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When we first reported on Southern California-based electric bicycle and motorcycle company SONDORS preparing for an IPO late last year, the company was expecting to hit a $10 per share price point in the $20M offering. But that number has since been revised to an estimate of $4-6 per share.

And this isn’t the first time SONDORS has lowered their IPO price estimate. It was already lowered once from the original $10 figure to a new target of $6-8.

The move comes as SONDORS could become the first electric bicycle company to go public in the US. Though of course the company has become much more than just an e-bike maker at this point.

First there was the three-wheeled electric car concept unveiled years ago, though it has yet to really materialize.

Then there was the two-year-long rollout of the Metacycle, a light electric motorcycle that is now being delivered in increasingly higher volumes after a rocky initial rollout.

SONDORS own story has been a bit of a rollercoaster itself, after the company burst onto the scene in 2015 with an unbelievably low-priced e-bike. The $500 electric bicycle shocked many in the industry. It’s ultimately successful delivery set the stage for what would become a SONDORS hallmark: big announcements that are dismissed by many as unlikely to succeed, only to usually be delivered – even if a day late and a dollar short of some of the loftier initial promises.

SONDORS electric bikes have come a long way in the last seven years

SONDORS’ initial regulatory filing ahead of the company’s expected IPO has given us our best look yet at the EV company’s finances.

It’s been a tough year or more for many electric bicycle companies that saw big sales booms during the pandemic that began to peter out in recent months.

In SONDORS’ case, the company reported revenue of almost $17M in the first three quarters of 2022, but its high operating costs led to a net loss of over $4M during that period.

The same period one year earlier saw $11.2M in revenue and a $1.78M net loss.

SONDORS has invested heavily in development and production of its Metacycle electric motorcycle, with a significant number of pre-orders weighing down the company’s liability column.

The company has also made several key hires in the past few months, including bringing in top leadership from companies like Tesla in a bid to course correct towards profitability.

The upcoming IPO is seen as key to the company’s ability to maintain enough breathing room with the necessary cash to meet its current obligations and capitalize on the expanding rollout of its light electric motorcycle, while continuing to produce its wide range of electric bicycle models.

Electrek’s Take

SONDORS may be in a tight spot here, looking for enough cash to keep its head floating comfortably above water.

The increasing rate at which it is turning those pre-order liabilities into assets is surely helping, but we don’t have a more up to date view of the company’s financials than Q3 2022. Deliveries of the SONDORS Metacycle really picked up in Q4 2022, so that’s where we’d likely see major improvements, if they exist.

That’s also where any changes from a new management team will likely begin to make an impact, so it’s hard to read too far into this yet without having a clearer picture of what’s going on behind the scenes.

Suffice it to say though that 2023 is likely a make or break year for SONDORS. Here’s hoping for the former!

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Nissan launches new, mid-size PHEV pickup that undercuts $20K Slate *

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Nissan launches new, mid-size PHEV pickup that undercuts K Slate *

Zhengzhou Nissan has launched a new, plug-in pickup in the Chinese market called the Z9. It’s the same size as the Nissan Frontier Pro, offers over 35 miles of all-electric range, and pricing starts at just $16,600.

* in China.

Positioned as the electrified sibling of the domestically-built Nissan Frontier Pro, the Zhengzhou Nissan Z9 is essentially a Chinese-market version the Frontier Pro, and it’s spec’ed and priced accordingly, with the as-yet undisclosed price of the Frontier Pro expected to come in a bit higher than the Z9.

That’s less interesting. What’s more interesting is that the Z9 offers 35 miles (60 km) of range on the base, 17 kWh battery, at a price that significantly undercuts even the Slate EV’s $28,000 pre-$7,500 incentive price tag – and that incentive is far from a sure thing.

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What’s more, if you feel like spending a bit more, you can get a Zhengzhou Nissan Z9 equipped with a 32.85 kWh battery that’s good for almost 85 miles (135 km) of all-electric range. And even that extended-range model, at ¥168,900 (about $23,400) is still price-competitive with the Jeff Bezos-backed Slate EV.

In short, it’s bound to be a winner.

