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Fast, Cheap and In Control: Testing the Market for a New Kind of Car
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Fast, Cheap and In Control: Testing the Market for a New Kind of Car

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Danny Kim, LitMotors, Fast, Cheap and In Control: Testing the Market for a New Kind of Car @ The Lean Startup Conference 12/3/12

Danny Kim, LitMotors, Fast, Cheap and In Control: Testing the Market for a New Kind of Car @ The Lean Startup Conference 12/3/12


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  • 1. Building  a  car  is  hard...  
  • 2. Building  a  car  company  is  harder...  
  • 3. Mass  producing  a  car  is  rela5vely  insane...  
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[,).A.)"@$,=" " @.&%Q.A-%)*&K",B*K&"2"WSTTGTT " i%.=*-E"A$&-)$="2"W_TTGTTT #$.".&"1).AV @$-$AEA=,"N$)= 1N*--,)"C".A,L$$V 9$%-%L,"C"[*;,$ ^*&$N"@,AF.&*B; ^*&"BF*,="N*<,)B !,)$E&.;*AB 3-,,)*&KZ 3,.-BZ" ($$)Z" !A$%B-*A"5&K*&,,)*&K >.=.&A,"=$K*AB " !BB,;L=E"=*&,"2"WXSTGTT 2(,B*K&"O.).;,-,)B 24$&A,<-"3V,-AF" 2(,B*K&"O.).;,-,)B 24$&A,<-"3V,-AF" 23,-"(,B*)," ""#,E&$=B"4$,QQ*A*,&- ^F,,=G"4$&-)$=B !j%B-;,&-"C">,=-B P*&K,B"C"8.-AF"C"8$AVB 2(,A*L.="L,&AF;.)VB 2@$AV"*&-,)*$)";.-,)*.=B" 25B-.L=*BF"L,&AF;.)V".&" 1F),BF$=B"" WaaTGTTT ()*#$%&? " 3%<<=E"AF.*&"".;*&2"WcTe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aGadTGTTT @,-)$<$=*BG 6(G ""5&K*&,,)*&K"3,=,A-*$&"" ""5&K*&,,)*&K"3,=,A-*$&"" ""5&K*&,,)*&K"3,=,A-*$& 2#,*-,).-,"C"#,Q*&, 24!(";$,=*&K 2^$)VB"=*V,";$,= 2(,B*K&"C 2(,B*K&"Q$)"@.*&-.&A,"24!(" 102.03405$%&? 2(,B*K&"Q$)"@.*&-.&A," 2(,B*K&"Q$)"@.*&-.&A," 2(,B*K&"Q$)"@.*&-.&A,"" 24$&B$=*.-,"(,B*K& 23$%)A,"O.)-B 2#,*-,).-,"C"#,Q*&, ""5&K*&,,)*&K"3,=,A-*$&"" ;$,=*&K 24!(";$,=*&K 24!(";$,=*&K 2/),)"<.)-B".&".BB,;L=, 24$&B$=*.-,"(,B*K& 24$&B%=-"!,)$&.%-*AB",H<,)-B"24!(";$,=*&K 2^$)VB"=*V,";$,= 2>%*=".&"1,B- 102.03405$%&? 2^$)VB"=*V,";$,= 23$%)A,"O.)-B 23$%)A,"O.)-B 2($A%;,&-"-$"@.&%Q.A-%), 24$&B$=*.-,"(,B*K& 23$%)A,"<.)-B 24!(";$,=*&K 2#,*-,).-,"C"#,Q*&, 2#,*-,).-,"C"#,Q*&, 2/),)"<.)-B".&".BB,;L=, 2/),)"<.)-B".&".BB,;L=, 23%<<=E"AF.*&" ()*+,"&,N"=*-,).A-%), ()*+,"&,N">=$KB ()*+,"&,N"-$"&,N" 21,B- 2>%*=".&"1,B- 2^$)VB"=*V,";$,= 24$&B$=*.-,"(,B*K& 24$&B$=*.-,"(,B*K& 24$&B$=*.-,"(,B*K& 24$&B$=*.-,"(,B*K& N,B*-,B 67.8405$%%&?% 23%<<=E"AF.*&" 2($A%;,&-"-$"@.&%Q.A-%), 2#,*-,).-,"C"#,Q*&, 2>%*=".&"1,B- 2>%*=".&"1,B- 21,B- 21,B- 2i%$-,"W"Q$)"XTTT"%&*-B 23%<<=E"AF.