You’d be hard-pressed to find anyone who disagrees with the notion that the future of vehicles is electric.
All you need to do is look around: we’re currently smack-bang in the middle of the EV revolution. And early investors in the likes of Tesla have made fortunes riding this wave.
But just like there’s more than one way to get from point A to point B, there’s more than one strategy for electric vehicle space.
While companies like Rivian and Nikola (LOL) spend billions attempting to create mass markets, our pick today is taking a differentiated approach: EV Technology Group Ltd. (EVT).
The EV revolution is driven by the desire for a greener, cleaner world.
There’s nothing wrong with that—in fact, it’s great. And companies like Tesla and Nio have given their investors impressive returns.
The problem is that somewhere along the line in the effort to create the most efficient vehicles for mass markets, the fun was sucked out of cars and they all started looking the same.
EVT’s mission is to bring back the visceral pleasure of driving a unique car with character, personality, and style—and of course, provide a differentiated vehicle for investors to ride the next big EV wave on.
The company takes a page out of Louis Vuitton (LVMH)’s playbook by targeting the dormant equity that exists in iconic car brands rather than trying to make a new brand from scratch.
In short, they’re looking for “sleeping beauties” to revive: iconic brands that still retain their cult followings, nostalgia, and heritage, even though some are no longer actively manufacturing.
EVT’s business model is to acquire these iconic brands and “electrify” them by leveraging a few key strategic advantages.
The company’s common EV architecture will be used across multiple vehicles which will allow for a faster time to market.
Thanks to this common architecture, common components will aggregate purchasing power to reduce the cost of production as well as limit delays. And EVT will have a differentiated, high margin product suite of TVs with a large moat.
Of course, this all requires deep expertise in engineering, design, manufacturing, and marketing, all of which the EVT team has in spades—a result of decades of experience.
The MOKE brand embodies everything EVT is looking for in a “sleeping beauty”: existing heritage, character, personality, nostalgia, and style.
The time-tested, iconic brand is still beloved across the most exclusive beach towns all over the world from the Caribbean to the South of France, which helps clear the path for marketing and distribution. Celebrities have already been clambering to get their orders in!
The brand also represents EVT’s first acquisition.
The company invested in MOKE International in 2021 and has been helping them “go electric”, with the first vehicle due this summer.
A blast from the past with an EV twist, the new vehicle will target 95% sustainable/recyclable material and reduce “cradle-to-gate” CO2 footprint by up to 75%.
With a top speed of 80km/h and a range of 120km, the first Electric MOKE came off production lines last month and is currently undergoing homologation testing requirements in Spain.
And remember how we said the MOKE brand was time-tested? EVTG has already sold half a million euros in orders after just one (initial pilot) direct-to-consumer sales offering and has brought the vehicle to the Cannes Film Festival.
EVT owns 100% of MOKE France, the company’s flagship store in St. Tropez, and a distribution epicenter from where it will expand across the world to the US, Greece, Italy, and Spain (to name a few destinations).
Better news yet, you don’t even have to own a MOKE to have a slice of the pie as MOKE France has set up a monthly subscription model! That means the next time you’re on a jaunt to the French Riviera, don’t forget to add a coastal cruise in an Electric MOKE to your itinerary.
The top priority for EVT is acquiring a tier-one manufacturing and supply chain to bring all core manufacturing processes in-house.
This will allow them to go from ideation to scale production quickly, reducing time to market while simultaneously lowering capital expenditures.
The company’s strategic plan is to develop business lines to complement core operations and unlock value from its brands.
A Strategic Brands group would include IP and distribution rights to its iconic brands.
An Advanced Engineering and Manufacturing division will leverage state-of-the-art facilities and expertise to operate advanced component and vehicle scale manufacturing with deep supply chain integration.
Distribution and Experiences would start with MOKE France and dealership rights in France before scaling globally using a direct-to-consumer (D2C) model to maintain high margins and improve scalability. The company is also taking lessons from D2C giants like Apple to add in subscriptions.
This year, EVT intends to develop a prototype EV architecture from which it hopes to produce an EV sportscar brand by 2023.
It also expects to grow its brand portfolio across new vehicle categories (including luxury commercial, high-performance sports cars and SUVs, and light-weight sports cars), while continuing to scale production through its EV architecture.
As we noted at the top, we’re smack in the middle of the EV revolution, which itself is reaching an inflection point.
In other words: you may have missed out on the earlier opportunities in the space, like Tesla, but there’s no reason for you to miss out on the next (bigger) wave.
Eleven million EVs are expected to be sold annually in 2025 and 28 million by 2030—that’s good for a +34% CAGR.
Judging by the designs of most EVs introduced over the last several years, that’s going to be A LOT of cars that basically look the same.
EVT is an opportunity to own a high-margin, differentiated product suite with an enduring moat that leverages the hard-won reputation and customer loyalty of iconic car brands to bring them into the electric age.
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