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The Hyundai Motor Group plans to build its own LFP batteries to support cheaper EV prices. Industry sources said the automaker is expected to introduce LFP batteries in Hyundai and Kia electric cars from 2025.

At its 2023 investor day in June, Hyundai revealed a $7.3 billion investment ( KRW 9.5 trillion) to develop EV batteries over the next ten years.

Hyundai said it was leveraging its position “amidst a seismic change in the industry.” The plans include co-developing NCM, LFP, and solid-state batteries to improve range while lowering costs.

The automaker said it had formed a dedicated unit for each component of battery development. The first Hyundai EVs with competitively priced LFP batteries will arrive in 2025.

Hyundai said its new LFP battery-powered electric models will feature increased energy density and improved low-temp efficiency.

According to local media reports (via The Korea Herald), Hyundai will complete the development of its LFP batteries in 2024. The move is expected to reduce Hyundai’s reliance on China while promoting cheaper EV prices.

Hyundai-free-EV-charger
Hyundai IONIQ 5 (left) and IONIQ 6 (right) at Tesla Supercharger (Source: Hyundai)

Hyundai to build cheaper EV batteries

Hyundai teamed up with other South Korean industry leaders this year, including battery giants SK On and LG Energy Solutions, to advance EV sales in the region.

The first Hyundai-made NCM battery was featured in the Sante Fe hybrid, launched in August. The company’s new battery (developed with SK) improved battery efficiency by about 10% compared to the previous model.

Hyundai-cheaper-EV-batteries
2024 Hyundai Kona electric (Source: Hyundai)

Hyundai looks to maximize battery cell capacity to its highest level of over 60 amps. Meanwhile, its energy density is expected to be around 300 watts per kg. The automaker aims to boost capacity to that of premium NCM batteries.

Currently, the Hyundai Kona EV and the new Kia Ray EV are powered by LFP batteries from China’s CATL.

Hyundai-cheaper-EV-batteries
Kia Ray EV (Source: Kia)

The move comes as Hyundai aims to detach from China by producing cheaper LFP batteries in-house.

“Like the world’s top EV makers Tesla and BYD, if Hyundai develops more EV batteries, it can boost production and cut the overall costs,” explained Lee Ho-geun, a car engineering professor at Daeduk University.

The cheaper LFP batteries will be installed in Hyundai and Kia entry-level and mid-priced EV models from 2025.

Electrek’s Take

Demand for affordable EVs continues rising across the top auto markets globally. China’s largest EV maker, BYD, is seeing record growth with low-priced EV models like the Dolphin electric hatchback and Yuan Plus (Atto 3), which start at around $20,000 in many markets.

BYD also makes its own batteries and outsources to other companies, including Kia, Tesla, Toyota, and others. The auto giant posted a record $1.4 billion in Q3 profits despite the intensifying EV price war in China and overseas.

By producing batteries (especially cheaper ones), Hyundai will set itself up for success as the industry transitions to EVs.

Hyundai aims to be a top three EV producer by the end of the decade. Building cheaper batteries in-house will be a good start.

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Go West, young brand – GreenPower Motor Company sells 11 more BEAST buses

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Go West, young brand – GreenPower Motor Company sells 11 more BEAST buses

GreenPower Motor Company says it’s received three orders for 11 of its BEAST electric Type D school buses for western state school districts in Arizona, California, and Oregon.

GreenPower hasn’t made the sort of headline-grabbing promises or big-money commitments that companies like Nikola and Lion Electric have, but while those companies are floundering GPM seems to be plugging away, taking orders where it can and actually delivering buses to schools. Late last year, the company scored 11 more orders for its flagship BEAST electric school bus.

As far as these latest orders go, the breakdown is:

  • seven to Los Banos Unified School District in Los Banos, California
  • two for the Hood River County School District in Hood River, Oregon
  • two for the Casa Grande Elementary School District in Casa Grande, Arizona

Those two BEAST electric school buses for Arizona will join another 90-passenger BEAST that was delivered to Phoenix Elementary School District #1, which operates 15 schools in the center of Phoenix, late last year.

“As school districts continue to make the change from NOx emitting diesel school buses to a cleaner, healthier means of transporting students, school district transportation departments are pursuing the gold standard of the industry – the GreenPower all-electric, purpose-built (BEAST) school buses,” said Paul Start, GreenPower’s Vice President of Sales, School Bus Group. “(The) GreenPower school bus order pipeline and production schedule are both at record levels with sales projections for (2025) set to eclipse the 2024 calendar year.”

