INEVIT
Improved EV range & cost via optimized vehicle and battery module design, innovative module components, & manufacturing techniques.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$33.0m Valuation: $33.0m | Acquisition | ||
| Total Funding | 000k | ||
Founded in 2016 by original Tesla co-founder Martin Eberhard and Heiner Fees, InEVit emerged as a specialized developer of critical technologies for the electric vehicle sector. Eberhard, who had previously been ousted from Tesla in 2008, brought a wealth of experience from subsequent roles at Volkswagen's US electric vehicle development and Lucid Motors (then Atieva), shaping InEVit's strategic direction.
The company focused on creating rechargeable battery modules and power systems for electric vehicles. Its core offerings included energy-dense, standardized 'slide-in' battery systems designed for cost-effective mass production. Beyond batteries, InEVit also developed and patented a proprietary EV chassis architecture and innovative manufacturing techniques, positioning itself as a key technology provider for automotive original equipment manufacturers (OEMs). The business model was centered on enabling vehicle manufacturers to lower costs and accelerate their production ramps through these advanced, manufacturable designs.
InEVit's trajectory was swift, marked by its participation in the Plug and Play Tech Center accelerator program in early 2017. This culminated in its acquisition by SF Motors (now SERES) on October 19, 2017, for a reported $33 million. The acquisition strategy involved integrating InEVit as a wholly-owned subsidiary, with the goal of leveraging its innovations for SF Motors' own products while also licensing the technology to other OEMs to advance the broader adoption of zero-emission vehicles. Following the deal, Eberhard transitioned into the roles of Chief Innovation Officer and Vice Chairman of the Board at SF Motors.
Keywords: electric vehicle batteries, EV powertrain, battery module design, EV chassis architecture, Martin Eberhard, Heiner Fees, SF Motors acquisition, SERES, Plug and Play Tech Center, automotive technology, battery systems, clean-tech, EV manufacturing, slide-in battery, energy density, OEM supplier, automotive licensing, e-powertrain systems, zero-emission vehicles