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Tesla earnings came and went, and much of it fell into the “we expected this” category. Investors seemed surprised by the $1.4 billion in free cash flow, which gave shares a brief bump, and revenue met or slightly exceeded expectations, depending on which batch of analysts you reviewed.
The earnings call, however, did deliver one eyebrow-raising moment that prompted readers (including some ex-Tesla engineers and other founders in the industry) to reach out to me with some schadenfreude-tinted prose. CEO Elon Musk admitted that millions of Tesla owners will need hardware upgrades to run a future, more capable version of its Full Self-Driving software that doesn’t require human supervision.
There are financial and legal implications for Tesla. As senior reporter Sean O’Kane wrote, Tesla owners with Hardware 3 cars have spent years bugging the company and Musk for a straight answer about whether they would be able to run this advanced version of Full Self-Driving — which, it should be noted, Tesla has not yet released or even proven it is capable of releasing. Tesla sold these Hardware 3 cars between 2019 and 2023.
Now, here is the kicker and it made me guffaw. Musk said the company would need to physically upgrade each of these vehicles, a feat that would require Tesla to set up microfactories in several major cities to service potentially millions of vehicles.
Microfactories? Yes, you heard correctly. This is not going to be cheap, and it could be one of the line items in Tesla’s capital expenditures budget, which it expanded to a whopping $25 billion this year.
A little bird
Senior reporter Sean O’Kane obtained (and verified) an internal memo sent by Redwood Materials founder and CEO JB Straubel that announced layoffs and a restructuring. (Thanks to the little bird who shared it.) Straubel is a former CTO of Tesla.
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The company laid off around 135 employees, or roughly 10% of its workforce, as it restructures to better accommodate its growing energy storage business. O’Kane later learned several executives have also recently left. Chief operating officer Chris Lister is retiring, and at least three other VPs have left in recent months, with the company telling TechCrunch there has been a focus on reducing layers of management.
Last week, I shared that a new autonomous hauler startup (think a cabless autonomous big rig) backed by Eclipse was about to break cover and announce a seed round, thanks to a little bird. Welp, it happened just days later.
The San Francisco-based startup, called Humble Robotics, raised $24 million in a seed round. Eclipse led the round, which also included backing by Energy Impact Partners and RedBlue Capital, a small early-stage VC firm that is surprisingly active.
As I had been told, Humble really is chock-full of Silicon Valley elite, including founder Eyal Cohen, who previously had stints at Apple special projects, Uber ATG, Pronto, and Waabi. He also founded Spark AI, which was acquired by John Deere in 2023.
Other execs include Drew Gray, who has a similarly AV-heavy résumé, including early days at Cruise, before jumping over to self-driving trucks startup Otto, which was acquired by Uber. After leaving Uber, he became CTO at Voyage, which was then acquired by Cruise.
A full-circle moment, cemented by this fun fact: Humble Robotics is in the same building Cruise was in right after the startup moved out of founder Kyle Vogt’s garage. I know, we keep circling back to 2016.
Except it’s not 2016, and Cohen and Gray talked to me about how much has changed since then, why this is the time to launch an AV startup, and where the industry is headed. Stay tuned for that story next week.
Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or my Signal at kkorosec.07, or email Sean O’Kane at sean.okane@techcrunch.com.
Deals!
Lyft stuck to the North American market for much of its history, while Uber took a global, expand-at-all-costs strategy. Lyft has been trying to catch up since last year when it bought German multi-mobility app Freenow from BMW and Mercedes-Benz Mobility for about $197 million in cash.
Now it’s acquiring ride-hailing app Gett’s U.K. business. Lyft says the deal will give it the majority of registered black cab drivers across Greater London on the Lyft platform. The company didn’t disclose the terms, but Calcalist reported it was $55 million.
The company is also building out other means of transport in the region, including its recently renewed partnership with Serco to provide the bikes and stations for Europe’s bike-share system Santander Cycles. Lyft is also planning to start testing autonomous rides in London with Baidu later this year.
