For the last three months of 2022, we will discuss why Lit Motors’ AEV platform is poised to positively diversify the automotive industry. 2023 should be an exciting year for our community and investors with our dream engineering team, controls patent portfolio, and a specific product/market fit with EV’s trajectory.
In this blog post, we will focus on the 2022 Gartner Automotive Report. November, we will discuss the New Tech Adoption Curve within the Hype Cycle. Lastly, in December, we will outline the innate features of the AEV’s product architecture and the keys to its success.
Lit Motors inherently solves for five of the ten trends. Here’s where we fit in:
(3) Regular AV Service Start: Lit Motors has a Collision Mitigation patent for the AEV platform in the future. We are positioned to expand our self-balancing platform for AV taxi and delivery services as the market widely accepts autonomous vehicles in 7-10 years. With safety as paramount to reducing int’l transportation’s spatial footprint (traffic & parking) & energy consumption, we believe this is a viable vertical for Lit.
(5) EV User Convenience and Services: In 2022, with the new foothold EVs have globally (50+ NEV companies in China & 21 Auto OEMs in North America) it is clear EVs are here to stay. Consumer pain points with infrastructure for charging and other underserved markets compared to ICE cars, need to be addressed. When Lit Motors comes to market in 2.5-5 years, we will benefit from the creative business models introduced. Additionally, government-funded charging infrastructure built from the Inflation Reduction Act will increase the adoption rate of all types of EVs.
(7) Chinese EVs Go Global: Automakers are making major investments in the lithium EV market. The previous uncertainty of lithium vs hydrogen is far less likely to become a factor. We foresaw this at Lit Motors which is why we chose to be energy agnostic, hedging lithium as the winner although a limited resource. Providing all or even 1/4th of cars on the road today with a lithium-ion battery pack is impossible and wasteful considering its lifecycle. Considering that 50-70% of all cars driven today are driven alone, the only “sustainable” ownership model (full/shared) is to create/offer a more efficient, smaller, lighter, and safe EV that has the same value proposition as a traditional car. This would 6X the use of the lithium resources by miles per kWh.
(9) CAAS Models Merge: Our AEV platform has a low parts count, 1/5th the GVWR, and per 1 kWh = 11-13 miles. The operational cost of an AEV should be exceptionally competitive compared to 4 wheeled EV: delivery and taxi. As a service, this should pass on lower pricing to a larger consumer market with a healthy margin encouraging fleet sales.
(10) Manufacturing Overhaul for Speed: The AEV has an inherent advantage in manufacturing when considering our architecture. Our current BOM has 1/10th of the parts count of an ICE and 1/6 of an EV. Significantly fewer parts are involved for a faster production time, and less risk with the equivalent value proposition. Even though legacy automakers have been slower to transition to more efficient manufacturing processes than companies such as Tesla, many have heavily invested in the groundwork and development to be able to better compete in the EV market. Lit can only benefit from adopting these strategies.
More in the next blog post!