💨 Abstract

A new startup, Conifer, has developed an electric hub motor that is free of rare earth elements, using more abundant ferrite magnets. The motor is half the size and offers higher efficiency and power than comparable options. Conifer has attracted $20 million in funding and plans to ship production motors later this year. The company aims to localize its supply chain and highly automate manufacturing lines to reduce costs and risks.

Courtesy: techcrunch.com

Summarized by Einstein Beta 🤖