Via raises $492.9M in IPO, and German automakers go on the offensive

The article highlights key developments in the transportation and automotive sectors, focusing on the recent IAA Mobility conference in Munich where German automakers Volkswagen Group, Mercedes, and BMW showcased new electric and technologically advanced vehicles. This event underscored Germany's intent to remain competitive against rising Chinese automakers like BYD, which have nearly doubled their market share in Europe. Notable vehicle launches include the all-electric Mercedes GLC, BMW iX3 equipped with advanced computing systems, and Volkswagen’s ID Polo and ID Cross concept. Additionally, Rimac Technology announced plans to release high-capacity batteries capable of rapid charging by late 2027, signaling ongoing innovation in electric vehicle components. In corporate news, Hyundai is reaffirming its commitment to the autonomous vehicle joint venture Motional after Aptiv’s early 2024 withdrawal. Hyundai is injecting significant capital—starting with approximately $452 million this year and additional funding next year—to sustain and expand Motional’s operations, while also maintaining a strategic relationship with Waymo.