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Trump’s coin sale misses targets as crypto project’s website crashes

It’s been just over 24 hours since the launch of the Donald Trump-endorsed digital coin “WLFI,” and the token is failing to deliver on the ambitious fundraising goals set by its founding team.

World Liberty Financial — which bills itself as a crypto bank where customers will be encouraged to borrow, lend and invest in digital coins — began its token sale on Tuesday morning. On Monday, project co-founder Zachary Folkman bragged in a prelaunch stream on X that “well over 100,000 people” were whitelisted to invest.

“We knew that this project was highly anticipated. We knew that there was a lot of excitement in the marketplace,” said Folkman to the 12,000 people tuning into the event on X. “However, these numbers are just, in my opinion, unheard of, and I think we’re setting all sorts of new records in crypto.”

But blockchain data tracked by Etherscan shows that about 9,050 unique wallet addresses hold the token as of Wednesday morning, representing roughly 9% of the total number of people who registered.

Trump, the Republican nominee for president, pumped the coin in a video post Tuesday evening on X, promoting the World Liberty website and telling his followers that the token sale was live and that “crypto is the future.”

In a road map given to prospective investors first viewed by The Block, the WLF proposal says the coin is looking to raise $300 million at a $1.5 billion valuation in its initial sale. The platform says, so far, it has sold more than 788 million tokens at 1.5 cents per token.

That is less than 4% of the 20 billion tokens made available for public sale and amounts to around $11.8 million, still well off the $300 million fundraising target.

WLF did not respond to CNBC’s request for comment.

Trump-backed crypto token launches, but questions around its utility remain: CNBC Crypto World

Part of the problem was that the project website, the exclusive marketplace for the new coin, suffered regular, lengthy outages frequently showing a page saying, “We are under maintenance.”

But there are other roadblocks that may have impacted the coin’s debut. WLFI is a Regulation D token offering, which means retail investors have largely been cut out of the process.

This provision makes it possible to raise capital without first registering a security with the U.S. Securities and Exchange Commission, but certain conditions must be met, such as limiting the size of the sale and restricting it to accredited investors, defined in part as having a net worth of more than $1 million. While the offering is one way to reduce legal exposure, it cuts down on the size of the potential investor pool. 

The World Liberty team has also been specific in calling WLFI a governance token that allows holders to vote on decisions regarding the protocol, but would not signify equity in the venture itself.

As of now, however, there’s nothing for WLFI token holders to vote on since the crypto bank connected to the digital coin doesn’t yet exist.

Last week, WLF began the crypto bank approval process with Aave, one of the longest-running and most-trusted crypto lending platforms.

World Liberty has not released an official white paper or formal business plan to the public. A 400-word proposal posted to Aave’s governance forum, which is used to discuss and vote on proposed projects such as WLF, is nearly all that’s been disclosed.

Coin holders get a sort of IOU until the platform is approved and goes live. In the meantime, investment in the coin goes to the platform’s treasury.

WLF’s website adds in the fine print that Trump and his family members may receive tokens from World Liberty Financial and that they areentitled to receive significant fees for services provided to World Liberty Financial, which amount cannot yet be determined.”

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Trump's token launch misses early targets

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Ford’s reborn Capri EV now en route to first customers in Europe

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Ford's reborn Capri EV now en route to first customers in Europe

The legend is back for the first time in nearly four decades. Ford’s new Capri EV is headed to the first customers across Europe. Following the electric Explorer, the new Capri is Ford’s second EV based on Volkswagen’s MEB platform.

Ford unveiled the all-electric Capri in July, claiming the “legend” is being revived. A little over three months later, the electric sports crossover is on its way to dealerships across Europe.

The first electric Capri models left Ford’s Cologne EV Center in Germany and are headed to customers.

Ford said the new Capri was designed to “inject some would in the world of electric vehicles.” It’s an all-electric twist on a cult classic. Almost 200,000 customers have created their Capri models on Ford’s website.

The most popular color option was Vivid Yellow, with 24% opting for the modern take on the classic Capri’s Daytona Yellow.

According to Ford, over 50% chose the Capri Premium model, which gains Dynamic LED headlights, a 10-speaker B&O sound system, 20-inch alloy wheels, and more.

