GM is using the ASX-listed company’s lightweight wheels on its first electrified Corvette, but there are wobbles in a race for funding.
The Corvette E-Ray in New York. The vehicle is a hybrid model that uses Carbon Revolution’s lightweight wheels.
An electric motor powers the front wheels of the Corvette E-Ray, while a conventional V8 engine provides the power for the back wheels. The E-Ray isn’t a plug-in hybrid, but gathers energy during the braking process via a “regenerative” braking system, and during normal driving. The E-Ray has a 1.9kWh lithium-ion battery pack in a section located between the seats.
But investors were alarmed at the time of the announcement because Carbon Revolution said it still needed $30 million in funding as a bridge before the deal finalised in the June quarter of 2023.
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