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Arbe Announces Q2 2024 Financial Results

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TEL AVIV, Israel, Aug. 6, 2024 /PRNewswire/ — Arbe Robotics Ltd. (Nasdaq: ARBE) (TASE: ARBE) (“Arbe”), a global leader in Perception Radar Solutions, today announced financial results for its second quarter, ended June 30, 2024.

 

 

Key Q2 and Recent Company Highlights:

Arbe’s chipset was selected by one of the top ten OEMs worldwide for the development of its next-generation imaging radar aimed at serial production. The selection of Arbe’s technology presents a significant commercial opportunity given its applicability across a wide range of vehicle classes.Arbe collaborates with a prominent European truck manufacturer to revolutionize truck safety with Arbe’s imaging radar. The manufacturer is set to integrate Arbe’s radar into its next-generation sensor suite as part of the transition to an advanced implementation stage.Arbe is actively engaged in achieving four design-ins with leading global automakers. Despite longer decision cycles, Arbe expects those decisions in the coming months.During the second quarter, Arbe participated in the final stages of OEM RFQ processes along with its Tier 1s: Magna, HiRain, Weifu, and Sensrad.The demand for high-channel count solutions is widespread across the board, and Arbe’s solution is recognized by leading OEMs as the radar with the largest channel array at the best price per channel.Arbe began trading on the Tel Aviv Stock Exchange (TASE) and issued convertible debentures totaling approximately $30 million to Israeli investors. This strategic move aims to bolster its cash reserves in anticipation of upcoming OEM selections. The proceeds from the debenture offering are held in escrow and will be released upon meeting certain conditions by March 31, 2025. 

“We are excited to announce that we have reached a significant milestone with two key customers. The selection of our imaging radar by both a leading OEM and a prominent European truck manufacturer validates our technology and highlights its market appeal. We are in the final stages of RFPs and RFQs with our Tier 1s, and we believe that we are on track to secure additional major OEM selections this year,” said Kobi Marenko, Chief Executive Officer. “Arbe is well-positioned to capitalize on the growing demand for advanced radar systems, and we anticipate an increase in sales and market share in the near future.”

Second Quarter 2024 Financial Highlights

Revenues for Q2 2024 were $0.4 million, an increase from $0.3 million in Q2 2023. Backlog as of June 30, 2024, was $0.8 million.

Negative gross margin for Q2 2024 was 9.5%, compared to negative gross margin of 1% in Q2 2023, mainly related to headcount increase.

Operating expenses in Q2 2024 were $11.6 million, compared to $12.6 million in Q2 2023. The decrease in operating expenses was primarily driven by a decrease in R&D materials and to a lesser extent due to a labor cost decrease, partially offset by doubtful debts provision and debt issuance costs. Research and Development decreased, from $9.1 million in Q2 2023 to $7.9 million in Q2 2024, the decrease was mainly related to finalization and maturing stages of production and labor cost savings. Sales and Marketing expenses decreased from $1.5 million in Q2 2023 to $1.4 million in Q2 2024, related to lower travel and conference expenses. General and Administrative expenses increased from $2.0 million in Q2 2023 to $2.3 million in Q2 2024, later include a one-time provision and offering fees.

As a result, our operating loss in Q2 2024 was $11.6 million compared to a $12.6 million loss in Q2 2023.

Net loss in the second quarter of 2024 decreased to $11.8 million, compared to a net loss of $12.6 million in the second quarter of 2023. Net loss in Q2 2024 included $0.1 million of financial expenses, consisting of foreign exchange revaluations offset by interest from deposits.

Adjusted EBITDA, a non-GAAP measurement which excludes expenses for non-cash share-based compensation and for non-recurring items, for Q2 2024, yielded a loss of $7.5 million, compared to a loss of $8.4 million in the second quarter of 2023.

Balance Sheet and Liquidity

As of June 30, 2024, Arbe had $8.8 million in cash and cash equivalents and $17.7 million in short term bank deposits. In June 2024, the Company issued convertible debentures in the principal amount of NIS 110,000,000 (approximately $30 million). The proceeds from the sale of the debentures, which were approximately NIS 112,400,000 (approximately $30.5 million), are held in escrow and will be released to the Company upon meeting certain conditions by March 31, 2025 (these funds are classified as other assets on our balance sheet). The Company has incurred losses from operations since its inception and has negative cash flow from operating activities. Considering management’s plans and the forecasted revenue, we will have sufficient funds to finance our operation needs in the foreseeable future.

