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.
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MAN Trucks are always good for a headline, but despite the company’s pro-battery bluster they’ve barely managed to get 200 battery electric semi trucks on the road … until now that is: the company announced that series production of its heavy-duty eTruck prime mover is officially underway!
Since then, we’ve talked a bit about MAN’s early BEV customers — but with just 200 trucks on the road, they’ve been few and far between. That’s all set to change now that MAN Executive Board Member for Production Michael Kobriger, together with Manfred Weber, Member of the European Parliament and Chairman of the EPP, gave the go-ahead to start the eTruck production line at the company’s Munich plant.
From now on, both electric and diesel trucks will be produced in a fully integrated mixed production process on the same line, with enough capacity to produce up to 100 eTrucks per day. (!)
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“The start of series production of our electric trucks is historic. It marks a turning point in our history,” explains Vlaskamp, enthusiastically. “The future of MAN begins now, at this very moment. The entire MAN team is proud to be actively shaping the transformation from diesel to electric drive. Our highly efficient electric trucks will make locally emission-free freight transport a reality. This is an enormously important step towards achieving our goal of becoming CO2-neutral by 2050. The fact that we can manufacture the electric trucks on the same production line as our state-of-the-art diesel trucks also gives us enormous flexibility and increases production efficiency.”
MAN says the plant’s maximum capacity is 100 trucks per day, citing about 8 hours to produce one of its heavy-duty semis. The interesting thing, though, is that it doesn’t seem to matter whether those 100 trucks are diesel- or battery-powered.
Flexible assembly
“The production of electric or diesel trucks on a single line can be flexibly adapted to market developments, and the vehicles can be built exactly in the order in which they are ordered by customers. This innovative concept is accompanied by extensive changes along the assembly line as well as in the supply chain and logistics,” says Kobriger, citing that while ICE trucks are initially fitted with axles, tanks and exhaust systems, the electric models are instead fitted with two batteries under the cab together with a “power pack” of electrical components.
All 5,000+ Munich-plant MAN employees have been trained in high-voltage technology in preparation for this “transformation” of the facility. The company says it has 700 of its 740 km (about 450 mile) battery electric trucks already sold, with more sales sure to come as availability ramps up to meet demand.
Electrek’s Take
Historic: eTruck production begins; via MAN.
Betting against Tesla has been bad business for well over a decade now, but with MAN now capable of putting out about as many electric semi trucks in a single day as Tesla has in the last ::checks notes:: eight years since the official launch of the Tesla Semi concept, it’s hard to imagine them catching up — and harder still to see them catching up with Volvo or Renault, each of who have logged tens of millions of electric semi miles in recent years.
That said, Tesla has beaten legacy brands with massive, seemingly insurmountable leads before – but the good news is that, when it comes to EVs, whoever wins, we kind of all win, you know? Even Elon! That’s my take, anyway. Head down to the comments and let me know yours.
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New York City is creating a new department aimed at cracking down on e-bike delivery workers, and critics say it’s the latest move in a growing pattern of targeting micromobility riders instead of the real threats on the road.
Buried inside NYC’s new $116 billion city budget is a plan to hire 45 new unarmed peace officers tasked with enforcing laws against delivery cyclists, particularly those riding e-bikes and mopeds. The new officers will work under the just-announced Department of Sustainable Delivery, a division of the Department of Transportation set to deploy in 2028.
Mayor Eric Adams says the department will help improve street safety and hold delivery app companies accountable for the pressure they put on gig workers. “The newly created Department of Sustainable Delivery is yet another step that we’re taking to support delivery workers, keep pedestrians safe, and hold delivery app companies accountable for placing unrealistic expectations on their workers that put New Yorkers in harm’s way,” Adams explained in a published statement.
But the move is already raising red flags among advocates for delivery workers and cycling safety, who warn that these efforts could lead to increased surveillance and policing of low-income, often immigrant workers, many of whom already operate under grueling conditions just to make ends meet.
