LOS ANGELES – Equity Insider – Sales of passenger electric vehicles (EV) are projected to sharply increase, rising from 3 million in 2020 to 66 million in 2040, according to BloombergNEF’s Economic Transition Scenario—equating to roughly two-thirds of new car sales. On the road towards this EV revolution, new makes and models are hitting the roads coming not only from Tesla, Inc. (NASDAQ:TSLA), General Motors Company(NYSE:GM), and Ford Motor Company (NYSE:F), but also from rising entities such as EV Battery Technologies (CSE:ACDC) and Lordstown Motors (NASDAW:RIDE).

Utilizing its proprietary IoniX Pro technology, EV Battery Technologies (CSE:ACDC) recently announced the launch of its IoniX Pro Trilogy Vision Electric Vehicle (EV) line being developed in collaboration with Daymak International Inc. As per the terms of the collaboration, EV Battery Technologies and its wholly-owned subsidiary IoniX Pro Battery Technologies Inc. retain exclusive worldwide rights to build an EV based on the Daymak Spiritus.

“The Trilogy Line has been designed by some of the best and brightest individuals in the automotive and electric vehicle industries, to bring both performance and luxury to a, thrilling, fun and eco-efficient electric vehicle,” said Bryson Goodwin, CEO of EV Battery Tech.

A fully functional prototype of the Trilogy Line is expected to be completed in early 2022, with consumer deliveries scheduled to commence in 2023.

The new line is being designed and built with smart grid integration in mind, combining Dayma’s best-selling, proven powertrain with EV Battery Tech’s revolutionary IoniX battery technology and a built-in system that utilizes the company’s proprietary blockchain technology. The Trilogy Line is being prepped to compete as one of the fastest and most eco-friendly EVs on the market.

The brain trust behind the new Trilogy Line includes Daymak CEO, Aldo Baiocchi who was responsible for the Daymak LEV designs, Tobias Duschl, who served as a vice president at Tesla, Inc. (NASDAQ: TSLA), former Ferrari N.V. engineer Gabriel Iosif and IoniX Pro Chief Innovation Officer Robert Abenante, who was responsible for the IoniX Pro product designs.

“The Trilogy Line is expected to be a leap forward for the EV industry and we are very proud to work closely with EV Battery Tech and IoniX Pro to bring forward these electric cars,” said Aldo Baiocchi, President of Daymak. “The Trilogy Line is built on Daymak’s many patents, years of design, meticulous testing and built for fun and excitement while being one of the most eco-friendly vehicles on the road.”

Competing within the commercial fleet market, Lordstown Motors (NASDAW:RIDE) recently released its second quarter results, boasting great strides towards delivering their revolutionary electric pickup truck.

“We are evaluating potential strategic partners, with multiple industry participants recognizing the tremendous advantages available to them from utilizing our well situated, 6.2 million square foot manufacturing plant and 650 acre campus,” said Lordstown Motors’ Executive Chairwoman Angela Strand. “The size and scope of our facility is such that we could easily accommodate additional manufacturing partners while still affording us the ability to build a successful Endurance program and leverage its skateboard for additional models in the years ahead.”

Lordstown has recently secured an equity purchase agreement for access to $400 million in capital, while due diligence is underway with multiple strategic partners that come with potential capital infusion as well as pursuing external capital sources including debt and equity-linked securities.

In 2022, Ford Motor Company (NYSE:F) is also slated to launch a battery-electric version of the F-150 pickup truck, Ford's cash cow and long the best-selling vehicle in the U.S. CEO Jim Farley Farley reported that the F-150 Lightning has drawn more than 120,000 non-binding reservations, with approximately 75% of those potential customers coming from other auto brands.

The transition to electric for the company is underway, as Ford representatives mentioned at a Barclay’s event that the automaker plans to spend more on EVs than it does on internal combustion engine vehicles starting in 2023.

"In 2023 ... we'll spend more on EVs than we will on ICE," said Lisa Drake, Ford’s Chief Operating Officer for North America. "We've been over the moon about the success of Mach-E, and the F-150 Lightning, by bringing in over 70% new customers to the Ford brand. What that allows us to do is, now we have an opportunity not only to lead on our ICE business, but also in the EV space with F-150. So our aspirations are high."

Ford said earlier this year that it was increasing its investments in electrification to $30 billion through 2025.The auto giant launched its first all-electric vehicle, the Mustang Mach-E SUV, late last year, and plans to launch an electric version of its popular Transit van later this year.

"The demand for our first round of high-volume EVs clearly has exceeded our most optimistic projections," CEO Farley told Wall Street analysts.

Tesla, Inc. (NASDAQ:TSLA) also released its second quarter results recently, announcing that in Q2 2021 the company produced over 206,000 vehicles, and delivered over 201,000 vehicles. At its Shanghai factory, Tesla reportedly exported 8,210 Model Y cars to Europe in July. In addition, the Shanghai factory also exported 16,137 Model 3 cars in July.

Unfortunately for the EV and battery giant, the company is undergoing a formal investigation from US regulators looking into its Autopilot system, following a series of fatal crashes that have left at least 17 people injured and 1 dead. When engaged, Tesla’s Autopilot system allows drivers to maintain speed and lane centering, however it doesn’t make the vehicle safe for driverless operation. Drivers remain responsible for identifying roadway obstacles and maneuvers from nearby vehicles.

General Motors Company (NYSE:GM) also reported strong second-quarter earnings results in early August. According to GM, the automaker was able to continue accelerating its EV and AV growth initiatives.

However, amid the results was an acknowledgement that its Chevy Bolt accounted for $800 million in recall costs, of the company’s $1.3 billion in total. The recall was the second for the Bolt, after vehicles reportedly caught fire. The recall came roughly a wekk after GM told owners not to park their vehicles inside or charge them unattended overnight.

“We’re working with our supplier and manufacturing teams to determine how to best expedite battery capacity for module replacement under the recall,” GM spokesman Dan Flores said in an email with CNBC. “These teams are working around the clock on this issue.”

Article Source: https://equity-insider.com/2021/02/09/red-hot-battery-technology-space-poised-for-great-disruption-with-new-ai-based-tech/

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