Outlook

Our goal of achieving 4 design-ins with automakers remains unchanged, as we observe continued strong interest in our market-leading offering.We have strengthened our position in all our RFQ engagements, even though the OEMs have shifted their decision timelines from late 2023 to 2024.The 2024 annual revenues are expected to be in line with those of 2023, followed by revenue growth in 2025. These revenue projections are based on our expectation that we will be in full production in the second half of 2024, as well as our decision to exclusively focus on getting our chipset into production.We are committed to maintaining a strong and well-managed balance sheet, focusing on cost-effectiveness and the ability to fund our revenue growth. Adjusted EBITDA for 2024 is projected to be in the range of ($30) million to ($36) million.

Conference Call & Webcast Details

Arbe will host a conference call and webcast today at 8:30 am ET. Speakers will include Kobi Marenko, Chief Executive Officer, Co-Founder and Director, and Karine Pinto-Flomenboim, Chief Financial Officer. The Company encourages participants to pre-register for the conference call here. Callers will receive a unique dial-in upon registration, which enables immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

The live call may be accessed via:

U.S. Toll Free: 1-844-481-3015
International: 1-412-317-1880
Israel Toll Free: 1-809-212373

A telephonic replay of the conference call will be available until August 20, 2024, following the end of the conference call. To listen to the replay, please dial:

U.S. Toll Free: 1-877-344-7529 
International: 1-412-317-0088
Access ID: 6889354

A live webcast of the call can be accessed here or from Arbe’s Investor Relations website at https://ir.arberobotics.com/news/ir-calendar. An archived webcast of the conference call will also be made available on the website following the call.

Arbe (Nasdaq: ARBE) (TASE: ARBE), a global leader in Perception Radar Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe’s radar technology is 100 times more detailed than any other radar on the market and is a critical sensor for L2+ and higher autonomy. The company is empowering automakers, Tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm changing perception. Arbe, a leader in the fast-growing automotive radar market, is based in Tel Aviv, Israel, and has offices in China, Germany, and the United States.

Cautionary Note Regarding Forward-Looking Statements

This press release and the earnings call contains or will contain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words “expect,” “believe,” “estimate,” “intend,” “plan,” “anticipate,” “may,” “should,” “strategy,” “future,” “will,” “project,” “potential” and similar expressions indicate forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These risks and uncertainties include, the effect on the Israeli economy generally and on the Company’s business resulting from the terrorism and the hostilities in Israel and with its neighboring countries including the effects of the continuing war with Hamas and any further intensification of hostilities with others, including Iran and Hezbollah, and the effect of the call-up of a significant portion of its working population, including the Company’s employees; the effect of any potential boycott both of Israeli products and business and of stocks in Israeli companies; the effect of any downgrading of the Israeli economy and the effect of changes in the exchange rate between the US dollar and the Israeli shekel; the Company’s ability to meet the conditions to the release from escrow of the proceeds from its recent sale of convertible debentures; the Company’s ability to generate additional OEM selections and substantial orders and the risk and uncertainties described in “Cautionary Note Regarding Forward-Looking Statements,” “Item 3. Key Information – D. Risk Factors” and “Item 5. Operating and Financial Review and Prospects” and in the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2024, as well as other documents filed by the Company with the SEC. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Information contained on, or that can be accessed through, the Company’s website or any other website or any social media is expressly not incorporated by reference into and is not a part of this press release.

