix, Los Angeles, and Austin, and is eyeing Atlanta and Miami next. NYC Mayor Eric Adams has expressed cautious support, emphasising public safety and strict regulatory oversight. Waymo’s expansion comes amid growing interest in autonomous mobility, especially as competitors like Tesla prepare limited robotaxi launches. The company’s NYC initiative follows a 50% expansion of its service area in California and reflects its ambition to lead in the increasingly competitive self-driving space**.**
CATL has unveiled its (comprehensive) global decarbonization strategy aimed at accelerating the transition to a zero-carbon economy. Speaking at the Belt and Road Conference on Science and Technology Exchange, CATL Chairman and CEO Dr. Robin Zeng emphasised the company’s commitment to open collaboration, innovation, and shared technological advancement. The strategy focuses on 3 key pillars: green manufacturing, global partnerships, and technological openness. CATL is actively working to decarbonise its entire value chain, ranging from raw material sourcing to battery production and recycling. The company has already achieved carbon neutrality in its core operations and is pushing for similar standards across its supply chain. It is also investing in renewable energy integration and energy storage solutions to support broader grid decarbonisation. A central theme of CATL’s approach is collaboration. The company is forming strategic alliances with global partners, including automakers and energy firms, to co-develop sustainable technologies and accelerate EV adoption. Additionally, CATL is promoting open-source innovation by sharing key technologies and best practices to foster industry-wide progress. Dr. Zeng highlighted the importance of global cooperation in tackling climate change, stating that decarbonisation is a shared responsibility. CATL’s strategy not only reinforces its leadership in battery innovation but also positions it as a catalyst for global sustainability efforts. Through its integrated approach, CATL aims to drive systemic change across industries and regions, contributing materially to the global net-zero agenda.
Arriva has announced it has invested £9.7m in a fleet of 30 new MCV Evora-bodied Volvo B8RLE buses for its Luton Busway network, marking a significant upgrade to public transport services in the region. The new buses will serve key areas including Dunstable, Houghton Regis, Luton, and Luton Airport, and are designed to enhance the passenger experience with features tailored for both commuters and air travellers. This investment follows recent service improvements introduced on June 1st and builds on previous deployments of similar vehicles in Bedfordshire, Buckinghamshire, and other parts of England and Wales. The new fleet is part of Arriva’s broader commitment to delivering more reliable, frequent, and accessible bus services. The buses will operate around the clock on some routes, offering improved connectivity and direct links to the segregated busway and the airport. Arriva emphasised that the initiative is about raising public transport standards and encouraging a shift from car use to more sustainable travel. The investment reflects a strategic focus on modernising regional transit infrastructure and promoting greener mobility solutions.
Industry reaction to the UK government’s updated industrial strategy has been positive and subsequently boosted investor confidence in clean energy, particularly hydrogen, by pledging to double annual investment to over £30bn by 2035. Hydrogen is positioned as a key export and industrial opportunity, with potential export revenues from carbon capture-enabled and electrolytic hydrogen equipment projected to reach £800m to £2.2bn by 2030, and up to £9.8bn by 2050. However, despite this strong financial signal(s), the strategy lacks a clear deployment roadmap or demand-side support, leaving uncertainty around how hydrogen will be scaled and integrated into the energy system. Key funding will come from the £27.8bn National Wealth Fund and the £25.6bn British Business Bank, with an additional £1bn allocated to the clean energy supply chain via GB Energy. Hydrogen projects could secure a share of £5.8bn for high-cost infrastructure alongside carbon capture, gigafactories, ports, and green steel. While the strategy outlines ambitious goals and funding mechanisms, industry stakeholders remain concerned about the absence of detailed implementation plans, particularly regarding infrastructure, regulation, and market incentives. This gap could hinder the UK’s ability to fully capitalise on hydrogen’s potential as a cornerstone of its clean energy transition.
