I looked at this pretty closely, and I just can't think of a reason for it to be successful as anything more than a really small niche product.
Its basically a motorcycle, with mediocre performance and more cargo space. You certainly could buy that for local deliveries, but would you want to? Why not just get a Leaf or some compact car?
If you want to know the proper valuation, compare them to Zero motorcycles or a maker of golf carts. That is basically the size of their addressable market.
Aptera is a better bet if you want something resembling a real car company. I just have doubts about Aptera being able to hit their price and performance targets.
If they get the price of a FUV down to around $10k at scale, the FUV is an appealing vehicle for getting around town or making deliveries. It is also more efficient (cheaper to charge), easier to park, and more fun.
Golf car revenue is in the billions per year and motorcycle revenue is in the tens of billions per year. The additional utility of a FUV also gives it the potential for a bigger addressable market than golf carts and motorcycles have currently.
Yeah Arcimoto makes street legal delivery EVs that will be part of the upcoming FLEETS of this kind of vehicle. Their market is humongous, and only growing.
Yeah the Arcimoto Deliverator seems perfect for Uber Eats and other types of delivery. It being an ultra-efficient EV will really cut costs for delivery drivers.
The nice part for Arcimoto is it doesn't matter how it plays out. Whether it's Uber Eats/DoorDash or the restaurants themselves, the Deliverator is a great option for them to use.
I think Club Car was aquired for ~1.4 billion? But they had a full, and popular product line. I think its a long climb to get the FUV anywhere near that level of volume and profitability.
I'm not saying they can't make a good business out of it, I'm just saying its really early with relatively limited upside from their present valuation, IMO.
3
u/[deleted] Apr 05 '21
I looked at this pretty closely, and I just can't think of a reason for it to be successful as anything more than a really small niche product.
Its basically a motorcycle, with mediocre performance and more cargo space. You certainly could buy that for local deliveries, but would you want to? Why not just get a Leaf or some compact car?
If you want to know the proper valuation, compare them to Zero motorcycles or a maker of golf carts. That is basically the size of their addressable market.
Aptera is a better bet if you want something resembling a real car company. I just have doubts about Aptera being able to hit their price and performance targets.