Transcript
Theodoros
I'm Theodorus VAPA spiritis. I'm the founder and CEO of E2 mobility. Great to be here today and excited to introduce you to E2 mobility, the holistic solution for share transportation, for the new set, the new era of share transportation. We all know mobility as a service is huge. See a huge market growing exponentially at a double digit rate, and expected to reach $450 billion by 2025 and become the 77% of the miles driven in United States only by 2035. So it's going to be actually the main way of personal transportation is going to dictate the personal transportation. But at this point, shared mobility, mobility as a service, has a fundamental problem which is the driver is not making any money, is making below minimum wage in most instances, and he's unhappy he has a very high turn in moving from one job to another.
The mobility providers like Uber and Lyft don't make money. They actually lose, on average, $2 per ride. The vehicles are not made for sale transportation. So you can see some pictures that one we saw here with unhappy people in a car and being in a difficult moment, especially with the COVID era, drivers don't have enough support while they're doing the job, so they have a very high, inefficient time between rides. And all the above give you the feeling there is something missing from this equation. And the diagnosis is, what is missing is a purpose made vehicle for the job, and this vehicle should be a vehicle that has a hardware and software dedicated for the job. And I'm happy to introduce you today to the first purpose built vehicle for sale mobility, which is the e2 flex. The e2 flex, as you can see, is a fully electric Ultra green vehicle. And I will elaborate later what Ultra green means. It's made for moving passengers and cargo, cargo, light cargo, last mile, delivery, cargo. And it's made to expand the opportunities of operators drivers for more earnings.
This is happening with an intelligent solution in terms of software. It's actually aggregating opportunities is helping downside to down the time of the driver being in between rides, and it's supporting the driver and providing useful data to us as providers.
Here you can see the business class seat of the vehicle. It's you can only find something similar,only then airplane. There is nothing similar in in the car business, the space is unprecedented. It's fully configurable, the seat, the climate control, infotainment, connectivity, of course, all the above are giving you a feeling of ownership that we all have some emotional engagement with vehicles, and that's what we believe it's critical to engage people more into using shared mobility and all the above are coming with a meticulously taking care decontamination of the cabins, because there are three separated cabins, as I'm going to show later, so that we don't have any unpleasant surprise after the end of this ride, the same vehicle can entertain light, light, cargo, light, last mile, delivery, cargo, and the access is very helpful.
Here is the way we kind of reinvented this the interior of of the vehicle, and we have four separated cabins, one for the driver and three for passengers. These are fully private. Provide a new standards for safety and security. We are getting into an Uber car. We see somebody we never saw in our lives, and we're sitting in the same small space. Maybe a new passenger comes in, then it's even more uncomfortable. Sometimes it depends, but in this case, you have the option in the second row to either maintain contact with the other person, or isolated, compartmentalize yourself, so it's made specifically for the job. And coming from the angle of luxury, we could think that this probably becomes a problem for the environment, because usually what happens is luxury comes at cost, at the expense of the environment. I mean, expensive car with nice interior, luxurious comes at very high cost for the environment. In our case, it's the opposite. We're doing three and a half times better environmentally, comparing to an internal combustion engine vehicle, and double the footprint of a best in class electric vehicle, and this is happening with an average of 1.2 passengers occupancy of the vehicle, which is what happens today. Our work is to make it five times, because we plan to make it two passengers per vehicle average occupancy.
And again, when we hear luxury, we hear environment. Next thought is, it must be very expensive, but it's not. It's actually on the opposite it's 60% lower than the average ownership cost of a vehicle today is 22 cents per mile. It's an unprecedented number, and it's making the difference between being below water and making a living for a driver, the driver also has a one stop shop. He's working with us. We take care of all the back end. The driver has nothing else to do but to commit weekly with us and drive miles. We take care of everything else. His only job is to drive miles, because driving miles is what works for us, what works for him, also. We have a line interest, and by doing that, we have a multiple of three in terms of lifetime operating profits comparing to a traditional OEM. So align interests lead to a multiple three of profitability comparing to selling cars and selling miles, we're selling miles, and this is what happens now. We are not new in this field. We won the XPrize into in 2010 and we reinvented the architecture of the car, competing with 111 teams, and our car is actually in the candy for museum because because of that, and obviously, we validated our technology by competing. It was a very vigorous competition. We got a tremendous response from the press, considering us the first 21st, century car, and we are going to imply all this knowledge to this SMV today, to flex, who is going to be, again, the world's most efficient vehicle serving shared mobility, shared mobility today,
Let's wrap it up, 60% lower operating costs making a Driver. Driver is making a living suddenly in terms of costs, expanding and supporting the driver, the driver now has a network that is supporting him, and he gets also good assistance in terms of optimizing his downtime, allows the pool to work which doesn't work today because of its compartmentalized configuration,
and at the same time, offers a business class Experience unprecedented in this industry.
It comes at the 5x reduction for the environment and three times improvement of the lifetime economics. And it's going to be applied to a $215 billion massive market, growing with double digits, as I said in the beginning. And I would like, if possible, to show you some way we're envisioning this thing to work. It might be a little bit more obvious to see it, if we can show that there is a video for that.
