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Only a couple years ago, electric bicycle manufacturers couldn’t keep e-bikes on the shelves as they were being snatched up faster than they could be produced. But while some e-bike companies have managed to keep up a steady cash flow and balanced operations, others have run into financial difficulties. For European e-bike maker VanMoof, those difficulties turned into a dire situation just a few months ago.

As reported by Dutch media company Financieele Dagblad, VanMoof nearly ran out of money to pay its bills late last year.

The company has since managed to raise sufficient funding from its original British and Chinese investors to make it out of the woods, but there were surely some sleepless nights for the management team at the end of 2022.

VanMoof’s annual report, filed at the end of last year, described the company’s immediate need to raise capital. Without a quick injection of funds, the company could not guarantee its “ability to continue its activities beyond the first quarter of 2023.”

The report revealed that VanMoof had asked its suppliers to defer payment until after additional capital had been raised. That’s a move that other large bike companies including Giant have been forced to make recently, according to Cycling Industry News.

vanmoof s5

VanMoof’s electric bicycles fall into an interesting niche among European e-bikes. The e-bikes, which range from around €2,500 to €3,000 in Europe, rely on more affordable hub motor drivetrains and thus undercut the higher-cost European e-bikes made by companies like Urban Arrow, Riese & Müller, Gazelle, and others.

Those lower prices along with sleek design and strong branding have helped VanMoof scoop up higher sales volumes.

But VanMoof maintains a massive workforce, reaching as many as 900 employees at one point. The company also operates brand stores in several countries across North America, Europe, and Asia.

Despite reporting tens of millions of euros in revenue each year, maintaining that large employee base and broad geographic footprint of brick-and-mortar stores hasn’t been cheap. Fortunately for VanMoof fans though, the company’s most recent 11th hour cash infusion from its existing investor base seems to have helped VanMoof return to steady footing for now.

Such economic hardships haven’t only affected e-bike companies like VanMoof. Other light EV companies have found themselves in similarly precarious financial standing. We recently reported on Oregon-based Arcimoto suspending production and laying off a large number of employees while it seeks to quickly raise enough funding to continue operations.

In that case, Arcimoto has been hampered by its much higher cost of production for highway-legal motorcycle-class electric three-wheelers that have so far failed to achieve the demand required to meet Arcimoto’s large-scale production goals.

Electrek’s Take

I can’t fathom how VanMoof can sustain such a large workforce. Companies like Rad Power Bikes sell considerably more e-bikes than VanMoof, and even Rad had to undergo several rounds of layoffs in the last year or so. I imagine VanMoof’s payroll must be a huge part of its burn rate, especially since you can’t put off paying employees the way you can with suppliers of brakes and pedals. And of course those e-bike hunters don’t work for free.

I’m glad to hear that the company found the money it needs to go on though, especially since I’m still waiting for them to get around to producing that VanMoof V concept e-bike that is supposed to reach 31 mph (50 km/h). No one can let VanMoof die until I get to ride that slick-looking thing.

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Tesla starts using ‘Supervised Full Self-Driving’ language

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Tesla starts using 'Supervised Full Self-Driving' language

Tesla and Elon Musk have started using the term “Supervised Full Self-Driving” when discussing their self-driving efforts.

What does it mean?

Tesla, and especially its CEO Elon Musk, has used controversial language when discussing its self-driving effort.

It started with calling and selling something called the “Full Self-Driving Capability” package all the way back in 2016. The automaker promised it would eventually enable level 5 self-driving capability through software updates.

Now, it has yet to happen, and Tesla has evolved its language around the promise over the years.

Musk previously often used the term “robotaxi” and said that “Tesla would enable 1 million robotaxis by the end of the year”. This was in reference to bringing full self-driving capability to Tesla’s existing fleet of over 1 million vehicles, now over 5 million, through a software update.

That also never happened.

Musk then started using the term “feature complete,” which refers to Tesla FSD Beta taking over all driving tasks. However, it still requires the driver’s attention and readiness to take control at all times.

Under SAE’s ADAS system ranking, this is called a level 2 autonomous system, and Tesla has clearly promised a level 4 or even 5 system in which driver attention is not required. That’s where we are now.

In the last year or two, Tesla, and especially Musk, as he is Tesla’s main spokesperson, have stopped referencing robotaxi or at least in reference to turning Tesla’s existing fleet into robotaxis. Instead, Musk used the term in reference to an upcoming new Tesla vehicle specifically designed to be a robotaxi.

When it comes to turning FSD Beta into a true self-driving system, Tesla and Musk have been much more vague.

Lately, they have focused on using the language of “Supervised” Full Self-Driving. Musk recently referenced it in an email sent to Tesla employees, and Tesla used the same term in recent social media posts.

It’s a reference to drivers having to “supervise” the system. In the previously mentioned email sent to Tesla employees, Musk proudly said that “supervised Full Self-Driving” actually works.

