Mobility investments dwindle | Volvo's sunny trucking forecast | Vehicle bloat concerns | Trump attacks EVs

Both the number and value of venture capital deals in mobility technology are falling, though the downward slope appears to be leveling off, according to a PitchBook analysis.

The number of second-quarter VC deals in mobility tech dropped 1.7 percent from the previous three months to 234 deals. The value of those deals declined 11 percent to $4.2 billion.

The prior quarter saw sharper decreases of 15 percent in the number of deals and a nearly 60 percent drop in the value of those deals.

Year over year, the number of deals in the second quarter declined by 33 percent, and the value of those deals declined 64 percent.

"VC activity in the mobility tech vertical leveled out" in the second quarter after "substantial" declines earlier in the year, the report said.

The analysis captures a key moment for the mobility industry. The cash influx of the pandemic boom times has slowed, but an anticipated recession has yet to materialize. Government interventions such as the Inflation Reduction Act have powered continued interest in the mobility sector.

Read the full story here.

— Molly Boigon
 

Volvo sees a $42 billion market in U.S. Sun Belt for autonomous trucking: Volvo Group plans its own freight-hauling business across the Southern tier of the U.S.

Lidar companies find risks and opportunities as automakers solidify deals: Money is tight, legal land mines abound and lidar companies are under pressure to slash prices while scaling production — or risk a competitor doing it first.

China will become the worldwide leader in automated driving: A forecast from S&P Global Mobility suggests Chinese companies will deliver both driver-assist systems and robotaxis faster than other regions.

In a labor defeat, California Gov. Gavin Newsom vetoes a bill that would have required human oversight in self-driving trucks.

Mercedes-Benz plans to launch Level 3 automated driving technology in the fourth quarter. Drive Pilot will be offered as an annual subscription, priced at $2,500 in the first year.

Hyundai is giving buyers who purchase or lease a new EV through its captive finance arm a free ChargePoint Level 2 home charger valued at $549 and a credit of $600 toward installation.

Tesla trial over Autopilot fatality kicks off in California. Opening statements were set for Thursday.

Republican lawmakers demand documents on Ford's battery partnership with CATL, threaten to call CEO Jim Farley to testify before Congress.

On the move

Self-driving tech company Motional, a joint venture between Hyundai and Aptiv, appointed Sehyuk Park as its chief strategy officer. He was vice president and vehicle project manager at Hyundai Motor Group.

He'll work with Motional's engineering and commercial teams and lead business planning and product strategies, including development of the company's next generation of autonomous vehicles.

Brain food

Confused by the differences in the various levels of automated driving? Here's your handy explainer to demystify the SAE Levels of Driving Automation and lay out what constitutes an assistance feature and what is full-fledged self-driving technology.

Last mile

Former President Donald Trump on Wednesday told supporters at a rally near Detroit that electric vehicles would "spell the death of the U.S. auto industry" because they cost too much and consumers don't want them.