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Recent developments indicate significant changes in U.S. tariff policies. There is currently a 90-day suspension on “reciprocal” tariffs for most countries; however, a base tariff of 10% remains in place. Additionally, tariffs on Chinese imports have been significantly increased to approximately 145% by President Trump.
Dan Ives, an analyst at Wedbush Securities, has adjusted his price targets for Apple and Tesla due to the potential impact of these tariffs on their operations. Other U.S. companies are also expected to be affected and may have to consider whether to pass on these costs to consumers. While the transportation sector has found some relief due to the pause on tariffs for Mexican and Canadian goods, it still faces exposure, particularly those using lithium iron phosphate (LFP) batteries imported from China.
TechCrunch will continue to closely monitor the evolving situation with tariffs, acknowledging that the implications may not become apparent for several months.
In related news, TechCrunch reports on the previously undisclosed electric vehicle startup, Slate Auto, supported by notable backers such as Jeff Bezos, Mark Walter of Guggenheim Partners, and Thomas Tull of Re:Build Manufacturing. Senior reporter Sean O’Kane has detailed Slate Auto’s origins, business model, and its upcoming electric pickup truck. The report also includes a spy shot of this vehicle.
In a recent development, Lucid Motors successfully acquired several assets from Nikola during bankruptcy proceedings. Former Nikola CEO Trevor Milton, recently pardoned for securities fraud, had shown interest in the assets but was unsuccessful in his bid. Lucid Motors prevailed with a commitment of around $30 million in cash and non-cash considerations, gaining the Arizona factory, Nikola’s Phoenix headquarters lease, and various equipment.
Additional noteworthy deals include Ayan Capital raising £25 million ($32.6 million) in Sharia-compliant financing, Nowos securing €6 million for lithium-ion battery repair, Nuro raising $106 million in a Series E round, and Parallel Systems obtaining $38 million to develop autonomous electric freight technology.
Additional industry tidbits highlight developments in advanced driver-assistance systems and autonomous vehicles. Nissan anticipates incorporating Wayve’s automated driving software by 2027. Waymo plans to leverage its robotaxi data to train generative AI models, while its vehicle unexpectedly caused a traffic disruption at a Chick-fil-A drive-through. Zoox is deploying test vehicles on Los Angeles streets.
In the realm of electric vehicles, Canoo CEO Anthony Aquila has received judicial approval to purchase assets from a bankrupt EV startup, and Elon Musk’s political actions have reportedly influenced Tesla’s sales, with a noticeable increase in used Tesla listings. In contrast, brands like Polestar have seen a rise in sales, partly due to strategic discounts.
