Four EV companies that didn’t make the cut
Starting an auto company is hard, even if you have billions of dollars. However, the popularizationof electric vehicles and the runaway success of Tesla made many believe they too have a chance. And while some did, others didn’t. Here’s are a few companies that planned to take on the auto industry, only to be swallowed by an extremely competitive environment.
Faraday Future
The rise and fall of Faraday Future were as interesting as it was spectacular. Founded by the Chinese billionaire Jia Yueting in 2014, the company s early days were filled with bold claims such as their intention to reformat the auto industry and bizarre promises such as their car s creating a third internet living space , whatever that means. The company showed off its impressive 1,050Hp FF91 EV concept in 2017 and planned to open a $1 billion factory in Nevada. However, it was also around that time things begun to go horribly wrong for them. The company s bi
Hughes Tool Company Receives Patent for Revolutionary Invention That Eliminates EV Battery Limitations
SAN DIEGO February 4, 2021; Hughes Tool Company Inc. today announced that Anthony Macaluso, Founder, Chairman and CEO, has been awarded patent number 10,787,089, “Methods and Apparatus for Powering a Vehicle” from the US Patent and Trademark Office (USPTO).
This granted Patent and the twenty Independent Claims, with an additional thirty-seven patents pending both domestically and internationally, creates a very powerful Intellectual Patent Portfolio.
With this patent, the Hughes Power Generation Platform eliminates all of the range and recharging concerns that have slowed consumer adoption. Furthermore, it solves problems for commercial vehicles, especially for long haul trucking (“The EV Semi”) and fleets. The more you drive, the more useable and storable energy you create.
Space! It holds the promise of riches beyond our wildest dreams â solar systems bursting with precious resources ripe for the taking. Just the idea of such prizes has set off a frenzied rush by global business entrepreneurs to claim stakes in this new frontier.
The private sector has increasingly pushed aside governments and their contractors in a frenzied bid to develop commercial space exploration, at the same time using all their cost-cutting prowess to reduce the cost of putting people and objects into orbit. And that is only the first step.
This year, for example, there are three separate missions to Mars, which are scheduled to arrive this month. The Emirates Mars Mission is due to arrive next week, on Feb. 9. Its task is to study weather cycles and the Mars atmosphere overall.
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American EV maker Fisker completed its reverse merger with Spartan Energy Acquisition Corp. on 29th of October last year. Regardless of its name, Spartan Energy had no link with the energy sector. Instead, it was a special purpose acquisition entity that got listed with the sole purpose of merging with a private company.
Phoenix-headquartered Nikola Corp. went public in June 2020, through its merger with a blank-check company called VectoIQ Acquisition Corporation. Now, Nikola is trading on the NASDAQ without offering an IPO.
QuantumScape went public by merging with Kensington Capital Acquisition, a blank-check company that was listed on the New York Stock Exchange (NYSE) with the sole purpose of merging with a private, unlisted entity.