– Henry Ford
In 1908, the new technology was self-propelled “horseless carriages.” Two hundred and fifty-three models of these were already in the market — but few people bought them because they cost too much. What everyday people really wanted was a better version of what they already knew — namely, faster horses.
Today’s new technology is cars that run on electricity. Tens of millions want to drive electric cars to save our planet from climate catastrophe, but over 96% of Americans keep buying gas cars because today’s electric cars cost too much and aren’t as good as gas cars for long-distance trips.
The Model T was affordable, practical to use and profitable to build. The Model T of EVs is an electric car being used for local trips as a 2nd family vehicle. Myers EV is building the Model T of EVs — it is more affordable to buy than the average used gas car, it is practical for 7 of 10 car trips, it is simple to charge (at home, from a standard 110-volt outlet, overnight) and it is projected to be profitable to build on volumes as low as 1,000 cars per year.
The Model T was faster — it wasn’t a horse — but it turned out to be just what was needed for the new century and millions of people bought it.
The Point5 is electric — but it’s not a 4+ person, all-purpose, long-range car that can be fueled in five minutes. However, it is cheaper to buy and operate than a gas car for about 70% of all our driving needs. The Point5 represents a disruptive new market segment at a much better price point for consumers who want to drive electric affordably.
Micro-factories where local people build, sell and service these electric cars is why Myers EV doesn’t need to spend billions of dollars to get to production – but is how Myers EV projects it will get to profitable production on a much more affordable $100 million or less.
