What’s New in the Race to Power Our Cars with Electricity

The Taiwanese multinational electronics manufacturer, Foxconn, maker of Apple phone chips, has an EV on the way, designed in downtown LA. Their electric vehicle is in partnership with U.S. startup INDI EV, which has now merged with Malacca Straights Acquisition, a blank check company formed for the purpose of effecting a merger, acquisition, or reorganization, with one or more businesses.

The electric vehicle, INDI ONE, somewhat oddly named, as if to evoke mental reference to an Indianapolis Formula One internal combustion race car, is envisioned to be a customizable vehicle. Following a now well-established retail sales model, the firm opened their first retail outlet for vehicle ordering in LA, in boutique style in Beverly Hills, where customers can customize their INDI ONE EVs.

Foxconn’s participation in Mobility In Harmony, an open EV ecosystem that promotes collaboration in the mobility industry, helped lead to the INDI ONE EV, an electric vehicle that will begin to be manufactured next year at a six million square foot factory in Lordstown, Ohio.

Now for something completely different from your parent’s automobile. INDI ONE EV customers will be able to utilize their Vehicle Integrated Computer, or VIC, as a node for a blockchain. “This means that with every unit sold there is potentially one more node on the chain,” the company noted. “With our large volume delivery timed for 2023, we expect our blockchain to surge in nodes in short time.

The impact of this will be that every vehicle purchased can option to participate in the blockchain ecosystem. Every vehicle could potentially earn revenue from passive participation as a node in the blockchain.

This will enable every user, driver and owner to benefit from all transactions occurring on the blockchain.”
The company’s notion of vehicles as moving and mostly stationary computer processors for hire, may seem far-fetched. Yet VICs will be great computers that, even without being dually utilized as nodes for blockchain computing, are now, and will continue to be, connected with arrays of vehicle sensors that will serve, if enabled by EV drivers/owners, as part of an ecosystem of vehicle-to-vehicle V2V communication that advocates say will move us into an era of fewer accidents from vehicle/human interactions.

Keep an eye on this space to see further info about the INDI ONE EV’s progress to market and market entry. FYI, the new firm’s NASDAQ symbol is $INDI.


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