Business
The Company has developed and manufacturers all-electric motorcycles and motor-scooters in Ann Arbor, MI. We shipped our 1st customer bike in January and have orders for 9 more.
-2009 – Product Rollout / Introduction – Sell bikes directly to consumers across the U.S. targeting innovators and techies who read scooter and EV blogs. 10 customer deposits on bikes in 2009.
-2010 – Market Seeding – Develop 4-6 of the leading regional markets with high scooter sales where consumers are more “green focused” (e.g. Austin, Boulder, San Francisco) and establish relationships with dealers in those markets, targeting early adopter “greenies”, people who are passionate about reducing their carbon footprint. Goal is to sell 100 to 150 bikes.
-2011 – Broad U.S. Distribution – Pursue dealer partnerships across the U.S. and into Canada. Goal is to sell 550 bikes, through 44 dealers.
-2012+ - Continue domestic growth (1500 bikes & 100 dealers) and add International Markets.
Having established a beachhead in the U.S. consumer market CMC plans to pursue the following Future Markets:
-Fleet Sales
-International
-U.S. Motorcycles
A-Round
-Amount - $2M
-Uses - Market Expansion, Management, IP protection & Inventory
Our target customers are urban commuters who want to do their part for the environment. Some of these “environmentally conscious” individuals (a.k.a. “greenies”) have switched to gas motor-scooters for transportation. This environmental action along with volatile fuel prices helped fuel a 40% increase in scooter sales in the US over the past 4 years, leading to a total of 220,000 units sold in 2008 making this an $880M market.
To preserve capital, initial sales will be directly sales via the Internet and through the Company’s dealership in Ann Arbor, MI. Dealer sales will be via traditional scooter dealers and also the burgeoning “electric vehicle” network of retail stores that are providing green transportation. To leverage the green channel, we are also looking at co-marketing with LOHAS (Lifestyle of Health & Sustainability) retailers – such as Whole Foods.
While our long-term goal is to grow the dealership channel, we recognize the need to “kick start” our sales via the Internet.
Current Motor Company (CMC or the Company) was founded to fill the unmet need for practical, affordable, zero-emissions electric vehicles (EVs).
Current Motor Company has brought EVs to market that; use no gas, produce no emissions and provide no worries. Through education and community building our goal is to become the predominant brand associated with electric motor-scooters. CMC’s financial strategy is to develop a very low overhead structure. If the Company holds overhead at 2010 levels, the Company’s breakeven point is about 400 bikes / year. Revenue projections are driven by the ability of CMC to create a strong dealer network.
CMC produces electric motorcycles and motor-scooters; the C1x and C2x (see below). Our bikes are designed mostly with commercially-available-off-the-shelf components. The value proposition to our customers follows:
-Practical - with enough range and speed to be used on any roads and requiring significantly less maintenance than a gas equivalent.
-Affordable – they have a low purchase price and a very low Total Cost of Ownership due to minimal maintenance requirements and low fuel price (approx. 1 cent per mile).
-Zero-Emission – vehicles that use no oil and are all-electric.
Note: Our bikes are fully DOT/NHTSA & EPA compliant and certified; CMC issues its own US VINs.
Technology
Two-wheeled electric vehicles compete along two dimensions: cost and performance. The C1x enters the market in the sweet spot of best in class performance and features at an affordable price.
CMC’s intellectual property resides in the vehicles’ Battery Management System and Bike Control Unit, with patents in process covering:
-Battery Management System – increased battery life and reduced charge time.
-High Power Hub Motor – increased power for larger vehicles traveling at higher speeds.
-Control Systems – more efficient designs for motor controllers.
Team
| Name | Title |
|---|---|
| peter_1 | President |
| Erik Kauppi | Other |
| John Harding | VP |
| Shannon Wentworth | VP |
| Steve Calef | CFO |
Financials
Marketing, Management, IP protection & Inventory
