engineered for high-mileage fleets,
Optimized for TCO fleets
10X more affordable
Big Data & AI: data, charging & availability
Safe: low voltage
Modular: scalable & stackable
Easy to relocate: flexible
Affordable: engineered for cost efficiency
Automatic transcription via Otter.ai
Hello everyone, I’m Tin, founder and CEO of Open Motors, a company backed by Y combinator based in Silicon Valley in China waiting for the slides.
Meanwhile, even if I don’t look like actually I’m Italian. I was born and raised in Italy in a city called Turin the you know, during anyone it’s pretty famous for football.
Actually, Cristiano Ronaldo is playing my team.
And also famous for chocolate like Nutella Ferrero Rocher. And also for cars. Actually, we’ve been working on different projects, different cars like Lamborghini, Maserati, Ferrari for swag and stuff. Yeah.
So we know actually, just a few cities in the world have the expertise to engineer and tire vehicles, massive manufactured in millions and make it make them available globally. So curing is one of these cities is like the Detroit of Italy. And before I did a speech, have you seen my speech before at the main stage? Anyone? just a few. cool. I’m going to do a very quick recap.
So this speech will be more focus on our energy solution. Before we were talking about also the car, so I will show you a short video. So yeah, previously, we talked about the rise of electric mobility as compared to the IC internal combustion engine. So thanks to players like Tesla, actually, we are giving credit to them because they did an amazing job. And according to Bloomberg, actually, electric vehicles are going to be not just a trend, but they are going to be dominant in 2014 there will surpass combustion engines now, and in the end, this will be the percentage of the total impact, the number of vehicles electric versus combustion.
So we definitely need to find better solutions, in terms of vehicles, and also for the energy and the energy, this is the main problem right now. so this is a comparison between electric vehicles, so batteries, okay. And combustion engines. The problem very clearly is the weight. the storage weight, we have 62 kilograms versus 420 kilograms. That’s huge. Right. Do you agree? Okay. And the energy density, the energy density is very different. Okay. So, we think that fast charging, normal charging is not very the right solution. Okay. And instead, we decided to create something from scratch. a complete vehicle and a revolutionary swapping station. So the vehicle is engineered, basically like an airplane, like Airbus is doing. So if you think about fleets of, of airplanes, actually the last 20 years easily flying, no stops, you can replace parts, you can refurbish them, we are applying the same principles to our city car is extremely modular, and upgradeable. Just like an airplane, you can replace the entire cockpit technology, turbines everything. Then we have the swapping technology. And I will show you that as actually this is not big news because there are other companies that are doing it. And the revolutionary part actually is the cost. Everything that we are doing is cost-optimized. So for who wasn’t in my previous speech, and there’s a video of our vehicle:
introducing the future of the automotive industry, a ready to use road legal vehicle designed and engineered in Europe. Featuring a platform that is entirely modular, allowing vehicles to adapt to any situation, any location, any need. A truly adaptable vehicle, designed and engineered for services. The modular platform allows for truly future proof vehicles ready to easily replace air, refurbish, and upgrade any part necessary. With the flexibility to choose even up to level five complete autonomous driving a fleet of self-driving truly white-label vehicles can operate up to 24 hours every day, allowing for maximum efficiency. And because the entire platform is built on a modular architecture, fleets of vehicles can last 10 times longer, customizable, modular, and upgradeable, designed to last designed to evolve
Did you like the video? Thank you.
So actually talking about Italy, the designer was working for Ferrari. And here’s the second video actually, is something that we never showed before. It’s a sneak preview. still underdevelopment of the swapping station. Pretty basic. So the interesting thing is that we are trying to use as much as possible existing parts. there are already massive manufacture, instead of creating super custom fancy, good design case for the technique for the swapping station. We’re using a simple standard container half container, because it’s very durable, and cheap. Yeah. And because our customers are not going to be like Final consumers, we are, we are focusing on customers like taxi companies. And Uber, TNC Grab, logistic companies, so they don’t care about things, the things they care about numbers. So in the end, all these players that I just mentioned, they care about one thing is called to total cost of ownership, it means that you buy the vehicle, and you have to consider also the maintenance, the battery costs, the consumption, the energy costs, the depreciation, and as well as things like insurance and everything, taxes, everything. So we develop a solution, a one integrated solution that optimizes everything that is physically possible. And the TCO has several problems.
