TechCrunch Mobility: Toyota makes a $1.5B bet on the startup ecosystem

The article from TechCrunch Mobility highlights several key developments in the electric vehicle (EV) and clean energy sectors. Following the expiration of the $7,500 federal EV tax credit on September 30, automakers experienced a sales surge as consumers rushed to purchase EVs before the deadline. Tesla reported a record quarterly delivery of 497,099 vehicles—a 29% increase from the previous quarter and a 7% rise year-over-year. Other major automakers like Ford, General Motors, Hyundai, and Rivian also posted record or improved EV sales. However, the article notes uncertainty about how these companies will manage potential sales slowdowns post-tax credit, particularly regarding inventory and profit margins, with Rivian already lowering its 2025 guidance. In government and investment news, the Department of Energy canceled $7.56 billion worth of clean energy projects, disproportionately affecting blue states such as California, which lost $2.2 billion in grants including a significant grid-modernization program. This move raises concerns