Hi, this is Wayne again with a topic “Launch Pad – Bolt M1”.
How you doing folks, i’m excited to be here. My name is nathan joftis and i’m the founder and chief scientist at bolt motorbikes, our first product. The m1 is a smart, fully electric motorbike for urban transport, with style attitude and substance. We designed this problem product to solve a problem that we faced every day and i’ll bet you all can relate to it and that’s that getting around in a city getting around in a city getting around in a city, sucks it’ll come more. When was the last time that you looked forward to your commute across the city, more likely than not, each of you spends over 60 hours a year stuck in traffic and looking for parking 60 hours is a week and a half of vacation.
On top of that, most car owners spend almost nine thousand dollars a year just to keep their cars on the road oops. I’M sorry, i went a little ahead. It’Ll we’ll get there all right, particularly in an urban setting. Trips are short and existing options. Just don’t cut it in this familiar traffic jam. You see a lot of cars, trucks and buses, but you don’t see any two-wheelers and the reason is they get to the front of the line. Every time some cities have truly embraced two wheelers they’re great in traffic. Easy to park and cost a lot less than a car to own, but they still pollute the environment, need a license and have costly maintenance.
The electric two-wheelers out there all have their benefits, but they each come with some drawbacks. We set out to create a vehicle that has all of these benefits, but with none of the drawbacks and, ladies and gentlemen, it’s my pleasure to introduce to you the m1. It’S the ultimate urban commuter. It’S part bicycle part: motorcycle oops.
I went a little too far and it went a little too far. The other way we’ll get there anyways it’s a smart, fully electric motorbike with style attitude and substance. It costs less than fifty dollars a year worth of electricity to ride because it meets electric bicycle regulations. You don’t need a license, you don’t need insurance and you don’t need a registration to ride it.
You can ride it in the bicycle lane and park it on the sidewalk for the techies out there. We use a brushless dc motor that has one moving part, so it’s ultra low maintenance. We offer regenerative braking so that every time you slow down you’re putting energy back into the batteries and our bikes are bluetooth enabled. So when they connect to your smartphone.
All of a sudden, you have an internet ready motorbike and you can do some really cool things with that for the adventurous and thrill seekers. The m1 has sport mode with a push of a button or a swipe of your finger and it unlocks the highest performance and most motorcycle, like experience of any electric bicycle with range up to 50 miles in speeds and up to 40 miles per hour. In 1958.
Honda introduced the super cub. This motorcycle went on to become the single most popular vehicle in history. Selling 60 million units now fast forward to today bolt has all of those same benefits, but is smarter, cleaner and even simpler to ride at a high level. Our business model is simple: design, build and sell electric motorbikes. We started in the us selling directly to consumers, but as we grow we’ll expand into europe and southeast asia, including dealer networks and bolt experience stores, but don’t be mistaken. We have laser focus on the us market.
One thing that’s unique about the m1 is that it’s a multi-mode multi-platform motorbike. So what that means is mom who’s. An experienced motorcycle can zip around the city in sport mode, dad who’s new to riding and isn’t quite ready for that power can ride around as an electric moped and both mom and dad can limit the top speed and performance for their son, who just turned 16.. What this allows us to do is reach a more broad market and with increased volume we can improve our margins. Since our september debut, we pre-sold our entire upcoming production run converting to 155 000 in revenue with very few marketing dollars spent over the last five months.
We’Ve shown a consistent 20 percent month. Over month, growth we’ve, given over 200 demo, rides received over well over 600 purchase inquiries and have been featured in some local press as well. We are the team to make this happen. My partner zach and i, when he shows up uh on the screen, have over 30 years in a hundred thousand miles of motorcycle experience and we’ve been electrifying mobility. Since 2006 we set world record. Moped rides developed electric motorcycles for the best in the business, and we’ve worked in the trenches of foxconn. We know manufacturing and we designed the m1 for manufacturability from the start, including our patent-pending battery and drive train technology.
We’Ve been advised by don hutchison who’s, our advisor and a good friend and zach, and i have been great friends for the last 10 years. There’S a clicker in here somewhere. This project has been entirely self-funded and we we’re raising four million dollars to execute on the next year of our vision.
We’Re not just looking for funding we’re looking for an active partnership with smart and engaged investors. So, if you’re passionate about entrepreneurship and want to make a positive change in transportation, i’d love to talk with you after the show, and if i can leave you with one last thought, the next time you’re sitting in traffic or looking for parking, think you could be On vacation, if you had a bolt, thank you very much, all right, motorbikes, nathan, thank you, got some time for some questions from our judges here, uh. Where are you guys, building this right now? What kind of capacity can you scale to we build these right in the richmond district we’ve developed the tooling and assembly process so that anyone with a high school degree can follow our instructions and build these bikes. We’Re planning a run of up to 30 bikes right in our facility currently, but as we grow, we want.
We need to move into a larger space, and certainly you know, while we’re making these in the u.s. You know, large-scale production could certainly happen. Overseas. Um talk about the overseas competitive set because uh you’re, not the only company making electric scooters right.
Well, so we’re not the only company making electric scooters but we’re the only company making electric motorbikes. There are electric bicycles out there. There are electric motorcycles out there, and you know the the motorbikes that are the scooters and bicycles that are coming from overseas. Often have you know low quality, low performance and certainly low range? For instance, you know in my trips overseas i’ve seen a number of electric bicycles being peddled or pushed because the batteries ran out.
These lead acid, toxic batteries. Our batteries are lithium iron, phosphate, it’s the most environmentally friendly chemistry available and they pack a punch and have the range to ride all day. Um. I’M sort of wondering there’s all these different classifications of these, like two wheelers. Absolutely. How does this a lot of times? I figured the the regulatory environment is like you can’t actually use the performance aspect you’re talking about legally does this? Is this some kind of gray zone yeah? It’S good question. So in the u.s electric bicycles are very new. You know in europe plenty of bicycles, so through our software we were able to limit the top speed and the max performance to meet electric bicycle regulations.
So you don’t need a license. You don’t need a registration or insurance currently to unlock sport mode is for off-road use. Only now this platform can absolutely has the performance and capability of motorcycles, comparable to like say a 110cc bike. So in the future you know to add turn signals horn blinkers. All this kind of stuff, we absolutely plan to offer a registerable version, and there is, for instance, an electric bicycle class, a slightly higher power electric moped class and then the fully unlocked motorcycle class, which is comparable to sport mode. What is the price uh? I have a special price for you today. My question yeah we’re asking 499 for the m1 that comes with economy, mode and sport mode, our standard five hour charger that takes care of the health of all of your cells, smart charger all together and a two year tip to tail warranty.
We want to make sure our customers are totally satisfied. Okay, right! Thank you very much. Absolutely it’s gon na be a shame to see that leave the stage.
It’S a beautiful piece of machinery. .