Top Electric Car Startups Innovating The Industry
Electric vehicle (EVs) also known as battery electric vehicle (BEVs) as it uses an electric motor to run the vehicle instead of the internal combustion engine. EVs are better for the environment as they emit fewer greenhouse gases and air pollutants as compared to petrol or diesel cars. Nowadays, electric cars are becoming more popular as the electricity for recharging an electric car is cheaper than the cost of gasoline and sustainable due to Zero Tailpipe Emissions. The idea of an electric vehicle seemed like a distant fantasy. However, we can now expect most of the vehicles to be electric by 2032.
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The major challenge in EVs is the lack of charging stations, high initial cost, and charging time. Businesses and startups have been developing to get beyond all the obstacles of Electric vehicles. Top startups such as Tesla is establishing fast charging stations to attempt and fix the charging issue, Etrel developing interactive smart charging stations, and Enevate is developing high-density battery technology that can charge a vehicle in five minutes, making EVs as convenient as gas-fueled cars.
Top Electric Vehicle Startups:
1. Rivian
Country: USA | Funding: $10.7B
Rivian is building an electric sport utility vehicle (SUV) and a pickup truck on a “skateboard” platform that can support future vehicles. It has adopted a sustainability strategy and has taken a plea for net-zero carbon emissions by the year 2040. Rivian battery packs are designed in such a way that they can be easily removed from vehicles. They can also be recycled or can be used in “second life” applications such as stationary storage. The company has used 100% animal-free material with mid-life repairability and end-of-life recyclability for the interiors of vehicles.
Rivian is building a nationwide network of DC fast chargers. Over 3,500 DC fast chargers are planned at approximately 600 sites. The company is further providing automatic charging, just pull up and plug in and in-vehicle navigation plans to search for charging stops.
- Rivian and TNC announced a collaboration dedicated to preserving biodiversity and fighting climate change.
- Amazon and Rivian have planned to bring thousands of custom electric delivery vehicles to more than 100 cities by the end of 2022
2.Tesla
Country: USA | Funding: $20.2B
Tesla is an American multinational automotive and clean energy company headquartered in Austin, Texas. Tesla designs and produces electric vehicles, residential and grid-scale battery energy storage, solar panels, solar roof tiles, and related goods and services.
Tesla has developed the supercharging network which is a 480-volt direct current fast-changing technology that allows you to stay charged on the go. It is a plug-in charger at a convenient location i.e., over 35,000 superchargers are installed across the globe that gives you the freedom to travel.
Tesla has also developed Wall Connector which is an efficient and convenient home charging solution that lets you plug your vehicle in overnight and start your day charged. Over 35,000 Wall Connectors are installed at Destination Charging locations such as hotels, vineyards, etc.
The Tesla Roadster is powered by Lithium-ion (Li-ion) batteries. The battery system or Energy Storage System comprises 6,831 individual Li-ion cells. These Li-ion batteries are a whole lot better than Nickel-Metal Hydride (NiMH) cells and lead acid cells found in EVs.
Tesla’s network contributes significant strengths to the wider charging infrastructure. Tesla plans to start offering charging to non-Tesla electric-vehicle owners through its U.S. Supercharger network.
Country: USA | Funding: $6.8B
Lucid Group is an American electric vehicle manufacturer headquartered in Newark, California. Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience.
Lucid Air’s built-in Wunderbox is one of the beasts of a battery charger with 900V+ charging technology. It is one of the fastest EV charging systems and can fill up to 300 miles of charge in about 22 minutes. The charging system is compatible with every public charging station and has a very high speed. The EV maker has also announced plans to add a bi-directional charging capability to its EV cars in the coming year.
Air’s Wunderbox boost charger works at almost all public charging stations. It can automatically recognize your Air, adjust incoming voltage, and boost voltage for the quickest possible charge.
For the battery pack in the Lucid Air, the company chose cylindrical lithium-ion cells from LG Chem in 21700 format (21 mm wide by 70 mm tall). Each of these cells possesses roughly 17 Wh of power. With this amount of power per cell, Lucid determined that it would need around 6,000 individual cells (6,000 * 17 Wh = 102 kWh) to achieve a range of 400 miles.
The EV producer is working on a new electric SUV and the company has planned to launch this future EV by the end of 2023.
