The Evolving Mobility Landscape and the Challenges Ahead: With David Fidalgo

In an exclusive interview, our CEO, David Fidalgo shares his thoughts with Timothy Papandreou on the hidden truths behind the rise and fall of SPACs, the real reason so many electric vehicle startups are failing, and the looming crisis that could disrupt the entire mobility landscape.

From geopolitical tensions to the unexpected challenges of electrification, this conversation uncovers the insights you need to know about where the transportation industry is really heading.

Can the automotive giants keep up, or will the future belong to the disruptors?

Keep reading to find out what David has to say about what's next in mobility—and why it matters.

Tim Papandreou: David, it’s been a while since we last spoke, and so much has changed in the mobility landscape. We've seen economic shifts, geopolitical tension, and the rapid rise and fall of technologies and companies. Can you share your perspective on what’s been happening in the industry over the last year?

David Fidalgo: It’s been quite a whirlwind, Tim. A lot of the topics we previously discussed, like the future of electric vehicles (EVs), mobility as a service, and shared mobility, have taken new turns. A great way to describe it is we've experienced the 'double-dip'. Cheap money was fueling a lot of the innovation we were seeing. Once that dried up, it became clear that many companies and technologies weren’t quite ready for the market. There’s also been the geopolitical factor, which has added to the uncertainty, particularly around supply chains and global trade. But despite all that, I’m optimistic. I believe we’re heading towards a period of consolidation, which will ultimately give rise to new, stronger solutions.

Tim Papandreou: The term "double-dip" really encapsulates the situation well. It feels like we’re seeing a recalibration in the mobility space. Do you think the economic downturn and the drying up of easy money have led to better product-market fits?

David Fidalgo: Absolutely. During the height of the SPAC boom, many companies received massive amounts of funding without having proven products or sustainable business models. The market was oversaturated with startups trying to be the next Tesla, but most of them didn’t have the structure or technology to back it up. Now, we’re seeing a shift towards more viable business models, especially in the B2B space. I believe this downturn has forced companies to really think about go-to-market strategies and focus on developing products that are fit for the market, rather than just following trends.

Tim Papandreou: That’s a great point. The focus on B2B seems to be a trend that’s growing across the board. Do you see this shift continuing?

David Fidalgo: Definitely. What we’re seeing is that the consumer market is more challenging than many had anticipated. The economics just weren’t there for many B2C companies, especially in micro-mobility and shared mobility. With B2B, there’s more predictability, and businesses are now seeing the value in adopting electrification and smart mobility solutions. For example, fleet management for electric delivery vehicles or integrating mobility into corporate sustainability strategies are becoming key focus areas. In this context, mobility is no longer just about reducing carbon emissions; it’s tied to a broader vision of sustainability and operational efficiency.

Tim Papandreou: Speaking of electrification, the adoption of EVs is on the rise, but the narrative around it seems mixed. What’s your take on the current state of electrification, especially in Europe?

David Fidalgo: It’s a bit of a paradox, isn’t it? The data shows that EV adoption is growing—countries are hitting the tipping point where 10% or more of new vehicles are electric. But the political narrative and media coverage seem to be all over the place. The reality is that Europe, in particular, is seeing a significant increase in EV sales, but the infrastructure is still lagging behind. We’ve got more electric vehicles on the road, but the charging networks haven’t scaled at the same pace, and the experience for EV owners isn’t always ideal.

Tim Papandreou: That brings up an interesting point about the user experience. EVs aren’t just about the cars themselves—it’s the entire ecosystem, including charging infrastructure. How do you see that ecosystem evolving?

David Fidalgo: Exactly, Tim. The EV market can’t thrive without a robust charging infrastructure. In Europe, we’re seeing some progress, but the experience is still fragmented. Charging stations aren’t always reliable, and often they’re placed in inconvenient locations. This has a direct impact on how willing people are to adopt EVs. I think governments and companies need to rethink the customer journey. For example, if you’re charging for two hours, there has to be something for you to do while you wait. In some places, like northern Europe, petrol stations are making more revenue from food sales than from fuel. It’s all about creating a better experience for the user.

Tim Papandreou: Shifting gears a bit—what’s your take on the geopolitical side of things, especially the tariff situation between the U.S., Europe, and China? It seems like it’s creating even more uncertainty in an already challenging environment.

David Fidalgo: It’s a complex situation. Both Europe and the U.S. have realized that they no longer control key supply chains, particularly when it comes to batteries and EV components. There’s a push to bring manufacturing back to Europe and the U.S., but that’s going to take time. The recent tariffs on Chinese imports have added another layer of uncertainty. While it’s an attempt to protect local industries, it could also drive up the cost of EVs in Europe and the U.S. The big question is whether this will spur legacy automakers to fully commit to electrification and scale up their production, or whether we’ll continue to see hesitation and delays.

Tim Papandreou: It feels like we’re at a crossroads in so many areas—SPACs, EVs, autonomous vehicles. What lessons do you think we’ve learned from the rise and fall of SPACs?

David Fidalgo: SPACs are a perfect example of what happens when you try to rush innovation. The idea was that by injecting a lot of capital into these companies, they could speed up development and go to market faster. But in reality, you can’t accelerate everything just by throwing money at it. Building a car, for instance, is incredibly complex. It takes time, expertise, and the right infrastructure. The SPAC boom led to inflated valuations, but without the necessary foundations in place, many of these companies collapsed. I think we’ve learned that financial engineering can’t replace real innovation and market fit.

Tim Papandreou: Thanks for sharing your insights, David. It’s clear that while the mobility space is going through some tough times, there’s still a lot of opportunity ahead. I’m excited to see how these challenges shape the industry moving forward.

David Fidalgo: Thanks, Tim. I’m always optimistic. These are difficult times, but they’re also full of potential. The key is learning from our mistakes and pushing forward with real solutions that benefit both businesses and consumers.

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