Batteries, the artificial intelligence card according to Electra Vehicles
They still cost too much and are holding back the market. Fabrizio Martini, CEO and co-founder of the Turin-based start-up, explains the role of software and AI
4' min read
4' min read
Batteries are the heart of the electric car, as well as a cost item of between 30 and 40 per cent. The technological evolution of components, capacity, autonomy, recharging speed, durability and life cycle will be one of the decisive factors for an effective conquest of the mass market by lithium-ion vehicles. Artificial intelligence (AI) plays a leading role in this process. Electra Vehicles, an Italian start-up born in 2015 in Boston, Massachusetts, from a project by Nasa, also has an office at the Ogr in Turin (Officine grandi Riparazioni, an innovation hub also dedicated to accelerating start-ups), and has developed advanced battery control software. Software based on artificial intelligence.
"We define ourselves somewhat as the brain behind batteries. Our innovative AI-driven solutions (including the proprietary EVE-Ai algorithm, ed), combined with strategic partnerships, are paving the way for more efficient, sustainable and affordable electric vehicles. What's more, by focusing on advanced controls, data analytics and innovative battery pack design, we are not only driving positive change within the energy industry, but also contributing to a cleaner, more sustainable future for all,' explains CEO Fabrizio Martini, who co-founded Electra Vehicles and has seen it grow into a global player, to Il Sole 24 Ore.
Its customers are 60% in the US, 30% in Italy, and 10% in India and South Korea. Currently, the company, whose investors include Liftt, a venture capital firm focused on deep-tech, which holds a stake in the portfolio, is in the research phase for a $30 million round, planned for late 2024 to early 2025. In February 2023 Electra had raised $21 million in a round in which Stellantis Ventures participated.
According to Guido Panizza, Head of Project Management at Liftt, 'electric mobility is an established and growing reality. The correct management of battery packs, both in use and at the end of their life, is becoming increasingly strategic for the success of this technology. Electra Vehicles, thanks to its unique and proprietary physical models, represents the most valid solution for increasing the autonomy and service life of battery packs as well as for the correct assessment of their state of health. And thus the prevention of malfunctions'.
Martini, software and AI how and what change?


