Transportation

Einride founder on building an underlying business to support future tech goals • ZebethMedia

By zebethcontrolPosted on November 20, 2022Posted in autonomous vehicles, EC AI, EC Founder Interview, EC Mobility Hardware, EC Mobility Software, einride, self driving vehicles, Startups, TransportationNo Comments

Swedish startup Einride was founded in 2016 with a mission to electrify freight transport. Today, that means designing electric trucks and an underlying operating system to help overland shippers make the transition to electric. In the future, it will mean deploying electric autonomous freight — more specifically, Einride’s autonomous pods, which are purpose-built for self-driving and can’t accommodate human drivers. Einride founder and CEO Robert Falck told ZebethMedia a year ago that he felt a moral obligation to create a greener mode of freight transport after spending years building heavy-duty diesel trucks at Volvo GTO Powertrain. On top of that, he saw the need to eventually automate the role of long-haul trucking. Falck, a serial entrepreneur, decided against the route many autonomous trucking companies have taken — doggedly pursuing self-driving technology, even if it meant putting sensors and software stacks on diesel vehicles. Rather, Falck chose a two-step process to bring Einride to market. The first involves working with OEM partners to build electric trucks and partnering with shippers to deploy them and earn revenue. That revenue then goes back into the business for the second step, which is the development of an autonomous system. By the time Einride is ready to go to market with its autonomous pods, it will ideally already have a range of commercial shipping partners in its pipeline. Einride’s current shipping clients across Sweden and the U.S. include Oatly, Bridgestone, Maersk and Beyond Meat. The company said it clears close to 20,000 shipments per day. Over the past few months, Einride has completed a public road pilot of its electric, autonomous pod in Tennessee with GE Appliances, launched its electric trucks in Germany in partnership with home appliance giant Electrolux, announced plans to build a network of freight charging stations in Sweden and Los Angeles, and introduced its second-generation autonomous pod. We sat down with Falck a year after our initial interview with him to talk about the challenges of reaching autonomy when connectivity on the roads is lacking, why the Big Tech crashes are actually healthy for the industry and what consolidation looks like for autonomous driving. The following interview, part of an ongoing series with founders who are building transportation companies, has been edited for length and clarity.

Hyundai launches home charging ecosystem as part of EV push • ZebethMedia

By zebethcontrolPosted on November 20, 2022Posted in Electrum, hyundai, LA Auto Show, solar, TransportationNo Comments

