This electric pickup render is worth $125 million?
Alpha Motor is raising money from small investors at $125 million for its electric pickup truck that is nothing more than a few renders and a pusher model.
We reported on Alpha Motor after it was all over the media for unveiling renders and specs on the Alpha Motor Electric Wolf, an electric pickup truck.
Starting at just $36,000 with specs like 275 miles of range, the Wolf grabbed people’s attention; the retro-looking design was also appealing to many.
However, the company offered very little information as to who was behind the effort and how they would deliver this product.
At the time, we dug into the filing and couldn’t find anyone with real engineering background behind the effort, casting doubts about the claims made in the original release and the seriousness of the effort as a whole.
Now Alpha Motor has launched a crowdfunding effort to raise up to $5 million at a valuation of $125 million. It has already raised almost $700,000 from 399 small investors:
That’s an ambitious valuation for a company that doesn’t even appear to have a prototype other than a non-working model that it displayed at the Petersen Museum.
Furthermore, the team, which has now been clarified since the original filing, doesn’t have any engineering experience to develop these ambitious electric vehicles.
The person with the most automotive experience appears to be the founder and CEO Edward Lee, but his experience is limited to exterior design.
Kevin Lee – listed as chief of research and development – is responsible for R&D at Alpha. His profile on the crowdfunding profile claims that he has “over 17 years of experience leading the development process of vehicles from concept to production stages, which includes the successful Tesla Model 3.”
However, when looking at his work history, it appears that Lee is a modeler and not an engineer. He graduated from the Art Center College of Design like the CEO.
A SEC filing shows that the company is relying on having 52,000 of what it calls “pre-order indications” to justify its $125 million valuation. That’s a strange term, and the company appears to use it to stay on the cautious side of things as many EV startups have been accused of exaggerating pre-orders.
In Alpha’s case, the company’s “pre-order indications” are non-binding and don’t require a deposit; therefore, they basically represent the lowest form of a show of interest in Alpha’s vehicles.
According to the same filing, Alpha has so far only managed to raise $1 million in the form of a convertible note from two individuals who are related to CEO, Edward Lee.
Depending on how much Alpha can raise in this round, it expects to be able to support itself for the next 7 to 13 months. They plan to use the proceeds to try to find further investments in order to bring its electric vehicles to market around 2025.
Like Fisker, they plan to work with other companies to produce the vehicles.
Electrek’s Take
I don’t like to talk negatively about entrepreneurship in the EV space, but I just don’t think this is a serious effort, and the route they are taking with a Regulation A crowdfunding shows that.
$125 million valuation for what basically amounts to a few cool designs is ridiculous; don’t get me wrong, the designs are cool, and this seems to be this team’s strength. But they got those 50,000+ shows of interest not only for the designs but also from them promising impressive EV specs at a $36,000 price point.
No one with decent knowledge of the EV industry believes that they can deliver that without some significant engineering advancements. They don’t seem to have the team to do that, so it’s just all make believe at this point.
Also, the auto industry is super capital-intensive, and bringing a vehicle to market generally takes over $500 million. Crowdfunding is generally last resort, and they are going to have a tough time raising that if they are already going to crowdfunding.
I am extremely skeptical of any EV startup going through crowdfunding like Atlis Motor and now Alpha Motor. Even companies like Aptera I tend to keep a healthy skepticism about, but I do believe they have a better chance since they are not trying to bring a full vehicle to market. Aptera’s trike is subject to fewer regulations than a full-size car and is, therefore, a lot less costly to bring to market.
Either way, you should be extremely cautious about investing in any EV startup, especially those doing crowdfunding.
FTC: We use income earning auto affiliate links. More.
Burlingame, California-based Peak Energy just scored a huge win for sodium-ion batteries. The company announced a multi-year deal with utility-scale battery storage developer Jupiter Power to supply up to 4.75 GWh of sodium-ion battery systems between 2027 and 2030.
Under the agreement, Peak will deliver 720 MWh of storage in 2027 – the largest single sodium-ion battery deployment announced so far. The deal also includes an option for an additional 4 GWh of capacity through 2030, bringing the total contract value to more than $500 million.
Sodium-ion vs. lithium-ion
Peak Energy says its sodium-ion batteries degrade less over time and have lower operations and maintenance costs than lithium-ion systems. Because the batteries don’t degrade as quickly, operators don’t need to add more capacity later in a project’s life to maintain performance. They also use a fully passive cooling system that eliminates pumps, fans, and other components used in lithium-ion setups, reducing maintenance and safety risks.
The company claims its grid-scale sodium-ion system uses up to 97% less auxiliary power, offers about 30% better cell degradation performance over 20 years, and comes with a lower total cost of ownership.
Why this deal matters
The agreement marks a significant step forward for the emerging sodium-ion sector, which has been gaining momentum as a safer and lower-cost alternative to lithium-ion for long-duration and grid-scale energy storage. It also underscores the growing effort to build a domestic sodium-ion battery supply chain in the US.