Lucid is expecting to accumulate a planned Capex investment of around $350 million through 2021- 2023. Moreover, the automaker expects to increase this investment to 6-7% during 2021 and 2026.
4.Nio
Country: China | Funding: $5.4B
NIO is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles.
NIO Power has provided us with mobile internet-based power solutions with extensive networks for battery charging and battery swap facilities. It offers a power service system with chargeable, swappable, and upgradable batteries enhanced by Power Cloud to provide users with power services.
NIO Power Home: Neo provides chargers for home charging. It has the following salient features:
- Connectivity-enabled seamless plug-and-charge experience
- Remote Control via App
- Automatic matching voltage fluctuation for stable charging
- Set authorized users to avoid unauthorized usage
- Multiple user capability to make charging more accessible
NIO Power Swap: Fully automatic battery swap in just a short time.
NIO Power Swap takes only 3 minutes* to swap a fully charged battery. To keep the vehicle and battery in good condition automatic battery and electric system checks are performed during each swap.
NIO Power Charger: This is the slimmest DC charger in the world and can charge 20% to 80% battery in just half an hour. NIO Power Charger is capable of charging at up to 180kW providing us with fast, smart, and reliable charging services for both NIO cars and non-NIO new energy vehicles in public charging scenarios.
Power Mobile: 10 min charge for 100 km range. This charging is a flexible and convenient portable power bank for your car. With the NIO app, Power Mobile can charge your car.
- NIO has applied for 3,184 patents worldwide
- NIO has a total of 2,768 patents in China, 204 patents in Europe and 193 patents in the United States. It also has 13 patents in South Korea and 7 in Japan.
- NIO has disclosed its third-generation battery swap stations which are nearing completion and awaiting installations in late 2022 or early 2023.
- NIO is also planning to start producing an 800-volt battery pack in the second half of 2024.
5.Xpeng
- Chinese company XPeng produces electric vehicles and has its headquarters in Guangzhou.
- In November 2018, XPeng began manufacturing its first product, the XPeng G3 SUV. In December 2018, it introduced the G3. In April 2019, the P7, a four-door electric car, the second model, made its debut. In order to serve Guangzhou, XPeng began a vehicle-for-hire business in May 2019.
- Xiaopeng and Alibaba Group each held 23% and 12%, respectively, of the shares of XPeng as of May 2021.
- XPeng’s subsidiary HT Aero had discloses launch date of flying automobile will be 2024 and $500 million investment.
Lightning-Fast Charging through supercharging technology :
Xpeng has developed a 400 KW High voltage lightweight and an easy-to-handle power charger for fast charging. Xpeng charger delivers superior, safe, and convenient charging with 670A+ flow rate capacity, liquid cooling, IP67 protection, lightweight ultra-thin cable connectors, and built-in safety monitoring chip.
Charging Network: XPENG is provided customers with 772 branded supercharging stations, 1870 free charging stations, and about 319 cities with free charging services.
XPeng is using LFP batteries which were developed by China’s largest battery developer, Contemporary Amperex Technology (CATL).
With its thorough coverage of urban roads and industry-leading smart driving assistance architecture, XPILOT 3.5 is built to provide maximum driver convenience and aid while assisting with difficult and complex city driving situations.
Xpeng ranked in the Top 20 applicants in China’s automobile sector with 742 patent applications published in 2019.
XPeng announced 9,578 vehicles delivered in August 2022 which is a 33% increase year-over-year and 90,085 total vehicles delivered in the first eight months of 2022, a 96% increase year-over-year.
Country: USA | Funding: $3.2B
Nicola Motors is an American company that produces heavy-duty commercial battery-electric vehicles as well as fuel-cell and energy-efficient cars.
From 2016 through 2020, it developed a turbine-electric semi-truck that ran on natural gas.
On June 4, 2020, the company went public. The business anticipated delivering between 300 and 500 of its first Nikola Tre battery-electric semi-trucks to clients in February 2022. In December 2021, the business delivered its first two battery-electric trucks.
Nikola reportedly delivered 48 automobiles to dealers on August 4, 2022, and recorded an $18.1 million revenue.
As production of its Tre BEV electric semi-trucks scaled up, Nikola Corporation’s Q1 2022 financial statements revealed increasing costs.
