electric vehicles

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Ford boosts spending to increase production capacity of its F-150 Lightning electric truck

Ford said Thursday it will invest another $250 million and add 450 jobs to increase production capacity of its upcoming F-150 Lightning to 80,000 all-electric trucks annually. The announcement comes after receiving more than 150,000 pre-orders for the all-electric pickup truck.

The additional funds and jobs will be spread out across its new Rouge Electric Vehicle Center in Dearborn, Michigan, Van Dyke Electric Powertrain Center and Rawsonville Components Plant, Ford said.

The announcement was made during an event at the Rouge Electric Vehicle Center, a 500,000-square-foot facility expansion that was part of Ford’s $700 million investment in its Rouge Complex. Gas-powered F-Series trucks are also assembled at the Rouge Complex.

Ford also announced that it has started pre-production of the Lightning trucks. These prototypes will be used for real-world testing. The truck will be available to customers in spring 2022.

The all-electric pickup truck is a critical piece of the company’s $30 billion investment into electrification and one of a trifecta of Ford EV debuts and launches in the next 18 months, including the Mustang Mach-E. The Lightning may be the most meaningful in terms of the bottom line. The Ford F-150 Lightning follows the introduction of the all-electric Mustang Mach-E and the E-Transit, a configurable all-electric cargo van focused on commercial customers.

The F-150 Lightning will be offered in four trims, which includes the base, XLT, Lariat and Platinum series, and two battery options. The truck, which has an aluminum alloy body, is powered by two in-board electric motors, comes standard with four-wheel drive and has an independent rear suspension. The base version will be priced at $39,974 before any federal or state tax credits, while the midseries XLT model will start at $52,974. All of these prices exclude the destination fees and taxes.

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Wright tests its 2-megawatt electric engines for passenger planes

Just like the automotive industry, aerospace has its sights set on going electric — but flying with battery-powered engines is a tougher proposition than rolling. Wright is among the startups looking to change the math and make electrified flight possible at scales beyond small aircraft — and its 2-megawatt engine could power the first generation of large-scale electric passenger planes.

Electric cars have proven to be a huge success, but they have an advantage over planes in that they don’t need to produce enough lift to keep their own mass in the air. Electric planes have been held back by this fundamental conundrum, that the weight of the batteries needed to fly any distance with passengers aboard means the plane is too heavy to fly in the first place.

In order to escape this conundrum, the main thing to improve is efficiency: how much thrust can be produced per watt of power. Since reducing the mass of batteries is a long, slow process, it’s better to innovate in other ways: materials, airframe and of course the engine, which in traditional jets is a huge, immensely heavy and complex internal combustion one.

Electric engines are generally lighter, simpler and more reliable than fuel-powered ones, but in order to achieve flight you need to reach a certain level of efficiency. After all, if a jet burned a thousand gallons of fuel per second, the plane couldn’t hold the amount needed to take off. So it falls to companies like Wright and H3x to build electric engines that can produce more thrust from the same amount of stored energy.

While H3x is focused on small aircraft that will probably be taking flight sooner, Wright founder Jeff Engler explained that if you want to take on aerospace’s carbon footprint, you really have to start looking at commercial passenger jets — and Wright is planning to make one. Fortunately, despite the company’s name, they don’t need to build it entirely from scratch.

“We’re not reinventing the concept of the wing, or the fuselage, or anything like that. What changes is what propels the aircraft forward,” said Engler. He likened it to electric vehicles in that much of the car doesn’t change when you go electric, mainly the parts that have operated the same way in principle for a century. All the same, integrating a new propulsion system into a plane isn’t trivial.

Wright’s engine is a 2-megawatt motor that produces the equivalent of 2,700 horsepower, at an efficiency of around 10 kilowatts per kilogram. “It’s the most powerful motor designed for the electric aerospace industry by a factor of 2, and it’s substantially lighter than anything out there,” said Engler.

The lightness comes from a ground-up redesign using a permanent magnet approach with “an aggressive thermal strategy,” he explained. A higher voltage than is normally employed for aerospace purposes and an insulation system to match enable an engine that hits the power and efficiency levels required to put a large plane in flight.

CG render of a plane using Wright's engines

Image Credits: Wright

Wright is making sure its engines can be used by retrofitted aircraft, but it’s also working on a plane of its own with established airframe makers. This first craft would be a hybrid electric, combining the lightweight, efficient propulsion stack with the range of a liquid fuel engine. Relying on hydrogen complicates things but it makes for a much faster transition to electric flight and a huge reduction in emissions and fuel use.

