<div>
 <ul>
 <li>
 
 TuSimple, a manufacturer of autonomous trucks, has announced plans to lay off 30% of its 550 workforce in the US in an effort to enhance its focus on its core market in China.&nbsp;
 
 </li>
 <li>
 
 The layoffs are a strategic move to optimize the company&rsquo;s resources and prioritize its growth opportunities.&nbsp;
 
 </li>
 <li>
 
 The company further announced that it is no longer exploring a sale for its China-based subsidiaries and that these subsidiaries &ldquo;have continued to make progress working with several OEMs on Level 4 and Level 2+ commercial projects.&rdquo;
 
 </li>
 <li>
 
 Analyst QuickTake: 
 This is TuSimple&rsquo;s second round of layoffs within a span of just five months. In 
 <a href="https://sp-edge.com/updates/15439">
 December 2022
 </a>
 , the company laid off around 350 of its US employees and announced plans to sell off its Asia-focused operations. The news also closely follows TuSimple's announcement that it 
 <a href="https://techcrunch.com/2023/05/11/tusimple-continues-its-slide-into-the-ether-with-new-delisting-warning/">
 received a delisting notice
 </a>
 from the Nasdaq for failing to file its quarterly report for Q4 2022.&nbsp;
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://techcrunch.com/2023/05/18/tusimple-to-lay-off-30-of-u-s-workforce-keep-china-business/">
 TechCrunch
 </a>
 
 
 
</div>

Truck Industry Tech

TuSimple to downsize the US operations in a strategic move to enhance focus on China markets

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 NVIDIA, a tech company, has established a partnership with Chery Automobile, a Chinese car manufacturing giant, to create an intelligent driving platform. This platform will be based on NVIDIA's "DRIVE Thor," a centralized car computing technology, and will be initially employed in Chery's high-end vehicle models.
 The advanced AI capabilities of DRIVE Thor chip will be integrated into the future models of Chery to enhance the driving experience.
 Notably, this collaboration is an advancement from NVIDIA’s existing "DRIVE Orin" platform, utilized in Chery's latest model, "EXEED STERRA ET." This model offers features like automated driving assistance and intelligent parking.
 
</div> Analyst QuickTake: 
 NVIDIA's Drive Thor chip introduced <a href="https: 
//sp-edge.com/updates/13215"> in September 2022 </a> is anticipated to power a range of next-generation vehicles, including robotaxis, autonomous delivery vehicles (ADVs), and long-haul trucks. ADV developer <a href="https: 
//sp-edge.com/companies/454812"> Nuro </a> and autonomous truck manufacturer <a href="https: 
//sp-edge.com/companies/1410679"> Waabi </a> have already integrated Drive Thor into their driving systems. Other Chinese automakers like <a href="https: 
//www.teslarati.com/nvida-drive-thor-chip-autonomous-vehicles/"> BYD, Li Motors, and Xpeng </a> also plan to incorporate Drive Thor into their upcoming vehicle models, highlighting the chip's broad adoption and pivotal role in advancing autonomous transportation technologies.

NVIDIA to offer 'Drive Thor' platform to Chery to develop intelligent driving functions

Automation and robotics are finally creating solutions for the complexities of doorstep deliveries.

Last-mile Delivery Automation

<div>
 Alphabet's drone delivery division, Wing, is partnering with the National Health Services (NHS) in the UK to test drone-based blood sample deliveries between London hospitals. They will be working alongside Apian, a medical logistics firm and this project will be financially supported by the NHS.
 The service is set to roll out in summer of this year, and is planned to run for six months, with potential expansion if successful. The drones will be used to transport high-priority samples between Guy’s and St Thomas’ hospitals in South London. The goal is to make 10 daily deliveries during weekdays from 9 a.m. to 5 p.m. during the trial period.
 
</div> Analyst QuickTake: 
 Alphabet Wing’s upcoming UK trial would mark the company’s first drone-based delivery operations in the country. This positions the company to potentially launch ahead of <a href="https: 
//sp-edge.com/companies/203208"> Amazon </a> <a href="https: 
//sp-edge.com/updates/22843"> this year. </a> Furthermore, Wing has previously collaborated with Apian <a href="https: 
//sp-edge.com/updates/21053"> in August 2023 </a> for drone deliveries in Ireland. On a separate note, NHS is already experienced in drone-based deliveries, having previously conducted UK trials in partnership with startups including <a href="https: 
//sp-edge.com/companies/69024"> Zipline </a> <a href="https: 
//sp-edge.com/updates/25057"> (December 2023), </a> &nbsp; <a href="https: 
//sp-edge.com/companies/865738"> Skyports </a> <a href="https: 
//sp-edge.com/updates/20818"> (August 2023), </a> and <a href="https: 
//sp-edge.com/companies/1311070"> Skyfarer </a> <a href="https: 
//www.commercialdroneprofessional.com/coventry-universitys-medical-drone-start-up-skyfarer-takes-flight/"> (September 2020). </a>

Alphabet's Wing partners with NHS and Apian for drone-based blood sample deliveries between London hospitals

Generating, collecting, and analyzing enterprise data will never be the same.

