TechCrunch Mobility: Lyft buys its way into Europe, Kodiak SPACs, and how China’s new ADAS rules might affect Tesla

Summary

Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! Enough with my typical small talk. Let’s jump into the news right away this week. And there’s plenty of it, including Lyft’s entry into Europe, AV startup Nuro heading to Japan, the first drive of the Lucid Gravity SUV, a few New York International Auto Show highlights, and a SPAC. Yes, the SPAC is back. Or did this financial instrument really ever fade away? Let’s go. A little bird Image Credits:Bryce Durbin A little bird told us that some people are hoping to get ahead of the many, many hurdles eVTOLs need to jump before there can be “highways in the skies.” This includes working with real estate owners in rural areas to set up vertiports and charging infrastructure. The pitch? Adding that infrastructure has the potential to increase your property value in the future. We’re digging into this to find out more! Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or my Signal at kkorosec.07, Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com. Or check out these instructions to learn how to contact us via encrypted messaging apps or SecureDrop. Deals! Image Credits:Bryce Durbin I expected a few more IPOs in 2025 than the prior year, but SPACs? Say it ain’t so. And yet, here we are with a fresh merger between autonomous vehicle technology startup Kodiak Robotics and special purpose acquisition company Ares Acquisition Corporation II. The transaction values Kodiak, which has raised around $243 million to date, at about $2.5 billion pre-money. New and existing Kodiak institutional investors, like Soros Fund Management, ARK Investments, and Ares, have funded or committed over $110 million in financing to support the transaction, as well as about $551 million of cash held in trust. I spoke to Kodiak founder and CEO Don Burnette and asked the obvio...