*&" 24$&B$=*.-,"(,B*K& 2($A%;,&-"-$"@.&%Q.A-%), 67.8405$%%&?% WbTGTTT WSTGTTT 2>%*=".&"1,B- 2($A%;,&-"-$"@.&%Q.A-%), 2($A%;,&-"-$"@.&%Q.A-%), 23%<<=E"AF.*&" 23%<<=E"AF.*&" 2i%$-,"W"Q$)"XTTT"%&*-B 23%<<=E"AF.*&" 2i%$-,"W"Q$)"XTTT"%&*-B 23%<<=E"AF.*&" WXaTGTTT @.-,)*.=B"2"""" "" WbTTGTTT :8;03405$%&? 23%<<=E"AF.*&" 2i%$-,"W"Q$)"XTTT"%&*-B WXTSGTTT WXSTGTTT WcTGTTT @.AF*&*&K"2" "" WSTTGTTT !%-$;$-*+,"C"@$-$)AEA=,"C"D),,&-,AF" WdTTGTTT WbTGTTT :8;03405$%&? 3F$<"),&-"2""" " WXSTGTTT 0-*=*,B"2""""""""""" ""WSTGdTT 6&B%).&A,"2""""" ""W]TGTTT 4$&Q,),&A,B" #,B,)AF"$+,)";.&%Q.A-%)*&K".&"*&" B-.-,".BB,;L=E? >%*=2$%-"2"""""" WcTTGTTT" 90703405$%&? 9#/"3<7%E0-. 90703405$%&? 1$$=B"2"""""""""""" WXTTGTTT 4$,C<),;*-B"2"" WSTTGTTT 8,K.="2"" """"""" W]aXGTTT("/)"5#$%&@ @.)V,-*&K"2"""""" W]TTGTTT"" ("/)"5#$%&@ P%;.&"),B$%)A,BZ " ]"5HA%-*+,B"2",B"WXTTe"f""""W]_TGTTT >).V*&K"C"#,K,& @OD"1,B-*&K #*,"R%.=*-E 4).BF"1,B- >.--,)E"1,B- 5&,)KE";.&.K,;,&- 3%B<,&B*$& !AA,=,).-*$& " ]T"5&K*&,,)B"2",."W`TV"f"WXGcTTGTTT 26,&-*QE",B*K&.-," 26,&-*QE",B*K&.-," 26,&-*QE",B*K&.-," 26,&-*QE",B*K&.-," " ]"(,B*K&,)B"2",."WbTV"f""""""WX]TGTTT >045)"5#$%&@ 26,&-*QE",B*K&.-," 26,&-*QE",B*K&.-," "">,&AF";.)VB 21,B-"E&.;*A"BEB-,;B 3EB-,; "">,&AF";.)VB " ]"!;*&"2",."WbTe"f"" " "WX]TGTTT" "">,&AF";.)VB ""@OD",R%*+,=,&- "">,&AF";.)VB ""$&"-,B-"L," "">,&AF";.)VB 21,B-"E&.;*A"BEB-,;B 21,B-"E&.;*A"BEB-,;B 21,B-"E&.;*A"BEB-,;B 2(,+,=$<,"-,B-*&K";$&*-$)B 21,B-"-*=="Q.*=%),"_Th" 26,&-*QE",B*K&.-," 21,B-"E&.;*A"BEB-,;B 21,B-"E&.;*A"BEB-,;B >045)"5#$%&@ " X"5H<,)-B",."WXSTV"f"" """""""WXSTGTTT ""$&"-,B-"L," ""$&"-,B-"L," ""$&"-,B-"L," 21,B-"-*=="A.=A%=.-," ""A.=A%=.-," "">,&AF";.)VB ""$&"-,B-"L," ""$&"-,B-"L," " X"^,L"(,B*K&,)""f"""" """""""""WSTGTTT 21,B-"-*=="Q.*=%),"_Th" 21,B-"-*=="Q.*=%),"_Th" 21,B-"-*=="Q.*=%),"_Th" "_Th"Q.*=%),"" 2#,%A,"F,.-".&"),Q*&," 21,B-"E&.;*A"BEB-,;B 21,B-"-*=="Q.*=%),"_Th" 21,B-"-*=="Q.*=%),"_Th" " X"5+.&K,=*B-""f"" " " """"" """W_TGTTT !"57=$%&@ ""A.=A%=.-," ""A.=A%=.-," 21F)$N".=="-F),,"*&"-$"."N.== ""$&"-,B-"L," ""A.=A%=.-," ""A.=A%=.-," ""A.=A%=.-," ;.&.K;,&-"BEB-,; 2#,;,E"(,B*K& 2>%*=".&"#,21,B- 2#,.BB,BB"BEB-,;" ";.&.K,";,&- 2#,;,E"(,B*K& 2>%*=".&"#,21,B- 2($A%;,&-".&.=EB*B 2#,;,E"(,B*K& 2>%*=".&"#,21,B- 2)$."-,B- 2>%*=".&"#,21,B- 21,B-"-*=="Q.*=%),"_Th" ""A.=A%=.-," 2#,;,E"(,B*K& 2#,;,E"(,B*K& 2>%*=".&"#,21,B- 2#,;,E"(,B*K& 2>%*=".&"#,21,B- 2#$."-,B- !"57=$%&@ WSGb_XGTTT 2#$."-,B- 25*- 2#$."-,B- 2#$."-,B- 2#$."