“From day one, we’ve believed sodium-ion will be the winning technology for grid-scale storage, which is essential to meet rising demand from hyperscalers and AI,” said Landon Mossburg, Peak Energy’s CEO and cofounder. “Deploying the world’s largest sodium-ion energy storage system with one of the nation’s top independent power producers proves that sodium is ready for today and will dominate the future.”
Mike Geier, CTO at Jupiter Power, said the company is “excited to support domestic battery energy storage manufacturing as we continue to increase the deployment of firm, dispatchable energy when and where it’s most needed,” and called Peak’s approach to sodium-ion “a potential game changer for the industry.”
Read more: The US’s first grid-scale sodium-ion battery is now online
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
![The new 2026 Lexus ES is an upgrade in just about every way [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/11/new-2026-Lexus-ES-EV.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Lexus claims the new ES “takes sedan styling, luxury, and refinement to a higher level” with a complete redesign. With the 2026 ES arriving soon, Lexus offered a closer look at the upgrades inside and out.
The new 2026 Lexus ES debuts in EV and hybrid forms
The eighth-gen ES is bringing more than a sharp new style. Lexus overhauled its flagship sedan from the ground up for the 2026 model year, which will include battery electric (BEV) and hybrid (HEV) powertrain options.
Inspired by the radical LF-ZC show car, the 2026 ES has been fully redesigned with what Lexus calls the “Experience Elegance and Electrified Sedan” concept, aimed at further refining the driving experience.
The new design centers on a redesigned “spindle body” that extends from the hood to the bumper. It also features a redesigned grille, replacing the signature Lexus spindle grille as the brand looks for a new identity in the electric era.
Inside, the new 2026 ES features the latest version of the Lexus Interface multimedia system. The setup includes a 14″ touchscreen with wireless Apple CarPlay and Android Auto, and a 12.3″ driver display cluster.
Based on the redesigned TNGA GA-K platform, the new ES will be available in battery electric (BEV) and hybrid (HEV) powertrains for the first time.
The 2026 Lexus ES lineup consists of two models: the ES 350e, a front-wheel-drive (FWD) model, and the ES 500e, an all-wheel-drive (AWD) model.
Lexus expects the ES 350e to have a driving range of 300 miles when fitted with 19″ wheels, while the ES 500e has an estimated driving range of 250 miles.
Both the ES 350e and 500e feature a built-in NACS port to recharge at Tesla Superchargers. Using DC fast charging, it can recharge from 10% to 80% in about 30 minutes under “ideal conditions,” according to Lexus.
With its debut just around the corner, Lexus offered a closer look at the new 2026 ES inside and out in a new video.
Lexus has yet to announce prices, but the redesigned ES is expected to start at about $45,000 to $50,000, or slightly more than the outgoing model.
After launching the upgraded RZ earlier this month, Lexus said the ES would be next. It’s expected to go on sale in Spring 2026.
What do you think of the redesigned 2026 ES? Do you like the new Lexus design? Let us know your thoughts in the comments below.
FTC: We use income earning auto affiliate links. More.
Tesla has launched a new version of the Model Y in China, and it’s achieving an impressive new range rating – thanks to a new battery cell from South Korea’s LG.
The new variant, a five-seat, rear-wheel drive long-range model, has been released with an 821-km range based on China’s CLTC standard.
While the CLTC rating is known to be optimistic, 821 km (about 510 miles) is an impressive number and the longest range Tesla has offered in its Model Y lineup to date, which is going to help it be more competitive in the Chinese market.
This new extended range Model Y version is made possible by using the 78.4-kWh ternary lithium-ion battery pack from LG Energy Solution, the same pack found in the also recently launched 830-km range Model 3 variant.
The new long-range RWD Model Y starts at RMB 288,500, which translates to just over $40,500 USD.
The launch comes at a critical time for Tesla in China, which has seen its sales slump in recent months. The automaker recorded its lowest monthly sales in October since November 2022, falling out of the top 10 list for new energy vehicle (NEV) sales.
That’s despite a continued surge in electric vehicle sales in China. Tesla is not benefiting from it amid strong competition.
According to local Chinese media reports, the new 821-km Model Y is already gaining traction with some anecdotal reports of enthusiasm at Tesla stores.
The reports are partly supported by Tesla quickly extending delivery timelines from 2-4 weeks to 4-6 weeks just hours after launch.
Electrek’s Take
I think this is going to be suitable for a decent short-term bump in demand, but it’s still on the expensive side for the Chinese market.
For example, now the Model Y beats the Xpeng G6’s max range of 755 km, but the G6 with this range costs 234,900 RMB (approximately $32,900 USD), which is significantly cheaper.
Every 10,000 RMB tranche lower means a lot more demand in China.
Tesla needs to launch its new “standard” versions to start making a difference with demand long term in China.
FTC: We use income earning auto affiliate links. More.
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024