Uber is betting millions on a startup hoping to solve the biggest roadblock facing electric vehicles

Quick Summary:

The startup on Tuesday received a $6.5 million round of funding led by Uber and Failup Ventures to scale its charging system.

While the Biden administration estimates a need for 1 million public chargers, itselectric’s founders suggest the true number could be higher—as many as 4 million.

Putting 100 miles on a Tesla Model Y would cost, on average, just $3.80 for someone charging overnight at home, but anywhere between $10 to $19 for the same person using a high-speed public charger, according to Car and Driver.

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Article Details

Author / Journalist: Irina Ivanova

Category: EconomyBusiness

Markets: United StatesCanada

Topics: Uber Electrical grid Detroit Electric vehicles Los Angeles Charging Stations Electricity Boston

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 11:00:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 975 words

Reading Time: 6 minutes read

Sentences: 28 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 21651530

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 37 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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Publisher ID: #95

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