-,B- +25<*$%&@ 2($A%;,&-"-$"@.&%Q.A-%), 2i%$-,"W"Q$)"XTTT"%&*-B""" 2>%*=".&"#,21,B- 2($A%;,&-"-$"@.&%Q.A-%),""" 2($A%;,&-"-$"@.&%Q.A-%), 2i%$-,"W"Q$)"XTTT"%&*-B""" 23,-"B-.&.)? 2($A%;,&-"-$"@.&%Q.A-%), 2($A%;,&-"-$"@.&%Q.A-%), 2i%$-,"W"Q$)"XTTT"%&*-B""" 2>%*=".&"#,21,B- 2#$."-,B- 2($A%;,&-"-$"@.&%Q.A-%), 2($A%;,&-"-$"@.&%Q.A-%), 2i%$-,"W"Q$)"XTTT"%&*-B""" 2($A%;,&-"-$"@.&%Q.A-%), 2i%$-,"W"Q$)"XTTT"%&*-B""" "25<*$%&@ g 3$%)A,"@*)A$Q.A-$)E WaTTGTTT WSTGTTT WbTGTTT W]TGTTT 2i%$-,"Q$)"XTTT WXTTGTTT WaTGTTT WXTTGTTT 2i%$-,"W"Q$)"XTTT"%&*-B""" 1/1!8"W]G]_SGTTT"g"""" WaGadTGTTT"O)$%A-*$&"3,-"%<"-$$=*&K"*&"03G"4F,&"lF,&"" U!=.;,.Y"" !"#$%&@ WX]TGTTT !"#$%&@ >,-."O)$-$-E<,""">,-."O)$-$-E<,""">,-."O)$-$-E<,""">,-."O)$-$-E<,""">,-."O)$-$-E<,""">,-."O)$-$-E<,"""">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"">,-."O)$-$-E<,""">,-."O)$-$-E<,"" ()/0$%&@ 4$;<=,-,">?/?@? Founder/CEO steps ()/0$%&@ g W]TTGTTTO)*+.-, ]&"5H<.&B*$&"#$%& 16@5 down to CTO or board 4=*,&-B"XT"A=*,&-B"$N&<.E;,&-"$Q"W]TGTTT ()*#$%&@ 1/1!8"f"]TTGTTT" ()*#$%&@ O)$%A-*$&")%&"$Q"XT " 0&*-B"<)*A,"Q$)"WXTTGTTT",." " " " " " " @.-,)*.=BG"!BB,;L=E""WcTGTTT",. #,L%*="]"0&*-B +),)-.$%&@ " D)$BB"O)$Q*-"WXTTGTTT"H"XT"%&*-B"3$="f"WXGTTTGTTT *)B-"<)$-$-E<,"-$"<)*;.)E"6&+,B-$)" +),)-.$%&@ " """"2WcTTGTTT"O)$%A-*$&"A$B-B 5;L$*,"5&,)KE"!%*- """ """""W]TTGTTT"&,-"*&A$;, 102.03405$%&@ W]TTGTTT"XB-"O)$Q*- 102.03405$%&@ O)$%A,"XT"0&*-B 8,.B,"."XTTT"BRQ-" 5;L$*,"5&,)KE"!%*- 67.8405$%&@ 67.8405$%&@ @.)V,-"8$A.-*$&Z" 3F$N)$$;"4%<,)-*&$ 4"#$%& :8;03405$%&@ :8;03405$%&@ WbTGTTTGTTT 3C>.E"!),."d?d";*==*$&"A$;;%-,)B 6&-*.="@.)V,-U%:8;0*.#%K833).05- 90703405$%&@ 90703405$%&@ INCOME DEMOGRAPHIC 8,.B,"-N$"]TTT"BRQ-" W_GSTTGTTTO)*+.-, $150k to $199k 216,959 3F$N)$$;B"*&"3".&"("/)"5#$%&A ("/)"5#$%&A W_GSTTGTTTO%L=*A g $200k or more 246,154 O.=$"!=-$ 463,273 4=*,&-B"XTTT"A=*,&-B"$N&<.E;,&-"$Q"W_STT 1/1!8"f"_GSTTGTTT" TOTAL >045)"5#$%&A g O)$%A-*$&")%&"$Q"XGTTT 0.24% >045)"5#$%&A " 0&*-B"<)*A,"Q$)"WaTGTTT",."g"XTh","-.H"),Q%&"UWaTTTY" " " @.-,)*.=BG"!BB,;L=EG";.)V,-*&K""WXSGTTT",. " " " Required percentage 1F*)"B,)+*A,",.=,)2 " D)$BB"O)$Q*-"WaTGTTT"H"XTTT"%&*-B"3$="f"WaTGTTTGTTT !"57=$%&A !"57=$%&A " " WXG_bcGTTT"3-.)-"%<"<)$-$-E<, O)$%A,"XTTT"0&*-B BF*<B"*&"3?".&"[.==,E " " " WSGTTTGTTT"@.&%Q.A-%)*&K"),Q*&,;,&- " W_GSTTGTTT"O)$%A-*$&"A$B-B 5;L$*,"5&,)KE"!%*- +25<*$%&A " """""WXdG]bcGTTT"1$-.="*&+,B-;,&- "25<*$%&A """ " "2"""WaTGTTTGTTT"&,-"*&A$;, """"2W]_G]d]GTTT 3$%)A,"!BB,;L=E !"#$%&A W]_G]d]GTTT"]&"#$%&"7,-"O)$Q*- " O=.