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Conifer locks down $20M seed round for its ‘drop-in’ electric hub motor
Apr 16, 2025
A group of engineers from Lucid Motors and Apple's electric car project has launched a startup redefining electric hub motors. They focus on cost-effective designs using ferrite magnets. The startup secured a $20M seed round, highlighting their innovative approach. With potential impacts on the small mobility sector, they aim to reshape the future of electric transportation. Tune in to hear about their vision and market strategies!
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Quick takeaways
- Conifer's innovative electric hub motor utilizes ferrite magnets to lower costs and reduce supply chain risks amid trade tensions.
- The startup's drop-in replacement capability for existing hub motors simplifies adoption, enhancing efficiency and promising better vehicle range.
Deep dives
Innovative Approach to Electric Hub Motors
A new startup called Conifer has introduced an innovative electric hub motor designed without rare-earth elements, utilizing ferrite magnets instead. This design not only lowers costs but also mitigates supply chain risks during a time of increasing tariffs and trade tensions. Conifer's proprietary Stator offers superior efficiency and power in a more compact size compared to traditional motors, which has contributed to securing a $20 million seed round from notable investors. The startup aims to capitalize on this technological advancement within the rapidly evolving electric vehicle market, particularly focusing on small mobility applications such as scooters, lawnmowers, and tractors.
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