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CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

 June 30, 2024 

December 31, 2023

Current Assets:

 (Unaudited) 

 (Unaudited) 

Cash and cash equivalents

8,840

28,587

Restricted cash

280

163

Short term bank deposits

17,683

15,402

Trade receivable 

694

1,258

Other assets

30,545

–

Prepaid expenses and other receivables

1,954

2,026

Total current assets

59,996

47,436

Non-Current Assets

Operating lease right-of-use assets

1,895

1,740

Property and equipment, net

1,434

1,309

Total non-current assets

3,329

3,049

Total assets

63,325

50,485

Current liabilities:

Trade payables

832

1,149

Operating lease liabilities

519

436

Employees and payroll accruals

3,265

2,916

Convertible debentures

29,982

–

Accrued expenses and other payables 

1,097

1,710

Total current liabilities

35,695

6,211

Long term liabilities

Operating lease liabilities

1,512

1,306

Warrant liabilities

607

875

Total long-term liabilities

2,119

2,181

SHAREHOLDERS’ EQUITY:

Ordinary Shares

 *) 

*)

Additional paid-in capital

253,702

245,733

Accumulated Deficit

(228,191)

(203,640)

Total shareholders’ equity

25,511

42,093

Total liabilities and shareholders’ equity

63,325

50,485

*) Represents less than $1.

 

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except share and per share data)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

 (Unaudited) 

(Unaudited)

(Unaudited)

(Unaudited)

Revenues

409

289

546

644

Cost of revenues

448

292

851

608

Gross profit (loss)

(39)

(3)

(305)

36

Operating Expenses:

Research and development, net

7,914

9,091

17,311

17,215

Sales and marketing

1,365

1,478

2,818

2,402

General and administrative

2,296

2,014

3,940

3,644

Total operating expenses

11,575

12,583

24,069

23,261

Operating loss

(11,614)

(12,586)

(24,374)

(23,225)

Financial expenses (income), net

132

25

177

(707)

Net loss

(11,746)

(12,611)

(24,551)

-22,518

Basic net loss per ordinary share 

(0.15)

(0.19)

(0.31)

(0.34)

Weighted-average number of
shares used in computing basic
net loss per ordinary share 

80,578,820

67,762,711

79,377,515

66,225,739

Diluted net loss per ordinary share 

(0.19)

(0.23)

(0.39)

(0.39)

Weighted-average number of
shares used in computing
diluted net loss per ordinary share 

64,204,137

56,450,209

63,390,411

58,419,059

 

 

 

CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

Cash flows from operating activities:

 (Unaudited) 

(Unaudited)

(Unaudited)

(Unaudited)

Net Loss 

(11,746)

(12,611)

(24,551)

(22,518)

Adjustments to reconcile loss to net cash used in operating activities:

Depreciation

147

139

289

276

Stock-based compensation

3,587

3,713

7,313

5,721

Warrants to service providers

286

157

634

254

Revaluation of warrants and accretion

(157)

(369)

(268)

(238)

Convertible debentures accretion

176

–

176

–

Change in operating assets and liabilities:

Decrease in trade receivable 

162

48

564

162

Decrease in prepaid expenses and other receivables 

245

330

72

504

Increase in other assets 

(128)

–

(128)

–

Operating lease ROU assets and liabilities, net

6

(8)

135

–

Decrease in trade payables 

(1,039)

(1,116)

(506)

(284)

Increase (decrease) in employees and payroll accruals

204

43

349

(550)

Decrease in accrued expenses and other payables

(72)

(499)

(766)

(3,706)

Net cash used in operating activities

(8,328)

(10,173)

(16,687)

(20,379)

Cash flows from investing activities:

Change in bank deposits

12,621

(25,602)

(2,281)

(25,202)

Purchase of property and equipment

(126)

(87)

(225)

(119)

Net cash provided by (used in) investing activities

12,494

(25,689)

(2,506)

(25,321)

Cash flows from financing activities:

Proceeds from issuance of ordinary shares, net of issuance costs 

–

22,496

–

22,496

Issuance costs related to convertible debentures

(459)

–

(459)

–

Proceeds from exercise of options

22

46

22

606

Net cash provided by (used in)
financing activities

(437)

22,542

(437)

23,102

Effect of exchange rate fluctuations on cash and cash equivalent

80

(574)

214

(66)

Increase (decrease) in cash, cash equivalents and restricted cash 

3,650

(12,746)

(19,844)

(22,532)

Cash, cash equivalents and restricted cash at the beginning of period

5,391

45,037

28,750

54,315

Cash, cash equivalents and restricted cash at the end of period

9,120

31,717

9,120

31,717

 

 

 

RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET LOSS 

(U.S. dollars in thousands, except share and per share data)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

GAAP net loss attributable to ordinary shareholders

(11,746)

(12,611)