Electrek’s Take

“Supervised Full Self-Driving” indeed works, but you have to ask yourself if the supervised part is what makes it work. The answer is obvious.

I feel like I am repeating myself, but the only thing of value that Tesla can communicate on that front now is actual data about driver intervention and FSD disengagement in order to show a rate of improvement leading toward the “march of 9s”.

The “march of 9s” is what people in the autonomous vehicle industry refer to achieving a 99.9999x percent level of safety.

Right now, when it comes to Tesla’s FSD Beta, we don’t seem to be marching yet. There’s no clear path to it becoming an unsupervised system.

Now, I know that some people hold hope in the fact that Tesla recently launched FSD Beta v12, with end-to-end neural net, and that Tesla is reportedly not “compute constrained” anymore – meaning that FSD Beta could be trained faster and therefore, improve faster.

I still have some hope on that front, but I really want some real data. I can’t with the anecdotal experiences anymore, the continuously evolving language, and the moving goal post.

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Watch out Tesla, smartphone builder Xiaomi’s SU7 EV offers 434 mile range for under $30k

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Watch out Tesla, smartphone builder Xiaomi's SU7 EV offers 434 mile range for under k

Apple may have bailed on its plans to build its own EV, but a Chinese competitor has completed the feat, and on paper, it has the makings to be one helluva first entry into the segment. Today, Xiaomi officially launched its first-ever EV, the SU7 – decked out with advanced battery tech, lightning-fast charging, and a mouth-watering range – all for starting MSRPs that will turn some heads. Oh, the smartphone manufacturer released a new phone model to match the new EV as well.

Although Xiaomi is making its case as a true competitor out of the gate in EVs, it has long been established as a trusted brand in China, manufacturing electronics based on an Internet of Things (IoT) platform, including smartphones, apps, laptops, home appliances, and scooters.

After seeing a decline in consumer electronics sales in the last decade, Xiaomi started turning its sights elsewhere, brainstorming how it could adapt its tech-savvy manufacturing expertise toward new lucrative ventures. It landed on EVs – a booming yet saturated market in China.

By 2021, Xiaomi Automobile was incorporated in China, and in two short years, the company was boasting faster-than-expected progress. By November 2023, we caught our first glimpse of Xiaomi’s first EV model – the SU7. A month later, the electronics company had officially unveiled the SU7 as a challenger to Porsche and who else but Tesla.

In February, Xiaomi shared plans to launch the new SU7 EV in Q2 of this year with hopes of capitalizing on its existing army of 20 million smartphone users. Today, the EV has publicly emerged to much acclaim, garnering an impressive amount of pre-orders in China in a very short window.

  • Xiaomi EV
  • Xiaomi EV
  • Xiaomi EV

Xiaomi’s first-ever SU7 EV looks like affordable home run

Xiaomi held a live launch event for the SU7 EV in China today, posted in its entirety to its Weibo page. There’s a lot of exciting stuff to unfold here, so let’s dig in.

The SU7 arrives at a length, width, and height of 4,997 mm, 1,963 mm, 1,440/1,455 mm, respectively, with a wheelbase of 3,000 mm. Its size is comparable to the Tesla Model 3 (a clear competitor), albeit longer and slightly narrower. More on that in a minute.

Xiaomi shared that the SU7 EV will be sold in three different variants: Standard, Pro, and Max, as well as a limited-run Founders Edition of 5,000 units, of which Xiaomi states were the first built. The Standard and Pro trims sit atop a 400V platform, while the Max variant features an 800V platform, confirming speculation from leaked images we reported back in July 2023. Here’s how the trims vary on the spec sheet:

Xiaomi SU7 Trim Standard Pro Max
Architecture 400V 400V 800V
Powertrain RWD RWD AWD
Battery 73.6 kWh
BYD Blade
94.3 kWh
CATL Shenxing
101 kWh
CATL Qilin
CLTC Range 700km (435 miles) 830km (516 miles) 800km (497 miles)
Power 299 hp (220 kW) 299 hp (220 kW) 673 hp (495 kW)
Torque 400 Nm 400 Nm 838 Nm
0-100km/h Acceleration
(0-62mph)
5.28 seconds 5.70 seconds 2.78 seconds
Top Speed 210 km/h
(130.5 mph)
210 km/h
(130.5 mph)
265 km/h (165 mph)
Fast Charge Time
(10-80%)
25 minutes 30 minutes 19 minutes
15-minute DC charge 350km (218 miles) 350km (218 miles) 510km (317 miles)

In addition to impressive specs, the new Xiaomi SU7 EV is decked out with advanced technology, including a head-up display, Pilot Pro ADAS with vision (Pilot Max with vision and LiDAR on the top two trims), a mini fridge add-on, and a Dolby Atmos sound system (Max trim).

