DeepDrive develops a patented Dual Rotor electric motor architecture that it says delivers about a 20% efficiency increase and significant cost reductions versus benchmarks. The motors are designed to enable automakers to produce high-volume EVs with more than 800 km of range and can halve the price gap between ICE vehicles and EVs for consumers. DeepDrive projects that deploying its motors at scale could save automakers more than €1 billion in costs and cut up to five tonnes of lifetime CO2 emissions per vehicle, scaling to multiple gigatonnes across the fleet. The company reports a strong customer pipeline with co-development projects involving 8 of the world’s 10 largest automakers. With the new funding DeepDrive will build in-house production lines and industrialise its technology, and is readying the launch of its first series of large-scale electric motor projects from 2028. Financially, DeepDrive has raised €49.35 million in capital since its founding and completed a €30 million Series B in the current round. Munich-based DeepDrive develops a dual-rotor, radial-flux electric motor and integrated power electronics that can be used as a central drive or a wheel-hub drive. The company says its machine delivers the automotive industry’s highest torque and power density while producing low noise emissions and minimal torque ripple. DeepDrive also claims its motors require far fewer rare-earth materials than typical designs. According to the company, the technology can extend vehicle range by about 20% and allow roughly 20% smaller batteries versus today’s status quo. DeepDrive already works with eight of the top 10 automakers and plans to use new funding to kick industrial production into high gear and support a sustained recruitment drive to meet demand. The company says it is on track to roll out its offer en masse by 2026.

Total raised

$49M

Funding rounds

2

Latest round

Series B

Latest activity

Sep 2024