(24,551)

(22,518)

Add:

Stock-based compensation

3,587

3,713

7,313

5,721

Warrants to service providers

286

157

634

254

Revaluation of warrants and accretion

(157)

(369)

(268)

(238)

Convertible debentures accretion

176

–

176

–

Non-recurring expenses related to convertible debentures and ATM

805

214

805

214

Non-GAAP net loss

(7,048)

(8,896)

(15,890)

(16,567)

Basic Non-GAAP net loss per ordinary share 

(0.09)

(0.13)

(0.20)

(0.25)

Weighted-average number of shares used in computing basic
Non-GAAP net loss per ordinary share

80,578,820

67,762,711

79,377,515

66,225,739

Diluted Non-GAAP net loss per ordinary share 

(0.09)

(0.16)

(0.14)

(0.29)

Weighted-average number of shares used in computing diluted
Non-GAAP net loss per ordinary share 

64,204,137

56,450,209

63,390,411

58,419,059

RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA

(U.S. dollars in thousands)

 3 Months Ended 

3 Months Ended

6 Months Ended

6 Months Ended

 June 30, 2024 

 June 30, 2023 

 June 30, 2024 

 June 30, 2023 

GAAP net loss attributable to ordinary shareholders

(11,746)

(12,611)

(24,551)

(22,518)

Add:

Financial expenses (income), net

132

25

177

(707)

Depreciation 

147

139

289

276

Stock-based compensation

3,587

3,713

7,313

5,721

Warrants to service providers

286

157

634

254

Non-recurring expenses related to ATM

68

214

68

214

Adjusted EBITDA 

(7,526)

(8,363)

(16,070)

(16,760)

 

 

 

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SOURCE Arbe

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EngineAI Debuts at CES 2025 with Revolutionary Robotics Lineup

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January 10, 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — On Jan 7-10, Shenzhen EngineAI Robotics, an innovator in humanoid robots, debuted at the prestigious CES 2025, showcasing its humanoid robots: the SE01, SA01, and PM01. These robots offer a versatile foundation for developers to enhance their interaction with the physical environment. The SA01 and PM01, in particular, serve as open-source platforms for further development, providing a basis for advancements in embodied intelligence.

Zhao Tongyang, the founder and CEO of EngineAI, highlighted the company’s vision to develop world-leading general-purpose humanoid robots while continuously accelerating innovation in the embodied intelligence revolution. He emphasized that EngineAI is committed to launching scalable products at competitive prices, aiming to achieve the production and sales of over a thousand units by 2025.

Zhao is a seasoned entrepreneur in the robotics industry, with a track record of pioneering advancements. His extensive experience has equipped him with substantial expertise and resources. In 2016, he founded Dogotix, pioneering humanoid robot research in China. By 2020, he launched a quadruped robot that quickly dominated the global market. After co-founding XPENG Robotics, Zhao formed a new team in early 2023 and created the humanoid robot PX5, which later gained significant attention at NVIDIA’s GTC 2024. Following the success of PX5, Zhao left XPENG Robotics to establish EngineAI, soon securing nearly 100 million yuan (approx. USD 13.64 million) in angel funding and unveiling the next-gen humanoid robot SE01 on October 24, 2024.

The SE01 has garnered significant attention at CES 2025. As EngineAI’s first full-size general-purpose humanoid robot, it marks EngineAI’s commitment to the embodied intelligence sector. Designed for industrial labor scenarios, SE01 features high load capacity and can handle tasks such as heavy lifting and precision assembly in complex factory environments. It incorporates advanced harmonic force control joint modules, deep reinforcement learning, and imitation learning algorithms, along with an end-to-end neural network model. This robot has overcome the challenge of natural gait, eliminated the awkward movements of previous robots, and significantly enhanced work efficiency and precision. Standing at 170cm and weighing 55kg, SE01 can perform human-like actions such as squatting, push-ups, and running, with athletic performance comparable to international athletes.

