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EVEN Electric's first showroom in Iceland's capital displays electric cars from Renault and Tesla.
EVEN Electric's first showroom in Iceland's capital displays electric cars from Renault and Tesla.

Selling Electric Cars to the World - Part 2

By Bill Moore

Part 2 of interview with EVEN electric co-founder and CEO Mike Elwood on how the plans to finance their network of multi-brand electric car showrooms from Newfoundland to Panama to the Czech Republic. Can the USA be far behind?

PART 2: This is all well and good, but how does EVEN Electric plan to finance an endeavor of this magnitude? In Part 2, Elwood explains how the company is using "a different business model" from the standard car dealership that requires tens of millions to launch. Having reintroduced Indian Motorcycles in the 1990s, an effort requiring millions of dollars in investment, he says this venture doesn't need anywhere that level of funding. While they are exploring different options from private equity to government aid, they have raised enough in the first round, plus dealer license fees to open several showrooms, one of them, interestingly in St. John on the island of Newfoundland. Not far behind it will be one in the Czech Republic and in Panama.

EVEN Electric is only a part of a larger vision for Elwood that includes energy efficient building systems, home chargers, and recycled post-consumer waste.

Also discussed is their involvement in the cross-Canada electrification of Highway 1 and introduction of the first EV charging station in Cuba. Interest is being expressed elsewhere in Canada, the USA and in Europe. Elwood promises that EV World will be the first to know as these deals are consummated, so stay plugged in here.

GO TO PART 1 HERE

VIDEO PART 2

Times Article Viewed: 4886
Originally published: 20 Sep 2016

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