With passenger electric vehicles (“EVs”) poised to take over the roads over the next few decades, EV makers have been working tirelessly to capture a large segment of the market for themselves. Both electric vehicle startups and legacy automakers have thrown their hats into the race, and for most of them, Tesla is the one to beat. However, the commercial electric vehicle segment, which hasn’t received much attention as passenger vehicles from most carmakers, presents a major opportunity.
Commercial fleets don’t have to worry about most of the problems individual drivers face. For instance, they don’t have to worry about charging as they can all recharge from a central location, that is, wherever the fleets spend the night. And as businesses strive to meet new emissions standards, commercial fleets such as taxis, delivery vans, buses and even trucks will be among the first to be electrified.
A Prescient and Strategic Intelligence report published in December 2018 stated that the revenue generated by the global commercial EV market would double from $144 million in 2017 to $362.7 million by 2025. That represents a 13.3% compound annual growth rate (“CAGR”) from 2018 to 2025. As companies, airports and even cities look to electrify their fleets in the near future, EV startups and automakers that wade into the B2B commercial vehicle space before it becomes saturated are looking at potential major profits. Several startups are already entering this nascent space including Endera.
Endera is a transport technology company that specializes in electric commercial automobiles, infrastructure to charge vehicles and telematics software solutions. The California-based company recently acquired a school-plus-shuttle bus-making company with 250,000 square feet of manufacturing space in Ohio called Metro Titan. The manufacturing plant is located on a 1,000,000-square-foot campus, and it provides Endera with the ability to manufacture and supply tens to hundreds of thousands of commercial electric vehicles to each of the 50 states in the near future, said Endera president Todd Harman.
Endera will make Type A electric shuttle and school buses, as well as paratransit vehicles to serve airports, universities, and the Department of Transport (“DOT”), as well as the health-care plus last-mile delivery industries at its Ohio-based plant. The acquisition also doubled Endera’s employee base, granting the transportation company access to specialized technicians who have many years of experience manufacturing shuttle buses.
According to the company’s founder and CEO John Walsh, it’s all about finding a large niche in a major industry that is evolving or susceptible to disruption. Endera has found its niche, and the fact that it develops a clean product that will benefit the planet puts a smile on his face, Walsh says.
Endera’s push to serve the commercial segment of the electric vehicle market means that other players such as ev Transportation Services Inc., which are already operating in this segment, are onto something that will grow explosively in the coming years.
NOTE TO INVESTORS: The latest news and updates relating to ev Transportation Services Inc. are available in the company’s newsroom at https://ibn.fm/EVTS
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