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Spurred on by looming bans on combustion engines in China and
Europe, major automakers are striving to bring their commercial
electric vehicles (EV) to market fast and ensure they don't get
caught out again by another Tesla.
To survive in a world where the likes of General Motors, Ford,
Renault or Stellantis can make hundreds of thousands of vans a
year, superior software or technology could make all the
difference for newer entrants.
"The startups all bring something to the party," says
Jean-Michel Renaudie, senior vice president for industrial and
commercial transportation at auto supplier TE Connectivity. "The
question is, what's your unique selling point?"
For British EV startup Bedeo, the answer changed last year due
to an unexpected turn of events.
When property developer China Evergrande Group ran into debt
trouble, its National Electric Vehicle Sweden (NEVS) subsidiary
put in-wheel electric motor startup Protean Electric on the
block - and Bedeo bought it.
Up until then, Bedeo had been turning vans such as Peugeot's
Boxer and Opel's Movano into EVs for Stellantis by adding
electric motors, batteries and operating system at a factory in
Turkey. It was also selling its own electric vans to customers
such as FedEx's TNT and Deutsche Post's DHL.
Now, Bedeo and Protean plan to develop new EV platforms for
commercial vehicles and passenger cars using in-wheel motors,
Bedeo Chief Executive Osman Boyner told Reuters.
In-wheel motors - stand-alone electric motors that can be housed
in all or some the wheels of an EV - don't need axles and
powertrains so they free up more space inside vans and trucks,
as well as extend battery range by reducing vehicle weights.
At Protean's headquarters in Farnham outside London, Chief
Executive Andrew Whitehead shows off a production-ready sports
car developed under NEVS with in-wheel motors that has a range
of 1,000 km (620 miles), far greater than EVs available now.
"Every vehicle some day will have in-wheel motors because it's a
no-brainer," Boyner said. "We already have this technology on
the road and now we just have to market it."
'GORILLA IN THE MARKETPLACE'
The stakes are high. About 9 million delivery vans are sold
worldwide each year and with global distribution and retail
companies under increasing pressure to go green, bumper
commercial EV orders are set to come thick and fast.
Boyner said Bedeo was talking to major vehicle manufacturers
about building commercial EV platforms for them under contract,
but also to its own investors about whether to go it alone, with
a decision expected by the end of June.
"Should we invest half a billion and compete with the
manufacturers, or should we just provide components?" he said.
"These manufacturers are so big, they're like governments."
Major automakers such as GM and Ford are a massive challenge for
startups because they can leverage their large factories, global
sales, service and distribution networks, and long-standing
customer relationships.
"Knowing how to do supply chain at scale is a huge, huge
advantage," said Travis Katz, chief executive of BrightDrop,
GM's commercial EV business, which has announced major orders
from FedEx and Walmart for its mass-produced EV600 van.
Ford is a leading brand in the United States and European van
markets and Sam Fiorani, vice president of global vehicle
forecasting at AutoForecast Solutions, said its Transit van is
"the gorilla in the marketplace".
"They're ready to cater to any commercial buyer," Fiorani said.
"That's a lot to overcome."
U.S. startup Rivian Automotive, which makes electric pickups,
SUVs and commercial vans, has been touted as the next Tesla and
its valuation leapt 53% to surge past $100 billion the day it
listed shares in November.
Rivian has landed a 100,000 van order from Amazon but its shares
took a hit after the online retailer said last month it was
teaming up with Stellantis in a host of areas, from software to
cloud computing - to electric vans.
Ross Rachey, Amazon's director of global fleet and products,
said the company partners with established players such as
Stellantis and Rivian because there "isn't a one-size-fits-all
approach, there's room for many players".
KNOW-HOW AND NETWORK
Some investors, however, say startups are a riskier bet because
they might fail.
"What happens if five years from now these startups just
disappear?" said Scott Schermerhorn, managing director at
Mariner Wealth Advisors, which owns GM shares.
FedEx was burned last year when EV startup Chanje, which had
promised it 1,000 vans, subsequently went out of business.
The package delivery company has ordered thousands of electric
vans from GM's BrightDrop because it had the "know-how, the
scale, the easy access to capital" and network to support big
fleets, Richard Smith, FedEx's head of the Americas, said.
But he said FedEx remained open to startups with "innovation and
new technologies".
Ed Sun, managing director and portfolio manager at investor
Engine No. 1 in San Francisco, said startups may lack size, but
can survive because they often have better software, range,
vehicle technology, or a niche.
"The new players are clearly going to take share," said Sun,
whose firm owns GM and Ford shares.
For British electric van startup Arrival, low-cost innovation is
the way forward.
It plans to develop "microfactories" and use a low-cost,
lightweight plastic composite for van bodies. Backed by its own
fleet management software, its executives say it's a better van
than a diesel equivalent for the same price.
Swedish startup Volta Trucks has a head start over traditional
truck makers as its 16-tonne electric truck goes into production
this year. It has a low, central seat and wrap-around
windshield, putting drivers at eye level with pedestrians to
improve road safety in busy cities.
'FUTURE PROOF'
British electric truck maker Tevva, meanwhile, is going for the
niche.
It buys "gliders" - the truck frame and cab - from an
established automaker to benefit from their networks. Then it
adds its own electric motors, battery packs, software and in
some cases hydrogen fuel cells, effectively turning those models
into clean fuel double acts with a greater potential range.
"We don't need to invest hundreds of millions on parts someone
else already does well," Chief Executive Asher Bennett told
Reuters.
Tevva, which has been testing trucks with UPS, will launch
production this year of two versions of a 7.5-tonne (7,500 kg)
vehicle at its plant in Tilbury, England.
One will be an electric model with a range of 160 miles but the
other will have a reserve hydrogen fuel cell, boosting its range
to 310 miles. Tevva plans to roll out 12-tonne and 19-tonne
models with hydrogen boosters.
Tevva has short-listed sites a U.S. factory and one in mainland
Europe, each able to produce some 3,000 trucks a year.
Many in the trucking industry believe hydrogen cells, which only
emit water, are the future because they are lighter than
batteries, though the fuelling infrastructure is in its infancy.
Bennett said the combination of hydrogen technology, low-cost
manufacturing and cloud-based software to optimise vehicle range
will "future proof our company".
U.S. delivery giant UPS, meanwhile, said working with startups
such as Arrival has allowed it to shape the type of EVs that
will join its global fleet of 130,000 vehicles.
UPS worked with Arrival on designing a chassis, powertrain and
van bodies and has now ordered up to 10,000 vans.
"We saw that as a solution we can scale up to support our global
operations," said Luke Wake, UPS vice president of maintenance
and engineering.
(Reporting by Nick Carey in Farnham and Tilbury, England, and
Ben Klayman in Detroit; Editing by David Clarke)
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