Edge Computing

<div>
 The multinational communications company, Nokia, has launched MX Grid to boost operational technology (OT) decision-making procedures in organizations. As part of the Nokia One platform, MX Grid allows for the closer analysis of operational data to the source, allowing for faster decision-making.
 MX Grid provides support for Industry 4.0 protocols, offers on-premise AI/ML capabilities and interoperates with Nokia's MX Industrial Edge platform. Through localised data analysis and lower latency, this solution can enhance decision-making in areas such as safety, predictive maintenance, and quality assurance, the company states. 
</div>

Nokia adds MX Grid to Nokia One platform

Empowering sustainable food innovation through food engineering tech

Novel Foods

<div>
 Solar Foods, an alternative protein ingredient startup, has secured an additional EUR 8 million (~USD 8.6 million), adding to its Series B funding round held in <a href="https://sp-edge.com/updates/24061"> November 2023 </a> . Springvest Oyj led this round, bringing the total Series B funding to EUR 16 million (~USD 17 million).
 The additional funds will be used to further Solar Foods’ operational capabilities.&nbsp;
 
</div> Analyst QuickTake : 
 Solar Foods recently <a href="https: 
//sp-edge.com/updates/28496"> inaugurated </a> Factory 01, its latest manufacturing plant in Vantaa, Finland. The factory will produce Solein, its flagship protein, and has an annual capacity of 160 tons.

Solar Foods raises additional EUR 8 million in Series B funding to enhance operational capabilities

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

<div>
 Solar Foods, a startup specializing in alternative protein ingredients, has raised an extra EUR 8 million (~USD 8.6 million), augmenting its Series B funding round held in <a href="https://sp-edge.com/updates/24061"> November 2023 </a> . The leading financier in this round was Springvest Oyj, pushing the total for the Series B funding round to EUR 16 million (~USD 17 million).
 This injection of finance will be directed towards enhancing the operational capabilities of Solar Foods.
 
</div> Analyst QuickTake : 
 Solar Foods recently <a href="https: 
//sp-edge.com/updates/28496"> inaugurated </a> Factory 01, its latest manufacturing plant in Vantaa, Finland. The factory will produce Solein, its flagship protein, and has an annual capacity of 160 tons.

Moving industry forward with next-generation advancements in energy storage and transmission.

Alternative Energy

<div>
 
 On.Energy, a company specializing in commercial and industrial battery energy storage systems, has secured a USD 25 million working capital facility from Lombard Odier Investment Managers, bringing its total funding to USD 185 million.
 The funds are intended to help On.Energy to develop and expand its US asset base. This will include a 400 MWh portfolio in ERCOT and the development of 1.1 GWh of projects across California and Texas.
 
</div> Analyst QuickTake: 
 This funding comes just four months after On.Energy secured a funding facility of over USD 40 million from Live Oak Bank in <a href="https: 
//sp-edge.com/updates/25730"> December 2023 </a> to support the construction of an 80 MWh portfolio in Texas, known as the Palo Verde Projects. The projects are expected to come online in Q3 2024.

On.Energy receives USD 25 million to advance battery storage projects

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience.

Neo Insurance

<div>

Akur8, an AI-driven insurance pricing solutions provider, has been chosen by Tokio Marine HCC for their pricing platform. They plan to enhance pricing capabilities using Akur8's unique Machine Learning (ML) technology. The new tech is expected to bring about faster model building, clear Generalized Linear Model (GLM) outputs, and informed underwriting based on data.
Tokio Marine HCC aims to use the solution to launch mature model implementations, optimize pricing procedures, simplify rate plan changes, and improve data understanding.