So here is an operator, a driver who wants, who chooses to get a vehicle. He goes to a location that the vehicle can be found. Is inspecting the vehicle, and he sees his interior, meaning making sure that the vehicle is in good condition. Here is the cabin of the driver, and you can see he has, on the right hand, this big screen that allows him to see the different services he can do, to choose provider, to see opportunities, to accept one opportunity and then start driving.
Now he's in front of the first passenger. The passenger gets into the vehicle, has the option to to experience what she enjoys in her ownership. Environment, temperature, infotainment, and as the vehicle progresses, it gets more passengers it comes to the final destination. Hopefully there was three going in the same destination, maybe an airport or something. This vehicle, these passengers can leave the vehicle and the same vehicle can be transformed to a last mile delivery vehicle and continue working. And with that, I would like to say thank you for your time, and I will be happy to go for Q and A if Are there any questions for the
Thank you.
Host:
Thank you very much for the presentation. I'd like to start out maybe if you could addressing one of the big topics, which is mobility as a service has a lot of opportunity from a revenue perspective. It's something that the automotive industry as a whole is focusing on. And as you mentioned, Uber and Lyft are unprofitable today. Could you walk us through, I guess, the high level around how your vehicle solution will potentially lower those costs?
I know you had some graphics around the numbers, but just give a little bit more color as to the solution you're bringing to the table so that we can think through the implications for the industry over time.
Theodoros:
Yeah, as I said, the vehicles are not made for the job that are used today. So the manufacturers did never try to optimize these vehicles for the job. And what we did is we we created a vehicle from the interior to serve the needs first, and we packaged it with our technology, which results with proven tests as the world's most efficient way to put into a car. And we in combination with this highly efficient technology of by design, the manufacturing technology is equally disruptive. We have manufacturing and engineering partner that has a serious contribution into this result. Also it's comprehensible that the more miles you drive, the better utilization you have. You lower your per mile cost. Also our maintenance is is proactive and preventive, and it's happening in house. And all the above collectively are leading to this lowest cost that you've seen.
That's maybe something I'd also like to unpack a little bit. We've seen a lot of startups enter the sector, some with capitalized business models, some with capital heavy business plans. I believe you have some partnerships in place that may ultimately allow you to scale manufacturing, and that's something that I wanted to see, if you could provide a little bit more color around, is how you think about the manufacturing process and the ability to actually scale this business over time. Good question. So we, we have very well known manufacturing partners, we want to outsource manufacturing.
The solution is two ends, the assembly line and the chassis line we have in both cases, the perfect partners, I have to say, and the combination of the two is applicable for scalability in future needs, meaning this assembly line gets a plug in, and this same model can be repeated for scalability in the future.
Host:
Perfect. And then one thing that you've also highlighted is that you have very low potential CO two impact emissions from your vehicles. Could you explain a little bit of why that is the case, obviously on the engineering side?
You think you have a solution that will lower the cost per mile, but at the same time, you're also offering, potentially a greener solution for transport. So that might be something that would be helpful to walk us through. I have to say it's a synonymous to efficiency. The environment is getting benefited the more the efficiency is scaling, and
Theodoros:
We and our partners are in in such a deep level of understanding the efficiency and it's the environment is getting benefited as a coincidence. It's It's so natural, what happens? You push less air, you consume less energy. The environment is getting benefited. It's and the cost is lower. So it's a combination of the above, perfect and then so a lot of the presentation has been representative of the vehicle. Could you walk us through your thoughts in terms of a prototype, broader thoughts on time to market, and when we may actually expect to see these on the road? Yeah. So we developed a prototype a couple of years ago, which actually is now in the process of getting into the industrialized approach of the prototype, which is the beta phase, vehicle, is going to be ready in 12 months.
The next phase the production ready vehicle is going to be ready by the end of 2023 so we'll be in production for the first quarter of 2024 our plan is to to ask to develop a logistic, logistic centers network that is there to support the drivers, the upgrades, the overall support of the of the the ecosystem of the drivers, offering 24/7 customer service and all kinds of other services which is going to be deployed, starting from the East Coast and moving to the west coast. But about 2026, leodorus, as we think about the farther end of that timeline, and the efforts that industry is taking on with respect to level four autonomy, can you talk a little bit about the potential to integrate that with your product? And if you're you know, in talks or in consideration of partnerships in that field. Yeah, we we were early in the autonomy we had. We were exposed very early on in the autonomy, from 2013 so we understand enough to be dangerous, actually, but, but at the same time, we do know how this thing evolving is evolving, and you express it very well. It's not very visible when it's going to be fully obtainable. So what we do is we have vehicles that are autonomous compatible.
We believe that two or three players will dictate the field, and we are obviously ready to collaborate with them. We have two discussions in place very early stage, obviously, and we believe that our actual competitive advantage in this field will be our efficiency. So we theoretically autonomous, agnostic, although we have relationships, but we want to stay focused in our efficiency and our ecosystem. That is going to be the foundation for us to transition to autonomy.
Host:
I think, unfortunately, we're out of time, but that's probably a great place to leave it. And this has been a fantastic introduction to your company, and it's a really interesting story. Thank you so much for your time, for joining us. Thank you and COVID. Thank.
RSS