<ul><li>Conifer, a startup founded by engineers from Lucid Motors and Apple's electric car project, has closed a $20 million seed round for their electric hub motor.</li><li>The company's motor uses more abundant ferrite magnets instead of rare earth elements, reducing costs and supply chain risk.</li><li>Conifer's proprietary stator offers higher efficiency and power while being half the size of comparable options.</li><li>The drop-in electric hub motor targets the small mobility space, allowing customers to replace existing hub motors without major design changes.</li></ul>

Conifer locks down $20M seed round for its ‘drop-in’ electric hub motor

Discover more