Ford's-new-Capri-EV
The all-electric Ford Capri (Source: Ford)

With nearly 400 miles (627 km) WLTP range, the Capri EV can drive from Cologne to London on a single charge.

Meet Ford’s new Capri EV, a legend reborn

“Our new all-electric Capri is the car the iconic sports coupe was destined to become,” Ford Europe’s EV leader, Jon Williams, said.

The Capri’s return has been “well worth the wait,” Williams explained, adding, “We couldn’t be more excited to see a new generation about to experience the style and swagger that made Capri such a legend.”

Ford-Capri-EV
The electric Ford Capri (Source: Ford)

Ford’s electric sports coupe is available in Capri and Capri Premium. Powered by a 77 kWh battery, the RWD Capri EV has a driving range of up to 390 miles (627 km) in Europe.

The Premium model, with a larger 79 kWh battery and AWD powertrain, has a WLTP driving range of up to 368 miles (592 km).

Ford-Capri-EV-interior
Ford Capri EV interior (Source: Ford)

All models come with advanced driver assistance systems (ADAS). The system includes 12 ultrasonic sensors, five cameras, and three radars.

Inside, you will find an adjustable 14.6″ infotainment screen with Android Auto and Apple CarPlay support. It also features a wrap-around cockpit and sculpted sports seats for a racecar-like feel.

Range
(WLTP)
Starting Price
(Germany)
Ford Capri EV (RWD) 390 miles (627 km) $48,800 (€44,950)
Ford Capri EV Premium (AWD) 368 miles (592 km) $52,300 (€48,650)
Ford Capri EV price and range by trim

At 4,634 mm long, 2,063 mm wide, and 1,626 mm tall, the new Ford Capri EV is similar to the Volkswagen ID.5 (4,599 mm long, 1,852 mm wide, 1,603 mm tall). From the side, it looks very similar to the Polestar 2.

The new Capri EV starts at $48,800 (€44,950) in Germany, slightly less than the electric Explorer, which costs about $52,700 (€48,500). Meanwhile, the Premium model costs around $52,300 (€48,650).

What do you think of the revived cult classic? Would you buy Ford’s new all-electric Capri? Let us know your thoughts in the comments.

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GM Ventures invests $10M in Forge Nano’s game-changing EV battery technology

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GM Ventures invests M in Forge Nano's game-changing EV battery technology

GM Ventures has invested $10 million in materials science company Forge Nano, which makes Atomic Armor, an innovative EV battery technology.

GM and Forge Nano

Capital investment into Forge Nano now exceeds $100 million; GM joins Volkswagen, LG, Hanwha, and Mitsui Kinzoku as shareholders.

GM and Forge Nano have also signed a strategic partnership agreement to use Forge Nano’s proprietary Atomic Layer Deposition (ALD) technology, Atomic Armor, to develop thin-film coatings to enhance GM’s cathode active materials. Forge Nano will build prototype lithium-ion battery cells at its Colorado headquarters to improve GM’s EV battery performance and lifespan.

Atomic Armor is a surface coating that, when applied to an EV battery, prevents corrosion, strengthens properties, and improves performance. It results in a 20% increase in range and gives the EV battery the ability to fast charge in 10 minutes.

Forge Nano says it plans to use the money to continue to expand its battery material coating business, which includes in-house active material coating services, external equipment sales, and production of Atomic Armor-powered battery cells. It will also expand its footprint in semiconductors.

Forge Battery

Forge Battery is Forge Nano’s manufacturing business, which I visited at the end of September on a press trip arranged by the Economic Development Partnership of North Carolina to the state’s Battery Belt.

Forge Battery is currently fitting out a 277,000-square-foot space (pictured above) that it’s leased in Morrisville, North Carolina, where it will manufacture ALD-enabled, high-performance (307 Wh/kg) NMC/Si-G 21700 Li-ion cells. (Forge Battery also has a newly constructed gigafactory in Raleigh, where it’s begun to produce and ship 300 Wh/kg Atomic Armor-powered lithium-ion prototype cells.)

Forge Battery told us its target market includes heavy trucking, offroad vehicles, motorcycles, and defense.

The Morrisville site will have a 1 GWh per year production capability underway in 2026 and will grow to 3 GWh per year by 2029 once it gets the power it needs from utility Duke Energy. Forge Battery’s supply chain will initially be 90% US-sourced, with the goal of a 100% US supply chain by project completion. (The 10% isn’t yet made in the US; that’s sourced from South Korea.)

