#6 Future Mobility News & Views

Welcome to the sixth edition of Future Mobility News & Views, a bi-weekly newsletter where I pick out some of the latest news stories and developments that have caught my attention from across the EV and Future Mobility sector.

With summer holidays, EV-enabled family camping trips, business travel and some matters which meant I needed to take a short break to put family first, the ink has been dry here for a little while. Nonetheless, I return to bring you an overdue roundup of the latest insights from the UK & European landscape.

This week, we celebrated World EV Day? . Now into its fifth year, we saw strong support from businesses around the globe helping drive such positive eMobility engagement, initiatives and commitments focused on driving further adoption of electric vehicles, whilst helping counter the negativity and FUD we are often subjected to from mainstream media. I remember when this campaign first launched as I pledged my commitment to switch from ICE to EV. Now on my second EV, it's great to see so many individuals and businesses embrace the now, internationally recognised campaign. Hats off to Ade Thomas , Founder of Green.TV Media and creator of World EV Day.

Last week, my colleague Wolfgang Kick and I were over in Berlin, attending intercharge network conference hosted by Hubject . My second year running, yet again, the conference did not disappoint. Despite the political and economical challenges impacting the market at the moment, I came away with a greater sense of optimism for what's to come. There will be some winners and of course, there will be many losers as the market matures (and consolidates) over the next few years but one thing I know for certain, the future is undoubtedly electric. Reflecting on the event, it was so refreshing to see the unwavering commitment from industry innovators and experts, each pushing to do better when it comes to improving the overall reliability and user experience of EV charging infrastructure not least, the work being done to continue driving mass adoption of EV's throughout Europe. More on my post-show wrap up here:

Hot on the heels of Berlin, we've been busy supporting a number of key search mandates for our clients. I've just closed out a critical Investment Manager role we were retained for by one of Europe's leading energy and technology VC's as well as securing new Non-Executive Chair assignment with an SME EV CPO here in the UK:

To add, we've recently been appointed to support the search for a Global Product Management Leader for one of Europe's fastest growing EV charging networks. As always, if you or anyone you know would like to arrange an initial discovery call (in confidence), please reach out directly via [email protected]

Industry News

OEM's and EV's ???

The European Union is reportedly considering further reductions in special tariffs on Chinese-made electric vehicles - This move could provide a significant boost to manufacturers like Tesla, SAIC, and other Chinese challenger OEM's making their EVs more competitive in the EU market. The proposed adjustments would lower import duties, potentially leading to increased sales of Chinese electric cars. Let's hope this long-standing trade dispute sorts itself out soon. My Brother has just ordered a BYD, an industry colleague and a neighbour too. We all know China will continue to lead the way so let's hope Europe either embraces or pulls its head out of it's exhaust pipe and competes. More on this here: https://www.reuters.com/markets/europe/eu-lower-proposed-tariffs-tesla-other-evs-china-bloomberg-news-reports-2024-09-10/

Volvo's strategic EV shift - Volvo Cars has revised its electrification plans, aiming for 90-100% electric sales by 2030 instead of a complete transition. Whilst some may see this as a setback, the company maintains its commitment to rapid electrification and despite the negative take on this across mainstream media, this strategic shift could simply be attributed to market dynamics or a focus on maximizing value creation which is understandable. No need to panic. This take from cleantechnica sums things up perfectly: https://cleantechnica.com/2024/09/09/is-volvos-ev-plan-change-ev-pessimism-or-tech-adoption-realism/

BYD acquires German Distributor to strengthen European presence - Chinese EV giant BYD has announced plans to acquire Hedin Electric Mobility, its German distributor. This strategic move aims to enhance BYD's control over sales operations and solidify its position in the competitive German EV market. Despite challenges in the broader European market, BYD's integrated approach and strong partnerships position it for long-term success. BYD are making serious moves and I am seeing more and more on public roads. Looking forward to driving my elder Brother's once he takes delivery in a few weeks. https://www.fleeteurope.com/en/manufacturers/asia-pacific/features/byd-strengthens-footprint-germany-acquisition-hedin-emobility

Battery Manufacturing & Recycling??

