Idea Pitch - Electric Vehicle
As the global economy faces uncertainty, rising interest rates, and shrinking consumer budgets, the demand for affordable transportation has never been greater. The electric vehicle (EV) industry, has a unique opportunity to capture a massive underserved market: the $5,000 price segment. The Problem The Car Market is Struggling : New car sales are declining due to high prices and financing costs, while the used car market (particularly for vehicles under $5,000) is booming due to affordability. Consumer Aversion to Motorcycles : While motorcycles are affordable, many consumers are hesitant to adopt them due to safety concerns and discomfort, despite the thrill and efficiency they offer. EV Adoption Barriers : The average consumer cannot afford a $25,000 EV. This leaves a significant portion of the market untapped. The Solution We propose developing a low-cost, electric reverse-trike (three-wheeled vehicle) that combines the affordability and regulatory advantages of motorcyc...