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The officers will be trained to issue moving violations and enforce commercial cycling laws, though city officials haven’t clarified exactly how they’ll distinguish between a reckless rider and one simply hustling to meet the often unrealistic delivery windows imposed by apps like Uber Eats, DoorDash, and Grubhub.
While Adams frames the effort as a safety initiative, critics argue it’s another example of micromobility scapegoating. Just last month, he imposed a 15 mph speed limit on e-bikes across the city, in a move that advocates say ignores the realities of urban riding and fails to address the vastly greater danger posed by cars and trucks. The administration also moved to undo a redesign of Bedford Avenue in Brooklyn, rolling back a protected bike lane project that city data showed had improved safety.
Delivery riders in NYC, many of whom are immigrants working long shifts in all weather conditions, overwhelmingly use e-bikes to cover more ground, more quickly. These workers have been essential to the city’s economy, especially during the COVID-19 pandemic. Yet they continue to face increasing scrutiny from law enforcement, often for minor infractions, even as drivers of multi-ton vehicles are rarely held to the same standard.
City Council spokesperson Mara Davis acknowledged the concerns, stating, “There are always concerns about any new policy that could give way to discriminatory policing of delivery workers and immigrants. We remain in discussions with advocates and constructive members of the mayoral administration to advance solutions on e-bike safety, sustainable delivery, and street safety.”
Despite the rhetoric about safety, the data paints a different picture. City statistics show that e-bikes account for less than 4% of traffic-related injuries, and Gothamist pointed out that only six pedestrian fatalities involving e-bike riders were reported between 2021 and 2024. Meanwhile, cars and trucks continue to kill hundreds of New Yorkers every year. But rather than increasing enforcement on reckless drivers or investing more in safe bike infrastructure, the city is spending taxpayer money to police bicycles.
Electrek’s Take
In a city desperately trying to transition to more sustainable forms of transportation, I just don’t think that increasing pressure on the people doing the most riding is the answer. Delivery workers are part of the solution to car dependence, not the problem.
If NYC wants cleaner, safer streets, the focus should be on supporting these riders with safe infrastructure, affordable bikes, and better labor protections – not treating them like traffic scofflaws. Yes, enforcement is important. And yes, dangerous riders should be penalized to the full extent of the law, especially when they pose a real threat to pedestrians. But let’s not pretend like that’s what this about. If we cared about pedestrian safety, we’d be increasing enforcement to prevent the hundreds killed every year by cars in NYC – not the two pedestrians killed by e-bikes.
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China’s EV leader, BYD, just reached another major breakthrough: its smart parking feature now offers L4 autonomy. To sweeten the deal, BYD says it will fully cover any losses associated with the new feature.
BYD becomes the first to achieve L4 smart parking
BYD said it was coming soon. Earlier this week, BYD posted on Weibo that it’s about to launch “the largest-scale smart driving OTA in history.”
On Wednesday, BYD confirmed that its smart parking system now offers L4 autonomy, becoming the first to achieve the feat. In a statement, the company said, “BYD is the first to achieve L4-level smart parking, and the official promise is to provide a safety guarantee.”
The company is also pledging to cover any losses tied to the feature. Instead of going through their insurance company, drivers can contact BYD’s after-sales team to handle the incident.
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All BYD vehicles equipped with its God’s Eye smart driving system can get the upgrade. Earlier this year, the EV maker upgraded 21 of its best-selling vehicles with its God’s Eye system, at no additional cost.
The breakthrough comes after BYD announced earlier this week that there are now over 1 million vehicles on the road with its God’s Eye smart driving system. With L4 smart parking, the vehicle can operate without human interaction under certain conditions.
And that’s not all. BYD also said it’s pushing new OTA updates for its God’s Eye B and C systems. God’s Eye B will gain new functions, including multiple U-turns, detours, and a three-speed parking feature. Meanwhile, God’s Eye C is set to receive front parking and lane change reminders.
BYD’s smart driving system has three levels: A, B, and C. The A system is primarily reserved for the ultra-luxury Yangwang brand, while B is used for Denza and some premium BYD brand models. The God’s Eye C system is used for lower-cost BYD vehicles, such as the Seagull EV, its top seller in China.
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