Northvolt cuts jobs and refocuses strategy - Swedish battery manufacturer Northvolt is implementing cost-cutting measures, including job cuts and divesting non-core business units. The company is facing challenges with production efficiency and declining EV demand. Whilst core cell production will continue, plans for additional factories and battery storage systems may be delayed or worse, cancelled. This reflects the challenges faced by even the biggest, most funded and most advanced battery manufacturers in Europe. Hopefully some better news on the horizon soon. Read more here: https://sifted.eu/articles/northvolt-jobs-cut-sell-sites

Adionics revolutionises Battery Recycling with new Lithium extraction technology - Adionics, a pioneer in sustainable lithium extraction, has announced a breakthrough in its DLE technology. The new Flionex? system enables the efficient recovery of high-purity lithium from battery black mass, offering a sustainable solution to the growing challenge of electric vehicle battery recycling. More here: https://www.businesswire.com/news/home/20240909323315/en/

Hydrogen ??

BMW and Toyota join forces for Hydrogen Fuel Cell Vehicles - Automotive giants BMW and Toyota have announced a partnership to develop new hydrogen fuel cell technologies. This collaboration will lead to the launch of series production fuel cell vehicles by both companies in the coming years, expanding the options for zero-emission mobility. I have my opinions on this so the less said the better ?? though you can read more here (if you wish): https://www.current-news.co.uk/bmw-toyota-hydrogen-fuel-cell-development/

EV Charging Infrastructure ???

Europe well on it's way to one million public charge points ??- Europe has crossed a milestone with over 900,000 public charging points now connected to the grid. The Netherlands leads the way with most chargers, followed by Germany and France, whilst UK and Belgium rank fourth and fifth. Despite this rapid growth, believe it or not, this still falls short of the ambitious EU targets. Nonetheless, as the graph below shows, this is promising progress in just a few years and there's lots more to come. More here: https://www.electrive.com/2024/08/29/europe-passes-the-900000-charge-point-mark/

Meanwhile, looking overseas, in just 73 days, China has installed more public chargers than the US has installed, EVER...??

Fleet Electrification ?????

Buckingham Palace to go electric ?? ?- King Charles explores installing EV chargers to support the Royal Household's transition to electric vehicles as Buckingham Palace aims to electrify its entire fleet and add up to 27 EV charge points. If successful, other Royal Households may also receive their own charging infrastructure. I'm not a royalist, nor am I a fan of the monarchy. Nonetheless, it is great to see the royal household embracing EV's which will no doubt help with further promotion and uptake in the UK and worldwide. More on this here: https://metro.co.uk/2024/08/17/king-charles-makes-major-move-royal-familys-fleet-vehicles-21422348/

REA report reveals significant savings potential for electrified commercial fleets - A new whitepaper from the REA (Electrifying the Fleet: A Practical Resource for Fleet Managers) highlights the substantial financial benefits of electrifying commercial fleets. Findings suggest Fleet managers can expect to save up to ￡3,500 annually per heavy-duty electric vehicle, thanks to reduced fuel costs and increased efficiency. The report also provides practical guidance on making the transition to electric vehicles. Great work once again from Matt Adams and the team over at REA. More on this here: https://www.current-news.co.uk/rea-commercial-vehicle-fleet-managers-to-save-up-to-3500-annually-through-electrification/

Renewable Energy Transition ????

The UK closes the door on coal - The final coal-fired power station, Ratcliffe-on-Soar, will close its doors on September 30th. This historic closure marks the end of coal-fired power generation in Britain. Plans are underway to transform the site into a zero-carbon energy hub, aligning with Government plans for a pivotal shift towards a more sustainable and resilient energy future. In the 'Insights' section of this newsletter, I share some thoughts on how distributed energy resources and electric vehicles will step in to replace coal-fired power generation as we transition from concrete smokestacks to a network of connected, virtual power plants. Exciting times ahead. More on this here: https://www.energylivenews.com/2024/09/04/britains-last-coal-power-station-to-close-in-three-weeks/

Deals

Whilst investments over the last few months have stalled somewhat, August and September (so far) have delivered some encouraging signs that things are looking up on the investment front. Let's take a look...

