The Station: Polestar 2 drive, Tesla splits and a chat with Motional’s Karl Iagnemma

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Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B.

Let’s get right to it today.

Friendly reminder that you can reach out and email me anytime at kirsten.korosec@techcrunch.com to share thoughts, criticisms, offer up opinions or tips. You can also send a direct message to me at Twitter — @kirstenkorosec.

European micromobility company Wind has introduced a new electric scooter with an integrated helmet. These new scooters, known as Wind 3.0, are now part of the company’s fleet ahead of its participation in the UK e-scooter trial program.

The helmets and the scooters are cleaned daily, the company said. Still, Wind advises users to wipe the attached helmet before putting it on.

To use the helmet, users scan and unlock the scooter with the app and choose the “unlock helmet” function. The helmet is released by lifting up the helmet case. Once users are done with the scooter, they take a photo using the app to confirm that the device is locked and the helmet has been returned.

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The Wind 3.0 has other new features aimed at making it safer and robust, including double handbrakes, electric front and rear brakes, a non-slip platform, or larger and wider foam tires that cannot burst.

Other micromobbin’ news that got my attention …

Bird added a new feature that allows account holders to add four more riders even if these folks don’t have the Bird app. The idea is to make it easier for a group of friends to rent a few Bird scooters even if only one of them has an account. It’s a handy feature but I wonder how Bird prevents misuse and handles liability?

Jump bikes continue to pop up under the Lime app — this time in Berlin. Jump’s bright red bikes and scooters had disappeared from city streets after Uber unloaded the micromobility company to Lime as part of a complex $170 million fundraising round. When the Jump bikes were finally spotted it was in a recycling yard, where more than 20,000 of them laid in piles, awaiting their demise.

New, unused Jump bikes were tucked away in storage. Lime has been adding these Jump bikes to cities like Denver, London, Paris, Rochester, Minn., Seattle and Washington, D.C. Lime also started integrating Jump bikes onto its own app; users previously had to go to the Uber app to use the Jump bikes that Lime brought back to certain cities.

More Jump bikes should be expected. We hear the next city will be Munich.

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ScootRoute, a navigation app designed for scooter and ebike users, is now available in all 50 states. ScootRoute, founded by Meghan Braley, is a voice-activated navigation app that combines three different mapping technologies to accommodate the nuances of micromobility travel. Riders can personalize the app based on their preferences such as incline tolerances, traffic, top speed and road type. The free app is available on Android and iOS.

Deal of the week

money the station

It was a bit of a quiet week for mobility — at least on the deal-making sides of things. One item that stood out was Tesla’s 5 for 1 stock split. A little back of the envelope arithmetic would value Tesla shares around $297 after the split.

My, how far the company’s share price has come in two years? You might recall that two years ago CEO Elon Musk infamously tweeted that he had “funding secured” and was considering taking Tesla private at $420 a share.

Tesla then published an email Musk had sent to employees that described his rationale, only to backtrack a few weeks later and announce the company would remain public. This, of course, got the attention of the U.S. Securities and Exchange Commission, which later accused Musk of securities fraud. The parties reached a settlement without admitting wrongdoing. Under the settlement, Tesla agreed to add two independent directors and Musk would step down as chairman for three years.

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Tesla shares reached a 52-week low of $211 in August 2019. The stock has risen 650% since then, pushing share prices north of $1,650. Tesla now has a market cap of more than $300 billion, making it one of the world’s most valuable companies.

A chat with Karl Iagnemma

Hyundai Motor Group and Aptiv PLC announced in September 2019 it was forming a joint venture to develop Level 4 production-ready self-driving systems intended for commercialization. For the past year, the joint venture has been referred to as the Hyundai-Aptiv joint venture. It wasn’t exactly catchy.

Welp, this week the venture unveiled its official name and brand identity: Motional. I’m not one to cover new brand names, and so I didn’t. But I did chat with Karl Iagnemma, who is the president and CEO of Motional and has a long history in the world of automated vehicle technology.

Here are a few interesting items that came up in our conversation. First, a quick reminder that the joint venture involved Aptiv contributing the team and technology and Hyundai providing $1.6 billion in cash and $400 million in engineering services. Motional said it will begin testing fully driverless systems in 2020 with the technology becoming available for robotaxi providers and fleet operators in 2022.

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The company also released a survey that found nearly one in five (19%) Americans are more interested in self-driving vehicles now than they were before the pandemic, and the majority of Americans (60%) are reconsidering their transportation choices to accommodate social distancing. More than 70% of respondents admitted that the risk of infection is a real concern impacting their transportation decisions, and more than three in four (76%) said their concerns around the safety of public spaces has increased as well.

OK, onto Iagnemma.

On the survey results …. “I do think driverless, on its surface, I view it as a big benefit in terms of safety and I think our survey data shows that a lot of people feel the same way. The sharing I think is an open question, but something that we can address in the medium term.”

On the technology stack (remember Aptiv, formerly Delphi acquired Carnegie Mellon University spinoff Ottomatika and Iagnemma’s company nuTonomy) … “The Motional technology has all come together in our next generation platform which we call Gen One, which is a new system. It’s currently being tested on the road, in a number of cities. I don’t think you’ve seen it.

It’s been a couple years since the acquisition. Certainly, there’s elements of the nuTonomy code base, elements of the Ottomatika code base. But what we did is kind of took the best of everything we had, integrated together and obviously added a lot. There’s been a lot that’s just been built new, and have focused much more on the safety system. The state-of-the art system that we’re testing is called Gen One.”

More on the stack … “I would just characterize it as definitely a combination, where we’ve drawn on the best elements of both code code bases, and fully integrated, and we built quite a bit on top. A lot of the focus over the past 18 months has been on safety and industrialization. So, better more testable code and safety systems. These are the systems that are going to ensure that when we have a driverless product that it’s still a safe product.”

On what is required to succeed as an AV company … “I think you need three key elements to be successful today, which I believe that the JV (joint venture) has in spades. You need the software development capability, the OEM relationship, which I think has generally been recognized now as essential, and then the access to capital of a billion dollars plus, which is kind of the price of an entry ticket.”

What makes Motional unique … “Our DNA is OEM, and it’s also Tier one. I mean I don’t know of any other entity in the industry that has that expertise — the drawing from Tier one. You know Tier ones actually develop and integrate and validate the core technology. Many people think OEMs do that but they actually don’t, it’s the Tier ones of the world that go off and do that.”

“Also, many of our competitors are focused on North America, and North America is a great market. But our footprint is North America and Asia such as Singapore and Seoul, which is growing quickly. And I think that flexibility is going to be very valuable for us when we think about going to market.”

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