Electric Era’s Post

Exclusive: Struggling to meet their promise, battery startups that went public in the 2020-21 mania have sometimes stretched the truth of their progress. This week, we look at two of them: FREYR Battery and QuantumScape. Last week, Freyr announced a critical breakthrough in automating production of its semisolid battery. My sources say there is progress, but workers continue to intervene to make the line work. Whether it can reach high speed remains a question mark. Two years ago, QuantumScape said its lithium metal battery worked with no external pressure—thought to be impossible—and charged in 15 minutes. Last month, the company came clean: It's now trying to get somewhere close with 0.7 atmospheres of pressure and 15 min charging. It's in a six-layer cell, and aiming for 24 layers. Energy density is at an unremarkable 800 to 850 wh/l. The Electric.

I think that Steve LeVine is reporting correctly and precisely on an important topic: the gaps between various technical or commercial claims made by various EV battery technology startups and the reality of technology adoption in the EV supply chain. It really does not matter how much cash is raised and at what valuation: no one can make a viable “baby” in four months instead of nine months (regardless of the amount of cash in the bank or the valuation). Even claims by Tesla about using metallurgical grade silicon in dry coated electrodes were overly optimistic. The only correct way to view the challenges (in my humble opinion) and to create a reasonable path to adoption is to understand three basic principles: (1) The incorporation of any new technology into the EV battery supply chain is a step-by-step journey of solving a myriad of problems and “learning by doing”. The technology stack for EV batteries is continuously evolving with stringent sets of specifications where everything is tuned up to increase performance, while reducing risks and costs. Too many claims are based on testing cells with specs that have nothing close to that of commercial cells. (2) The economics of EV batteries are completely different from that of other applications (whether consumer or eVTOL, etc.). The idea that new technologies can be introduced at a premium pricing and over time be broadly adopted is no longer reality. The economics must include comparison with global alternatives and must price the cost of capital, the cost of capital depreciation, and the costs of risks (whether failure risks or IP risks). (3) The only viable way for paving the way to broad adoption is collaboration with large industrial partners along the entire EV supply chain. Too many startups are trying to do too much by themselves. Focus is key, whether in terms of technical work or business development activities. A few areas of specialization and a few key industrial partners. Less is more. Just my 2 cents.

As EVs surge in popularity, understanding a vehicle's battery health becomes crucial.   The Seattle-based startup, Recurrent, offers a software solution - comparing EV batteries without hardware - to assess their value and lifespan.   With a backing of $19.25 million and a growing platform of 20,000 drivers, Recurrent is setting the pace for evaluating and valuing used EVs. Read more: #ADAS #Calibrations #EVBatteries  

🎉 Our last pitch hour featured e-REVOLT, which enables the conversion of combustion engine vehicles to EVs, minimizes waste and dramatically reduces the cost of owning an electric vehicle. Sebastian Hunold, Managing Director of e-Revolt, explained how the company’s plug-and-play conversion kit enables a true circular economy, creating a great alternative to buying new electric vehicles - saving money and valuable resources and reducing carbon footprint. If you are an Automotive Corporate or a potential investor interested in e-Revolt, drop a comment below. Are you a Startup creating innovative solutions in the V2X market ❔ Apply by 🗓️ February 12th to join our upcoming pitch hour. https://lnkd.in/g6tkeU9Q Stefan Sellschopp Benoit Ducorps Carmel Rafaeli Kazuna Yamamoto Alexandre Viallet-Sakellariadou Juan Pablo Hernández Soto Anitya Vilekar Hanqiao YIN #AutomotiveInnovation #StartupOpportunity #TechInnovation #SustainableMobility #mobilitysector #artificialintelligence #electromobility #BigData #investors #automotiveindustry #vcfunding #investors #technology #sustainability #mobility #electricvehicle #v2x

🔋#AlphaOmega a Korean Startup, unveils a revolutionary on-demand portable EV charging solution In a recent development, AlphaOmega has created portable chargers that can swiftly offer an impressive 200 km of range within a mere 40 minutes, conveniently brought to the location chosen by the customer. Furthermore, this innovative service directly tackles a significant issue in the realm of electric vehicles: the limitations posed by the existing EV charging infrastructure. This device provides EV owners with the ability to manage their EV charging requirements, effectively eliminating typical concerns related to locating accessible charging stations. Have you heard about these chargers before? P.S. KoreaTechDesk thanks for the insights! #ev #evcharging #evchargers #charginginfrastructure #chargingexperience #techstartup

Faraday Future Intelligent Electric shares edged higher in extended trading Monday after the #electriccar startup announced a narrowing second-quarter loss.  In the period ended June 30, the Gardena, California company posted a loss of $124.9 million, $0.10 per share, compared to $141.7 million, or $0.44 per share, a year earlier.  Faraday Future generated no revenue, but the company says that’s about to change.  "Looking forward in the third quarter, we expect to have cash from vehicle sales, as well as financing from existing commitments and effective registration statements to help fund cash needs as we ramp up vehicle production," the company said in a statement.  Faraday also plans to triple the size of its manufacturing team in the coming months and add a second production shift to increase volume.  More at #Proactive #ProactiveInvestors #ElectricVehicles #EVs #ElectricAutomotives #EVManufacturing http://ow.ly/YsUj104RPaK

Week 18 of GreenWealth's #WeeklyNewsRoundup ⚡ 🚀 EV Charging Startups: Venture funding for EV charging startups is soaring, with billions raised to meet the rising demand for electric vehicle infrastructure. https://bit.ly/gwenews87 🌱 Cleaner Cars, Fatter Wallets: The NRDC report shows how switching to electric and hybrid vehicles can save money and reduce emissions. https://lnkd.in/gXTMXZHw 🤖 AI and EV Charging: The University of Michigan and Utilidata use AI to optimize EV charging, improving grid efficiency and reducing costs. https://bit.ly/gwenews89 🔌 Porsche and ChargePoint: Porsche has integrated the ChargePoint network into its Charging Service app, providing access to over 115,000 charging ports across North America.  https://bit.ly/gwenews90 #EVCharging #EVCharginginfrastructure #EVChargingNews #GreenWealthEnergy

Clean-tech startups continue shining and attracting new investments 🔋 Recurrent recently raised $16 million, and it highlights an increasing focus on clean energy and climate change. This startup helps with used EV battery analytics and provides scores for battery health on consumer sites. Do you know any other projects in the field of battery data analysis? Tag them below! --- #evbattery #secondlifebatteries #batteryanalytics #batterydata #batterypassport

Check out how Toronto-based #EV charging startup SWTCH is playing an important role in giving back to the electricity grid in this latest The Logic article by Anita Chauhan.

Our colleague Margret Dupslaff wrote today in TechCrunch about startups' vital role in closing the global Electric Vehicle (EV) charging gap (read more ⬇️). She discusses multiple market opportunities for startups—from leveraging AI for smart energy to designing flexible charging solutions— all of which point to a pivotal moment for EV adoption. With the world at an inflection point for EV adoption, it's time we take a closer look at how emerging companies can not only fill the gaps but also redefine the future of mobility. 🚗🔋🌍 #EV #Startups #Innovation #Collaboration