Several of Wright’s motors would be attached to each wing of the proposed aircraft, providing at least two benefits. First, redundancy. Planes with two huge engines are designed to be capable of flying even if one fails. If you have six or eight engines, one failing isn’t nearly so catastrophic, and as a consequence the plane doesn’t need to carry twice as much engine as you need. Second is the stability and noise reduction that comes from having multiple engines that can be adjusted individually or in concert to reduce vibration and counteract turbulence.

Right now the motor is in lab testing at sea level, and once it passes those tests (some time next year is the plan) it will be run in an altitude simulation chamber and then up at 40,000 feet for real. This is a long-term project, but an entire industry doesn’t change overnight.

Engler was emphatic about the enthusiasm and support the company has received from the likes of NASA and the military, both of which have provided considerable cash, material and expertise. When I brought up the idea that the company’s engine might end up in a new bombing drone, he said he was sensitive to that possibility, but that what he’s seen (and is aiming for) is much more in line with the defense department’s endless cargo and personnel flights. The military is a huge polluter, it turns out, and they want to change that — and cut down on how much money they spend on fuel every year as well.

“Think of how things changed when we went from propellers to jets,” said Engler. “It redefined how an airplane operates. This new propulsion tech allows for reshaping the entire industry.”

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EV charging solutions will become an asset, not a liability, to the grid

President Joe Biden’s plan for electric vehicles (EVs) to comprise roughly half of U.S. sales by 2030 is a clear indication that the U.S. is making strides in decarbonizing its transportation systems, which currently account for nearly half of total U.S. emissions.

Though this kind of federal support is critical in accelerating the mass adoption of EVs, we must face the impending need to rehabilitate the ailing U.S. electric infrastructure that millions currently rely on, namely the capabilities of the power grid.

As society converts to an all-electric future and demand rises for EVs, a challenge our modern world will face is how to charge the increasing number of vehicles without overstressing the grid past its capacity. While some predict EVs will overload the power grid, others have found methods that support our energy infrastructure, including solutions such as wireless charging, vehicle-to-grid (V2G) integration or more efficient methods of utilizing renewable energy sources, to name a few.

Amid warranted concerns about the unstable grid, there is an urgent need to find solutions that can reinforce this critical infrastructure to avoid pushing the grid to its limits.

The current challenges facing the grid

According to the recent IPCC climate change report, extreme heat waves that previously only struck once every 50 years are now expected to happen once per decade or more frequently due to global warming and anthropogenic emissions. While this has already been seen in this past year through record-breaking heat waves and extreme fires in the Pacific Northwest, utilities, operators and industry experts continue to express concern about whether current energy systems will be able to withstand increasing temperatures from climate change.

And it’s not just heat: In February, a cold snap in Texas crippled energy infrastructure and left millions without power. These numbers will only continue to increase as temperatures rise and the grid overworks itself to meet electricity needs.

In addition to fluctuating temperatures impacting the grid, many are also concerned about its ability to support the increasing number of EVs expected to hit the market in the coming years. With reports indicating that transportation electrification will likely require a doubling of U.S. generation capacity by 2050, there is a need for flexible EV charging options that can increase flexibility and load times during peak charging hours. However, as it currently stands, the U.S. power grid is only capable of supporting 24 million EVs until 2028 一 well under the required number of EVs needed to successfully curb road transport emissions.

Despite these challenges, one thing that industry experts have pointed out is that EVs have the potential to play a massive role in managing demand as well as aid in stabilizing the grid when necessary. However, as EVs are more widely adopted across the U.S., utilities need to ask themselves critical questions such as when people will likely charge their vehicles, how many users are charging their vehicles and when, what types of chargers are in use, and what types of vehicles are charging (such as passenger vehicles or medium- to heavy-duty fleets) to determine the additional demand for electricity and how they must upgrade their grids.

EV charging solutions will become an asset, not a liability

With long lead times for grid infrastructure upgrades paired with an increasing number of individuals and companies looking to electrify their vehicles, municipalities across the U.S. are desperately searching for methods to implement the necessary charging infrastructure to stay ahead of the rising EV tide while simultaneously ensuring the grid’s stability. However, a recent analysis by the ICCT estimates that with the current number of U.S. EV chargers at 216,000, the country will need 2.4 million public and workplace chargers by 2030 if it wants to meet its goals.

To address this concerning lack of charging infrastructure, cities have begun to explore charging options outside of the traditional, stationary station to not only speed up the adoption of the necessary charging infrastructure, but to protect the grid as well. One of these options is dynamic charging, otherwise known as wireless or in-motion charging.

On one hand, some argue wireless electric vehicle charging will pose an additional strain on existing grid infrastructure by increasing demand variability due to fragmented charging duration caused by charging lane layouts and traffic. On the other hand, many argue that wireless charging actually decreases the demand on the power grid due to the fact that energy demand is spread over time and space throughout the day, rather than being confined to stationary chargers’ charging period between 2 p.m. and 7 p.m., which enables a reduction in required grid connections and upgrades.

Additionally, wireless charging can be deployed in locations where conductive (plug-in) charging solutions cannot — such as roads, directly under commercial facility loading docks, at exit and entry points to facilities, under taxi queues, at bus stations and terminals, etc., which means that wireless technology can charge EVs at regular intervals throughout the day with “top-up” charging.

This method also enables more efficient utilization of renewable solar energy, produced and utilized predominantly during daylight hours, meaning limited additional energy storage devices are required, unlike conductive EV charging stations, which can typically only be used in the evening and nighttime hours and require energy storage.

These benefits indicate that cities and utilities alike can capitalize on efficient energy utilization strategies such as wireless charging to spread energy demand over time and space — adding additional flexibility and protection to the grid. While this method can and should be applied to passenger EVs, using it to power medium- to heavy-duty fleet vehicles will allow for a much faster transition to electric in these challenging-to-electrify fleet segments.

Can wireless charging assist the grid in supporting widespread adoption of EVs?

While passenger EVs pose challenges of their own to the grid, large-scale fleet charging will be a monumental task if utilities don’t get ahead of the transition. Wireless charging offers a cost-effective solution to operators looking to transition to meet carbon reduction goals, with projected numbers of electric commercial and passenger fleets making up 10%-15% of all fleet vehicles by 2030. Let’s take a closer look at an example comparison between plugging in large vehicles versus wireless charging and the impact both have on the grid:

  • Conductive (plug-in): 100 e-buses with 240 kWh batteries using overnight conductive charging at a bus depot requires a minimum grid connection of 6 megawatts (MW) because the entire fleet charges at the end of daily operations, typically simultaneously.
  • Inductive (wireless): 100 e-buses using wireless charging stationary charging technology at bus terminals, garages and stations located inside city centers enable the buses to be “topped-up” throughout the day at natural breaks in their operations. This charging strategy enables both massive battery capacity reduction (the exact amount depends on the fleet and vehicle energy requirements) and, because the bus fleet charging is spread throughout the day, the required grid connection(s) can be reduced by 66% to just 2 MW.

Wireless electric roads accompanied by solar panel fences adjacent to the road may be the ultimate solution for decentralizing power generation and eliminating stress on the grid. According to industry calculations, approximately 0.6 miles of this electric fence solution could provide between 1.3-3.3 MW of power. This combination of solar generation coupled with wireless charging infrastructure embedded into the road can support anywhere between 1,300 to 3,300 buses per day independent of power grid supply (assuming an average speed of 50 mph and accounting for seasonal variations in solar radiation).

Furthermore, because wireless electric roads are a shared platform for all EVs, this same road would also charge trucks, vans and passenger vehicles without placing additional pressures on the grid.

Innovative charging methods will play a critical role in modernizing and adapting our power grid

Although wireless charging is still relatively new to the market, the benefits are beginning to become glaringly self-evident. Amid increasing concerns about outdated grid infrastructure in the face of widespread transport electrification efforts, rising temperatures and extreme weather conditions, innovative charging methods can provide an optimal solution.

From distributing EV charging throughout the day to avoid overloads to being able to support the energy capacity needs of both passenger vehicles and large fleets simultaneously, technologies such as wireless charging will become critical resources in adapting to an all-electric decarbonized future.

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Electric vehicle company Rivian has confidentially filed for an IPO

Rivian, the electric vehicle startup backed by a host of institutional and strategic investors, including Ford and Amazon, has confidentially filed paperwork with the U.S. Securities and Exchange Commission to go public.

The size and price range for the proposed offering have yet to be determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions, the brief statement said.

The confidential filing comes less than two months since Rivian announced it had closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc. Third Point, Fidelity Management and Research Company, Dragoneer Investment Group and Coatue also participated in that round.

The company did not share a post-money valuation at the time of the July 2021 announcement.

The electric automaker, which now employs 7,000 people, is preparing to deliver its R1T pickup truck in September. The road to produce the R1T and an accompanying SUV requires capital, which Rivian has had little trouble raising.

Rivian has raised roughly $10.5 billion to date. In January, the company brought in $2.65 billion from existing investors T. Rowe Price Associates Inc., Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners. New investors also participated in that round, which pushed Rivian’s valuation to $27.6 billion, a source familiar with the investment round told TechCrunch at the time.

