Businesses and governments are scrambling to get the infrastructure set up for electric vehicles.
A Tel Aviv-based company, Electreon Wireless, has been working with Ford (NYSE: F) and DTE Energy (NYSE: DTE) to bring its wireless charging technology to Detroit roads in the next year. Electreon Wireless has worked with Sweden, Israel, and Italy to implement its charging infrastructure into roadways.
This electrified road in Detroit will stretch a mile long. It will be located near Detroit’s Michigan Central Station — an abandoned train station that Ford has begun converting into its “mobility innovation district.” Ford isn’t the only investor in this project; the state of Michigan plans to contribute $1.9 million to Electreon’s project.
The project is expected to be totally functional by 2023.
The mile-long strip of the road will be able to charge electric vehicles when in motion or at a stop via a process called inductive charging. Inductive charging uses magnetic frequency to transfer power from metal coils that will be buried under the road to a special receiver on the underside of the EVs.
There’s one catch. Axios estimates that installing this special receiver will cost people about $3,000–$4,000 per car, while Electreon hopes for a smaller price tag — closer to $1,000–$1,500.
For states like Michigan and automakers like Ford, this adoption of technology and the thought process that’s going into building up the EV infrastructure is intended to encourage consumers. To let these consumers understand that there are real efforts that are going into growing the infrastructure for electric vehicles so that mass EV adoption will be justified.
While all of this is well and good. There might be something else that’s going to give people a more optimistic view about EVs.
Do you really see electric highways being built throughout the country in the next decade? Do you see the average consumer being OK with spending an extra $3,000–$4,000 per car to have their vehicle charged on these highways?
Yeah, it’s a cool idea, but not the most practical one. Maybe it’s something that can be improved on throughout the next decades, but it won’t be a reality in the near future. I don’t see it being the answer to some of today’s biggest issues raised about EVs and the mass adoption of EVs.
There has to be a far better option or alternative that would convince the public that owning an electric vehicle is practical. Something that would alleviate everyday Americans’ anxiety about how buying an EV would be a waste of money or cost them more money.
First, we need to improve the batteries and make sure that the technology involved is the best that it can be. That’s exactly what I want to bring to your attention.
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After getting your report, you’ll begin receiving the e-Letter, delivered to your inbox daily.
Redefining the Battery Market…
An alternative that has nothing to do with lithium, nickel, cobalt, or copper. It’s a material that’s essentially brand-new comparedwitho those ancient elements. I’m talking about graphene.
Graphene has the potential to enrich many industries but if we’re staying on today’s topic, it’s going to play an important role in creating the next generation of rechargeable batteries. Batteries that could be used in your electric vehicle.
Graphene has the ability to give batteries a longer range, faster charge times, and longer service life. Graphene could bring on major improvements to the battery market that could redefine the current battery designs.
Of course, this comes at the most opportune time. We know that the demand for electric vehicles is rising, which means the need for batteries is skyrocketing too. People want to buy electric vehicles.
Global sales for electric vehicles jumped by 45% to more than 3 million in 2020. It’s estimated that by the end of the decade, 23.5 million EVs will be sold each year. And those vehicles will need reliable batteries.
That’s where one company comes in…
It’s a small clean-tech company that’s developed and proved its production process to manufacture graphene.
The little-known company has discovered a way to mass-produce graphene in a pure form, something that has been considered nearly impossible to do. This company’s method is viewed as being superior to other methods. It uses a patented production process that’s unlike any other.
Its chief scientific officer has been researching graphene for energy storage and biomedical applications for over two decades. Its CEO has over two decades of experience in the energy sector working for Shell.
The company and technology are astounding. Having such strong forces and a patented production process puts this company in a strong position to prosper from the growing demand for batteries that are built to have a longer range, faster charge times, and longer service life.
Its work on batteries is just the tip of the iceberg. As I mentioned earlier, this technology has the potential to enrich many industries. That’s why I want to share with you a presentation that should answer all your questions about this technology and the company involved.
Until next time,
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.