BMW i Ventures Invest in DeepDrive's Transformative EV Motor

BMW i Ventures, the venture capital arm of BMW Group, has just made headlines with its participation in a significant US$33.5m (€30m) Series B funding round for DeepDrive, a Munich-based electric motor company.

The move signals BMW's continued commitment to advancing EV technology and sustainable mobility solutions. The investment highlights not only BMW's dedication to the future of electric mobility but also the potential of DeepDrive's transformative electric motor technology.

DeepDrive's ground-breaking innovation

Its dual-rotor electric motor technology is at the heart of the buzz and is poised to transform the EV industry.

It is not just another motor innovation – it's a leap forward in efficiency, cost-effectiveness and sustainability. With its patented radial flux dual-rotor design, DeepDrive has developed a motor that delivers impressive advantages over traditional electric motors:

• Efficiency boost: DeepDrive's motor can achieve a 20% increase in efficiency, which is a game-changer for EV performance and energy consumption.
• Cost savings: By deploying this motor at scale, automakers could potentially save over US$1.1bn (€1bn), reducing the production costs of EVs significantly.
• Extended range: The innovative motor could enable EVs to travel more than 800 km on a single charge, addressing a major consumer concern regarding range anxiety.
• Versatility: Its motor is flexible enough to be used as both a central drive and in-wheel drive, making it adaptable for various vehicle designs.
• Environmental impact: The design uses fewer natural resources, reducing the overall environmental footprint of EV manufacturing.

Felix Pörnbacher, Co-Founder and Co-CEO of DeepDrive emphasised the collaborative nature of their work, stating: "DeepDrive's mission is to revolutionise the automotive industry by providing ground-breaking solutions that help automakers meet their efficiency and cost goals." 

The funding round marks a pivotal moment in their journey toward bringing this transformative technology to the global stage.

Strategic investment and industry implications

The Series B funding round was led by Leitmotif, a venture capital firm focused on decarbonisation, with BMW i Ventures and other existing investors like Co-pace (Continental's corporate venture unit), UVC Partners and Bayern Kapital also contributing.

For BMW i Ventures, it is not their first investment in DeepDrive – they co-led a US$16.7m (€15m) Series A round earlier this year, showcasing a deep-rooted belief in DeepDrive's potential.

Marcus Behrendt, Managing Director at BMW i Ventures, pointed out that DeepDrive's innovative technology could "set new standards for e-mobility" and pave the way for the next generation of electric vehicles.

The investment aligns perfectly with BMW's broader strategy to support startups focusing on sustainability and efficiency in the automotive sector.

Tackling the challenges of EV adoption

DeepDrive's dual-rotor motor technology addresses some of the biggest challenges in the automotive industry as it transitions to e-mobility. By reducing the price gap between internal combustion engine vehicles and EVs, DeepDrive's motor could make electric cars more accessible to consumers, accelerating the mass adoption of EVs.

Additionally, the motor's improved efficiency and extended range make it a prime candidate to help EVs reach their full potential in performance and sustainability.

The environmental benefits of DeepDrive's motor are just as impressive, offering a reduction in CO2 emissions during production and operation. Fewer natural resources are needed to build the motor and its efficiency helps to minimise the energy required during use.

Looking to the future

With this fresh funding, DeepDrive is gearing up to convert high-volume projects from its customer pipeline, including eight of the world's ten largest automakers.

Their goal? To build in-house production lines capable of industrialising their dual-rotor motor technology, making it available globally. By 2026, DeepDrive aims to have its motors powering a new wave of EVs, helping to shape the future of e-mobility.

As Felix Pörnbacher confidently stated, their technology will "revolutionise vehicle electrification" – and with the backing of BMW i Ventures and other significant investors, DeepDrive is on the fast track to making that vision a reality.

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