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Inside Automotive (Jul 9th, 2018)

1. Uber will invest in Lime, along with offering scooters through the Uber app. The ride-hailing company will be a part of Lime’s Series C funding round, where it will be raising $335 million. The deal, led by Alphabet’s venture arm GV, will value Lime at $1.1 billion. Uber plans on offering Lime’s scooters to users in its app, while also offering promoting Lime on its mobile app and integrating the Uber logo on some of its scooters. This comes after Uber acquired bike sharing company JUMP Bikes and appointed Rachel Holt as its head of new modalities, looking into how to expand Uber’s footprint beyond ride-hailing. Holt told Bloomberg that Uber was drawn to Lime because of its footprint in major cities, but doesn’t preclude Uber from entering the scooter business on its own. Uber applied for its own license to operate scooters in San Francisco, through its JUMP Bikes division.— BLOOMBERG 

2. Tweets about the Uber-Lime deal. 

“This is the “Amazon for transportation” thing Uber CEO has talked about. Company will have a piece of many transport transactions even those that don’t happen on the app. Think Google maps but if Google owned all of or a cut of every part of a trip.” — @JMBooyah 

“Uber strikes scooter deal w/ Lime: 1. Lime took $$ from GV & Alphabet, so it's another case of Uber indirectly partnering w/ the co that sued it. 2. Uber & Lime are competing for the 5 scooter licenses in SF. 3. Got to wonder if this is prelude to M&A, like Uber's deal w/ Jump” — @danprimack 

“The long-expected bike share mergers & acquisitions game is in full swing. Here's a 1st pass at the current teams. Guesses on who/what are next? Team 1 - Uber, Jump, Lime, Alphabet GV Team 2- Lyft, Motivate Team 3 - Didi Chuxing, ofo Undeclared - Spin, Mobike, Bird” — @kfillinyeh

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3. Lyft may be working on a deal to acquire transportation company Cabify. Cabify operates ride-hailing services in largely Spanish and Portuguese-speaking countries, including Spain, Mexico, Brazil, among others, while Lyft operates ride-hailing services in the United States and limited regions of Canada. The potential deal was first discovered by Spanish newspaper El Confidencial, with a reported purchase price of $3 billion. If so, the deal would mark Lyft’s largest international push to date.The report also says Uber looked into acquiring Cabify, but held off due to Japanese tech giant Rakuten's stakes in both Uber and Lyft. Cabify has denied the rumors of a potential acquisition.  — VENTUREBEAT

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4. Tesla will begin pushing consumers to purchase select versions of the Model 3. The company has “anti-sold” its Model 3 vehicle, instead pushing consumers to buy a higher-priced Model S or X cars. However, Tesla will now incentivize its sales team to sell the Model 3 performance model, which starts at $53,000. The company will be offering test drives of the vehicle, which had previously not been available, and additional commissions to sales staff that sell the vehicle. Tesla CEO Elon Musk has said that selling higher-end Model 3 vehicles are necessary to sell its much promised $35,000 base-priced Model 3. — ELECTREK

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5. Elon Musk said SpaceX built a “kid-sized submarine” that would rescue a trapped youth soccer team in Thailand. Musk shared pictures of the submarine on Twitter over the weekend, which he said was being transported from Los Angeles to Thailand immediately after testing. Musk said the submarine was “fitted for a kid or small adult to minimize open air,” with compartments to add weights to account for buoyancy. A Boring Company spokesperson said engineers from SpaceX, Tesla and the Boring Company came together to design, build and test the submarine. Other engineers with the company were on their way to Thailand to coordinate with the government on how to proceed with the rescue. At the moment, eight boys have been removed from the cave, Musk’s team has not played a role in the rescue. — THE VERGE

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6. Ride-hailing company Careem is planning to launch a food delivery service. According to people close to the situation, the company is planning to spend up to $150 million to launch the service as early as September. Careem will compete with other food delivery services, including Deliveroo, Zomato, Talabat and its ride-hailing competitor’s food delivery service UberEats. Careem is said to be in talks to raise $500 million, in a round that could value the company at as much as $1.5 billion. The Middle East ride-hailing app has also been rumored to be exploring a potential merger with Uber. — REUTERS

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7. Proposed federal self-driving vehicle legislation will likely not come to a vote soon. Nearly a year ago, a House panel approved the Self Drive Act, which would liberalize rules for self-driving car testing and help accelerate the deployment of autonomous vehicles. A similar bill, named the AV Start Act, also cleared a Senate Commerce Committee the following month. However, despite bipartisan support, the Senate calendar with other Republican priorities making the future of the AV Start Act or similar bills bleak, according to some members of Congress. Rep. Bob Latta, a chairman of the Energy and Commerce digital-commerce subcommittee, said in a recent interview that “time is running out” for the United States to put together autonomous vehicle legislation. — AUTO NEWS

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8. Australian self-driving car startup Zoox is in talks to close its Series B round of funding. People close to the situation say the company is raising $600 million in the round, at a valuation of $3 billion. The company was previously rumored to be in talks with SoftBank to invest in Zoox.  — SYDNEY MORNING HERALD

9. Tesla prices rise in China after the country’s first round of retaliatory tariffs in a trade war with the U.S. Tesla Model S and X models cost as much as $22,600 to $37,600 more after a 40 percent import tax hike. — THE VERGE

10. The UK is proposing a plan to expand EV charging points across the country. The Road to Zero Strategy focuses on requiring all new homes to be equipped with EV chargers, while also accelerating the roll out of EV chargers on street light posts and at businesses. — ENGADGET

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