Hyundai announced this week at the LA Auto Show a new way for its customers to charge at home as part of the company’s efforts to woo a new group of EV buyers. Hyundai Home, the automaker calls it, incorporates solar panels, energy storage and EV charging for Hyundai owners. Hyundai announced a partnership with Electrum, a solar panel, home battery and heat pump installer, which will help customers in 16 states find the right power installers and systems for their EV charging needs. With the new partnership, consumers in Arizona, California, Colorado. Connecticut, Florida, Illinois, Maryland, Massachusetts, Maine, Missouri, Nevada, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Virginia, and Washington can now work with Electrum advisors to find the best and most affordable power solutions for them. Prior to this week’s announcement, dealers were helping customers get in touch with local installers and power suppliers in order to get charging and storage set up for their new Hyundai EVs like the Ioniq 5, according to Ian Tupper, the senior group manager of strategic environmental partnerships at Hyundai. “With Hyundai Home, we’re really trying to democratize, not only EV charging and being able to adopt an electric vehicle, but the entire ecosystem around it. We want to make it easy for customers to go solar to get energy storage and to eventually use all those systems together to reduce their energy bill,” Tupper told ZebethMedia during an interview at the LA Auto Show. Making EV charging more accessible As the U.S. increasingly makes a push to reduce carbon emissions, especially those from tailpipes (aka fossil-fueled powered vehicles), states like California have banned the sale of new gasoline vehicles by 2035. That means that an increasing number of Americans are going to be looking at EVs, PHEVs and hybrids for their next new car purchase. Yet, rentals make up roughly one-third of American housing, according to the U.S. Census and most of that housing stock is older, which means that in order to get access to at-home charging, landlords will have to be willing to invest to upgrade panels and provide charging access in multifamily garages. The average cost to upgrade a single family home’s electrical panel to handle charging a vehicle at home, can run between $1,300 and $3,000, or more. Add that into the high price of battery-electric, hybrid and plug-in electric vehicles and many people wont be able to afford or access home charging, especially those who live in multifamily buildings without access to home charging. That’s something that Tupper says Hyundai is taking into consideration, but he wasn’t able to share any concrete details around future plans. “If we want to achieve mass adoption, we need to solve that problem for renters and so we’re attacking it in a couple of different ways. First through our partnership with Electrify America. We’re working with them to incentivize to construction of as much charging infrastructure as possible and we’re trying to give it to customers for free,” Tupper told ZebethMedia. “We’re taking a strategic partnership approach and trying to identify the players right to offer, really a smattering of solutions. If there’s a city where, you know, we can help support the production or the development of charging hub, great. But if there’s a way for us to even incentivize low-power AC Charging. We’re going to take a look at that as well.” Tupper says that Hyundai is working with its partners like Electrum to bring more charging and power storage options to more customers in other states outside of the 16 that Electrum currently services, too. “We’re just starting out,” Tupper said, “Our guiding principles are that customers not only get the right products, but they also get the right products at the right price. Electrum helps us help the customer find the right solution on the marketplace, that way we’re actually able to deliver, usually a substantially better deal than something that they would normally just get by going to a local provider.”

Gopuff launches scheduled deliveries, gifting and in-store pickup • ZebethMedia

By zebethcontrolPosted on November 19, 2022Posted in Apps, goPuff, grocery delivery, on-demand delivery, Startups, TransportationNo Comments

Rapid grocery deliver startups like Getir, Gopuff and Gorillas, once heralded as the next big thing in on-demand ordering, are running up against logistical challenges that might very well be insurmountable. Even faced with competition and sky-high operating costs, though, they’re taking what steps they can to stick around. Case in point, Gopuff today launched features aimed at eliminating some of the platform’s biggest pain points, like the inability to schedule orders ahead or pick up orders from nearby stockrooms. Starting today, Gopuff customers can place an order when the Gopuff marketplace closes — the exact hours depend on the market — to have Gopuff deliver the order as soon as it reopens. (Needless to say, this doesn’t apply to locations where Gopuff delivers 24/7.) Alternatively, customers can schedule an order in advance for a specific date and time, similar to most major food delivery apps, or arrange for an order to be picked up where Gopuff offers retail and in-store shopping. The in-store shopping experience remains rather limited. According to Gopuff, only in BevMo! outlets — recall that Gopuff acquired BevMo!, the alcohol retailer, for $350 million in 2020 — and locations in New York City is shopping in-store an option. Strictly pickup of online orders will be offered at “many” locations, however, Gopuff says (it’s unclear just how many), with the hours mirroring that of in-app ordering. Gopuff is also introducing gifting, which will allow customers to add gifts to their cart for recipients both on and off the platform. Once they enter the recipient’s address, name and phone number and a gift message, both the gift recipient and the sender will receive a text message confirming a gift order is being prepared. The recipient will also receive SMS alerts when the order is close by, delivered or canceled. Somewhat concerningly, Gopuff didn’t respond to ZebethMedia’s question about whether gift recipients’ information will be retained for marketing or other purposes. Gopuff, like many app-based products and services, collects a broad swath of personal information that it reserves the right to use for ad targeting and promoting its subscription services, as well as sharing with third parties including business partners and “affiliates and subsidiaries.” The new features are only available via the latest Gopuff app (version 8.1.0), the company notes, which began rolling out nationwide this morning. While Gopuff has partnerships with Uber and Just Eat Takeaway to make its inventory perusable through Uber Eats and Grubhub, respectively, the company says that customers using those platforms won’t be able to take advantage of order scheduling, gifting and pick-up — despite the fact that Uber Eats and Grubhub support those features for most other businesses. Gopuff has had a rough go of it lately, no pun intended. Originally intending to IPO as soon as mid-2022 after tapping ex-Disney CEO Bob Iger as an advisor and investor, Gopuff this summer pulled out of Spain, one of its markets, to slash costs, and laid off 10% of its global workforce. Further cuts hit Gopuff in October — mainly affecting various customer service departments — as the startup reportedly looked to secure a credit line as high as $300 million to buffet against inflationary headwinds.

