Electric motorcycle firm Current Motor Co. wins startup business competition
Current Motor Co., a Scio Township-based startup that's developing electric motorcycles, won the Great Lakes Entrepreneur's Quest's "emerging companies" mid-year competition.
The $5,000 award, announced Thursday night at the Annual Collaboration for Entrepreneurship event at Ann Arbor's Skyline High School, is a recognition of the company's technology and business strategy.
Peter Scott, chief operating officer of Current Motor, said the firm expects to deliver its first electric motorcycle next week. He said the company is aiming to produce 150 bikes this year and raise $2 million in capital in 2011.
The company's electric motorcycles can travel 80 miles on a single charge of electricity. Prices start at $5,500.
"Our bike requires little maintenance, no gas and (has) zero emissions," Scott said.
Diane Durance, executive director of GLEQ, said the organization's business competitions drew 175 entries, up from 47 just two years ago.
Ypsilanti-based RealKidz, which makes plus-size clothes for young girls, won the $2,500 second-place prize. Ann Arbor-based health care information technology firm White Pine Systems won the $1,500 third-place prize.
Contact AnnArbor.com’s Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter.
Comments
jdh2550
Mon, Jan 25, 2010 : 5:12 p.m.
@Jack - two things to consider: (1) It's not only an economic decision - it's a lifestyle and sustainability choice as well. People often make transportation decisions based on these aspects more than the pure economic questions. (2) If you look at a comparable product - such as a Vespa 300GTS - you'll see that has a price tag of $6,000+ and a performance (aside from range) similar to our flagship which costs $7500. If you consider total cost of ownership (no oil changes or yearly tune-ups) you'll find that our vehicles cost less over the life of the vehicle (say 7 years / 70,000 miles). Furthermore our bikes have benefits (and thus value to the customer) with ease of use and convenience when compared to the gasoline equivalent. However, if you want a scooter for riding from MI to TN - I do agree that we're not the bike for you! :-) @JJ - In this context "zero emissions" refers to "zero emissions at point of use". However, I realize that the thrust of your comment is that the electricity generation produces emissions. A couple of things for you to consider: (1) Electricity generation is trending cleaner. So, your electric motor-scooter (you will buy one, won't you?) has less impact over time. However, your gas motor-scooter starts off bad and gets worse (as gas engines tend to pollute more when they're not kept in perfect tune). (2) Even taking into account the current mix of power generation in the US - EV's are still considered cleaner than the gas equivalents. Of course, there are a wide range of studies showing different responses - but when the body of work is looked at as a whole I believe the figure is that EV's are around 20% to 30% "cleaner" (3) If you happen to own enough hamsters, or a solar panel, or a windmill it is possible to generate your electricity cleanly. OK, I'm not sure about the methane output on hamsters! However, I know one thing - you can't make your own clean gasoline... ---- Thanks all for your comments. I most definitely am related to the company and as such as biased as all heck. But I believe the above counter-points can help folks determine the various aspects of ownership that Jack and JJ highlight. All the best, John Harding (co-founder www.currentmotor.com) I'm happy to continue the conversation with anyone interested. john@currentmotor.com
JJ
Sat, Jan 23, 2010 : 12:37 p.m.
Zero emissions? So is there a hamster somewhere walking endlessly on the wheel in his cage running a generator to supply the electricity? (PS; although this product is a really great direction, it has a bit of sticker shock tied to it.)
tdw
Sat, Jan 23, 2010 : 10:04 a.m.
@Jack I don't know where you go to TN, but where I go, @50,000 mi I could get 10 trips in
Jack Tucker
Sat, Jan 23, 2010 : 9:18 a.m.
I cnnot understand the economics of this. If one wants to ride a motorcycle, I see them advertised for $1,000 or less and certainly more. Let us suppose one pays $2,500 for a used one, how long would it take to spend the difference for gas? $3,000 at $3.00 a gallon would buy around 1000 gallons. At 50 mpg this would be 50,000 miles. We could go from TN to MI without having to recharge the battery 7 times. Comments? jackfran@peoplepc.com
Dr. I. Emsayin
Sat, Jan 23, 2010 : 8:27 a.m.
The company's founders are hard working, honest people with the highest standards. I am not related to them or the business, but if looking for an electric scooter, they'd be the ones I'd trust.