Detroit-based EcoV Electric claims that it can now offer a $12,000 electric vehicle called the EcoV.
The EcoV is designed like a delivery van, and $12,000 is a very low price for a delivery van. The company says that it has achieved the low price tag by utilizing a low-capital-intensive business model, which is the opposite of what car manufacturers usually use — a highly capital-intensive business model.
A capital-intensive business model involves purchasing factory machinery with a high initial cost, and these machines have to pay for themselves for them to make financial sense. A high production volume is required for them to pay for themselves, and electric vehicle production volume (in general) is currently low, making it more difficult for factory machinery to pay for itself.
EcoV.
Image Credit: EcoV Electric.
According to the company website:
The EcoV is the Best-In-Class high value, high-quality LSV alternative to moving people and cargo outdoors or indoors in cities and urban areas where trips are usually short and at lower speeds. Its car-like design provides exceptional comfort for all climates. It recharges for fifty cents from a standard wall outlet to go 25 to 40 miles and is virtually maintenance free.
And at a price tag starting at $11,999, well equipped as seen in the video above. Payback comes in less than a year with a fuel bill for the year under $100, virtually no maintenance and longer life than a gas car or truck.
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