What’s most enticing, however, is that future Xiaomi SU7 customers will get the above perks for some ultra-competitive pricing overseas:

Xiaomi SU7 Trim Standard Pro Max
Starting MSRP RMB 215,900
($29,875)
RMB 245,900
($34,000)
RMB 299,900
($41,500)

Remember that mention of the Tesla Model 3? It’s important to point out that Xiaomi is clearly gunning for the American automaker with the launch of the SU7 EV. For example, the Pro version of the SU7 costs the same as the entry-level Model 3 in China, with significantly better specs. In fact, Xiaomi founder, chairman, and CEO Lei Jun pulled no punches during the live launch event earlier today:

Many people ask me who the Xiaomi SU7 is built for. My answer is, isn’t it time for Tesla Model 3 users to upgrade?

In collaboration with today’s EV event, Xiaomi also launched a new line of smartphones that work with the SU7, complete in colors to match the vehicle’s exteriors (seen above). The hype has been real so far as Xiaomi opened up its books, reporting over 50,000 firm orders in just 27 minutes.

Xiaomi says initial deliveries of the Standard and Pro trims of the SU7 EV will begin in China in April, followed by orders for the Max in late April. Trust we will do everything we can to get a look at this new impressive EV up close soon.

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BYD says EVs have entered the ‘knockout round’ with next-gen tech rolling out

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BYD says EVs have entered the 'knockout round' with next-gen tech rolling out

Global EV leader BYD believes new energy vehicles, including EVs and PHEVs, have entered the “knockout round” with gas-powered cars. BYD plans to more than double its overseas sales this year, as it aims for one million in 2025.

Let the “liberation battle” begin

After declaring a “liberation battle” against gas-powered cars earlier this year, BYD, or Build Your Dreams, is putting pressure on overseas rivals.

During an investor meeting on Wednesday, BYD’s CEO, Wang Chaunfu, said it will launch its next-gen hybrid tech offering over 1,200 miles (2,000 km) range. We reported earlier this month that BYD looks to crush gas-powered car sales with its newest platform.

Most BYD vehicles are based on its e-Platform 3.0, an advanced 8-in-1 electric powertrain with integrated Blade batteries.

By building nearly all vehicle components, including batteries, in-house, BYD has a major advantage over rivals. BYD can offer low-cost EVs, like the new Seagull, starting under $10,000 (69,800 yuan) and still make a profit.

Its next-gen DM-i system will enable an even more range at a lower cost. According to a new Yicai report (translated), Chaunfu said BYD will launch its next-gen DM-i platform in May.

BYD-knockout-round
BYD Seagull (Dolphin Mini) testing (Source: BYD)

BYD believes EVs, PHEVs entered the “knockout round”

Chaunfu added that he believes EVs and PHEVs have “entered the knockout round” and that the next two years will be critical for automakers to scale, reduce costs, and introduce new tech.

As new electric cars roll out in China, BYD sees joint venture brands (overseas automakers) market share falling from 40% to 10%. The 30% offers room for Chinese brands to grow.

BYD-new-EV-platform
BYD Dolphin EV Honor Edition (Source: BYD)

BYD is using an “overseas + localization” strategy to expand the brand. For example, BYD is building a plant in Hungary that will “be Europe, for Europe.” BYD’s European leader said the plant will “be closer to customers, offering faster deliveries, and people will trust us more.”

Chaunfu said BYD aims to sell 500,000 vehicles overseas this year, more than double the 240,000 handed over last year. By 2025, BYD sees overseas sales reaching 1 million.

BYD-Atto-3-Japan

BYD’s first vehicle transport ship, the BYD Explorer No. 1, landed in Germany last month as the automaker expands its overseas footprint.

Meanwhile, after launching in Japan last year, BYD already accounted for 20% of Japan’s EV imports in January, a market dominated by Toyota.

The automaker launched a “liberation battle” with drastic price cuts and new lower-priced models earlier this year.

BYD says its main competition is gas-powered vehicles and joint venture brands. Several of its most popular EVs, including the Dolphin and Seagull, were updated with lower prices. Its cheapest EV, the Seagull, starts at just $9,700.

Electrek’s Take

BYD has already sent shockwaves throughout the industry with the new Seagull EV starting under $10,000.

Ford’s CEO Jim Farley called the Seagull “pretty damn good,” as he warned rivals. Farley said at the Wolfe Research Conference last month that if automakers fail to keep up with the Chinese, like BYD, “20% to 30% of your revenue is at risk.” In response, Ford is shifting from larger to smaller, more affordable EVs.

How will automakers react to a new platform that will cut costs even further? With new tech and models rolling out, BYD expects to steal even more market share from gas vehicles over the next few years.

Although many pit BYD and Tesla against each other because they are the leading EV makers, BYD sees Tesla as a respected industry partner. Its main target is gas-powered vehicles.

BYD is best known for its affordable EVs, such as the Dolphin, Atto 3, and Seagull, but it’s expanding into new segments, including mid-size SUVs and luxury models.

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