&-"U70@@6Y"" !"#$%&A ()/0$%&A ()/0$%&A (?/?5?"D).&-"$)"6O/" ()*#$%&A ()*#$%&A WX]T2a]T";*==*$& +),)-.$%&A +),)-.$%&A 102.03405$%&A 102.03405$%&A @.)V,-"5H<.&B*$&Z" 67.8405$%&A g WXSTGTTTGTTTO%L=*A 67.8405$%&A 8!G"3,.--=,G" O)$%A,"]TGTTT"0&*-B O)$%A-*$&")%&"$Q"]TGTTT"$N&"<.E;,&-"W_GSTT"<.E;,&-B :8;03405$%&A :8;03405$%&A " 0&*-"<)*A,"Q$)"WdSGTTT",."g"XTh","-.H"),Q%&"UWdSTTY" " _?b";*==*$&"A$;;%-,)B " " " " @.-,)*.=B"m"!BB,;L=E"WXaGSTT",. "("/)"5#$%&B ("/)"5#$%&B " D)$BB"*&A$;,"WdSGTTT"H"]TGTTT"%&*-B"3$="f"WSbTGTTTGTTT " D)$BB"<)$Q*-"f""W_GSTT"H"]TGTTT"%&*-B"3$="f"WXSTGTTTGTTT >045)"5#$%&B " """XSTGTTTGTTT"/+,)F,."" >045)"5#$%&B " ""2WSSTGTTTGTTT"D)$BB " g"WaTTGTTTGTTT"D)$BB"O)$Q*-B " !"57=$%&B !"57=$%&B WaTTGTTTGTTT"d)"#$%&"7,-"O)$Q*- 5;L$*,"5&,)KE"!%*- +25<*$%&B "25<*$%&B
  • 5. May, 10 LIT MOTORS July 11 Task Task !"#$%"#& Task Task June, 10 Task Task July, 10 August 11 Proof of Concept August, 10 Seed Money Chassis Suspension Brakes Steering Seat Windshield Gyroscopic Stability Drivetrain Shop Space Body, Fairings September 11 Powder coat - Materials - Machining - $700 $700 $2000 1/4" aluminum- $600 6061 Dropouts- $100 6061 Cylinder- $100 Disc brakes - Brake rotors - Brake hoses - $700 $300 $300 Steering wheel - Steer Whl mount- Column - $400 $500 $550 Seat - Seat rails - Seat box - $800 $100 $200 Lexan - 6061 Rails - Bending - $1400 $200 $300 Ultracapacitor - $800 Battery - Gyromotor - $400 $600 Siemens Motor - Kelly controller- Lith-ion Battery - $1300 $1700 $2500 Rent x6 - $1200/mo $8,200 Fiber glass - Foam - Epoxy - $700 $1000 $650 $75,000 September, 10 Materials - $36,200 Machining - $10,000 Tools - $500 Shop rent - $8,200 6061 Shock mnt- $120 Fittings - $40 Steering box - $600 Seat belt - $500 Tooling - $500 Drivemotor - $1300 Battery case - $500 Bondo - $120 Engineering - $0 Human resources: Coil-over Shocks- $500 Brake Booster - $200 Linkage - $700 Nuts/bolts - $20 Oven - $500 Optical encoders- $70 Drive Gear - $1500 Design - $1000 October 11 2 Excutives = $8,000 Wheels - $500 Brake pedal - $350 Nuts/bolts - $50 Engineering - $0 Nuts/Bolts - $500 Gyro sensor brd- $300 Drive sprocket - $300 Labor - $2000 Modifications: 3 Engineers - $3000 ea for 6 mth = $54,000 Axles - $200 Machining - $1000 Machining - $2000 Engineering - $0 Gyro mass - $50 Drive controls - $500 CAD - $750 $1620 October, 10 1 Designer - $3000 ea for 6 mth= $18,000 $150,000 Seat mounts Nuts/Bolts- $130 Engineering - $0 Tools - $500 