In the first three months of the year, the corporation reported a greater net loss, up from Q1 2021’s $120.2 million to $152.9 million. Nevertheless, Nikola exceeded Wall Street’s projections for the quarter by reporting services-related revenue of $1.9 million. Despite this, the corporation did not make money from the selling of trucks.(link)
Accelerating zero-emissions with innovative energy solutions
- Technology Agnostic: Achieving zero emissions is not a zero-sum game. Battery-electric & hydrogen fuel cell electric technologies both have an important role to play.
- Electric Solutions: Battery-powered automobiles can now run-on electricity. Large battery charging for commercial trucks still has several issues, though. Complications including grid capacity, the best times to recharge, and infrastructure for efficient operations are still present. With our mobile charging solutions, Nikola Solutions focuses on advising you at every stage and assisting with the switch to permanent charging infrastructure.
- Hydrogen Solutions: Hydrogen is clean efficient and abundant source with high density then diesel. It emits zero carbon with water as the only byproduct when used to make fuel cell EV. Nikola is working to deliver a hydrogen fuel cell truck and also working together to build the infrastructure to make hydrogen conveniently accessible at a competitive cost.
- Consulting: Solutions for charging electric vehicles safely, dependably, and effectively will be offered by Nikola. You can choose and install an EV charger with the assistance of Nikola’s knowledgeable advisors. Since every EV infrastructure project is different, electric vehicle consultancy involves a wide range of activities. When deciding whether to install EV chargers and management software, if desired, there are numerous choices to be made.
- Mobile: Access to EV operations can be accelerated with the help of Nikola’s Mobile Charging Trailer (MCT). Simple-to-implement MCT can get you on the road to zero-emissions very quickly, while others must wait for licenses and the creation of recharging infrastructure. This will enable you to concentrate on how you want to run and expand your EV fleet before you pay a big capital expense. Knowing how you want to use your electric vehicles will make moving to a long-term infrastructure strategy easier.
- Infrastructure: The Tre BEV ecosystem includes the facilities for charging electric vehicles. The transition to zero emissions will be supported by Nikola’s entire solution, which he will walk you through. Our charging ecosystem will consist of networking, smart charging software, fixed DC fast charging infrastructure, cooperating with power utility providers, permitting needs, and projected project dates.
Country: India | Funding: $861.2M
Ola Electric Mobility is a Bengaluru-based producer of electric two-wheelers in India. Its production facility is at Krishnagiri, Tamil Nadu, India. As a wholly-owned subsidiary of ANI Technologies, the company that owns Ola Cabs, Ola Electric was founded in 2017. To transition to mass electric mobility and minimize Ola’s cabs’ dependence on fuel, the company was founded. In May 2017, a pilot program was begun in Nagpur by installing charging stations throughout the city and purchasing electric taxis, e-buses, and e-rickshaws from OEM partners. The company has a vision & aims to have 1 million electric vehicles in 2022 (Mission Electric 2022).
The company has the vision to build India’s largest factory i.e. “OLA Future Factory”. The Future Factory is a representation of diverse individuals working together to accomplish the impossible. Annual Production Capacity 4-wheelers – 10 Lakhs, 2-wheelers – 1 crore & Batteries – 100 Gwh. This factory would be the largest 2W factory, built-in record-breaking speed. Premises are equipped with advanced machinery / 3000+ robots which are led by humans. The said factory has a 100% women workforce & also have one of the world’s most sustainable factory with 10,000 Trees replanted, 1 lakh liters of water saved & zero CO2 emissions.
With a $500 million investment, the organization is also constructing a cutting-edge Battery Innovation Center (BIC) in Bangalore, making it one of the largest and most sophisticated cell R&D facilities in the world and housing over 500 engineers. The company is also aiming to develop its cell technology, such as OLA’s Indigenous Li-Ion Battery, to scale more quickly and revolutionize the EV market.
Country: China | Funding: $5.3B
Headquarters: Shanghai, Shanghai, China.
Bin Lu, Hui Shen, and Ligang Du launched WM Motors in 2015. WM Motor is a manufacturer that creates, produces, researches, and sells energy- and battery-powered vehicles. It offers its clients energy vehicle goods and transportation services. The business seeks to conserve electronic vehicles as well as intelligent data gear, giving customers access to effective and energy-saving smart cars. The Living Motion electric powertrain, the Living Pilot intelligent driving assistance system, and the Living Engine operating system, which delivers market-leading smart connectivity and interactive features, are the three basic technologies on which WM Motor’s products are built.
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