Custom EV conversion specialist ECD Automotive Design celebrated a huge milestone today, ringing the opening bell in New York City as it was officially listed on the NASDAQ following a successful SPAC Merger with EF Hutton. The merger gives the company specializing in classic UK vehicles plenty of runway to grow its already successful business.
Today’s ceremony at the New York Stock Exchange puts a bookend on a ten-year journey for ECD Automotive that began with three British gearheads essentially flying by the seat of their pants to deliver the most customizable, one-of-one vehicles to customers who have grown to love their talents so much; many have returned to purchase a second or third model.
Today, a new chapter begins as more and more ECD customers opt to go all-electric with their custom builds.
We at Electrek have been following the company’s progress for the last three years, making a habit of annual visits to see what co-founders Scott Wallace, Elliott Humble, and Tom Humble and their teams are working on next.
We’ve personally test-driven electric Land Rover Defenders and have watched the custom build specialist transcend its original footprint to a new 100,000 square-foot space down the street it’s already getting too large for.
Just last month, we visited the ECD team to test drive its latest EV conversion – an all-electric Jaguar E-Type – complete with a new drivetrain and battery setup offering many exciting new features. At the time, we learned that ECD was working on an IPO to list on the NASDAQ in December.
Earlier today, ECD completed its SPAC Merger and had the honor of ringing the opening bell in New York ahead of its official listing on the NASDAQ as ($ECDA).
The ECD team ringing the opening bell at the NYSE / Credit: NASDAQ.com
ECD Automotive officially joins NASDAQ as ECDA
Ahead of this morning’s public listing, ECD Automotive Design completed a business combination with EF Hutton Acquisition Corporation I ($EFHT) – a special purpose acquisition company (SPAC) formed by EF Hutton.
From today forward, the newly combined company will be named “ECD Automotive Design Inc.” in a deal that pays existing ECD shareholders $2 million in cash and a slew of securities. EFHT agreed to a $15 million private investment in public equity (PIPE) after ECD was valued at a proforma enterprise value of $330 million.
Co-founder and CEO Scott Wallace will remain the head of the freshly merged company and will continue its unique resto-mod work alongside fellow co-founders Tom Humble, Emily Humble, Elliott Humble, and CFO Raymond Cole. Wallace spoke following ECD’s NASDAQ listing:
This transaction and a Nasdaq listing positions ECD to accelerate our growth as the scaled leader in restomods. We create truly ‘one of one’ vehicle builds and offer highly engaging experiences for consumers who share our genuine passion for automotives. With demand for these creations on the rise, we are in the pole position to expand our business by bringing new innovations to our product line and consolidating the fragmented industry. This is an exciting milestone for our staff, customers and many fans.
In speaking with Wallace before the merger, his biggest concern was ensuring ECD’s product quality and customer service remain at the most elite level – two pillars that have helped propel the company through its last decade of growth. With a NASDAQ listing and fresh funding in place, ECD should feel empowered to explore exciting new restorations and EV conversions of classic cars. We’re sure they already have some ideas in the works.
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Tesla has agreed to settle another wrongful death lawsuit from a fatal crash involving Autopilot before the case could get to trial later this year.
It’s one of many lawsuits involving several crashes involving Tesla’s advanced driver assistance systems (ADAS), Autopilot and Full Self-Driving (Supervised), after the floodgates were open following a watershed trial.
Over the last few years, Tesla vehicles have been involved in numerous accidents involving the automaker’s advanced driver assistance systems (ADAS): Autopilot and Full Self-Driving (Supervised), better known as ‘FSD’.
Despite the names of those feature packages, they are not considered automated driving systems. They are Level 2 driver assistance systems and require the driver’s attention at all times.
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Drivers and victims involved in those crashes have often sued Tesla, but the automaker has managed to have the cases dismissed, placing most of the blame on the drivers.
However, things started to change over the last year.
For the first time, a case went to trial before a jury, and they decided to assign a third of the blame for the crash to Tesla for the role Autopilot played. The rest of the blame was assigned to the driver, who had already settled with the victims and their families before the Tesla trial began.
The jury awarded the plaintiffs $243 million. The automaker has made clear its intentions to appeal the verdict.
Before the trial, the plaintiffs offered Tesla to settle for $60 million, and the company refused.
The trial process cost them much more.
The jury didn’t buy Tesla’s usual argument that it couldn’t be blamed because it clearly informs the driver that they are always responsible for the vehicle. The plaintiffs’ lawyers successfully argued that Tesla was careless in the way it deployed Autopilot, without implementing geofencing and marketing it to customers in a manner that encouraged the abuse of the system.
There are dozens of additional lawsuits against Tesla involving incidents with Autopilot and FSD, and they are all riding on the verdict as well as all the information that came from the trial.
The same lawyers and law firms that represented the plaintiffs in the trial in Florida are also representing victims and the families in those other lawsuits.
Brett Schreiber, the lead attorney in the Florida case, is also leading Maldonado v. Tesla, another wrongful death lawsuit against Tesla involving its Autopilot feature. The case was set to go to trial in the Alameda State Superior Court by the end of the year.
The case involves a Tesla vehicle on Autopilot that hit a pickup truck on the highway, killing fifteen-year-old Jovani Maldonado, who was a passenger in the pickup truck. His father was driving him back home from a soccer game.
In a new court filing, Tesla and the plaintiffs have requested that the court approve a settlement that the two parties have reportedly agreed upon.
The settlement is confidential.
Electrek’s Take
Like I said, the floodgates are open. We are now starting to see the crashes that occurred in 2018 and 2019 being addressed in court.