Gyro actuators - $100 Chain - $140 Hinges - $500 Battery mounts Water Jet - $500 Engineering - $0 $3500 Electrical Periph- $300 Mounts - $200 Total = $134,200 November 11 Steering mounts $3190 $3520 $150,000 Coming Feb. 2011 Bending - $200 Machining - $500 Gyro mounts Welding - $150 $4300 Engineering - $0 $6750 November, 10 eMotor mounts Engineering - $0 Controller mounts $9340 December 11 Suspension mounts Firewall panel $3030 Foot pedal mounts Speculated B.O.M. Total $53,430 December, 10 Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept $32,200January 12 $4000 | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | Proof of Concept | January, 11 A Round February 12 Product Development Market Liability: C-1 Scooter Business Plan Technical Risk Safety & Adoption $1,922,805 + $600,000 February, 11 Chassis March 12 Drivetrain Suspension Steering / Controls Body Safety Marketing Community ManufacTIME Vehicle Parameters Gyroscope -Human Factors Envelope Materials - $129,000 Research March, 11 -Weight -Ride height -Measure humans:Drefyus Sketch Drawing -NHTSA standards & metrics Machining - $100,000 Shop rent - $49,000 Building Calculations -Build Sketch envelope Dimension: -Common motorcycle injuries April 12 E. Motors/Generators OUT-SOUCRED -Wheel base -Travel amount Components: -Wheel Size -Height -Identify causes of death Establish Safety parameters Utilities - Insurance - $16,800 $2,000 1st Expansion Round CRUISE ANALYSIS! -Turning radius Spec Gimbal arm April, 11 Build-out - $18,100 E.Motors/Generator Selection Type -Locate Pivot mounts -Bearning Spec Gimbal bearing Spec Gimbal bearing mounts -Length -Window for sequential failure -Chassis Tools - $71,100 Safety Dev - $115,000 Website -A frame Blog, VBlog May 12 -Swing arm Mech. Design Electronics - $59,000 -AC Induction Spec Gimbal arm Bridge -Suspension Legal - $241,000 -AC Synchronous -Spring rate Steering Interface deisgn Spec Electric Motor mounts -Doors May, 11 Marketing - $45,000 Suspension Components June 12 -Stepper DC -Brushless DC electric -Armature, Axle, output, # splines -Design Horiz. Swing arm -Design Steering Mechanics -Human factors -Steering wheel Spec Armature output shaft splines Spec Drive Gear -Crumple zone -Body sub-structure Human resources: 2 Excutives - ea $33K = $66,000 Brand & Identity -Fead back loop. Human factors -Gear sizing, Ratio possibilities discerned -Bearings specified -Axle design -Electronic/mechanical Design Spec Slave gear Spec