Toronto-based electric car retailer, electric vehicle network (EV Network) has raised its first seed capital from investment firm, EV Angels to make electric car ownership more accessible for everyone.
According to the latest survey by KPMG, nearly 70 per cent of Canadians who plan to buy a new vehicle within the next five years are likely to buy an electric vehicle.
Recognizing the mass market potential available in high-quality pre-owned electric cars, EV Network has created a customer-centric model around private consultations, test drives, and longer rental experiences – providing consumers with the unique opportunity to try out a wide variety of models and earn credit towards the sale of the electric car of their dreams.
A recent study also shows that low-income households could see significantly higher savings than other income groups by replacing at least one vehicle with an EV. This trend is only expected to increase over time.
“Electric cars often surprise customers by how easily they fall in love with them but buying your first electric car can prove to be more challenging than you might expect. Nothing beats taking a fully electric model home to try it for several days while having a team of experts on hand who can answer all your unique questions,” says EV Network president, Darryl Croft.
After closing a first Seed Capital investment of $500,000 with EV Angels Inc., EV Network is furthering its technology-based approach to mass EV adoption by implementing services such as a contactless 24/7 online renting and purchasing experience. EV Network is also looking to expand its presence in Atlantic Canada by charging up its other location in St. John’s, NL.
Following the investment, both EV Angels’ partners Sean and Daniel Hart will join the EV Network board of directors to advise and accelerate the growth of the company. Sean, a long-time EV advocate and technology professional – supporting advocacy groups nationwide through his work as Vice President of EV Society and his founding of the Windsor-Essex Electric Vehicle Association – brings his wealth of applied computer technology to the company. Daniel also adds his rapid growth business acumen to the team having founded, led, and sold a prop-tech company in Dubai in 2017.
“Daniel and I are excited to join the team at EV Network and help accelerate the transition to electric car ownership. EV Network brings a unique approach which gives consumers the confidence they need to make the switch to electric,” says Sean Hart, who will take on the role of VP, Systems Development.
Building on growing environmental consciousness, an increased market share of electric vehicles, and an emphasis on a customizable consumer experience, EV Network is set to be a true innovator in the next chapter of the Canadian automotive industry.