Jim put himself through college working on British sports cars before designing his first three-wheeler in the 1980's as an alternative to U.S. dependence on foreign oil. Later he designed vehicles that would provide drivers with simpler and environmental friendly transportation. The EV series does all of those things and more.
We are commercializing our vehicle now. This is not an advertisement to sell stocks but anyone interested in being part of our company should contact us now. The business plan and financial spreadsheets can be viewed here:
The EV110 electric vehicle is a two seater three-wheel commuter meant for local driving but it can easily reach highway and Interstate road speeds. It is named EV110 because the vehicle can be charged on a 110 volt outlet. The three-wheel configuration may seem unique to some but the basic design is over a century old and today it is enjoying market acceptance thanks to several current vehicles like the Polaris Slingshot and Can-Am motorcycles.
The car is designed to be manufactured with low start-up costs and for simple assembly. The design makes use of as many off-the-shelf parts as possible. The vehicle will use interchangeable snap-on plastic body parts that means there will be no paint booths for body parts in production or rust problems on the vehicle when it is in use. The power train is composed of a standard off-the-shelf electric motor and battery controller that has been used in conversion kits for years and are known for their reliability and performance. The specific lithium batteries we intend to use are reported to have a life expectancy of 2,000 charging cycles. Under normal use they should last 20 years. While the power pack can be charged at a 110 volt outlet with the on-board charger it will accept a 220 volt "fast charge" at public charging stations when needed. The cost of charging the batteries is estimated to be a less than $200.00 dollars per year.
A primary buying profile are those interested in the environment and solving pollution problems like global warming. “Electric" is a buzz word today and owning an electric vehicle conveys a support for renewable energy and moving away from the traditional internal combustion engine. The second group will be attracted to the vehicle because of its simplicity. The EV110 has few moving parts so buyer will not face all the ICE complexities and all the associated problems with everything from tune-ups, coolant issues, exhaust issues, transmission problems and also gone would be all the pollution controls and hoses. This group is equal to the first group in size and they may have some overlap. The third group of buyers are concerned with the fuel costs. Last, are those buyers who want a vehicle that is something different than the conventional offering, something unique.
There is not a production three-wheel electric vehicle in the auto market today. The Elio three-wheeler has gained notoriety in auto magazines and on auto related online sites and would attract some of the same audience. The Elio is gas driven and it has one person sitting behind the other like a motorcycle. One aspect that made the Elio popular is the advertised low price of $6,800.00. Some people question whether Elio would be able to produce the vehicle for $6,800. As of this writing they have gone up in price to $7,200.00, but it is still no production.
While the Elio had enjoyed a lot of automotive press and enthusiast discussion the more threatening development may be from Storm Sonders. He set a record on crowd funding by raising ten million dollars to sell an electric bicycle. He has now completed a crowdfunding campaign for a three-wheel electric vehicle that he says will sell for under $10,000. His mantra of "by all of us all working together we can have a $10,00.00 vehicle" sounds a lot like a "change you can believe in" campaign. He has a base of supporters from the e-bike and then there is the claim to make an EV for $10,000.00 that has many people excited. He developed a prototype, but is was sent back to the builders with problems.
The Solo EV is an effort based in Vancouver, Canada. It is a single-seater EV that they say will get 80 miles per charge and do highway speeds. They have a nice website and take deposits but they too have yet to start production. They are currently running another round of fund raising.
We expect to raise the funding by offering ten million shares of stock at two dollars per share.
The original plan was to have the vehicle developed, produced, and marketed in-house in America, possibly in Georgia. Another scenario is to develop the vehicle in-house in conjunction with auto design and production consultants and subcontract the production through others in the U.S. or abroad in China. That would create a two-tier funding requirement, one for the design and production developments and one for the initial production run. Initial development costs could range from $50,000.00 to $250,000.00. The initial production run could cost one and a half million dollars per 100 vehicles produced. Subsequent vehicles production runs would presumably run less. Depending on the vehicle finish the vehicles would sell for $19,000.00 per unit.
The initial sales for the vehicle will be through a company website. Prospective buyers can look at the vehicle online and place an order or use the phone number to reach a live person. We will promote the EV110 online through press releases and through advertising. We will attend auto shows, too. We will also have an arrangement with several financial institutions to help buyers with financing.
At the modest production rate of 5,000 units annually the gross margin would be thirty-three million dollars on a ten million dollar outlay.
Sincerely, Jim Davis
Tri-Max Electric Vehicles