VinFast’s bid to attract U.S. buyers includes 4 all-electric SUVs and maybe a sports car • ZebethMedia

By zebethcontrolPosted on November 18, 2022Posted in EV, LA Auto Show, Transportation, VinFastNo Comments

VinFast showcased four battery-electric SUVs at the LA Auto Show this week and even hinted at a sports car as the Vietnam-based automaker pushes ahead with its plan to break into the U.S. market. The four EVs, which ranged in size from small five-passenger crossovers to large 7-passenger SUVs, is part of the company’s effort to resonate with U.S. consumers. In an EV market that now has just about every automaker jumping in, it may take more than simply offering SUVs. Although choice is part of the plan, according to Craig Westbrook, the Chief Service Officer of VinFast U.S. Vinfast’s plan is to flood the space with plenty of options so that Americans get familiar with the new brand, Westbrook told ZebethMedia. The executive also hinted that by this time next year, VinFast may show off a sports car for the U.S. market. “We need a product offensive,” Westbrook said in an interview at the LA Auto Show. “We need to come to market strong. We don’t need to trickle down or ease out models and buying opportunities for the few. So within probably less than a 12-month period, you’ll have all four models, all SUVs across these four major size and price segments.” Vinfast expects to bring two SUVs, the VF6 and VF7, to market by early 2023. The VinFast SUVs Vinfast VF6 VinFast showed off the VF6, VF7, VF8, and VF9 at the LA Auto Show, and offered ride alongs in the five passenger VF8 outside the convention center. Unlike last year’s auto show, where the company showed off global vehicles the VFe36 and VFe35 with no interiors, the VF6 and VF7 had interiors that customers and media could poke around to get a feel for what the new-to-the-U.S. company might deliver. In the two short laps around the tiny test track in front of the LA Convention Center the VF8 felt like any other EV crossover — the weight of the battery pack that VinFast estimates will get up to 292 miles of range, is apparent, especially over uneven bumps. The vegan leather interior and large central screen make the interior feel luxurious and surprisingly ample. A large dual pane roof makes the backseat feel spacious and open, and the ride in the rear is equally engaging. Westbrook said that the VF8 and VF9 vehicles are currently on their way to the U.S. and should be delivered to buyers in early 2023. Globally, VinFast says its taken 65,000 reservations for the VF8 and VF9, but the company didn’t have a specific breakdown for North America at the time of our interview. Most of those orders are coming to California, according to Westbrook, and customers, are according to Westbrook’s observation, are mostly those who are making the first time EV-leap. California focused “Most of the pre-orders have taken place here, [California],” Westbrook said. “California is easy. This is where headquarters are and where a port is, and so, we’re going to serve these customers first. Obviously we want to look at all our customers, but that’s going to be the first way that we can try to splash into the market is effectively as possible.” VinFast currently has six retail locations open in California, all located in shopping malls where people can come in and check out the vehicles, much like a Tesla store. Westbrook says that some of the first vehicles coming off the boat from Vietnam will go to stores so that more potential customers can get into the vehicles and test drive them. Westbrook said that many of the reservation holders have not come to the point in the buying journey where they have to decide between opting for the company’s somewhat controversial battery leasing program, or buying their vehicle outright. When asked about the reception that reservation holders had to the battery leasing option, Westbrook said “We’ve seen sort of growing acceptance and interest in the option.” During the presentation at the LA Auto Show, Westrbook noted that Vinfast recently took an order for 2,500 vehicles from the car subscription company, Autonomy, which generally deals only in Teslas. New warranty and service options VinFast’s goal is to make the transition to battery-electric as barrier free as possible for new customers. Westbrook said, and to that end, the company announced more details of its bumper-to-bumper warranty, offering an industry-leading 10-year and 125,000-mile of coverage and a 10-year, unlimited mile battery warranty that the company says is designed to offer EV customers peace of mind as they transition to electric driving. The company also announced a mobile service that will come to customers or offer ride share options if customers get stranded. “I would say that when it comes to quality, people have an expectations, and we have to meet them,” Westbrook said “We do understand that that when you purchase car over here and our service point is over there, you may not want to come to us. So we can help you, right? And that’s part of our model. It’s not being forced into something. We realize that’s what you want as a customer.”