GreenPower moved into an 80,000-square-foot production facility in South Charleston, West Virigina in August 2022, and delivered its first buses to that state the following year.

Electrek’s Take

GreenPower electric school buses
BEAST and NanoBEAST; via GreenPower Motor Company.

Since the first horseless carriage companies started operating 100 years ago (give or take), at least 1,900 different companies have been formed in the US, producing over 3,000 brands of American automobiles. By the mid 1980s, that had distilled down to “the big 3.”

All of which is to say: don’t let the recent round of bankruptcies fool you – startups in the car and truck industry is business as usual, but some of these companies will stick around. If you’re wondering which ones, look to the ones that are making units, not promises.

SOURCE | IMAGES: GreenPower Motors.

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Harbinger electric truck brand gets real with $100M Series B funding raise

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Harbinger electric truck brand gets real with 0M Series B funding raise

While some recent high-profile bankruptcies have cast doubt on the EV startup space recently, medium-duty electric truck maker Harbinger got a shot of credibility this week with a massive $100 million Series B funding round co-led by Capricorn’s Technology Impact Fund.

It’s been a rough couple of weeks for fledgling EV brands like Lion Electric and Canoo, but box van builder Harbinger is bucking the trend, fueling its latest funding round with an order book of 4,690 vehicles that’s valued at nearly $500 million. Some of the company’s more notable customers including Bimbo Bakeries (which owns brands like Sara Lee, Thomas’, and Entenmann’s) and THOR Industries (Airstream, Jayco, Thor), which is also one of the investors in the Series B.

Other prominent investors include Tiger Global, the Coca-Cola System Sustainability Fund, and ArcTern Ventures.

As for what makes Harbinger such an attractive investment prospect, Dipender Saluja, Managing Partner of Capricorn Investment Group’s Technology Impact Fund explains that, “Harbinger has demonstrated a remarkable ability to reach significant milestones far quicker than other EV companies … the market has been impressed by their ability to develop large portions of the vehicle in-house to drive down unit costs, while remaining capital efficient.”

The company plans to use the funds to ramp up to higher-volume production capacity and deliver on existing orders, as well as build-out of the company’s sales, customer support, and service operations.

“Harbinger is entering a rapid growth phase where we are focused on scaling production of our customer-ready platform,” said John Harris, co-founder and CEO. “These funds catalyze significant revenue generation. We’ve developed a vehicle for a segment that is ripe for electrification, and there is a strong product/market fit that will help fuel our upward trajectory through 2025 and beyond.”

The company has raised $200 million since its inception in 2021.

SOURCE | IMAGES: Harbinger.

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Michigan State Police deploy their first electric patrol vehicle

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Michigan State Police deploy their first electric patrol vehicle

There is no state more associated with cars and car culture than Michigan – and the state that’s home to the Motor City has just taken a huge step into the future with the deployment of its first-ever all electric police vehicle.

The 2024 Ford Mustang Mach-E patrol vehicle is assigned to the Michigan State Police State Security Operations Section, and will be to be used by armed, uniformed members of the MSP specializing in general law enforcement and security services at state-owned facilities in the Lansing, MI area.

“This is an exciting opportunity for us to research, in real time, how a battery electric vehicle performs on patrol,” says Col. James F. Grady II, director of the MSP. “Our state properties security officers patrol a substantially smaller number of miles per day than our troopers and motor carrier officers, within city limits and at lower speeds, coupled with the availability of charging infrastructure in downtown Lansing, making this the ideal environment to test the capabilities of a police-package battery electric vehicle.”

The MSP’s Precision Driving Unit is nationally renowned for its annual Police Vehicle Evaluation, which our own Scooter Doll participated in last year, driving the then-new Chevy Blazer EV Police Pursuit Vehicles in a game of “cops and robbers.”

In those tests, the EVs have impressed – but the MSP has been hesitant to commit to a BEV until now. “We began testing battery electric vehicles in 2022, but up until now hybrids were the only alternative fuel vehicle in our fleet,” said Lt. Nicholas Darlington, commander of the Precision Driving Unit. “Adding this battery electric vehicle to our patrol fleet will allow us to study the vehicle’s performance long-term to determine if there is a potential for cost savings and broader applicability within our fleet.”

Michigan joins other states like Wisconsin and California in deploying electric patrol cars and saving big money on fuel and maintenance, with many more out there and many more to come.

SOURCE | IMAGES: Michigan State Police.

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