Electric scooter and motorcycle companies all over the United States – and nations all over the world – are finding their products in demand more and more. Of course, at this point in the development of the industry, the profits are not exactly rolling in for everyone. Most such companies are relying on so-called “angel” investors and other venture capitalists to keep them afloat. There exist many bright lights in the industry, however, which are seeing sales continue to rise as the electric vehicle industry gains more and more exposure. And, with all the energy invested in the industry, the technology is constantly marching forward. One new company –started just this October - is hoping to get in on the ground floor of this ever expanding industry segment, Current Motor Company.
Current Motor is a start-up based in Ann Arbor, Michigan, with intentions to get in early on the relatively young new mode of transport and become a serious contender vying for a sizeable share of electric vehicle customers. The company manufacturers three different models of what are, essentially, electric scooters. The range of each of the vehicles is between 50 and 60 miles on a single charge, obviously dependent on driving conditions. At present it takes around 40 hours to build one machine, and the expectation is that 300 will be built next year. But, that is projected to improve, and the number produced to significantly increase, as the company expands and automates more of the process. And, they are ambitious for growth.
One way Current Motor believes the company can compete is on price. With the average MSRP of many presently available offerings ranging between $8,000 and $10,000, Current’s three models sell for $5,999 to $7,499 – a significant savings. The additional federal and state rebate programs will reduce that further still.
There are no illusions at Current Motor, though, and the road ahead will not be easy. At least the company has some serious Detroit backing in GM’s Vice-Chairman Bob Lutz, so the hometown support is solid. The next step is putting their vehicles out in the market. Current Motor President Peter Scott is looking to be a big part of the industry, so expect to hear much more about this new Detroit electric motorcycle company very soon.
