Most people will tell you that EVs are still too expensive, but what if there were no upfront costs at all?
Enter Helixx Technologies. It has started taking registrations in Southeast Asia for its electric car and van subscription service. Set at the wildly attractive price of $6 per day with no up front fees and nothing else to pay (including insurance and maintenance) ... just add your own electricity. With a range of 124 miles, the vehicle comes with swappable batteries, so no worries about queuing for electricity.
This all makes for a very compelling proposition in comparison to the current car "ownership model" that is responsible for the 1.5 billion cars currently circulating on the planet. Helixx intends to thoroughly disrupt this ownership model.
Earth has nine billion people and 1.5 billion motorised vehicles in circulation, so while the ownership model has been good to the world's most advanced economies, it is probably not as widespread as you might have thought. In America, only 8 percent of households don't have a car. There are 50 countries in the world where only 8 percent of households do have a car, and where it is still an aspirational dream to have the freedom that powered personal mobility brings.
It's not hard to see how Helixx’s business model could bring disruptive innovation to one of the world's largest industries by achieving its intended purpose of empowering under-privileged communities access to greater mobility. And this is not just an idea, it's happening.
Sometime early in 2025, we'll be able to see this grand scheme in action when the Singapore facility begins producing cars, utes, vans and tuk-tuks. If all goes to plan, the people currently signing up to indicate interest in becoming the scheme's first customers, will have their vehicles in roughly a year from now.
As you might expect, the vehicles are modest by developed-world standards, but they are built to be perfectly fit for purpose. The aim is to provide cost-efficient transport options for people who don't want or can't afford the up-fronts of the vehicle ownership model and who don't need a car that does more than 50 mph. Indeed, why do we ever need cars that can go much faster than the speed limit?
Helixx is unlikely to reach America or Europe with its current vehicles. Helixx is aiming its subscription model at developing countries where vehicles have traditionally been imported and expensive. But who knows what other market entrant will upgrade this disruptive subscription service model and start offering it in America or Europe...?