Porsche invests in struggling German Battery maker Varta - Luxury carmaker Porsche has stepped in to support Varta, a German battery manufacturer facing financial difficulties. Porsche will take a majority stake in Varta's battery production division, V4Drive, and inject €60 million into the company. This investment aims to secure Varta's future and provide Porsche with access to high-performance batteries for its hybrid and electric vehicles. You heard about Northvolt earlier so this is welcome news. Read more here: https://www.euronews.com/business/2024/08/19/porsche-moves-in-with-deal-to-help-stalling-german-battery-maker-varta

Sunswap secures €20 Million to accelerate Zero-Emission cold chain logistics - UK-based cleantech start-up Sunswap has raised €20 million to expand its deployment of zero-emission transport refrigeration technology across Europe. This funding will support the growth of Sunswap's innovative solar and battery-powered refrigeration units, helping to decarbonise the logistics industry. Great news! https://www.eu-startups.com/2024/08/london-based-sunswap-secures-over-e20-million-aiming-to-decarbonise-cold-chain-logistics/

Clearly raises $4.3 Million to decarbonise trucking - Start-up company Clearly, has secured $4.3 million to expand its AI-driven platform aimed at helping fleet operators reduce carbon emissions. The platform provides actionable insights to optimise driving behaviour and improve fuel efficiency. With a growing focus on sustainability, Clearly's solution offers a valuable tool for businesses looking to decarbonise their transportation operations. Congrats to Founder, Danielle Walsh and team. More here: https://techcrunch.com/2024/08/13/she-grew-up-a-gearhead-now-her-startup-has-raised-4m-to-cut-co2-from-trucking/

Qwello secures €65 Million financing to expand EV charging network - Pan-European charge point operator Qwello has closed a significant financing deal to support its growth and expansion. The new funding will enable the business to increase its network of charging points across Europe, building on its recent acquisition of Park & Charge. This investment demonstrates the strong market potential for EV charging infrastructure and Qwello's position as a fast emerging player in the industry. Great news! https://evfleetworld.co.uk/qwello-closes-55m-debt-financing-to-support-charge-point-growth/

SET Ventures closes €200 Million fund to boost Climate Tech adoption - Amsterdam-based venture capital firm SET Ventures has announced a new €200 million fund aimed at supporting start-ups developing digital solutions to facilitate the adoption of renewable energy. The fund will invest in 20-25 Series A companies across Europe, focusing on areas like decentralization, automation, and cybersecurity to ensure a seamless transition to a carbon-free energy system. Huge congrats to Anton and the team! https://techcrunch.com/2024/09/04/dutch-clean-energy-investor-set-ventures-lands-new-e200-million-fund-which-will-go-toward-digital-tech/

AENU closes €170 Million fund to support Climate Tech Start-ups - Berlin-based venture capital firm AENU has successfully raised €170 million for its new fund, which will invest in early-stage climate tech start-ups across Europe. The fund will focus on companies developing digital solutions to facilitate the adoption of renewable energy. AENU has a strong track record of supporting innovative climate tech companies including eMobility platform Monta, and is committed to driving positive environmental impact. Read more here: https://sifted.eu/articles/aenu-170m-climate-tech-vc-news

Insights

Check out the latest insights from myself and colleagues on a variety of topics across the sector and be sure to visit our website for more thought-leaderships across several industry and executive search related topics - https://insights.hyperionsearch.co.uk/

The Virtual Grid transition.?September marks a historic moment for the UK, and I'm not just referring to my 35th birthday (it's on 19th in case you were wondering). It marks the month we say goodbye to our last coal-fired power station. This closure is more than just a...?Read more.?

Britain’s unusual stance on Chinese electric vehicles.?There is no point closing the gate, when the horse has already bolted! ?That seems to be an understanding the British have, that the US in particular, and some European states, France for example, don't choose to grasp, where EVs and...?Read more.?