Other deals that got my attention …
A&K Robotics, a Vancouver, Canada-based maker of autonomous vehicles for airports, raised an $8 million CAD Series A round led by BDC’s Industrial Innovation Venture Fund and Vantage Futures.
Decade Energy, which provides power infrastructure at logistics depots, raised €22 million in funding led by Eiffel Investment Group and SET Ventures, along with existing investors.
Reliable Robotics, a Silicon Valley startup developing autonomous systems for aircraft, raised $160 million in a round led by Nimble Partners, existing backers Eclipse, Lightspeed, Coatue, and Pathbreaker Ventures, and new investors Island Green Capital, Socium Ventures, AE Ventures (a strategic partner of the Boeing Company), RTX Ventures, Presidio Ventures (Sumitomo Corporation), UP.Partners, KAS Venture Partners, What If Ventures, Calm Ventures, Gaingels, and Mana Ventures. History lesson: Co-founder and CEO Robert Rose had a brief stint at Tesla where he was senior director of Autopilot and helped ship that first iteration in 2015.
PlusAI and blank-check company Churchill Capital Corp IX terminated its SPAC merger deal due to market conditions.
Porsche is selling its stake in the Bugatti Rimac joint venture, which it formed in 2021, as well as electric-vehicle maker Rimac Group. Porsche, which holds a 20.6% stake in Rimac and a 45% stake in the joint venture, is selling to HOF Capital. Financial terms weren’t disclosed.
Notable reads and other tidbits
Einride is adding 75 of its electric heavy-duty trucks to Amazon’s Relay freight network as part of a deal that gives the Swedish startup a toehold in the e-commerce giant’s operations.
Ford and Chinese automaker Geely reportedly held talks about extending a European tie-up into the U.S., the Wall Street Journal reported. The implications, of course, would be Chinese vehicles entering the U.S. market. But it sounds like talks have stalled, leaving this consequential deal in limbo. Bloomberg reported that Ford has denied these claims.
Porsche is adding another EV to its lineup. The Cayenne electric coupe will come to market in late summer. There’s some interesting data in my article on why this one might be a winner for Porsche.
The first customer-ready Rivian R2 SUVs rolled off the production line at its factory in Normal, Illinois, just days after it was hit by an EF-1 tornado that tore off part of the roof. Founder and CEO RJ Scaringe said Rivian doesn’t anticipate any delays to the R2, which are expected to reach customers in June.
One more thing …
As diligent readers of this newsletter know, I test-drive a fair number of vehicles, and sometimes they are not EVs. Take the Aston Martin Vantage Roadster, for instance. I was anxious to get into the roadster, not just because this $205,000 chiltern-green machine is sleek, powerful, and a convertible. I wanted to test the Apple CarPlay Ultra, the next-generation infotainment system that projects iPhone content to the vehicle’s screens (including the instrument cluster) and integrates vehicle controls like the radio, performance settings, and climate. CarPlay Ultra first launched in the Aston Martin, which isn’t exactly easy to get my hands on.
My first experience with Apple Ultra CarPlay last summer was mixed. It was great — when it worked, but it often didn’t. The problem seemed to be tied to a bug that showed two versions of the vehicle in the Bluetooth settings.
This time around, the setup was instant and it never glitched. Hooray. And it always worked. This really matters for Aston Martin, which for years was stuck with Mercedes-Benz’ old COMAND system. (Mercedes ditched that system in 2018 for its new MBUX one).
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NDLEA intercepts terror drug ‘captagon’ in Kwara as bizman excretes 45 cocaine wraps
Barely five years after the National Drug Law Enforcement Agency (NDLEA) recorded the first seizure of the deadly terror drug, Captagon, in Africa at the Apapa seaport in Lagos, operatives of the Agency have again intercepted a consignment of the amphetamine substance in Kwara state.
Captagon, a tiny, highly addictive pill, widely available across the Middle East, produces a euphoric intensity in users, allowing them to stay awake for days, making them fearless, and predisposes them to reckless action that puts the lives of people around them in jeopardy.