Autonomous delivery startup Nuro lays off 20% of workforce • ZebethMedia

By zebethcontrolPosted on November 18, 2022Posted in TransportationNo Comments

Nuro, the autonomous vehicle delivery startup backed by Softbank, Google and Tiger Global Management, is laying off about 300 people, or 20% of its workforce in an effort to preserve cash amid a stormy economic outlook, according to an email sent to employees this morning. Several Nuro employees posted on Twitter and LinkedIn this morning that they had been affected by the layoffs. In the email viewed by ZebethMedia, co-founders Jiajun Zhu and Dave Ferguson informed employees they would receive an update later this morning letting them know if they are impacted by this layoff and with information on next steps. The co-founders said they take responsibility for the layoffs, which were the result of over-hiring in 2021 smacking into uncertain economic headwinds in 2022. Each and every one of you have made important contributions to this company, and saying goodbye to talented Nurons is not a decision we have taken lightly. For those of you leaving Nuro, we are very sorry for this outcome — this is not the experience we wanted to create for you. We made this call and take full responsibility for today’s circumstances. Ferguson and Zhu wrote that in 2021, it was the “strongest fundraising environments in history.” “We saw an abundant supply of capital for deep tech companies and almost all companies were aggressively hiring and expanding,” they wrote, adding that “In that environment, we determined it made sense to invest heavily across the board and grow our team rapidly.” That led the company to double the size of its team in less than two years and significantly increased operating expenses based on an assumption that the funding environment would remain robust. “This was a mistake,” they wrote. Macoreconomic conditions in 2022, which has included inflation and an impending U.S. recession, prompted the founders to slash costs, including cutting its workforce in an effort to extend its capital runway into 2025. The company said Nuro still has more than $1 billion on its balance sheet, the pair wrote. Laid off workers are being offered 12 weeks of severance pay and up to 14 weeks for those who have been with the company more than two years. The company will also pay out bosnuses to those who are eligible, and are waiving the one year vesting cliff on the equity front. Nuro will subsidize 100% of COBRA healthcare premiums (including families) through March 31, 2023, will provide career transition support and visa holders will also receive some notice period to ease this transition and if applicable, travel assistance, the email said. While the company has made progress and is operating in Houston, Palo Alto, and Mountain View, California, it’s also pulled back operations in at least one area. The company closed its Phoenix facility this summer as it shifted its commercial strategy away from the desert metropolis and toward the San Francisco Bay Area and Houston. Story is developing.

China’s EV upstart Nio switches on power swap station in Sweden • ZebethMedia

By zebethcontrolPosted on November 18, 2022Posted in China, electric vehicles, Europe, EV, nio, Sweden, TransportationNo Comments

