Conifer, a startup founded by former engineers from Lucid Motors and Apple's electric car project, has raised $20 million in seed funding to develop a novel electric hub motor. The company's design utilizes abundant ferrite magnets, eliminating rare earth elements, which reduces costs and supply chain risks. Conifer's motors promise higher efficiency and are half the size of current options, targeting small mobility applications. With interest from various sectors, including lawnmowers, Conifer plans to ship production motors later this year. The startup aims to localize its supply chain and automate manufacturing processes.