</div>

Akur8 partners with Tokio Marine HCC to enhance pricing processes with ML technology

<div>
 California is considering a bill, AB1777, to introduce new regulations for autonomous vehicles (AVs). These requirements include an emergency telephone line for first responders, installing two-way communication devices in every AV, and enabling officials to control AVs using geofencing in emergency situations.
 The legislation would also obligate AV manufacturers to report collisions within five days and address current issues with citing driverless cars for traffic violations.
 The proposed bill if passed will grant the state the power to place conditions on AV usage based on several factors like location, timing, type of road, speed limit, and weather after evaluating previous violations and crashes.&nbsp;
 Another relevant bill, SB915, stipulates the need for local jurisdictions to enforce their own rules on AVs, such as requiring permits, setting vehicle limits, and determining operating hours before AVs can run in their areas.
 
</div> Analyst QuickTake: 
 Public sentiment towards AVs in California is deteriorating, highlighted by vandalism and protests. For instance, a Waymo vehicle was recently <a href="https: 
//www.cnbc.com/2024/02/11/crowd-sets-waymo-self-driving-car-ablaze-in-san-francisco.html"> attacked and set on fire. </a> Additionally, GM Cruise reintroduced self-driving vehicles with safety drivers <a href="https: 
//sp-edge.com/updates/28329"> earlier this month </a> in Phoenix, after its license was suspended in California <a href="https: 
//sp-edge.com/updates/23027"> in October 2023 </a> due to safety concerns and misrepresentation of safety data by the company, which subsequently led to the <a href="https: 
//sp-edge.com/updates/23186"> withdrawal of its robotaxi operations </a> nationwide.

California regulators propose bill to restrict AV operations within state

Using AI to automate, enhance and optimize marketing activities

Marketing Automation

<div>
 AdTech company, GumGum, known for its contextual analytics intelligence platform, has incorporated ad media from Playground xyz into its operations in the Asia-Pacific region. This move completes the global rollout of its Mindset Platform, which had previously been launched in North America and Europe. This platform is devised to understand user mindsets and to deliver advertisements that are most likely to resonate with users.&nbsp;
 The Attention Intelligence Platform (AIP) of Playground xyz will continue to operate as a distinct data solution. It will measure attention for GumGum's media business across a variety of different platforms, such as Display, YouTube, Facebook, Instagram, TikTok, and OLV.&nbsp;
</div> Analyst QuickTake : 
 The integration of Playground xyz's media portfolio into GumGum's APAC business is part of the company's strategy to solidify its position as a leader in digital advertising innovation. Building on the successful launch of The Mindset Platform in North America and Europe and the introduction of the <a href="https: 
//sp-edge.com/updates/24563"> Mindset Index </a> for enhanced audience engagement measurement, this integration allows GumGum to leverage technology to deliver actionable insights and enhanced advertising solutions tailored to the unique needs of the APAC market.

GumGum integrates Playground xyz's media portfolio into APAC business

<div>
Energy Vault, a Swiss company listed on the NYSE that specializes in gravity-based, long-duration energy storage, has entered into a partnership with NV Energy, the largest public utility in Nevada. Together, they have initiated commercial operations of the 220 MW Reid Gardner Battery Energy Storage System (BESS) located in Moapa, Nevada.
The BESS, which can store energy for 2 hours, is among Nevada's largest. It has been designed to store and dispatch surplus renewable energy from sources like wind and solar power. The operation of this system is handled by NV Energy, using Energy Vault's integration platform and energy management system, referred to as Vault-OS.
</div> Analyst QuickTake: 
 In <a href="https: 
//sp-edge.com/updates/25989"> January 2024 </a> , Energy Vault signed a licensing and royalty agreement with Gravity Energy Storage Solutions (GESSOL) in the Southern African Development Community (SADC). Through the agreement, GESSOL will deploy Energy Vault's gravity energy storage systems and VaultOS energy management system in the SADC region.

All Updates

NVIDIA to offer 'Drive Thor' platform to Chery to develop intelligent driving functions

Alphabet's Wing partners with NHS and Apian for drone-based blood sample deliveries between London hospitals

Nokia adds MX Grid to Nokia One platform

Solar Foods raises additional EUR 8 million in Series B funding to enhance operational capabilities

Solar Foods raises additional EUR 8 million in Series B funding to enhance operational capabilities

On.Energy receives USD 25 million to advance battery storage projects

Akur8 partners with Tokio Marine HCC to enhance pricing processes with ML technology

California regulators propose bill to restrict AV operations within state

GumGum integrates Playground xyz's media portfolio into APAC business

Energy Vault and NV Energy begin operations of 220 MW BESS system in Nevada