Although Tesla, Inc. (NASDAQ:TSLA) is the first brand most people think of when it comes to EVs, there are many players out there determined to revolutionize the field. The real EV game will start with electric trucks as a series of debuts are expected within the next 24 months. Besides Lordstown Motors Corp., Rivian, Neuron EV, Atlis Motor Vehicles, Bolliger Motors, there is also Hercules Electric Vehicles and its Alpha truck.
When Hercules was founded in December 2018, James Breyer's goal was to deliver fun electric vehicles to this pioneering market.
Since working with Ford Motor Company's (NYSE:F) Research Lab, vehicle electrification and lifestyle vehicle programs defined Breyer's professional journey. Breyer also led the development of General Motors Company (NYSE:GM) Volt powertrain. He combined his forces in advanced engineering and commercialization of new technologies with co-founders Julie Tolley and Greg Weber.
Trolley's extensive background has shaped her focus is on Hercules's corporate strategy. The technological part is covered by Greg Weber with tremendous engineering and deep technical leadership experience gained from a lifelong career at Fiat Chrysler Automobiles (NYSE:FCAU). Greg's expertise also contains the electric dimension as he was the director of developments in EV battery systems at LG Chem. He also delivered active suspension systems with Tenneco (NYSE:TEN) before this hero was born. With his 22 patents, Hercules already has a great start but this portfolio is bound to increase significantly with time.
The main attribute of EVs is the battery, of course. Hercules has already secured an agreement for a revolutionary technology that will be introduced to its product line by 2025. By being more energy dense, it is up to three times more effective than existing batteries. This attribute will be reflected in lower weight and cost. The impact of this achievement is enormous considering the hefty price tag of batteries is one of the main barriers to a wider EV adoption.
The company took the personalized wardrobe concept and adjusted to its vehicles. To truly provide unique customer experience, Hercules will have 25 Experience centers, with experienced stylists to advise its buyers.
Besides these centers across the US, customers will also be able to conduct their purchase digitally so the company is also poised to benefit from online retail. But, these centers will truly enable the company to deliver tailored vehicles based on the customer's preferences, taste and lifestyle.
The first vehicle is planned to debut in mid-2022.
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