Its production and sale are controlled by militias and large criminal groups linked to the Islamic State in Iraq and Syria (ISIS) as a means of generating funds for weapons and combatants, and for use as a stimulant to keep them fighting.
The latest seizure of captagon, which street value costs as much as $25 a pill, was made on Tuesday 21st April 2026 when NDLEA operatives on patrol along Bode Saadu road, Kwara state intercepted a trailer conveying passengers. A search conducted on one of the passengers, 33-year-old Nasiru Mu’azu led to the recovery of 10 packs of captagon consisting of 10,000 pills and nine packets of Tapentadol 250mg.
In another interdiction operation at the Bode Saadu patrol point, NDLEA officers on Friday 24th April intercepted a trailer marked RMY-70XA. A search of the truck led to the recovery of 155,900 capsules of tramadol; 6,000 ampuoles of tramadol injection; 3,000 tablets of Co- Codamol and 9,000 tablets of Bromazepam, concealed in a false compartment constructed under the trailer. A 24-year-old suspect Aminu Isah has been taken into custody in connection with the seizure.
Meanwhile, NDLEA operatives in Oyo state on Tuesday 21st April intercepted a commercial bus with registration number MNA 963 ZY, at Akinyele along Ibadan/Oyo expressway, while en route Sokoto. A 33-year-old passenger Eze Prince Emeka was brought down from the vehicle and taken for body scan, which result confirmed ingestion of illicit drug.
The suspect who claims to be a businessman in Sokoto was subsequently placed under close excretion observation during which he excreted a total of forty-five (45) pellets of cocaine with a total weight of 1.043 kilograms in three excretions.
The decision to travel by road to Sokoto with the illicit drug in his stomach was to evade detection by NDLEA at the airport while further investigation reveals that upon arrival in Sokoto, the suspect was to excrete the pellets, rest for a few days, and subsequently re-ingest the substances to continue the journey through the trans-Saharan routes, with Algeria as a transit point and possible final destination in Europe.
In Edo state, NDLEA officers on patrol along Benin/Lagos expressway on Saturday 25th April intercepted a truck marked NLC 146 FC conveying 1, 196,000 pills of pharmaceutical opioids, among others. Two suspects: Osagie Igbinibo, 43, and Omijie Malik, 44, were apprehended in connection with the seizure of the consignments heading to Onitsha, Anambra state.
While a suspect Rasheed Ibuowo, 40, was arrested at Mile 2 expressway in Lagos on Saturday 25th April conveying 810 kilograms of Arizona, a strain of cannabis, another suspect Muktar Bello, 35, was nabbed by NDLEA operatives on Wednesday 22nd April at Misau road, Azare/Katagun LGA, Bauchi state with 288 blocks of skunk weighing 154.5kg.
In Ekiti state, a total of 466.8 kilograms of skunk were recovered from the house of a suspect Layit John Matthew, 56, at Ilaro street, Isinbode-Ekiti, from where he planned to transport them to Yola, Adamawa state while 20,000 kilograms of the same psychoactive substance were destroyed on eight hectares of farmland in Uyanga community, Akamkpa LGA, Cross River state on Saturday 25th April when NDLEA officers supported by soldiers raided the community and recovered 170kg of processed cannabis.
Three Hundred and Ninety-Four (394) pieces of IED components were seized from a suspect Mohammed Aliyu, 26, by NDLEA operatives on patrol along Kontagora/Zuru road, Niger state on Wednesday 22nd April. He was conveying the IED materials in a red Toyota car with registration number KNT 617 AE to Shadadi, Mariga LGA. The suspect and exhibit are to be transferred to the relevant security Agency for further investigation.
With the same zeal, Commands and formations of the Agency across the country continued their War Against Drug Abuse, WADA, sensitization activities in schools, worship centres, work places and communities among others in the past week.