Electric vehicle startup Nio is accelerating its expansion in Europe. The premium EV maker just launched its first power-swapping station in Varberg, Sweden, the company said in a LinkedIn post. When it comes to charging, Nio differentiates itself from its rivals by offering swappable batteries, which are upgradable and charge a monthly subscription fee, on top of the traditional plug-and-charge model. In its home market China, Nio’s battery-swapping systems are popping up around trendy malls and office highrises, and it’s taken the novel concept to a noticeable scale. As of November 6, the company had installed 1,200 of these swapping stations across China. The idea is to enable EV charging as fast as refueling a petrol car. The company said on its November earnings call that it planned to install 20 power swapping stations across Europe by the end of 2022 and increase the tally to 100 by next year. Nio began expanding in Europe last year, starting out in Norway, which has been aggressive in pushing EV adaption. Xpeng, Nio’s Chinese rival, also picked Norway as the first stop in its European expansion. Nio is setting itself up for an uphill battle in a crowded auto market in Europe, but it seems determined in growing its presence on the continent. Headed by the charismatic, English-speaking serial entrepreneur William Li, Nio hosted a splashy launch event in Berlin, which marked its official market entry in Germany, the Netherlands, Denmark, and Sweden. The company began by offering lease-only for its models in all European countries except Norway but shortly added the option for customers to purchase the vehicles after initial market feedback. It’s also ramping up its operational footprint in Europe, with an R&D center in Berlin to work on “localized development and deployment of digital cockpits and to continuously improve the intelligent digital experience of local users,” said Li on the earnings call. The carmaker now operates “Nio Houses“, which are essentially product showrooms and customer clubs, in ten major European cities. Possibly in a move to diversify supply chains from China, Nio recently began manufacturing products including its power swapping facilities out of Hungary and shipped its first Hungary-made swapping station to Germany in September.

GM says supply chain issues won’t affect EV profitability by 2025 • ZebethMedia

By zebethcontrolPosted on November 17, 2022Posted in electric vehicles, General Motors, GM, TransportationNo Comments

General Motors says supply chain constraints won’t hinder the automaker’s goal of reaching electric vehicle profitability by 2025. GM expects its EV portfolio to have “the same margin profile” as its internal combustion engine portfolio over the next three years once factoring in U.S. tax credits for cars and trucks, CEO Mary Barra said Thursday at GM’s investor conference. The automaker expects to generate more than $50 billion in revenue from sales of its 30 EV models in 2025, with profit margins in the low to mid single digits. Investors have been skeptical of GM’s promises, citing macro headwinds like increased battery raw material costs. Doug Parks, GM’s executive vice president of global product development, purchasing and supply chain, admitted that those costs could put GM’s targets at risk. However, Parks said a combination of increased efficiencies in GM’s Ultium EV platform — which is the underlying EV and battery architecture that will help GM scale its EV lineup — and supply chain agreements that are locked in through 2025 will reduce those macro impacts. “GM has signed binding agreements to secure the battery raw materials to support 1 million units of annual capacity in North America by 2025,” said Parks. “These are not just handshakes, these are not just meetings or MOUs.” GM is hoping to reduce cell costs by nearly 40% to an $87 per kilowatt hour by 2025, and then down to a $70 per kilowatt hour from mid to late decade. The automaker’s stock experienced a mid-day spike, rising 1.75% at around 1:45 pm ET. At market close, GM’s share price settled at an increase of 0.39%. GM’s supply chain landscape Parks highlighted GM’s agreement with Livent to source lithium hydroxide from its North American facility starting in 2025, a strategic investment and collaboration with CTR to source lithium from the Salton Sea in California using a closed loop geothermal process, and an agreement to secure sustainable cobalt from Glencore’s Murrin Murrin mine in Australia. In addition, GM has made a strategic investment in Queensland Pacific Metals for cobalt and nickel processing in Australia, as well as a long-term agreement with Vale for high-grade nickel sourced and processed in Canada. “We also have an agreement with LG Chem for enough cathode active material through 2030 for the equivalent of 5 million units of EV production, a joint venture with [South Korean steel-making company] Posco on a plant in North America, which we expect will open in Quebec in the first quarter of 2025.” In the interim, Posco will supply GM with materials from their South Korean operations, said Parks. Parks added that GM has price controls in place for lithium that will dampen the volatility and pricing the market has seen over the past year. He noted the new clean energy tax credits will help GM accelerate its process of creating a domestic supply chain for EVs in North America. “The credits are very much in line with the strategy we’ve been executing for the past few years and will enable us to increase our footprint domestically with Free Trade Agreement partners.” GM is also working with recycling affiliates to take scrap from battery cell plants and return critical materials to make new batteries or even sell materials at market rate, said Parks. Beyond battery cells, Parks said GM has long-term supply agreements in place with key EV motor component suppliers, including binding agreements with GE to support the development of a North American and European base rare earth copper and electrical steel value chain. Many of these agreements are in place to help the company scale cell production rapidly once its four battery plants are underway. GM said its Lordstown, Ohio plant has already opened, with Spring Hill, Tennessee close behind. The automaker is also building a plant in Lansing, Michigan, and is exploring a location in Indiana for its fourth plant. Until those factories come online, GM is still mainly buying cells, which is a roadblock to high EV margins today.

