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 seat three-wheel commuter meant for local driving but it can easily reach highway and Interstate road speeds. 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. It has side-by-side seating, great viability, and drives just like a car.
Because of the EV110 design and efficiency it is in a perfect place to be the newest thing in transportation, but as importantly, it has the 'it' factor. The prototype has never been on a test trip where it was not photographed at stoplights and parking lots with people smiling and giving the driver the thumbs up. So many people have said “everybody is going to want one” we are thinking of making it our motto.
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 and using interchangeable snap-on plastic body parts that require no paint booths in production or rust problems when the vehicle when it is in use. The power train is composed of a standard off-the-shelf electric motor and a battery controller that has been used in conversion kits for years and are known for their reliability and performance.The lithium batteries have a life expectancy of 2,000 charging cycles which under average use should last 20 years. The cost of charging the batteries is estimated to be a less than $200.00 dollars per year. Currently the prototype is getting over 100 mpge and the potential of the vehicle is closer to 150 mpge. The EV110 will reach 80 mpge at the low end and 200 mpge at the high end depending on the terrain, passenger weight, and the size of the battery power pack.
The current market for electric vehicles is around one million units per year and growing. For the EV110 commuter vehicle we have a conservative plan to produce 5,000 units annually on an outlay of ten million dollars (US) that will yield a thirty million dollar gross margin.
The 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 that translates into low operating costs. The EV110 has few moving parts so buyers will not face all the ICE complexities and problems from tune-ups and repairs as the vehicle ages. The third group of buyers are concerned with the fuel costs and the last group of buyers want a vehicle that is different and unique.
There is not a production three-wheel electric vehicle in the auto market. Among the companies trying to ready a product offering is the Elio three-wheeler which gained notoriety by offering a vehicle with a proposed cost of $6,800.00. It's shortcomings are that it is gas powered which makes it too complex to produce and still hit the stated target price. It also has one person sitting behind the other like a motorcycle and no rear window. While Elio continues to collect millions of dollars in reservations (some of which are non-refundable) they do not seem to be moving toward production.
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. He has a base of supporters from the e-bike venture and and the low price point has many people excited. He developed a prototype using the one million dollars he collected in a recent crowd funding, but it was sent back to the builders with a series of problems. He appears to have a learning curve ahead and then there is the problem of the promised $10,000.00 price point. One supposes he bases the price on an economy of scale achieved on his projected production goal of 120,000 units annually. That would mean he plans to capture over one-tenth of the world market in his first year.
The Solo EV is an effort based in Vancouver, Canada. It is a single-seat EV that they say will get 80 miles per charge and achieve highway speeds. The vehicle is cramped on the inside, it doesn't appear to have crash protection, and has no rear view window. Still, the market is so thirsty for an affordable EV that they have over 60,000 reservations for the vehicle, but as of this writing they have no production. As an update, they have had a very successful fund raising campaign recently and we will see if this gets them into production.
We expect to raise the funding by offering one million shares of stock at $12.50 per share.
The original plan was to have the vehicle assembled in America, but we are open to investor preferences.
The initial sales for the vehicle will be through a company website. We will promote the EV110 online through press releases, advertising, and attending auto shows. We will also have an arrangement with several financial institutions to help buyers with financing.
The EV110 is a simple, solid, and efficient electric vehicle designed by someone who has been at it for a while and who can bring it into production quickly where others have not been able to do it at all. I am ready to build electric vehicles. Let's talk it over.
Sincerely, Jim Davis
Tri-Max Electric Vehicles