This is just the beginning.
Crashes on Autopilot and then FSD have greatly ramped up starting in 2020-2021 with greater delivery volumes and Tesla launching FSD Beta.
I hope that more cases reach trial, as we do learn a lot more about Tesla and its deployment of driver assistance systems through them.
But with how the first one went, I am sure the automaker is much more eager to settle those cases.
However, can it just keep doing that?
There have already been over 50 deaths related to crashes involving Tesla Autopilot or FSD.
As morbid as it sounds, if the going rate for a Tesla Autopilot-related death is around $50 million, that’s already more than $2.5 billion and growing.
This is nuts. Will this continue to happen?
More people die in crashes involving Tesla’s half-baked ADAS products. Tesla continues to compensate the victims and their families with millions each time, essentially using the money it earns from selling the dream of those half-baked ADAS features eventually leading to real autonomy.
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Lucid (LCID) rolled out a software update for the Gravity, which makes towing “a breeze” with helpful new features. Plus, Lucid is giving Gravity buyers the chance to try out exclusive new features still in development.
Lucid launches Gravity UX 3.3 software update
The Gravity already stands out, boasting up to 450 miles of range, lightning-fast charging speeds, and an Escalade-sized interior.
Through its new over-the-air (OTA) software update, launched on Tuesday, Lucid unlocked several new features and functions for Gravity drivers.
The Gravity UX 3.3 update introduces new features that Lucid promises will make towing “a breeze,” including an Integrated Trailer Brake Control, Hitch View, and a Trailer Light Check.
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Hitch view gives you the ability to see the trailer hitch directly on the Gravity’s infotainment screen. You know, to make sure it’s still connected and all. To ensure your trailer lights are working, the new Trailer Light Check feature illuminates them in a sequence. You can use it directly on the Lucid mobile app.
Lucid is offering Gravity drivers the chance to try out two new Halo Secure features, Live View and Drive Recorder, which are still in development.
Live View uses the external cameras, enabling you to see what’s around your vehicle in real-time remotely using the Lucid mobile app. Drive Recorder will capture clips, such as an accident, saving it directly to your USB storage device (which is not provided).
Lucid introduced a slew of other tweaks and modifications to make the Gravity’s infotainment system quicker and easier to use. You can now drop a bookmark on the home screen as a shortcut to navigate to your favorite places.
The interior of the Lucid Gravity (Source: Lucid)
The Gravity’s audio system now “delivers clearer sound than ever,” Lucid said during phone calls with less background noise.
Lucid currently offers the Gravity Grand Touring, which starts at $94,900 in the US. Soon, Lucid will launch the lower-priced Touring model, starting from $81,550.
Lucid Gravity Grand Touring in Aurora Green (Source: Lucid)
Orders for the Lucid Gravity Grand Touring opened in Europe last week with deliveries set to begin in early 2026. Lucid’s electric SUV starts at 116,900 euros ($137,000) in Germany, including VAT. Soon, the Lucid Gravity Touring will be available, starting at 99,900 euros ($117,000) in Germany.
Lucid is currently offering some of its biggest promotions to date, with the $7,500 federal tax credit set to expire at the end of the month. The Air is the most affordable it’s ever been this month, with leases starting at just $509 per month.
Ready to test drive it out for yourself? We’re here to help you get started. You can use our links below to find Lucid Air and Gravity models in your area.
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California just awarded $1.1 million to Brooklyn-based EV charging company it’s electric to develop what would be the world’s first curbside vehicle-to-grid (V2G) EV charger.
The grant comes from the California Energy Commission’s Enabling Electric Vehicles as Distributed Energy Resources program, part of the state’s Electric Program Investment Charge (EPIC) initiative. Working with UC Berkeley and the University of Delaware, it’s electric plans to have the technology ready for the market by 2028.
The V2G charger won’t just pull electricity from the grid to charge a car; it will also be able to push energy back into the grid directly from the EV – something that has never been done in a curbside format, where millions of cars sit parked every day.
The new hardware will look the same as it’s electric’s current design but will bring bidirectional charging to city streets, including in low-income and disadvantaged communities. That means more equitable access to V2G technology, which can speed up EV adoption and cut emissions in line with California’s climate goals.
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The project also includes the development of the J3068 Active Cable with the University of Delaware. This cable combines the SAE-standard untethered charging format with Delaware’s Active Cable Communication Module. That combo enables bidirectional charging while linking driver account info to the cable, making the system reliable and compatible across different charging setups.
Nathan King, cofounder and CEO of it’s electric, said, “Seven million light-duty vehicles are routinely parked on city streets in California. As these vehicles convert to electric, their batteries have enormous potential to help offset peak demand in critically overstrained electric utility service areas.” He added that all EV drivers should have equal access to programs that reward participation in demand-response and V2G services.
Commissioner Nancy Skinner added that the project could let cars do more than just drive: “it’s electric’s impressive project will pilot EV chargers that can not only power a car but also help that car power our grid, demonstrating the economic and resiliency benefits of V2G technology.”
At scale, curbside V2G chargers could allow cars parked on city streets to serve as distributed energy resources, helping both drivers and grid operators. By turning EVs into mobile batteries, the tech could reduce strain on the grid and avoid costly infrastructure upgrades.
UC Berkeley professor Scott Moura said his team is “excited to get to work on this project, and proud to be hosting deployment and testing of the world’s first bidirectional curbside charger.”
And University of Delaware professor Willett Kempton, a longtime V2G pioneer, called the investment another step forward: “We applaud the California Energy Commission for investing in this project, which will advance the ability of all communities to take advantage of V2G opportunities.”
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