So first is that car manufacturers they are, they are making cars for private users. And private users, they have the range anxiety, so they need to put a big battery. And it’s about actually more than 400 kilograms. And when you add so much weight, you also need to have oversized parts like suspension system, a stronger chest, in this leads to more weight, more consumption, you need to produce more energy, so you have more pollution. And the shorter lifespan and then in the end is more expensive. And Uber drivers around the globe are protesting because they don’t gain enough money. Also, riders are not very happy because the cost is rising. So everything is related to range anxiety.
The same thing with the charging, so right now, you need special infrastructure, especially for fast charging. And fast charging means that you have to put a very high voltage into a battery at the fastest speed as possible. And this is literally destroying the life of batteries. Actually two to three times less life span. And so basically, you charge fast, and you kill your morning expensive component in the vehicle. And then the second thing is that there are so many new technologies right now in the car sensors, sliders, even at the “drive by wire” layer, and batteries. So it’s like for Grab, or Uber, they buy 1 million cars, they want to have a better technology, they need to change the entire fleet, let’s say 1 million cars, they need to change it after two or three years. Because actual cars, they are like an iPhone, with four wheels. If you want a better camera, you have to change the device. Same thing with cars. So we solve all these problems with our integrated solution, a vehicle and a battery swapping. And in terms of numbers, this is the most important thing. The TCO of our vehicle, actually two times less any private cars as well as the energy costs. And I will explain you later why the battery degradation is three times less. So basically, we can extend the life of the battery three times the station costs This is the revolutionary part is actually compared to our competitors 10 times less. And the cost of deployment. Imagine as warping station versus a normal charging, there is no comparison, we keep the vehicle in the space only for three minutes. Normal charging, you need to keep the vehicle there for 10 hours or more fast charging still pretty slow 60 minutes. In fact, our speed comparing to the fast charging is less than 60 minutes versus less than three minutes. We are even faster than gas stations. Let’s why energy companies are pretty interested in our solution. So we have several problems. Let’s see if we have time a little bit.
So consumption, consumption is related to the weight. This is a famous Chinese company called BYD. And this vehicle is currently used by most of the taxi companies there, the e6, look at the weight 2400 kilograms, our objective is to be health. Because we have the weight, you basically have less than half the consumption is the basic math. So we are detaching the battery to achieve this. Here’s also very interesting in terms of financials. Ok. So the consumption of the vehicle 26 kilowatt-hour, versus an existing car like the BMW three, which is pretty good. But we can do better. Actually, basically, in 2018, grab did almost 1 billion kilometers. And if you optimize the cost, you can save a lot of money. 90 million. So, the battery, that’s the huge problem, the problem of fast charging, actually, I invite you to take a photo of this source, it’s a very interesting reading explains technically about why fast charging is killing the battery. And to make it very simple, this is the first charging you can achieve 1500 cycles. When you charge with the right temperature and speed, you can achieve about 4000 cycles. Yeah, by detaching the battery from the vehicle, we can charge it at the right speed and the right temperature. So when people are sleeping, we are charging batteries. And then we are putting back this energy to the during the day without affecting the current great. It’s a huge impact.
And another huge problem actually is the battery warranty. So all our competitors, they have a standard warranty of this is actually for private cars, 100,000 miles and eight years. Usually they are pretty much in this within this ranges. The problem is that all these players that you can see here, they do 100,000 miles in a year. So basically in one year, you you finish the warranty. So big problem, you have seven years difference.
And this is the part the details that we are for the first time showcasing publicly. So NIO, which is the Tesla of China, and also Tesla actually, they have a cost of a single swapping station excluding battery of more than 1 million US dollar
Aulton, which is a new company from Shanghai, China, they achieve a very great result: 370 that’s the cost.
But we did something better, actually seven times better. We can deploy our swapping station for X0,000 US dollar because we’re using as much as possible existing parts we have experienced in different industries. So also buses, train cars motorcycle, we are combining all this technology to lower the price now.
And the interesting thing is that all the Bill of Material the bomb is already defined and also the suppliers and with a $X million investment This is Beijing without on which is the right now the best in the class, you can have only 13 stations with our with the same budget with investment we can feel the entire city of Beijing.
So before we were as I was telling you, we were focusing on super beautiful fancy cars like Lamborghini, Maseratis, but now this is an old market, the real opportunity is mobility as a service. So we started to develop core technologies to help companies to develop custom solutions, then we did YC we found that the fastest-growing market is mass mobility as a service. So we collect a lot of data from all the major players and we came up with the first solution “EDIT” the vehicle, and then we realized they need millions of these cars. So we need to find a very smart solution to solve the problem of the deployment of the infrastructure grid. So we develop the swapping battery and yeah, so right now we are raising money to put in production this Yeah.
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