It’ll sell, but it won’t sell here


Nissan-Frontier-EV-pickup
US-market Nissan Frontier.

With excitement surrounding the Kia Tasman, Slate, and other, similarly affordable light-duty pickups building on the success of the Ford Maverick hybrid, it should come as no surprise that Nissan has international ambitions for its newest electrified pickup.

“In alignment with our ‘In China, For China, Toward the World’ strategy for electrification and smart transformation, Nissan will fully support ZNA’s ‘off-road strategy,’” explained Stephen Ma, Chairman of Nissan (China) Management Committee and President of Dongfeng Motor Co., Ltd. “We are working to strengthen our research and manufacturing capabilities, further advancing our presence in the core markets of pickups and off-road vehicles, with the ultimate goal of achieving global expansion.”

It’s exciting stuff, but with all the recent troubles it’s been experiencing, it’s doubtful that Nissan will bring either of its new, Chinese-built mid-size pickups to the US (electrified or otherwise).

“The mission of the new generation of Chinese automotive professionals is clear – to ensure that made-in-China cars are driven across the world. ZNA will utilize its dual-brand and dual-channel advantages to expand its global footprint,” Mr. Mao Limin, Executive Vice President of ZNA, at the Z9’s launch. “We aim to be one of the top exporters of pickups within three years and to reach a sales milestone of 100,000 units.”

That said, Nissan Hardbody fans shouldn’t lose hope quite yet. If Nissan is able to find a new savior in Toyota, a Taco-based BEV pickup with a new LEAF/Ariya-type front fascia might make more sense than you think.

Electrek’s Take


Zhengzhou Nissan at left, Frontier Pro at right; via Carscoops.

I’ve already written out my own comeback plans for Nissan, and this new Chinese truck doesn’t really fit into them. Like many of you, I’m of the belief that a PHEV isn’t an EV – but I do see their value as “lilypad” cars, and the two Lightning owners I know? Their last F-150s were hybrids.

SOURCES: Zhengzhou Nissan; side-by-side image via Carscoops.


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240 ton Hitachi, ABB electric haul truck is revolutionizing Japanese mining

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240 ton Hitachi, ABB electric haul truck is revolutionizing Japanese mining

With global demand for battery minerals continuing to rise, tech giants ABB, Hitachi, Komatsu, and Sumitomo are working together, developing a clever tech strategy that’s slashed emissions across Japanese mining operations.

The collaboration between Hitachi Construction Machinery and ABB Traction to build a massive, fully electric 240 ton haul truck for extreme duty mining operations reached a critical stage last year, with the completion of their first prototype in February. Over the last year, Komatsu and Sumitomo have signed on as well, and the new haul trucks are doing their thing at the Kansanshi copper-gold mine in Zambia.

“We are delighted to see our collaboration with Hitachi Construction Machinery reaching this crucial step,” Fabiana Cavalcante, Head of Mobile e-Power, ABB Traction, explained last year. “The project is not only helping to tackle the issues involved in dump truck electrification but is also contributing to enabling a low-carbon world through the reduction of greenhouse gas emissions. We look forward to seeing the prototype prove its capability in the Zambian copper-gold mine.”

The deployment at Kansanshi marks the first OEM-led pilot program of this type of electric vehicle in real-world mining conditions.

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And, as for what type of electric vehicle is “this” type of electric vehicle – that was a big topic of conversation at The Electric Mine Conference in Chile last week, where ABB, Hitachi, Komatsu, and Sumitomo discussed not just Hitach’s electrification of FQM’s heavy haul trucks, but also the “trolley-style” overhead charging system that enables the trucks to operate around the clock, without the need to stop for charging.

On level ground, the truck’s electric powertrain draws power from its high-capacity battery. During power-intensive uphill climbs, the truck connects to the overhead wires and draws additional power, minimizing the demands on the battery. On downhill runs, the trucks recharge with regenerative braking.

The mine’s clever three-part system greatly reduces (if not outright eliminates) any downtime associated with charging, and enables the truck to operate almost continuously.

