Tue, 29 March 2011
John Harding, Founder and Chief Executive of Current Motor Company, talks with Larry Eiler of Eiler Communications on another edition of ReNew Michigan. Current Motor is develops and manufactures all-electric motor scooters in Ann Arbor, Michigan filling an un-met need for electric vehicles (EV). Larry and John discuss the growth of the scooter manufacturer from a personal passion in 2007 to a company eyeing international markets.
After purchasing and upgrading his own electric scooter in 2007, John encountered a curious customer base leading to a more robust operation in the founding of Current Motor in 2008. Since then, the company has focused on an audience of Green interests, similar to the mindset of Ford Prius owners. Current Motor offers motor-scooters that can be recharged with a regular household outlet. Currently offered scooters include three distance and mileage ranges:
John points to two major factors propelling the EV market in years to come. The first being technological innovations. And the second factor coming in the form of lowered prices stemming from these innovations. As John tells us, the last big push for EV came in the early 1990's, but a great deal of development has occurred since then making EV a more realistic option in today's market.
Current Motor's success, like many smart business ideas in Ann Arbor and Southeastern Michigan, found support in the growing venture capital community. John points out that businesses like his must be "ready when the wave comes". As you'll find in today's podcast, the wave is closer than many think.
Thanks for listening. For more info on Current Motor Company, Ann Arbor's Venture Capital Community or Eiler Communications, click the links below: