EV conversion specialist Everrati announced reshuffling its business-to-business (B2B) strategy, rebranding the division as “Powered by Everrati.” The branding partially results from increased customers to the B2B division, which is reporting encouraging year-over-year growth.

Everrati Automotive Ltd. is a UK-based restoration company that has expanded its business to the US. It specializes in EV conversions of timeless classics like Porsche 911s and Land Rovers. Most of our previous coverage of Everrati has focused on said conversions, including an all-electric Mercedes SL “Pagoda” and a Land Rover Defender designed to be stored on a yacht.

However, in addition to its own EV revamps, Everrati shares its proprietary technology to help other businesses go all-electric. In July 2022, we reported that the company had established a new B2B division called Everrati Advanced Technologies (EAT). The goal at the time was to provide high-tech consultancy services to clients, from initial concept and feasibility studies, through scalable low-volume production of EV conversions.

Everrati said EAT would initially focus on low-volume luxury vehicle conversions, aiding in every step of the process from design, development, engineering, and production consulting to help its customers create any bespoke powertrain design they want.

Nearly two years later, Everrati is reporting increased interest in its B2B EV conversions and is now pivoting that division to support said growth.

Businesses can utilize “Powered by Everrati” conversions

Similar to its predecessor, the newly branded “Powered by Everrati” division utilizes the conversion specialist’s electric powertrain and software technology to offer clients a turnkey solution that comes with support throughout the entire process.

At this point, in its development of EV conversion technology, Everrati is confident that its powertrains will reduce development and launch timelines, risks, and overall costs. The company explained that clients also gain access to Everrati’s in-house-developed Vehicle Control Unit (VCU) architecture, which can reduce the cost of new electric vehicle programs by up to 70%.

Such technology and savings have piqued the interest of new clients all around the globe, as Everrati states its contract signings have increased 200% year-over-year. Everrati founder and CEO Justin Lunny spoke to the expanded EV conversion division and what it means for the company’s overall strategy in the future:

I’m proud to announce the new name for our B2B division: Powered by Everrati. Our pipeline is brimming with opportunities as specialist and luxury brands, Low Volume Manufacturers, and OEM ‘classic divisions’ wishing to bring their heritage into the future, seek to swiftly create new, or electrify existing vehicles. With 70% of all new cars in Europe expected to be pure electric by 2030, momentum is really accelerating. Our ability to deliver bespoke EV projects efficiently positions us as the go-to partner for businesses aiming to transition to zero-emission solutions. Everrati continues to grow from solid foundations, driven by our commitment to providing customers with complete, turnkey cutting-edge EV solutions.

Our unique business proposition empowers clients to swiftly embrace zero-emission technology, while our B2C business flourishes globally in response to increasing demand. Indeed, with so many redefined customer commissions from our Porsche, Land Rover and Mercedes-Benz based product portfolio having been delivered worldwide, these completed OEM-grade vehicles visibly demonstrate to our B2B clients the boundaries we are pushing and the unparalleled results that can be achieved.

Everrati is not sharing specifically who any of its B2B clients are at this time.

Following similar announcements from rivals, Hyundai is adding more hybrids to its lineup as a bridge to its next-gen EVs. Hyundai will add hybrid production lines at its dedicated EV plant in Georgia as demand rises.

Hyundai adds hybrids at its new dedicated EV plant

Hyundai is shaking things up after initially announcing plans to build a $5.5B EV assembly and battery plant in Bryan County, GA.

After hybrids accounted for a larger share of sales in the first quarter, Hyundai plans to add hybrid production at the facility. “It is because we need to cope with sharply rising hybrid demand,” A Hyundai executive said on the company’s Q1 earnings call (via Nikkei Asia).

Hyundai’s EV sales share fell in all major markets in the first three months of 2024 compared to last year, including Korea (4.4% vs. 9%), the US (5.5% vs. 6.6%), and Europe (10.7% vs. 15.9%).

Meanwhile, hybrids accounted for a larger portion of sales in Korea (21% vs. 14.7%), the US (10.9% vs. 10.4%), and Europe (15.7% vs. 15.2%).

Overall, EVs accounted for 4.5% (vs 6.5% in Q1 2023) of the brand’s sales, while hybrids held 9.7% of the share (vs 8.2%). Hyundai’s total auto sales fell 1.5% to 1 million in Q1.

Hyundai is expected to begin production at its GA plant in Q4. The automaker believes electric models, like the IONIQ 5 and IONIQ 6, will qualify for the federal EV tax credit, which should help boost demand.

Once up and running, Hyundai’s Metaplant will be able to build 300,000 EVs annually, which can be expanded to 500,000 if needed.

Hyundai’s first three-row electric SUV, the IONIQ 9, will debut soon. It’s expected to be introduced later this year as Hyundai looks to boost sales in key segments.

Electrek’s Take

The news comes as several automakers, like Ford, GM, and even sister company Kia, announced similar plans to introduce more hybrids to their lineups.

Despite this, Hyundai’s EV sales are still climbing in key markets. Hyundai’s EV sales doubled in March in the US, its most important market, with Q1 sales up 62%, also a record.

Hyundai Motor America CEO Randy Parker assured, “Demand for our vehicles, especially EVs, remains high.” The Korean automaker looks to satisfy the growing demand for hybrids with added production in GA.

Hyundai already has some of the cheapest EVs in the US, with the Hyundai Kona Electric (starting under $33,00), the IONIQ 6 (starting at $37,500), and IONIQ 5 (starting at $41,800).

To sweeten the deal, Hyundai is offering a massive $7,500 cash offer that can bring prices down to nearly nothing. If you’re in the market for a new EV, now may be the best time to get started. You can use our links below to find deals on Hyundai EVs at a dealer near you.