Electrek’s Take


HITACHI CONSTRUCTION MACHINERY COMPLETES PROTOTYPE FULLY ELECTRIC DUMP TRUCK BASED ON ABB’S INNOVATIVE BATTERY TECHNOLOGY
Hitachi Construction Machinery prototype electric dump truck; via ABB Traction.

The International Energy Agency (IEA, a Paris-based, 31 nation organization established in 1974 that provides policy recommendations, analysis and data on the global energy sector) projects that mineral demand from EVs will see 30x growth between 2020 and 2040, with demand for lithium and nickel growing 40x as demand for diesel is dropping faster than most people predicted, reaching a 26-year low last summer.

The IEA’s projections take several battery development scenarios into considerationand include increasingly familiar terms like utility-scale battery energy storage. All of which is to say: we’re gonna be mining a whole lot more, for a whole lot longer – and decarbonizing those operations is critical to doing all this properly.

The current plan is to convert Hitachi’s fleet of 2500 HP EH4000 240-ton diesel mining trucks to electric driveYou can learn more about the ABB eMine process in the company’s conceptual (read: it’s all CGI) launch video from last year, below, then let us know what you think of the group’s collaboration in the comments.

Hitachi haul trucks + ABB eMine


SOURCES | IMAGES: ABB, Construction Equipment, EV Magazine.


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Opel Frontera GRAVEL concept previews next Jeep Renegade electric 4×4

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Opel Frontera GRAVEL concept previews next Jeep Renegade electric 4x4

Hot on the heels of the Fiat 4×4 Grande Panda Manifesto comes another subcompact Stellantis compact with electric drive and off-road ambitions. Meet the Opel Frontera GRAVEL – which might be our best look yet at the next-generation electric Jeep Renegade coming in 2027.

Based on a lifted Frontera EV and riding on a set of bespoke, 7×16″ Borbet CWE wheels wrapped in aggressive AT tires, Opel says its all-electric Frontera GRAVEL’s emissions-free driving makes it ideally suited for “soft-roading” nature drives (their words, not mine), with a rugged, adventurous 4×4 appearance.

Those rugged, Jeep-like good looks are backed up enhanced by the usual overland accessories, including a front-mounted winch, side storage boxes at the rear, and a lattice-style roof rack. A slew of accessory lights mounted on the Thule Canyon XT carrier and hood, as well, for excellent nighttime visibility off-road and (presumably) retina-searing intensity on-road.

“The new Opel Frontera is already standout,” says Rebecca Reinermann, Vice President of Marketing for Stellantis’ Opel and Vauxhall brands. “It is rugged, practical, and perfect for families and everyday adventures. But with the Frontera GRAVEL show car, we’ve pushed the limits, imagining a tougher, more daring, trailblazing version. This concept is built to fire up our fanbase and test the demand for a bolder, more rugged Frontera in the future. It’s all about freedom, adventure, excitement and pushing boundaries.”

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Like the recent Fiat concept mentioned at the top of this post, the production Frontera EV is based on Stellantis’ “Smart Car” BEV-native platform, and features a 113 hp electric motor and more than 300 km of WLTP range (about 185 miles) standard, with the “long range” version able of traveling up to 400 km (about 250 miles) between charges.

Either version comes with the “Pure Panel” digital cockpit featuring dual 10″ displays. For a few dollars quid more, the GS trim adds automatic climate control and Intelli-Seat front seats. And, if Mopar Insider has any idea what’s up, it might actually make for a decent little Jeep Renegade replacement (below).

Electric Jeep Renegade rendering


2027 Jeep Renegade rendering; via ChatGPT.

The Opel Frontera first came to our attention last October, when it became the first new EV from Stellantis to be offered with both ICE and battery power, for the same price – making EV price parity an objectively real thing.

Jeep parent company Stellantis has already confirmed that a new Jeep Renegade that’s priced below the upcoming Jeep Compass EV would be coming to the US as a 2027 model, and it’s expected to share its mechanicals with both the Frontera and Fiat’s recently teased Grande Panda Manifesto. If that does anything for you, let us know in the comments.


SOURCES | IMAGES: Mopar Insider, Stellantis.

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