Last week, truck developer Nikola Motors received a delisting notice from the Nasdaq for failure to reach the $1 minimum price per share for 30 consecutive trading days. The company is planning a shareholder vote in June to increase the number of shares.

More:

• Nikola paused production at its facility in Coolidge, Arizona, amid low demand for its battery-electric trucks.
• The company's delisting notice comes soon after Lordstown Motors' issuing of a reverse stock split to remain listed on the exchange.
• Earlier this month, Nikola announced the sale of its stake in a European joint venture with Iveco Group for $35M and 20.6 million shares of stock, refocusing its business on hydrogen fuel production in the U.S. and a reduction in its vehicle production going forward.
• $NKLA is down 25.13% WoW and -73% YTD to $0.60 per share as of Tuesday afternoon.

Stellantis revealed it is investing an undisclosed sum in Lyten, a lithium-sulfur battery company developing a three-dimensional graphene material platform. Lithium-sulfur could reportedly deliver twice the energy density versus lithium-ion Batteries.

More:

• The company is aiming at a 900 Wh/kg gravimetric energy density for production and market launch in 2025 or 2026.
• The batteries would not require nickel, cobalt, or manganese, which represent a lower carbon footprint by ~60% versus current batteries and 40% versus solid-state batteries.
• "We are converting greenhouse gases into a new class of high-performance, high-value carbon materials and are incorporating these tuned materials into applications that will decarbonize the hardest to abate sectors on the planet," said Dan Cook, CEO of Lyten.

ZParq, a Swedish electric motor company for marine vehicles, announced it raised $2.68M. The startup is currently working on pilot programs for 10kW and 50kW motors with undisclosed OEMs.

More:

• ZParq claims its light motor design enables a 50% reduction in manufacturing by using less raw material.
• The round was led by Santander's InnoEnergy Climate Fund and Almi Invest GreenTech. 
• The startup competes with Italian company Elettrica Wave and San Francisco-based Arc Boat.
• Founded in 2020, ZParq launched out of a collaboration between the founders and the Royal Institute of Technology in Stockholm.

Micro-mobility operator Tier Mobility revealed it reached 5 million rides through integrations with mobility-as-a-service apps since 2019. Tier has partnerships with over 70 MaaS platforms in 250 cities across 19 countries.

More:

• In 2022, Tier's MaaS trips saw an increase of 180% YoY to approximately 3 million, including its Spin and Nextbike brands.
• "Since communities have very different needs, we need to provide them with a range of different mobility options to effectively draw them away from cars, which is where MaaS comes in," said Storm Gibbons, Tier's global MaaS lead and public policy manager.
• The platforms include Sixt, Free Now, MaaS Global, and Google Maps.
• Tier is reportedly amid late-stage conversations to be acquired by European mobility company Bolt (formerly Taxify). 

Quick Hits:

• Demo Divvy + get a $100 Amazon gift card. Divvy, BILL's spend and expense management solution, is one of the easiest and most efficient ways to manage your company spending.*
• American Airlines removed more than 10,000 flights from its September schedule, comprising 6% of its total operations.
• Uber launched its Green service in India, which enables users to choose to be picked up by an EV, in three cities. NOTE: Inside.com founder and CEO Jason Calacanis is an investor in Uber.
• IdeaWorksCompany, an airline revenue consultancy, revealed that eight U.S. airlines generated $4.2B from assigned seat fees in 2022. The airlines generated $5.1B from checked baggage for the year. 
• Mitsubishi is extending its production pause in China amid dropping sales due to increased interest in EVs over combustion engine cars.
• AI investments: Harness the power of a technology expected to add $15.7 trillion to the global economy by 2030.*

*This is sponsored content.