According to Electrive, the company, supported by BMW's i Ventures, plans to use the received investment to "convert high-volume projects in our strong customer pipeline of 8 of the world’s top 10 automakers." The company plans to mass produce its proprietary Dual Rotor drive to accelerate the mass adoption of EVs, while also stating that its electric motors can improve range by up to 20%.

BMW, Continental and UVC Partners are among the investors who supported the 30 million euros funding round. BMW also recently started testing DeepDrive's powertrains for electric vehicles, planning to use the company's components in future EVs.

Felix Pörnbacher, co-founder and co-CEO of DeepDrive GmbH, said that "our mission is to revolutionize the automotive industry by providing manufacturers with pioneering solutions for the efficient and cost-effective production of electric vehicles."

Marcus Behrendt, Managing Partner of BMW i Ventures, added that "DeepDrive’s patented e-motor architecture sets completely new standards in e-mobility. We want to continue to support DeepDrive with collaborative approaches and close links between research and industry to optimize e-mobility and drive it forward through innovation."

Photo source: DeepDrive