Developing….

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GM is adding two new zero-emission commercial vehicles to its lineup

General Motors said Wednesday it is adding two new zero-emissions vehicles to its commercial portfolio as it looks to expand its first-to-last-mile business arm, BrightDrop.

The first vehicle will be a battery electric cargo van under the Chevrolet brand that will likely be similar to the popular Chevy Express van. The second will be a medium-duty truck that CEO Mary Barra said “will put both the Ultium and Hydrotec hydrogen fuel cell technology to work.”

Much has been made of GM’s commitment to invest in electric passenger vehicles, but the company has also been busy targeting commercial customers with zero-emitting technologies. GM’s go-to technologies are battery electric and hydrogen fuel cells for heavy-duty and long-haul purposes.

GM in January said it would supply Hydrotec Hydrogen Fuel Cell Power Cubes to trucking manufacturer Navistar, with the first hydrogen trucks anticipated to go on sale in 2024. The automaker also penned a deal with Wabtec to develop hydrogen fuel cells and batteries for locomotives.

GM launched BrightDrop in January in a bid to offer commercial customers, starting with a contract with FedEx, an ecosystem of electric and connected products.

BrightDrop started with two main products, an electric van called the EV600 with an estimate range of 250 miles and a pod-like electric pallet dubbed EP1. BrightDrop executives previously hinted that the business unit was working on other products, including a medium-distance vehicle that transports multiple electric pallets known as EP1 and rapid load delivery vehicle concept.

“Between these new trucks, BrightDrop, EV pickups coming from Chevrolet and GMC, and our work with Wabtec on locomotives, and Navistar on semi trucks, we will have electric solutions for almost any towing or hauling job you can imagine,” Barra said.

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Growth is not enough

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

We were a smaller team this week, with Natasha and Alex joined by Grace and Chris to sort through a week that brought together both this quarter’s earnings cycle and the Q3 IPO rush. So, it was just a little busy!

Before we get to topics, however, a note that we are having a lot of fun recording these live on Twitter Spaces. We’ve found a hacky way to capture local audio and also share the chats live. So, hit us up on Twitter so you can hang out with us. It’s fun — and we may even bring you up on stage to play guest host.

OK, now, to the Great List of Subjects:

Equity drops every Monday at 7:00 a.m. PDT, Wednesday, and Friday morning at 7:00 a.m. PDT, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.

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Equity Monday: China boosts pressure on its tech sector as Duolingo’s IPO looks to raise a few more bucks

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and me here.

Ever wake up to just a massive wall of news? That was us this morning, so we had to pick and choose. But since this show is about getting you caught up, we decided to focus on the largest, broadest new information that we could:

  • Asian stocks were down, European shares are lower and U.S. equities are set to open underwater. Bitcoin had a great weekend, however.
  • China’s edtech crackdown continued over the weekend, with the country’s ruling party setting new rules for online tutoring companies; they can no longer go public and will be forced to become nonprofit entities. Chinese edtech stocks around the world fell.
  • China’s larger tech crackdown continued, with new moves against the present-day business models of both food delivery companies and Tencent Music. The former must ensure minimum incomes, while the latter must give up exclusive rights deals. Shares fell.
  • The Jam City SPAC is kaput. It will not be the last similar deal to fall apart.
  • And we chatted about this bit of Rivian news because it stood out to us.

All that, and we had a good time! Hugs and love from the Equity crew — chat Wednesday!

Equity drops every Monday at 7:00 a.m. PST, Wednesday, and Friday at 6:00 a.m. PST, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts!

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Rivian raises another $2.5B, pushing its EV war chest up to $10.5B

Rivian announced Friday that it has closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc.

Third Point, Fidelity Management and Research Company, Dragoneer Investment Group and Coatue also participated in the round, according to Rivian.

“As we near the start of vehicle production, it’s vital that we keep looking forward and pushing through to Rivian’s next phase of growth,” Rivian CEO RJ Scaringe said in a statement. “This infusion of funds from trusted partners allows Rivian to scale new vehicle programs, expand our domestic facility footprint, and fuel international product rollout.”

D1 Capital Partners founder Dan Sundheim said the firm is excited to increase its “investment in Rivian as it reaches an inflection point in its commercialization and delivers what we believe will be exceptional products for customers.”

Rivian has raised roughly $10.5 billion to date. The company did not share a post-money valuation.

The electric automaker, which now employs 7,000 and is preparing to deliver its R1T pickup truck in September, last raised funds in January. That round brought in $2.65 billion from existing investors T. Rowe Price Associates Inc., Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners. New investors also participated in that round, which pushed Rivian’s valuation to $27.6 billion, a source familiar with the investment round told TechCrunch at the time.

