According to Myers Motors, this is a car, but due to its classification (because of its three wheels) it is considered a motorcycle. So which is which? Well regardless, the good news is that this company has gotten able investment backers as Jumpstart Ventures Investment has committed $250,000 to the manufacturing of electric vehicles.
The car is christened the NmG (No More Gas), a single passenger vehicle that can travel on highways and can reach speeds of up to 75 mph. One charge allows it to run 60 miles. If you look at it, the NmG may be ideal for 80 percent of Americans who commute to and from work alone and accommodate nearly half of Americans’ travel needs beyond work, which include errands and other day-to-day activities done solo as well.
JumpStart Venture Partner Mark Smith will be working with the company and is excited about its position in the market. “There is a race underway to create cost competitive all-electric vehicles and the Myers Motors team has an incredible head start,” said Smith. “Not only did they inherit a legacy of market knowledge and design from the predecessor company, they are already producing and selling vehicles. And the two-passenger vehicle (called NmG2) currently under development will provide Myers Motors with a significant competitive advantage in this quickly emerging market.”
(Source) Press
Tags: backers, competitive advantage, electric vehicles, emerging market, head start, highways, Legacy, mark smith, market knowledge, market source, Motorcycle, nmg, partner mark, passenger vehicle, predecessor company, three wheels, venture partner