The fundraise is the first major capital raise under Sequoia’s new leadership, with Alfred Lin and Pat Grady now serving as co-stewards of the 54-year-old firm.
The Sony-Honda joint venture has killed plans for its Afeela sedan and SUV electric vehicles. The news comes shortly after Honda reversed its plans to launch more electric vehicles in the U.S.
The young California startup is already building RVs, FedEx vans, and box trucks. Now its hybrid powertrain will underpin ambulances and mobile healthcare units.