The news comes just a day after Rivian confirmed it plans to open a second U.S. factory. It also follows Rivian’s decision to delay deliveries of its R1T truck and R1S SUV from this summer to September due to delays in production caused by “cascading impacts of the pandemic,” particularly the ongoing global shortage of semiconductor chips.

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Department of Justice opens investigation into EV startup Lordstown Motors

Lordstown Motors continues to stumble. The beleaguered electric vehicle startup is now being investigated by the Department of Justice, in addition to an ongoing investigation by the Securities and Exchange Commission.

The investigation, first broke by the Wall Street Journal on Friday, is still in its early stages, according to unnamed sources. It is being conducted by the U.S. attorney’s office in Manhattan.

“Lordstown Motors is committed to cooperating with any regulatory or governmental investigations and inquiries,” a company spokesperson told TechCrunch. “We look forward to closing this chapter so that our new leadership – and entire dedicated team – can focus solely on producing the first and best full-size all-electric pickup truck, the Lordstown Endurance.”

The probe is just the latest in a series of woes for the startup, which recently said it had to cut production volumes for its debut electric pickup, Endurance, by half — from around 2,200 vehicles to 1,000. Just a few weeks after it made that announcement, there followed news of a corporate shakeup: the resignation of founding CEO Steve Burns and CFO Julio Rodriguez. Burns started the company as an offshoot of his previous startup, Workhorse Group.

Lordstown had a strong start, with investments from General Motors that helped it purchase a 6.2-million-square-foot factory from the leading automaker in late 2019. Lordstown made positive headlines last August, when it announced it would go public via a merger with a special purpose acquisition company (SPAC). The deal injected the EV startup with around $675 million in gross proceeds and skyrocketed its market value to $1.6 billion. Less than a year later, Lordstown informed the SEC that it does not have sufficient capital to manufacture Endurance.

Then, in March, the short-seller firm Hindenburg Research released a report disputing the company’s claims that it had booked 100,000 pre-orders for the electric pickup. It wrote that “extensive research reveals that the company’s orders appear largely fictitious and used as a prop to raise capital and confer legitimacy.” The SEC opened its investigation in the wake of these accusations.

The WSJ story is unclear on the scope of the inquiry and the company declined to provide details. TechCrunch will update the story if it learns more.

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Jaguar Land Rover to develop a Defender-like hydrogen fuel cell EV

Jaguar Land Rover is developing a hydrogen fuel cell vehicle based on the new Defender SUV, and plans to begin testing the prototype next year.

The prototype program, known as Project Zeus, is part of JLR’s larger aim to only produce zero-tailpipe emissions vehicles by 2036. JLR has also made a commitment to have zero carbon emissions across its supply chain, products and operations by 2039.

Project Zeus is partially funded by the U.K. government-backed Advanced Propulsion Center. The automaker has also tapped AVL, Delta Motorsport, Marelli Automotive Systems and the U.K. Battery Industrialization Center to help develop the prototype. The testing program is designed to help engineers understand how a hydrogen powertrain can be developed that would meet the performance and capability (like towing and off-roading) standards that Land Rover customers expect.

Fuel cells combine hydrogen and oxygen to produce electricity without combustion. The electricity generated from hydrogen is used to power an electric motor. Some automakers, researchers and policymakers have advocated for the technology because hydrogen-powered FCEVs can be refueled quickly, have a high-energy density and don’t lose as much range in cold temperatures. The combination means EVs that can travel longer distances.

Few fuel cell EVs, otherwise known as FCEVs, are on the market today in part because of a lack of refueling stations. The Toyota Mirai is one example.

Data from the International Energy Agency and recent commitments by automakers suggests that might be changing. Last month, BMW Chairman Oliver Zipse said the automaker plans to produce a small number of hydrogen fuel-cell powered X5 SUVs next year.

The number of FCEVs in the world nearly doubled to 25,210 units in 2019 from the previous year, the latest data from the IEA shows. The United States has been the leader in sales, although there was a dip in 2019, followed by China, Japan and Korea.

Japan has been a leader on the infrastructure end as it aims to have 200,000 FCEVs on the road by 2025. The country had installed 113 stations as of 2019, nearly twice as many as the United States.

“We know hydrogen has a role to play in the future powertrain mix across the whole transport industry, and alongside battery electric vehicles, it offers another zero tailpipe emission solution for the specific capabilities and requirements of Jaguar Land Rover’s world class line-up of vehicles,” Ralph Clague, the head of hydrogen and fuel cells for Jaguar Land Rover said in a statement.

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