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August Newsletter
- Lit Motors
- 1 day ago
- 3 min read
Dear Lit Motors Community,
We hope you’ve been staying cool as summer begins to wind down and we prepare for autumn. Here’s this month’s update!
🎥 Brian Hamilton Interview
We recently sat down with Brian Hamilton, our newest Controls Engineer, to talk about his time at Honeywell and what drew him to Lit Motors. Brian is a retired Engineering Fellow from Honeywell Aerospace.
In this interview, he shares his experience working on Control Moment Gyroscope Systems and why the mission at Lit resonates with him.
With 42 years of experience in Dynamics and Controls in advanced aerospace systems, Brian’s insights and technical rigor are proving to be invaluable as he’s working closely with David Bailey (VP of Controls) and the Dynamics team to further enhance our CMG performance and scale our system for real-world applications.
‘Mini’ 1.0
The Portland team has completed fabrication of the custom aluminum mounts according to Michael Bailey’s specs for the ‘Mini’. Once they arrive in Arizona, he will install them and begin the integration of the electronics on the rear and determine mounting of the sub-scale gyros, suspension, and steering assembly.
Industry News
As we discussed in 2022 (links below), the EV market continues to mature.
OEMs Pivot - Gartner Report - Lit Motors - November 2022 Newsletter
Creating Balance - Lit Motors - December 2022 Newsletter
Regardless of the anticipated Q3 spike that is being driven by the expiration of federal incentives next month, there is little question that the EV market is currently stuck in what Gartner calls the Trough of Disillusionment.
We at Lit share the belief that this is a temporary and that we will see the EV market develop into a long term, sustainable market with mass adoption.
EV Hype Cycle: McKinsey & Company
There are plenty of signals that indicate that the market is poised to enter the “Slope of Enlightenment” – increased competition among OEMs for traditional 4-wheel EVs, continued investment in charging infrastructure, ongoing battery innovation and other dynamics will all help to close the cost gap between EVs and ICE vehicles and drive the industry forward.
On current timelines, Lit will launch into a market that is on the “Slope of Enlightenment” or entering the “Plateau of Productivity.” This is an ideal environment for the introduction of an innovation like ours. As the global market matures into mass adoption, consumers will be seeking new innovations and disruptions which Lit is uniquely poised to deliver upon.
At the same time, we’ll be well positioned to take advantage of the industry-wide advances. We’ve started to see that as reflected in the strong interest from our crowdfunding campaign, private investments, and a surge in pre-orders.
Climate Week Investors Circle Happy Hour Event
We were asked this past month to participate in a two day event held at Continuous Solutions in Portland, Oregon. CEO Danny Kim was one of the featured presenters during this event.
Our Portland team also brought over our EP4 Prototype and the Subscale CMGs for demonstrations. This was a great opportunity to showcase our company, and connect with other startups and investors.
Stats from last month’s Survey
Here are the results from last month’s survey. With just over 60% of survey respondents who own an EV, the results show that the main reasons for owning an EV are mission driven, lower total costs, and tech forwardness.
When it comes to those who don’t yet own an EV, the majority of responses indicate that cost, range anxiety, and charging challenges are the main factors holding them back.
More updates coming soon. Thanks for being part of Lit!
Danny Kim