Tesla has announced it has signed a $557m deal to build its first grid-scale battery storage station in Shanghai, marking a major expansion of its energy division in China. The agreement, involving China Kangfu International Leasing Co. and Shanghai’s local government, follows the February 2025 launch of Tesla’s battery megafactory in the city. The new facility will use Tesla’s Megapack batteries, designed for large-scale energy storage to support grid reliability and renewable energy integration. This investment underscores Tesla’s strategic push into the energy storage sector, complementing its EV business. The project is expected to boost local employment, attract regional investment, and strengthen Tesla’s operational presence in China, which is a critical market for both EVs and clean energy solutions. It also aligns with China’s broader goals of reducing fossil fuel dependence and enhancing renewable energy infrastructure. Overall, the Shanghai Megapack project strategically positions Tesla as a (potential) leader in global energy storage, reinforcing its commitment to sustainability and expanding its influence in one of the world’s most dynamic clean energy markets.
Deals
PhysicsX, a London-based AI startup, has raised $135m as part of its Series B financing that values the company at nearly $1bn. Backed by investors such as Siemens, Temasek, Atomico, and Applied Materials, PhysicsX is capitalising on a surge in defence technology investment driven by global geopolitical tensions. The company utilises AI to optimise product design in sectors such as manufacturing and defence, including components for engines and drones. The startup highlighted growing demand across aerospace, automotive, and materials industries, reflecting a broader push for reindustrialisation in Europe and the West. With over 150 employees in London and New York, the company has secured deals with major companies such as Rio Tinto and Leonardo Aerospace. PhysicsX emphasised the strategic importance of remaining headquartered in Europe, aiming to transform engineering practices amid rising R&D investment.
Peach Cars, a Tokyo-based startup, has raised $11m in a Series A funding round to enhance trust and transparency in Africa’s used car market. This round was led by Suzuki Global Ventures, with Japan Bank for International Cooperation, Gogin Capital, and University of Tokyo Edge Capital Partners also participating. The startup intends to scale its operations across East Africa and aims to address widespread issues such as hidden costs, unreliable vehicle histories, and a lack of buyer confidence. Peach Cars offers a digital platform that streamlines the car-buying process by providing verified vehicle information, financing options, and end-to-end transaction support. With this capital, Peach Cars plans to expand its operations across Kenya and into other African markets, while also investing in technology and talent. The startup’s mission is to create a more trustworthy and efficient used car ecosystem, ultimately empowering consumers and dealers alike.
umob, a Dutch Mobility-as-a-Service startup, has raised €3.5m to expand its all-in-one mobility booking platform across Europe. umob integrates various transport services, such as public transit, taxis, shared scooters, bikes, and cars, into a single app. The platform aims to reduce urban congestion, emissions, and car dependency by offering a seamless alternative to vehicle ownership. This funding follows a €6m round in 2023 and the acquisition of MaaS Global, creator of the Whim app. With operations already in 11 countries, umob plans to scale further, targeting both consumers and businesses. The startup positions itself as a strategic partner for cities and mobility providers, addressing urban challenges like limited space and sustainability goals.
Applied Intuition, a Silicon Valley-based startup specialising in autonomous vehicle software, has raised $600m in Series F funding, pushing its valuation to $15bn. The round was led by BlackRock and Kleiner Perkins, with participation from investors including Franklin Templeton, Qatar Investment Authority, and Fidelity. The funding includes $200m in primary capital and $400m in secondary shares. Applied Intuition develops simulation and synthetic data tools that help self-driving systems prepare for rare and unpredictable scenarios which are difficult to encounter in real-world testing. This capability is crucial as the autonomous vehicle industry accelerates, with companies such as Waymo and Tesla advancing deployments. Interestingly, the new valuation more than doubles the company’s worth from early 2024, reflecting growing investor confidence in the sector.
Motive, an AI-powered fleet operations platform, has acquired InceptEV, a Carnegie Mellon University spinout specialising in advanced battery intelligence and ML for EVs. This strategic acquisition aims to enhance Motive’s capabilities in helping commercial fleets transition to EVs more efficiently and cost-effectively. InceptEV’s patented technology enables precise forecasting of EV performance based on real-world variables such as terrain, weather, traffic, cargo, and driver behaviour, addressing common challenges such as range anxiety and inaccurate planning. The integration will allow Motive to offer smarter, data-driven insights into EV performance, helping fleet operators make better investment decisions and reduce operational costs. New tools, including Energy Usage and EV Charging Reports, are set to launch later this year, offering side-by-side vehicle comparisons and deeper analytics. These features will also help support compliance with regulations like California’s CARB Clean Truck Check program. This move positions Motive as a leader in the evolving EV fleet management landscape.