The US Department of Energy recently awarded Forge Battery $100 million as part of the Bipartisan Infrastructure Law, and it will use that money to expand its production capacity to 3 GWh/year. When we visited the vast space, which will be made even larger with the new funding, preparations were underway for a press conference the next day where Governor Roy Cooper (D-NC) and US Department of Energy Secretary Jennifer Granholm were going to announce the funding officially.

That event had to be canceled due to Hurricane Helene’s impending arrival. We all left early, and at the time, none of us knew how devastating the damage would be to the western part of the state.

Read more: Forge Battery says its 21700 EV batteries fast charge in 10 minutes

Electrek’s Take

When people ask what the Biden administration has been up to over the last few years, Forge Battery is a great example of the mind-blowing domestic clean energy and EV growth the federal government (and the state of North Carolina) is supporting. It’s mind-boggling to think that all of this has happened in just a few short years. Good policy gets real-world results, and it was great to see it in person.

Forge Nano and Forge Battery are creating better-performing EV batteries. These should encourage more people to adopt EVs. They’re also creating direct and indirect jobs in North Carolina and elsewhere. And most importantly, the product they build encourages people to stop burning fossil fuels that warm the earth with emissions and create ever more intense hurricanes like Helene that devastate communities and lives.

If you are in a position to help, the state’s North Carolina Disaster Relief Fund is accepting donations to support the communities most impacted.

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Hyundai’s supplier is building a new EV parts plant in Slovakia to conquer European market

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Hyundai's supplier is building a new EV parts plant in Slovakia to conquer European market

Hyundai Motor Group’s supplier, Hyundai Mobis, is investing around $256 million (350 billion won) in building new plants in Slovakia for EV parts. The base will include Hyundai’s first EV power systems production plant in the region, a “key bridgehead for conquering the European electrification market.”

Hyundai Mobis, the “parts and service” unit for Hyundai Motor Group (including Kia and Genesis), is the world’s fifth-largest auto parts maker.

The company supplies parts to automakers outside of Hyundai, including Volkswagen and Mercedes-Benz. To support its expansion in the world’s second-largest EV market, Hyundai Mobis announced it’s building a new EV parts plant in Slovakia.

To establish its new production base, Hyundai Mobis will invest a total of around $256 million (350 billion won).

The site is about the size of 14 soccer fields (105,700 sq. ft.) in total. It will include Hyundai’s first power electric (PE) systems production plant in Europe.

Hyundai’s supplier said the goal is to get it up and running in the second half of next year. Once complete, the PE production base can build up to 300,000 PE systems annually. The company is also building a new plant for EV braking systems at its existing Zilina facility.

Hyundai-EV-plant-Slovakia
Hyundai IONIQ 5 “crab walking” with e-Corner tech from Hyundai Mobis (Source: Hyundai Mobis)

Hyundai Mobis is already building EV battery systems (BSA) in the Czech Republic. A new BSA plant is also being built in Spain to supply Volkswagen.

Hyundai Mobis to build new EV parts plant in Slovakia

The PE system integrates the electric motor, inverter, and reducer. Meanwhile, the BSA includes the battery management system, battery pack, and other components for safe, efficient operation. Both are key eV components.

The company announced a “large-scale order” from Volkswagen last year to power its next-gen EVs.

Hyundai-EV-plant-Slovakia
Hyundai Mobis next-gen in-vehicle display (Source: Hyundai Mobis)

Hyundai Mobis said the new EV parts plant in Slovakia is part of its plan to expand its global footprint.

Slovakia is home to leading automakers, including Kia, Volkswagen, Stellantis, and Jaguar Land Rover. The company said its new production base will be a “key bridgehead for conquering the European electrification market.”

Hyundai Mobis said it still expects Europe’s electric vehicle market to “grow steadily” despite several automakers adjusting their EV goals.

Hyundai-EV-plant-Slovakia
Hyundai Mobis rollable vehicle display (Source: Hyundai Mobis)

The company is also expanding its presence in North America with a local battery and PE systems production base, which will open later this year.

As the industry shifts to electric, Hyundai Mobis continues to lead the charge with new innovations in autonomous driving, advanced sensors, parking assist systems, next-gen displays, and infotainment connectivity.

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