Conifer, a new startup founded by engineers from Lucid Motors and Apple’s electric car project, has developed a novel electric hub motor that uses more abundant ferrite magnets, reducing cost and supply chain risk. The motor is designed to be highly efficient and powerful, with the potential to improve range by 10% in electric vehicles. Conifer has secured a $20 million seed round from deep tech investors and is targeting the small mobility space with its drop-in motor.
Forecast for 6 months: Conifer will announce its first major customer partnerships, potentially with lawnmower and tractor makers, and begin shipping production motors to these customers.
Forecast for 1 year: Conifer will expand its manufacturing capabilities to meet growing demand, and its motors will become a standard feature in several small mobility vehicles.
Forecast for 5 years: Conifer’s innovative motor design will become a benchmark for the industry, and the company will have established a strong presence in the global electric vehicle market.
Forecast for 10 years: Conifer will have become a leading player in the electric vehicle powertrain market, with its motors used in a wide range of applications, from small mobility vehicles to larger electric cars.
