Monthly Archives: July 2016

Investment Into Auto Tech On Pace To Break Annual Records

Investment Into Auto Tech On Pace To Break Annual Records

Investment Into Auto Tech On Pace To Break Annual Records

“Not all the Auto tech investment action is in the USA!

2015 marked a record year for deals to auto tech startups as a growing host of private companies have begun targeting various categories within the automotive ecosystem. In 2016, investor interest has been further piqued by deep-pocketed corporates on the hunt in the space, with GM acquiring self-driving tech startup Cruise in March as well as Verizon purchasing connected vehicle company Telogis in June.

With these developments in mind, we used CB Insights data to analyze how financing trends in the space have evolved in 2016. We define auto tech as companies that use software to improve safety, convenience, and efficiency in cars, specifically looking at:

  • Assisted Driving/Autonomous Software
  • Driver Safety Tools
  • Connected Vehicle/Driving Data
  • Fleet Telematics
  • Vehicle-to-Vehicle Communication
  • Auto Cybersecurity

With $450M invested across 36 deals to date, 2016 is off to an even hotter start than last year, with a funding total already just shy of 2015′s full-year figure of $478M. At their current run rates, both deals and dollars to private auto tech companies are on track for fresh annual highs. If dollar funding in particular sustains its momentum, it will finally eclipse the mark set in 2013 (which was largely attributable to a $400M financing to Mobileye).

As autonomous driving startups have caught the eye of investors and industry observers alike, it’s not shocking that the biggest deal thus far went to Zoox, which completed a $200M financing towards the close of June from investors such as DFJ and Lux Capital.

Over half a dozen other early-stage self-driving startups have also raised in 2016 to date, including five that we examined in early June and the UK-based FiveAI just this week.

Other fields of auto tech have seen strong interest as well. Nexar and Pearl Automation raised in June, with both startups leveraging smartphones to provide advanced driver safety and assistance tools. Nexar is building an AI-based dashcam app, while Pearl is fielding a connected backup camera (with more products in the pipeline). Vehicle-to-vehicle and vehicle-to-X mesh network provider Veniam also closed its $22M Series B in February.

1-auto-tech-financing-q2-2016

Here in the UK you can also get invoved in the Auto tech investment with Cleancar. Clean car is an amazing tool to help individuals and organisations understand if their regular car journey or vehicle fleet transport usage is suitable for electric/hybrid vehicles plus calculates the exact cost savings and environmental benefits of making the switch.

CleanCar is crowdfunding soon – a switched on UK Auto tech startup! For more information on Cleancar crowdfunding please click on the following link to express your interest http://www.cleancar.io/content/

BUYING OR LEASING AN ELECTRIC OR HYBRID VEHICLE WILL BE THE SECOND BEST INVESTMENT YOU’LL EVER MAKE!BUT THE FIRST WILL BE THE DECISION TO INVEST IN CLEANCAR!

Source:https://www.cbinsights.com/blog/auto-tech-funding-h1-2016/

Ecotricity to Charge for The Electric Highway

I had an email this morning from Ecotricity.  It basically outlined, that going forward they will be charging for EV users to access their Electric Highway.  As an EV user you might think i would be upset by this and in some respects it’s a shame, but only so far as its a bit more hassle now that i need to have an app and set up an account and i will need to change the way i drive.  I have used the Electric Highway many times and will use it many times again… Its awesome and thanks to ecotricity for providing it free of charge for so long.

A few things however instantly spring to mind:  Firstly I think this move will in the short term mean they probably won’t need to invest (their reason for doing this) in more charge points at present locations as they won’t be needed.  As a Nissan Leaf driver I often have to wait for 20 minutes or more while all the PHEV drivers charge up their 30-mile range.  In the future this won’t happen and it will only be true electric users that use them so the requirements will fall off quite dramatically.

