Welcome to the Tech Weekly, NEO’s regular news monitoring of key developments in the food and mobility tech industries.
This week’s highlights:
- The Biden administration this week proposed new standards for its program to create a national network of 500,000 charging stations for electric vehicles by 2030. Officials said the proposal would help set the stage for states to create charging station projects that are accessible to all drivers regardless of location, electric vehicle brand or charging company. (CNBC)
- Amazon has launched its Luxury Stores in the United Kingdom, France, Germany, Italy and Spain. The American version was rolled out in 2020. “Amazon has shown that convenience is the new luxury,” said Dundas’ chief marketing officer. “Now, with its strong return policy, there’s a new confidence in buying high-value items there.” (The Guardian)
- Grab Holdings, Asia’s leading food rental and delivery firm, will offer its own mapping and location-based services to businesses as it seeks to boost profit. GrabMaps, an in-house mapping service, is offered to companies looking for hyperlocal location solutions in densely populated Southeast Asian countries. (Reuters)
- Shares of Chinese giant Didi rose more than 24 percent in U.S. trading on Monday after The Wall Street Journal reported that regulators in China are wrapping up investigations into the company. The Journal report said authorities will lift the ban on adding new users to Didi as early as next week and restore the company’s app to domestic app stores. (CNBC)
- There are signs of a correction among delivery startups as the pandemic period of rapid growth appears to be drawing to an end. Old and new delivery reaped the benefits of a changed landscape during the pandemic, with record fundraising rounds and huge uptake during lockdowns. In 2020, a 500% increase in order volume drove Instacart to $1.5 billion in revenue. Now, access to capital is more limited, a “growth at all costs” mindset is being revised, and inflation is eating away at margins. (Tech Crunch)