Reliability and Profitability in EV Charging.?Since 2016, I've been at the forefront of the eMobility revolution, witnessing first-hand the industry's remarkable transformation from a land-grabbing, hardware-centric approach to one that pays much more focus and attention on user experience,...?Read more.?

The challenge of mass scaling in the battery sector...even for Northvolt! This news of Northvolt winding down it's lithium-metal R&D subsidiary, Cuberg, in California and shifting R&D to Sweden, is a real blow blow to the almost 200 employees working there, just 3 years after it's acquisition.? The company...?Read more

Out of a job but not ready for the golf course: how about joining a board? The article focuses more on corporate executives, but I am frequently approached by executives from the start-up/scale-up world who are looking at Portfolio careers. Firstly for the sector, keeping the huge volume of knowledge and skills, as well...?Read more

Headhunting Insights

This week I take a look at the Do's and Don'ts for effective talent attraction.

Don't: Overlook your interview process

Having worked with a real mix of clients from pre and post investment start-ups, high growth scale-ups and established, international corporates, I've seen the impact a well-structured interview process can have on a company's ability to attract top talent. A disorganised, unclear process can send a clear message: your company is not worth their time.

Take your time to invest in a streamlined and well thought out interview process before you kick off a search and go to market. By doing so, it demonstrates that you value your employees and are committed to finding the right fit. Not only will it improve your chances of hiring the best people, but it will also enhance your company's reputation as an employer of choice. Don't drag interviews out for the sake of it and be sure to include only the most relevant stakeholders or colleagues who will have a dotted line into your new potential hire. An interview process doesn't need to have multiple stages and drag on for weeks on end. You can easily implement a two-stage process whilst ensuring proper due diligence is carried out by both yourself and your potential next hire. I've seen the absolute best and the worst this week and I've provided some critical feedback (and praise) to my clients to help them set the right impression from the get-go. If you're a young founder scaling your business and this is alien to you, please lean on us and we can help.

Do: Provide timely, honest and constructive feedback

On the subject of a well-thought out interview process. Don't go and ruin it by neglecting feedback. Feedback is critically important not just for the candidate but for the reputation of your business and myself if I am representing you. Timely feedback is more than just a courtesy; it's a crucial component of a successful hiring process. Delaying feedback for weeks sends a message of disinterest and disrespect, damaging both the candidate's confidence in themselves, their impression of you and ultimately your reputation.

In a niche industry, where talent is often scarce, a reputation for poor communication can be particularly harmful. Candidates are more likely to seek out companies that value their time and provide transparent communication throughout the hiring process.

By providing timely feedback, you not only demonstrate professionalism and respect but also increase your chances of attracting top talent. Even if a candidate is unsuccessful, try your best to provide constructive feedback. A positive candidate experience can lead to referrals, brand loyalty, and ultimately, a stronger company culture. This week, I've heard stories of senior executives being ghosted by companies having gone through multiple rounds of interviews and assessments. I've also shared some constructive feedback to a client who failed to deliver any feedback whatsoever. Delivering bad news is not nice but unsuccessful candidates will respect you more if you are open and honest with them. Don't ghost, do better.

So that brings a close on this edition. As always, if you have made it this far - thank you for reading. Time is precious and I appreciate you spending some of it with me and this newsletter. If you enjoyed reading, I would kindly ask you to share with your network, encourage others to subscribe and drop me a message with any thoughts or opinions of your own relating to the topics discussed.

As is always the case, the next few weeks will be busy for me and the team. My colleague Wolfgang Kick will be attending and speaking at Solar & Storage Live in Zurich 17-18/9 whilst some of us will be heading to Solar & Storage Live UK at the NEC on 24-26/9. Our CEO will be attending Cleantech for Europe Summit in Brussels on 26/9 and I'll be heading to Fleet & Mobility Live on 8/10. If you will be attending any of these events, please let me know and we can arrange to meet. In the meantime, I'm always around for an online coffee if you value a conversation ???? https://calendly.com/stephen-robinson-hyperionsearch/30-minute-meeting

All the best,

Steve