Bob Lutz rides again. And again. Everyone's favorite former auto executive has saddled up with a new electric scooter company, investing a sizeable chunk of change into Current Motor and taking a spot on the company's advisory council.
As of right now, the scooter maker offers a total of three different two-wheeled rides with varying top speeds. The base model, the Economy C124E, carries an MSRP of $6,499, maxes out at 55 mph with a range of around 30 miles, and supposedly charges in just four hours from a standard 110-watt home outlet. The lineup tops out with the Deluxe 130 which goes for a shave under $8,000, though its top speed of 65 mph and range of 50 miles makes it a slightly more appealing option.
Lutz says his work with Current Motors makes perfect sense given his dedication to bringing an EV to market throughout his career. He's already championing a pilot program that will offer buyers $2,000 off the sticker price if they commit to providing feedback about their machines via Twitter and Facebook. Hit the jump for the full press blast.
[Sources: Motorcycle, Current Motor | Image: @JeffreyNRoss]
Current Motor Company Adds EV Pioneer Bob Lutz, VC Guru Lauren Flanagan to Leadership Team
Ann Arbor, Mich. (January 4, 2011) – Current Motor Company, a Michigan-based startup that has developed a revolutionary electric motor scooter, recently added Bob Lutz and Lauren Flanagan to its leadership team. Lutz, who was previously General Motors' vice chairman of product development, will chair Current Motor's Advisory Council. Flanagan, a Business Week "Top 25 Angels in Tech" investor, will chair Current Motor's Board of Directors.
Lutz and Flanagan were the first investors in Current Motor's $1.5 million "Series A" round of financing, currently in progress. The Michigan Pre-Seed Capital Fund has invested $250,000 in the round.
Lutz, who was the only top executive to serve at all three domestic automotive companies, was a champion of alternative energy vehicles while at General Motors. "I've dedicated my career to bringing electric vehicles to the mainstream," Lutz said. "Investing in Current Motor affords the opportunity to work with an exciting start-up that has a great product with significant potential to influence consumer transportation. The Current Motor line of electric motor scooters show tremendous promise and are fun to ride."
Flanagan has over 25 years founding and operating platform and consumer software companies, mostly working with start-ups in the California Bay Area. She brings national early stage investing and board governance expertise to her new role at Current Motor.
"Current Motor's customer focus on creating best value and best service positions the company to be one of the big winners in the electric motor scooter category," Flanagan said. "I'm pleased to invest in such top engineering talent and, as chair of the Board, will work to strengthen the company's position and help power its strategic growth. Growing Current Motor and creating jobs in Michigan are among my top priorities."
Lutz and Flanagan join a founding team of outstanding engineering talent, including:
* Current Motor's co-founder & vice president of product development, John Harding, has deep software development expertise through his previous work with Thomson Reuters, and powertain electronics expertise developed at Ford Motor Company. He began selling electric motor scooters in 2007.
* Current Motor co-founder & chief engineer, Erik Kauppi, has deep domain expertise in automotive engineering developed at Corsa Instruments and Ford Motor Company.
* Peter Scott, Current Motor's president & head of business development, has over 20 years engineering and startup experience developed at General Electric and Electrojet.
* Terry Richards, Current Motor's manager of electric vehicle technology, has 30 years experience pioneering electric vehicles, including Chrysler's first electric minivan, Volkswagen's Rabbit EVs, and Tata Motors.
* Chris Deyer, Current Motor's manufacturing manager, brings production system expertise developed at Continental Automotive Systems.