It does also create an issue however and that in relation to maximising the range and distance.  A leaf for example will charge very quickly up to 80% and then take significantly longer to charge the final 20%.  The way the motorway services are set out and depending upon the state of charge from the outset it is often more efficient to have a quick boost of energy over say ten minutes and then stop further along the motorway for you lunch (some services are better than other). Also on a long trip, two quick 15 minutes’ charges is often much more efficient (and gives significantly more range) than one 30-minute charge.  As I will be paying per charge, this ability to benefit from the 80% quick charging effect will now not be viable and it will mean I have to sit around for much longer to get a full charge each time.

Also on their FAQ they say it will be £5 for a 20-minute fast charge, a full charge takes longer but it does not say if it will cost more.

It’s a bit more hassle and there are still some unanswered questions.  They do say you can still get it for free if sign up as an ecotricity customer.  Plenty to think about…

My final point 4 days notice is shocking.  What if i was on holiday now had issues downloading/registering the app and could not get home because i could not charge my car.  A bit more notice would have been preferable.

Read the letter below from Ecotricity.

Dear Alex Baker

I’m writing to you as a member of the Electric Highway to let you know of a significant change to our service.

After five years of providing charging for free, we’re moving to a ‘charging for charging’ model.

When we began in July 2011, there was a bit of a chicken and egg situation – people were reluctant to buy electric cars because there were no charging facilities being built, but nobody wanted to build those facilities while there were still so few cars on the road. That’s when we jumped in to help kick-start the electric car revolution in Britain.

And that’s going pretty well: today there are over 40 models to choose from and 64,000 plug-ins on the road. The Electric Highway itself comprises almost 300 electricity pumps – of the fast charging variety.

The combination of more cars on the road and faster charging means we’re now delivering two million miles of clean driving each month – all powered from the wind and sun. That’s a great result. It’s also a growing cost. And to keep pace with demand, we need to build more electricity pumps – at existing and new locations.

So the time has come for us to charge – for charging.

We’ve taken a lot of feedback from EV drivers in order to arrive at the right pricing model.  We’ve decided that a simple flat fee of a fiver for a 20-minute fast charge strikes the right balance.

Here’s how it will all work and when it will all happen

First, we’ve created an Electric Highway app. You’ll need this app to use our pumps once we’ve changed over to the ‘charging for charging’ model.

The app will have other features that you’ll find useful. It will show you a live feed of our entire network so you can see the location and availability of your nearest pump, making it easier for you to plan your journeys. You’ll be able to track the progress of your charge with the app’s charging countdown, and there’ll be other features coming in the future.

The transition to ‘charging for charging’ will require a hardware upgrade of each pump. We’ll start that work on Monday 11 July and we’re aiming to have the entire network finished by Friday 5 August.

During this transition period, you’ll need the app for some pumps and your swipe card for others. The app itself will tell you which pumps have switched over to the new charging model.

Once the work is complete, our entire network will only be usable through the Electric Highway app.

We’ve updated the FAQs on the Ecotricity website to provide more information, should you need it.

I hope this is all clear and that you’ll understand our need to finally move to ‘charging for charging’ – it’s the next vital step in the evolution of the Electric Highway and it will allow us to continue to reinvest in improving and expanding the network.

Viva the EV revolution 🙂

Thanks for being with us

Dale Vince

Paris drives old cars off the streets in push to improve air quality

Paris drives old cars off the streets in push to improve air quality

Paris drives old cars off the streets in push to improve air quality

Vehicles made before January 1997 banned from streets of French capital from 8am to 8pm, Monday to Friday.

Paris has banned old cars from its streets in a war on air pollution that environmentalists hope will also drive dirty vehicles from the centres of other European cities.

Air pollution, in large part caused by fine particulate fuel emissions, kills 48,000 people each year in France, about 400,000 in Europe and around 3.7 million worldwide, data published by France’s public health agency this month showed.

Paris has banned old cars from its streets in a war on air pollution that environmentalists hope will also drive dirty vehicles from the centres of other European cities.

Air pollution, in large part caused by fine particulate fuel emissions, kills 48,000 people each year in France, about 400,000 in Europe and around 3.7 million worldwide, data published by France’s public health agency this month showed.