Another highlight is the SA01, a pioneering robot designed for research and educational settings. It features an open-source platform, offering a highly customizable bipedal robot for research institutions and educational organizations. Weighing approximately 40kg, SA01 can perform actions such as running and jumping. It utilizes a reinforcement learning algorithm architecture and an efficient power module solution, with a walking power consumption of less than 200W. Constructed with high-quality, high-strength aluminum alloy, the SA01 boasts strong system rigidity and impact resistance, making it a durable choice for the research market. Priced at USD 5,400, it offers exceptional value, with orders quickly surpassing expectations. Now EngineAI has established a stable production capacity to meet the increasing market demand.

The PM01, EngineAI’s latest release, is a lightweight, high-dynamic, fully open embodied intelligent robot. Standing at 138cm and weighing around 40kg, it offers both mechanical and humanoid natural gait walking modes. PM01 is the most flexible robot in EngineAI’s lineup so far, with human-like movement and performance rivaling the flagship SE01. It features an interactive core screen for seamless interaction and enhanced dynamic performance with additional degrees of freedom in the neck and waist. The PM01 supports extensive hardware and software capabilities, enabling cross-platform algorithm deployment and validation, making it ideal for diverse research applications. The PM01 is now available in both commercial and educational editions. From now until March 31, 2025, both editions are offered at a price of USD 13,700. During this specific period, customers who purchase the commercial edition will automatically receive an upgrade to the educational edition.

With its debut at CES, EngineAI is poised to continue its innovation-driven approach, refining its product lineup while focusing on embodied intelligence development. The company aims to advance artificial intelligence solutions, linking and building ecosystems to serve and train professional models, ultimately contributing to the emergence of the AGI era.

About EngineAI

Founded in October 2023 and in Shenzhen Bay, EngineAI specializes in general-purpose intelligent robots and industry-specific solutions, including the development and production of humanoid robots and other related products. The team comprises pioneers from China’s first cohort of legged robot research and industrialization, as well as experts from top universities and firms.

EngineAI is committed to full-stack independent development, from core components to embodied intelligence and operational algorithms. EngineAI’s products cater to various scenarios, including scientific research and education, industrial manufacturing, commercial services, and home use. The company is dedicated to advancing the commercialization of humanoid robot technology globally.

For more information, please connect with EngineAI at:
YouTube: https://www.youtube.com/@Engineairobot
LinkedIn: https://www.linkedin.com/company/engineai-robot
Instagram: https://www.instagram.com/engineairobot/
Facebook: https://www.facebook.com/profile.php?id=61562251514664
X: https://x.com/engineairobot
WhatsAPP: 18025463787
Email: support@engineai.com.cn

 

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SOURCE ENGINEAI ROBOTICS TECHNOLOGY

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Crisil unveils a new brand identity

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January 10, 2025

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New logo reflects ability to power mission-critical decisions with confidence

MUMBAI, India, Jan. 10, 2025 /PRNewswire/ — Crisil Limited, a provider of ratings, data, research, analytics and solutions, today unveils its new brand logo.

The new brand identity, ‘Crisil’ (earlier written as CRISIL), reinforces the company’s position as a global, insights-driven analytics firm, building on a distinguished legacy of close to four decades.

Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.

Says Amish Mehta, Managing Director & CEO, Crisil, “Our reimagined brand expresses a more progressive vision of our future. It celebrates a pioneering and illustrious past and showcases our commitment to deliver actionable insights to clients. Our people’s analytical rigour and domain expertise will continue to set standards and empower clients to make mission-critical decisions with confidence. The new brand identity guides us in shaping how we present ourselves to the world, influencing every interaction internally and externally to help us deliver exceptional client value.”

The strategic brand transformation positions Crisil’s businesses — Crisil Ratings, Crisil Intelligence (formerly MI&A), Crisil Coalition Greenwich, and Crisil Integral IQ (formerly GR&RS) — under a cohesive identity that offers a consistent and more connected experience for clients around the world.

Crisil Ratings: Offers independent credit ratings in India that empower informed decisions and objective benchmarking by lenders, investors and issuers.

Crisil Intelligence: Offers insights, consulting, technology-driven risk solutions and advanced data analytics, serving clients across government, private and public enterprises, empowering them to make informed decisions.

Crisil Coalition Greenwich: Offers strategic benchmarking, analytics and insights to the financial services industry and specialises in providing unique, high-value and actionable information to help clients measure and drive their business performance.

Crisil Integral IQ: Offers solutions and actionable intelligence to financial institutions around the globe to deliver strategic transformation, optimise risk and drive operational excellence.

