COMPANY

Name: Ampere Motor USA

Legal Name: AMPERE ELECTRIC CARS, INC.

Location: Los Angeles, CA, USA

Founded: August 2017

Founder(s): Tony Chan

Website: https://www.amperemotor.com/

Social Media Following: 14,372 Likes on Facebook

INDUSTRY – Electric vehicle

Size: 1 million units sold (2018)

Projections: 18.7 million units by 2030 (Source: Edison Electric Institute)

Introduction

The first Los Angeles-based electric vehicle company, Ampere Motor USA, offers a green and affordable three-wheeled motorcycle model. Built to look like a stylish sports car, this electric vehicle is priced at just $9,900.

The Product

Americans can get ready to trade in their gas guzzlers for Ampere Motor’s sleek ‘electric sports roadster’ that can be easily recharged with clean energy, via regular wall outlets. Ideal for city commute or short weekend road trips, a fully charged roadster can travel up to 99.41 miles.

According to the company, the lightweight and ‘almost indestructible’ vehicle can go from 0 to 30mph in 3 seconds and attain a top speed of 65mph. Roadster’s base model offers a range of 100 miles, and can be upgraded to 150 miles for $2800. It even features pushrod double wishbone suspension and a tubular chassis (usually found in luxury sports cars) to deliver better performance.

Interested parties can reserve an Ampere 1 (2019 edition) for $199 and get an electric briefcase scooter free, for a limited time period.

Origin and Founding Team

Co-founder of Ampere Motor, Tony Chan, has always loved being around automobiles. He went from waxing his neighbor’s car (for pocket money) at the age of seven, to repairing and selling classic cars while attending UCLA, to moonlighting as a race car mechanic while working at Microsoft.

But his tryst with Ampere started in August 2013, with the vision of a fun, beautiful and affordable electric vehicle. Along with his partners and world-class engineers, he created the first prototype in March 2016. Then, in August 2017, Ampere Motors was founded.

Ampere roadster was first showcased to the world on the hit reality TV show, Shark Tank, in February 2018. Soon after the success of the prototype on the show, preorders started pouring in.

Meanwhile, the team devised an innovative manufacturing and vehicle system, which (according to the startengine.com) requires only ‘a few million dollars’ to kickstart the mass production and worldwide sales.

And once the DMV license plate approval (April 2018) and official trademark (May 2018) came through, Ampere started mass production in the last quarter of 2018.

Performance and Trends

Having pre-sold 400 Ampere roadsters (April 2018), the company expects to make $4Mn+ in future receivable sales.

In terms of gross profit margin, Ampere is looking to earn around 20%; factoring in the relatively low production volumes during the launch phase. Two years hence, a 25-40% profit margin is what the team is gunning for.

By making electric vehicles more cost-effective, Ampere’s vision is to grow the technology’s adoption rates in the USA and beyond. On the back of its global ambitions, Ampere Motors hopes to deliver 100,000 Ampere Roadsters within the next four years.