From Friday, any car registered before 1 January 1997 will be banned from the city’s streets from Monday to Friday, 8am to 8pm.

Some owners protested by parking their vehicles near the National Assembly and Champs Elysees avenue to denounce a ban they said would hurt poor people most and slash the resale value of their vehicles.

“I drive 50km per week, I don’t have the means to change vans so I will continue using it, I’ll get fined every week and there you go,” said Marc Martin, who uses his ageing Peugeot van to deliver picture frames to clients.

“And if it goes too far, I’ll close my business, people will lose their jobs, that’s it. What can I say, not much. This law is pathetic.”

Paris mayor Anne Hidalgo said the ban could be extended in 2020 to all combustion-engine cars more than nine years old.

After an initial tolerance period, motorists who flout the ban face fines of €35 (£32), an amount that is set to increase from the end of the year.

Upwards of half a million owners in and around Paris will be hit by the ban, according to a driver defence group, 40 million d’Automobilistes, which is taking legal action to seek financial compensation for drops in the value of now-banned vehicles.

Norway is planning to ban petrol and diesel-fuelled cars from 2025 and several cities in Europe are testing various anti-pollution or anti-congestion measures based on tolls for city centre access or temporary and selective car bans during surges in pollution levels.

Source: https://www.theguardian.com/world/2016/jul/02/paris-drives-old-cars-off-the-streets-in-push-to-improve-air-quality

Photo Source: http://www.csmonitor.com/Business/In-Gear/2016/0604/Going-green-Paris-bans-older-cars.-Unfair-to-the-poor

Local business set to boost global electric vehicle sales!

Local business set to boost global electric vehicle sales!

Another important voting result took place on June 23rd when CleanCar won joint winner Award in the Startup pitch competition, Pitchfest during the West Midlands ‘Venturefest’ Investment event at the NEC, Birmingham. Over 1000 investors based in the West Midlands attended the Ventuerefest event last week at the NEC, Birmingham on the 23rd of June where over 70 innovative West Midlands based Startup’s pitched to a leading panel of Judges that included Justin Urquhart Stewart from Seven Investment Management and a regular financial media pundit on TV, radio and in the Press. The Dragon’s Den style presentations were time limited and the presenters were put through their paces by the experienced judging panel. CleanCar won its heat outright and went on to be named as the top 3 entrants together with Interpac and Fixers. Alex Baker CEO at CleanCar said “this year so far has been amazing as we have won two awards; this and the best newcomer at the Fleet Finance Awards in April in London plus we are in the finals of the European wide grant funding programme, Horizon 2020. This all bodes well for our crowd funding, which begins in early July where we are raising £300k to help us expand internationally”. CleanCar is a UK developed tech solution that accurately informs motorists and fleet operators, based on their own ‘real world’ driving data, if going electric or hybrid is suitable for their transport needs and is a sound financial decision, or not! The CleanCar platform and its dashboard reporting provides recommendations and suitability ratings for the most appropriate vehicle type that matches the ‘fit for purpose’ transport profile. CleanCar delivers a complete Total Cost of Ownership analysis to properly and accurately inform the investment for the consumer as well as Fleet operators who buy over 2m new vehicles every year in the UK.  ‘Real world’ drive data is measured by a self-fit GPS device that uses the 12v power socket, (previously know as a cigarette lighter!), and a regular driving profile is then collected and analyzed. Reports are securely accessed on CleanCar’s platform by the driver or Fleet management where C02 emission reductions are also calculated based on mileage totals.  Backgrounder Recent surveys by DECC showed that 69% of new car purchasers last year did not even consider the electric or hybrid vehicle option due to lack of accurate advice and comparative data to make what is, for most folks, the second biggest financial decision after buying a Home.  CO2 emissions reduction CleanCar predicts its solution will result in over 10m tonnes of CO2 emission reductions globally over next 4 years by informing Car Fleets on the switch to electric and hybrid usage.