Starting an electric car company is the newest hobby of the super rich. Just ask Miles Rubin or Elon Musk what they do on the weekends and they will tell you it's electric. But what about cost, you say? I can only scrounge together tens or a couple hundred million dollars. Your billionaire friends will laugh at you saying millions won't even pay for crash tests but they are wrong. I have the top 10 secret, insider, loop holes - I mean, opportunities, to get you started. Go below the fold to begin your trip into the exciting world of starting an electric car company on the cheap.
1. Three Wheelers - Legally, a three wheel vehicle, even if it looks like a car, is a bike. In America, bikes don't have to be crashtested which is a major cost of getting a car to market. You can still try to make a safe car and do your own crash tests. See: Aptera.
2. Go to China - The car industry is developing very quickly in China. Everyone will tell you, China will be very important to the future of car production. Chinese cars have had a few problems with safety but you can fix that by promising to be the first crashtested electric car. See: Miles.
3. Go to India - India is quickly developing a very good car industry. Tata Motors promises to make a car for a few thousand dollars. Tata is also reaching out to green companies and you could be one of them. There are still few details about the several thousand "people's car" though. See: Tata.
4. Go to Thailand - No, the entire top 10 list is not a travel guide. This is the last country, I promise. Thailand has a massive tax saving program in place if you want to make a green car plant in their country. America has tax credits for hybrids and plug-ins but other countries are doing much more. See: Air Car.
5. Top speed: 40 MPH - Another way to get your car on the roads with the least amount of legal hurdles (except for Canada) is to make a low speed vehicle. So called city cars or NEVs (neighborhood electric vehicles) are not allowed on highways and cannot go more than 40 MPH (or lower, depending on the State). See: Flybo.
6. Get the major auto-makers to make the car for you - This is a hat-trick only one company is attempting: Project Better Place, which plans to develop a network of battery replacement stations. Cities like Paris may also create an instant market for electric cars with 2,000 car rentals. See: Project Better Place.
7. Win the Auto X-Prize - If you won the Auto X-Prize, you would get a cash prize, media attention and you can go around saying you beat a lot of very good green cars. The only problem with this one is you have to win. A lot of very good electric car companies already confirmed they'll be your competitors, like Loremo. See: Loremo.
8. Make a high end sports car - Tesla has hit a few bumps recently, but their model of taking on the $100,000 car market with a Ferrari-like electric roadster just might work. They plan to make the Whitestar, a $50,000 electric car in several years. This is a model you might mistake for an electronic gadget. See: Tesla.
9. Buy an electric car company - You are not the first person that tried to make an electric car company. Plenty have tried in the past and are ready to hang up their hats. Sure, you might have to put up with technology and styling that's a little dated but you would have an electric car up and running instantly. See: Sparrow.
10. Take the engine out of a regular car - I am not a big fan of this one because you have to re-brand an already existing car brand but you can become a converter. Also, if you can't find something to do with the gas engine you replaced with your electric one, you have that added cost. Some companies have pulled if off though. See: Ebox.
OK, no excuses. Get out there and do it. :)
1. Three Wheelers - Legally, a three wheel vehicle, even if it looks like a car, is a bike. In America, bikes don't have to be crashtested which is a major cost of getting a car to market. You can still try to make a safe car and do your own crash tests. See: Aptera.
2. Go to China - The car industry is developing very quickly in China. Everyone will tell you, China will be very important to the future of car production. Chinese cars have had a few problems with safety but you can fix that by promising to be the first crashtested electric car. See: Miles.
3. Go to India - India is quickly developing a very good car industry. Tata Motors promises to make a car for a few thousand dollars. Tata is also reaching out to green companies and you could be one of them. There are still few details about the several thousand "people's car" though. See: Tata.
4. Go to Thailand - No, the entire top 10 list is not a travel guide. This is the last country, I promise. Thailand has a massive tax saving program in place if you want to make a green car plant in their country. America has tax credits for hybrids and plug-ins but other countries are doing much more. See: Air Car.
5. Top speed: 40 MPH - Another way to get your car on the roads with the least amount of legal hurdles (except for Canada) is to make a low speed vehicle. So called city cars or NEVs (neighborhood electric vehicles) are not allowed on highways and cannot go more than 40 MPH (or lower, depending on the State). See: Flybo.
6. Get the major auto-makers to make the car for you - This is a hat-trick only one company is attempting: Project Better Place, which plans to develop a network of battery replacement stations. Cities like Paris may also create an instant market for electric cars with 2,000 car rentals. See: Project Better Place.
7. Win the Auto X-Prize - If you won the Auto X-Prize, you would get a cash prize, media attention and you can go around saying you beat a lot of very good green cars. The only problem with this one is you have to win. A lot of very good electric car companies already confirmed they'll be your competitors, like Loremo. See: Loremo.
8. Make a high end sports car - Tesla has hit a few bumps recently, but their model of taking on the $100,000 car market with a Ferrari-like electric roadster just might work. They plan to make the Whitestar, a $50,000 electric car in several years. This is a model you might mistake for an electronic gadget. See: Tesla.
9. Buy an electric car company - You are not the first person that tried to make an electric car company. Plenty have tried in the past and are ready to hang up their hats. Sure, you might have to put up with technology and styling that's a little dated but you would have an electric car up and running instantly. See: Sparrow.
10. Take the engine out of a regular car - I am not a big fan of this one because you have to re-brand an already existing car brand but you can become a converter. Also, if you can't find something to do with the gas engine you replaced with your electric one, you have that added cost. Some companies have pulled if off though. See: Ebox.
OK, no excuses. Get out there and do it. :)
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