These include: WADA enlightenment lecture for students and staff of Mallam Salisu Islamic School, Paiko, Niger state; Madarasatul Abdulrahman Bin Auf Litahafizul Quran, Durusul Islamiyah Badawa, Nasarawa LGA, Kano; Sani Zango Daura Model Primary School, Zango, Katsina; and members of community development associations, Badagry LGA Lagos while the Zonal Commander, Zone 4 Command of NDLEA, ACGN Bridget Viashiama led other senior officers of the Zone on a WADA advocacy visit to Nasarawa state governor, Engr. Abdullahi Sule, among others.
While commending the officers and men of Kwara, Oyo, Edo, Cross River, Bauchi, Ekiti, Niger and Lagos Commands of the Agency for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) noted their drug supply reduction efforts balanced with WADA sensitization activities while he charged them and their compatriots across the country to maintain the current tempo.
He commended the tactical precision of NDLEA operatives following the interception of 10,000 pills of Captagon in Kwara State, noting that the bust is a major blow to drug syndicates attempting to revive a pipeline that has been largely dormant since the landmark seizure at the Apapa Seaport in Lagos five years ago.
Marwa described the seizure as a wake-up call, noting that Captagon, a potent amphetamine often linked to insurgent groups for its ability to inhibit fear and fatigue, remains a target for traffickers looking to fuel insecurity.
“We are not just seizing pills; we are disrupting the fuel that powers violence in our communities. Our operatives remain on high alert across all frontiers to ensure this illicit trade finds no foothold”, he stated.
The post NDLEA Intercepts ‘Terror Drug’ Captagon, Arrests Multiple Suspects appeared first on Business Today NG.
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Group Endorses Chun Ezekiel John for Barkin Ladi–Riyom Federal Seat, Pledges to Purchase APC Forms
A political support group, Progressive Minds of Zabot Ward in Foron District of Barkin Ladi Local Government Area, has endorsed Hon. Pharm. Chun Ezekiel John (CJ) for the Barkin Ladi–Riyom Federal Constituency seat ahead of the forthcoming elections.
The group, operating under the platform of the All Progressives Congress (APC), also pledged to purchase the party’s Expression of Interest and Nomination Forms for the aspirant, citing his competence and leadership capacity as reasons for their support.
Speaking on behalf of the group, leader of the delegation, Hon. Elder Dung Stephen Gwong, said the endorsement followed a careful assessment of all aspirants, adding that Chun Ezekiel John emerged as the most suitable candidate to represent the constituency.
Gwong explained that the group, comprising over 2,000 APC members including men, women, and youths, was impressed by the aspirant’s vision and preparedness, particularly during a recent stakeholders’ engagement in Zabot where he outlined plans for inclusive and people-centered representation.
He emphasized that the decision was driven by the need for quality leadership, noting that Chun John possesses the experience, grassroots connection, and capacity required to effectively represent the constituency at the National Assembly.
“As a demonstration of our commitment, we will purchase the APC nomination and expression of interest forms for him and urge him to contest. We assure him of our full support,” Gwong stated.
Also speaking, Hon. Ayuba Hwere, a former Majority Leader of the Barkin Ladi Legislative Council, described Chun Ezekiel John as a grassroots-oriented leader who has remained accessible and supportive to the people, especially during periods of insecurity.
On behalf of the women, the Ward Woman Leader, Mary Gyang, called for unity among members in support of the aspirant’s ambition, urging him to prioritize empowerment and security if elected.
Similarly, youth representative, Comrade Hwere David Ayuba, commended Chun Ezekiel John for his consistent efforts in empowering young people, noting that his leadership qualities have been evident even without holding elective office.
Responding, Hon. Pharm. Chun Ezekiel John expressed appreciation to the people of Zabot Ward for the endorsement, describing their decision to purchase his nomination forms as a rare demonstration of trust and confidence.
He said the gesture reflects the people’s belief in his vision and commitment to service, assuring them that he would not take their support for granted.
“I am deeply humbled by this show of support. It is a strong indication that the people desire a new direction, and I am ready to serve with dedication and purpose,” he said.
The aspirant added that the growing wave of endorsements across wards signals increasing momentum for his ambition, pledging to deliver effective representation if elected.
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