Fiat CEO teases subscriptions, car-sharing for all-electric 500e launch in US • ZebethMedia

By zebethcontrolPosted on November 17, 2022Posted in electric vehicles, fiat, LA Auto Show, Stellantis, TransportationNo Comments

Stellantis plans to “explore alternative business models,” such as subscriptions and car sharing, when it launches its all-electric Fiat 500e in the U.S. in the first quarter of 2024, Fiat CEO Olivier Francois told ZebethMedia at the 2022 Los Angeles Auto Show. The exec did not rule out limiting the 500e’s U.S. launch entirely to subscriptions come early 2024, saying: “Maybe you will never have a price. Maybe it will just be usership. Maybe there will be there will be a combination of both.” The executive added cryptically, “There will be a healthy dose of digital, that’s for sure. We all collectively need to reinvent the business model.” The all-electric Fiat 500e launched in Europe in 2020 and is considered a massive success for Stellantis. Whether it will be embraced by U.S. buyers is unclear. The original 500e, which was essentially a retro’d version of an internal combustion version of the same model, didn’t fare so well and was largely regarded as a compliance car in the U.S. This time, Francois suggested it would be different. When the Fiat 500e comes to North America in early 2024 it will have an estimate range of more than 150 miles, the ability to charge the battery up to 30 miles in five minutes and will come with an advanced driver assistance system that provides “Level 2+” features such as lane centering and adaptive cruise control, traffic sign recognition, blind spot detection and 360-degree parking sensors. If there was a theme to Francois’ comments around the North American rollout of the Fiat 500e, it was experimental. It seemed the brand is ready to try a variety of sales and launch tactics for the region. Fiat released a few details of the North American specs for the 500e vehicle, including that the battery will have more than 150-mile range. Olivier Francois, Fiat CEO and global CMO Stellantis, said the all-electric Fiat 500e will be able to charge the 85kW battery up to 30 miles in five minutes. The vehicle will come with an advanced driver assistance system that provides “Level 2+” features such as lane centering and adaptive cruise control, traffic sign recognition, blind spot detection and 360-degree parking sensors. The Fiat 500e will also come with the UConnect 5 connected car system and a 10.25-inch touchscreen. Image Credits: Kirsten Korosec Stellantis isn’t the first automaker to suggest that subscriptions could remake the car business. At the tail end of 2018, Volvo went as far as to say “don’t buy our cars” during an event for its Care By Volvo subscription. Though Volvo intended to make “having a car as easy as having a cell phone,” the program turned out to be anything but for some subscribers, who said encountered delays and mixups with dealerships. Today, Volvo’s subscription site greets visitors with a note that “inventory is currently unavailable online.” For its part, Francois claimed Fiat’s strategy had little to do with cranking U.S. sales, saying he was “capacity constrained” and instead focused on figuring out the “future of mobility with a car that’s designed for the city.”

