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Next.e.GO Mobile SE is a manufacturer of electric vehicles for urban mobility, with a mission to provide convenient and affordable transportation solutions. Founded in Germany, Next.e.GO Mobile built its first urban electric vehicle prototype in 2016. As part of its efforts to expand its business to the international market, the company is preparing to list on the New York Stock Exchange.
In an email conversation with AlphaStreetAli Vezvaei, chairman of the board at Next.e.GO Mobile, provides insight into various aspects of the company and its development. Here’s the full interview:
Can you give us a brief overview of the company?
Our mission at e.GO is to design and manufacture electric vehicles for urban environments, with a focus on comfort, practicality, and intelligent service. We have a unique and innovative vehicle manufacturing strategy that allows us to develop and produce urban vehicles faster and with less capital investment compared to traditional vehicle manufacturing methods. e.GO has pursued this mission by focusing on sustainable practices, driven by unique and disruptive production facilities, called “MicroFactories.” We have produced cars from MicroFactory in Germany and e.GO has put more than 1,300 vehicles on the road so far.
How do you expect the business to benefit from the NYSE listing, in terms of taking growth to the next level?
As a public company, we plan to immediately increase the opportunities and resources available to us as we continue on the way to scale our business, expand our team, and provide our customers with convenient and practical electric vehicles for urban environments as well. our MicroFactory production system. We believe this highly strategic business decision is the best course of action as it allows e.GO to receive all the benefits that come from listing on the NYSE, while setting the company up for the potential expansion of global operations.
Can you explain your ‘low Capex production system’, and how it differs from traditional manufacturing processes?
At e.GO, we are united around sustainable and intelligent electric mobility as the answer to some of the biggest challenges facing the planet today. However, it is not that simple. Producing electric vehicles should be done carefully, deliberately, and practically. For us, the main causes of some of these environmental challenges are the unrestricted use of resources, the intrinsic limitations of existing infrastructure, and the resource requirements associated with large-scale production facilities.
In addition, we believe that environmental sustainability is not sustainable and economically feasible without some form of economic value added to local communities and countries. With this in mind, we have created a platform, product, and production system that we believe is unique. Today we build what we consider to be one of the most sustainable urban battery electric cars – and according to our calculations, we do this by building a production facility in about 50 percent of the time and less than 30 percent of traditional Capex compared to traditional industry. How to do this?
- First, German engineering and technology, which is known for its reliability and quality.
- Second, we build cars in a different way using durable materials such as aluminum and polymers, while using innovative spaceframes and smart skateboard platforms.
- Third, our cars are deliberately designed to meet the specific needs of urban customers in terms of convenience, flexible charging, integrated technology, and service.
- And fourth, our production technology and MicroFactories are designed to eliminate the need for some capital and energy-intensive steps in traditional OEM processes, which in turn reduces capital costs, facility footprints, as well as energy demands – which are now more front and center when we looking forward to a more sustainable future.
Now, do you have any plans to set up MicroFactories outside of Europe?
Yes, we are a global company and we envision MicroFactories being developed outside of Europe in the future. We believe our business model offers many attractive benefits to local economies around the world and e.GO. For example:
- The decentralized footprint provides e.GO with a potential hedge against global disruption.
- By establishing local roots, we can increase the “Value-Added In Country” we bring to each geographic location.
- Our innovative technology attracts local talent and can create jobs and economic benefits.
- Our sustainable model has the potential to give you the right to access local subsidies and benefits.
- We can also offer potential reductions in overall transport costs as well as more favorable import rates.
Where do you see Next.e.GO Mobile five years from now?
It’s impossible to say that anyone will be five years down the road, but if we think about the future of e.GO – there is a lot to be excited about. We envision that e.GO will continue to lead the transition to global, emission-free, and urban mobility with innovative, sustainable, and durable electric vehicles. Our MicroFactories will continue to bring production closer to market while creating economic value for local communities. As part of its decentralized and global growth strategy, e.GO recently announced a MicroFactory in North Macedonia and plans to build new MicroFactories in other developing and emerging economies.
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Furthermore, recent positive developments in the US including the introduction of the Inflation Reduction Act encourage us to also consider establishing a MicroFactory in the US. We also expect to see increasing interest in using e.GO electric vehicles for commercial purposes – including urban delivery, carpool services, and healthcare services.
It is clear that the world is focusing on more sustainable transport solutions – making the use of electric vehicles essential. And that’s where e.GO can provide value. We offer affordable electric vehicles designed for urban environments with a manufacturing strategy designed to reduce emissions and provide value to local communities.
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