The mobility sector is bracing for impact as tariffs continue to shape the industry's future. With a 90-day pause on "reciprocal" tariffs placed on most countries, the 10% base tariffs remain, and President Trump has increased tariffs against China to around 145%. This shift is expected to disrupt businesses, including Apple and Tesla, with Wedbush Securities analyst Dan Ives slashing price targets for both companies.

The transportation sector, particularly electric vehicle (EV) companies using lithium iron phosphate (LFP) batteries, are highly exposed to the outsized tariffs placed on China imports. The pause on higher tariffs placed on goods imported from Mexico and Canada provides relief, but the effects of the tariffs won't be fully understood for months. Companies will need to decide whether to pass the increased costs on to customers, which could impact the industry's growth.

In other news, a secretive EV startup called Slate Auto has been making waves. Backed by high-profile investors like Jeff Bezos, Mark Walter, and Thomas Tull, Slate Auto is working on an EV pickup truck. The company's origin story, business model, and product details were revealed in an in-depth report by TechCrunch's Sean O'Kane.

The deals space saw some notable activity, with Lucid Motors acquiring some of Nikola's assets out of bankruptcy for around $30 million in cash and non-cash considerations. Other deals included Ayan Capital's £25 million Sharia-compliant financing round, Nowos' €6 million lithium-ion battery repair and maintenance funding, and Nuro's $106 million Series E round, which brought its total funding to $2.2 billion.

In the autonomous vehicle space, Parallel Systems raised a $38 million Series B round to develop autonomous, electric freight technology. Meanwhile, Waymo is preparing to use data from its robotaxis to train generative AI models, and Zoox is deploying a small fleet of retrofitted test vehicles on the streets of Los Angeles.

Notable reads and tidbits from the week include Elon Musk's Department of Government Efficiency making cuts at the National Highway Traffic Safety Administration, Nissan's plans to use Wayve's automated driving software, and Canoo CEO Anthony Aquila's ability to buy the bankrupt EV startup's assets. Additionally, Elon Musk's political activities have been affecting Tesla's sales, with used Tesla listings skyrocketing and other brands like Polestar seeing an uptick in sales.

As the mobility sector continues to evolve, one thing is certain – tariffs, EV startups, and autonomous vehicles will remain key players in shaping the industry's future. Stay tuned for further updates and analysis on these developments.