The main logo in bold black is simple yet strong, symbolising excellence and the certainty that we deliver. Complementing this, our business logos now feature a distinct teal colour that conveys the confidence and trust rooted in rigour and domain expertise.

About Crisil Limited

Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence.

Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.

Headquartered in India, Crisil is majority owned by S&P Global.

Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ.

Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured.

For more information, visit www.Crisil.com

Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK

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This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Crisil. However, Crisil alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.

Crisil has taken due care and caution in preparing this press release. Information has been obtained by Crisil from sources which it considers reliable. However, Crisil does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. Crisil especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.

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Jointly Charging the Road Ahead | Huawei Releases Top 10 Trends of Charging Network Industry 2025

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January 10, 2025

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SHENZHEN, China, Jan. 10, 2025 /PRNewswire/ — Huawei released the Top 10 Trends of Charging Network Industry 2025 with the theme of “Jointly Charging the Road Ahead.” Wang Zhiwu, President of Huawei Smart Charging Network Domain, comprehensively interprets the top 10 trends of the charging network industry for 2025 from the perspectives of industry development directions and technology development path.

He states that electric vehicles (EVs) have developed better than expectations again. It is estimated that the number of global EVs will reach 480 million within 10 years globally. We are already in the era of comprehensive electrification. In the future, Huawei will work with partners and customers to accelerate ultra-fast charging coverage in all scenarios. In the tide of vehicle electrification, we are dedicated to achieving the vision of jointly charging the road ahead.

Trend 1: High-Quality Development

High-quality development of charging networks has become an industry trend. The entire industry will undergo profound changes centering on high-quality development. Technologies will be iterated rapidly, and core charger enterprises will encounter a sharp decrease.

Trend 2: Comprehensive Ultra-fast Charging

“Ultra-fast charging” is a buzzword of 2024 for the industry. Multiple cities in China have started to deploy ultra-fast charging facilities, boosting the explosive growth of the number of EV models that support ultra-fast charging. It is estimated that all typical EV models will support ultra-fast charging in all scenarios by 2028.

Trend 3: Optimal Experience

Mature technologies of intelligent head units, intelligent driving, and intelligent chargers promote the charging experience to be digital, intelligent, and automatic, driving the advent of the era of digitalized charging experience.

Trend 4: Electrified Logistics

To achieve the goal of replacing oil with electricity for heavy goods vehicles, charging is the core obstacle. Ultra-fast charging technologies will completely overcome industry hurdles. Ultra-fast charging has advantages such as low construction capital expenditure (CAPEX), high charging compatibility, easy device maintenance, and small station footprint, promoting to achieve electrified logistics for the industry.

Trend 5: Grid Friendliness

In the future, power grid interaction will transit from passive to active response, and from one-way to multiple-way interaction to ensure power grid safety.

Trend 6: Multi-level Power Pooling

With increasing compatible EV models and wider power ranges, commercial EVs will even support megawatt-level charging. Facing ever-changing requirements, the power pooling technology will evolve from split-type charger application to multi-level power pooling, and extend to power grids and EVs. This evolution reduces electricity dependency on power grids, supports evolution with EV models, and meets EV requirements to the maximum extent.

Trend 7: Fully Liquid-Cooled Charging

Charging scenarios are increasingly diverse, especially including more extreme environments. Therefore, the industry is accelerating the deployment of high-power liquid-cooled charging equipment. Liquid-cooled power unit + liquid-cooled charging dispenser will become the best combination.

Trend 8: PV+ESS+Charger Integration

The traditional solution of “stacking PV, ESS, and charging cabinets” will gradually evolve to the solution of “intelligent integration” that will improve the benefits throughout the lifecycle, be friendly to power grids, and ensure safety of the charging station.

Trend 9: Low-Power DC Charging

Campus will be the core scenario for future V2G development. As low-power DC charging is becoming popular, it has more digital functions such as bonus point calculation, centralized deployment, easy management and control, and V2G evolution.

Trend 10: Electrical Safety

As charging scenarios are expanding to densely populated environments, electrical safety requirements will shift from single-point control to unified control for people, EVs, chargers, and ESSs. 

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SOURCE Huawei Digital Power

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