Hyundai’s hydrogen fuel cell concept hints at the performance N brand’s future • ZebethMedia

By zebethcontrolPosted on November 17, 2022Posted in Hydrogen, hyundai, LA Auto Show, TransportationNo Comments

Just don’t say it’s inspired by the DeLorean Hyundai revealed Thursday a hydrogen fuel cell hybrid concept vehicle called the N Vision 74 that the company says demonstrates the performance sub-brand’s vision for electrification. The Hyundai N sub-brand, the performance-focused arm of the automaker, has been applied to a range of production vehicles since its founding in 2015 from the Hyundai Veloster N and Elantra N to the Kona N. The N brand, a name inspired by Germany’s famed racetrack in Nürburgring and where Hyundai tests these models, has targeted luxury performance brands like BMW M, Mercedes AMG, Audi RS, and Cadillac V-series with its N brand. The N Vision 74 raises the stakes. Just don’t say it’s inspired by the DeLorean. A closer look at N Vision 74 Image Credits: Abigail Bassett Hyundai calls the N Vision 74 a “rolling lab,” — a testbed of sorts for future products. Although there is some Hyundai Pony Coupe history in there too. The N Vision 74 pays homage to the Hyundai Pony Coupe concept from 1974, which was developed by the legendary car designer, Giorgetto Giugiaro, who also designed the Delorean. (The DeLorean made its debut in 1981 after the Pony Coupe.) It’s a detail that Sang Yup Lee, the Hyundai Global Design Center and an executive vicepPresident at Hyundai Motor Company was quick to point out. “Don’t’ say they look alike, because we did it first,” Lee said during the press conference. N Vision 74 gets a unique hydrogen hybrid and battery-electric architecture. Underpinning the N Vision 74 concept sits both a fuel cell stack and a battery pack. The fuel cell stack at the front puts out 85 kW (max 95 kW), while the 62.4 kWh battery sits at the rear. The hydrogen W fuel cell converts hydrogen to electricity to charge the 62kWh battery. The car also gets independent rear-mounted motors on each wheel to generate a total power output of 500 kW and nearly 670 horsepower and 663 pound-feet of torque. Hyundai says that allows for engineers to tune power distribution between left and right wheels and optimally set the N Vision 74 up to handle different types of tracks. The N Vision 74 concept gets dual-charging capabilities. It can be filled with hydrogen or recharged on a DC Fast charger thanks to the underlying 800-volt architecture E-GMP platform. Hyundai says it can get as much as 372 miles of range and a top speed of 155 mph. The question is, of course, will this hydrogen fuel cell hybrid technology come to a production car? Hyundai wouldn’t say whether this kind of powertrain will go into production. However, Lee did conclude his presentation stating that “The N Vision 74 Concept has undeniable Hyundai DNA and design that serves as a compass to guide our future.”

BrightDrop is tracking $1 billion revenue in 2023 • ZebethMedia

By zebethcontrolPosted on November 17, 2022Posted in BrightDrop, EV, General Motors, GM, TransportationNo Comments

General Motors’ e-delivery van subsidiary BrightDrop said Thursday it’s on track to reach $1 billion in revenue next year. The company, which launched in 2021 and was incubated at the automaker’s global innovation center, said reaching the financial milestone would make it one of the quickest tech startups to reach unicorn status, ahead of Apple, Amazon, Facebook, Microsoft, and Tesla, which took five or more years to reach their first billion. BrightDrop also unveiled Thursday at GM’s Investor Day BrightDrop Core, a subscription-based software platform that combines data generated from its other products to provide customers with more detailed insight into their operations. The platform will launch early next year to feature a user portal and mobile productivity apps. The company reported that it has received more than 25,000 reservations and letters of intent from customers including Walmart, Hertz, FedEx and Verizon for its Zevo 600 all-electric commercial van, which is already on the road. The company said that it’s set to generate up to $10 billion in revenue and reach profit margins of 20% by the end of the decade. Travis Katz, BrightDrop president and CEO, said that BrightDrop’s recent expansion into the online grocery sector will help it capture “substantial market share across multiple industries.” “We’re a tech startup with a subscription-based product offering that’s backed by a global powerhouse — this puts us in a league of our own,” Katz said in a statement.