Drive belt / chain Draw sketch Model Alias Build scale model -Steering wheel -Seat June, 11 6 Engineers - ea $70k = 1 Designers - ea $60k = $420,000 $60,000 Culture: Music videos, -Hub removal and access Spec Cover plate 1 Admin = $50,000 July 12 -Assembly / Disassembly and maintanence Design Phase 1. -Sketch / Iteration Component System Architecture -Servos Spec Cover plate hardware Spec Cover Bearing oil Valve Test FEA aerodynamics Finalized concept in alias -Seat belt System Architecture 3 Experts ea $190k = 1 Web Designer = $360,000 $50,000 Grass Roots Events -Power managment -Servos July, 11 Insider Community -Manufacturing / quote for one Go Full scale in foam. 1 Evangelist = $70,000 -Prototype 4 design in -Control algorithm Spec Flywheel Base Chassis -Power managment and 500 on all parts, (back-ups Draw parting lines and divide in panels cheap material -Mechanical design Spec Flywheel Governor -Control algorithm suppliers sourced) -Group Brainstorm Chassis Characteristics Lay Fiberglass. Total = $1,922,805 -CAD Design August 12 -Receive parts -Build Jig with mounts -FEA -Outsource CNC machining, Electrical Architecture -Component specification CAD Design Sketch / iteration Sketch Materials selected Structure Human factors Cut divisions Chassis mounts decipered and made -Mechanical design August, 11 Membership $100 -Assemble, calibrate. -Purchase Suspension Base Structure Total $2,522,805.00 -Assemble test till failure -Fabricate Receive materials prep Chassis mounts adjusted and Refined Test under load, until it Fails Design Phase 2. Safety September 12 -Protoboard testbed Sketch prototype Build Door panels and Hinges resolved and made -Resolve failure Component placement -v.2. EDIT! -System assemebly Calibrate (file to spec) tolerences Latches and handles sketched Plumbing September, 11 $40,000 -CAD design -Code development. Test under load, until it Fails Windshield molds formed -FEA Battery housing -Calibration -v.2. EDIT! Windshield frame built and installed. -Outsource CNC HVAC $300,000 -Prototype system v.1 Windshield formed October 12 -Assemble Regulations Electronic Controller Apply to mechanical Door window molds formed -Test till Failure. Modularity -Logics, Hardware sourcing Production Design Phase 1 Mechanical Architecture Body Design Mounting points Door windows molded and installed October, 11 -Programming, systems Ar- -Hardware specification Roof, doors lines sealed and gussets -Research & Design test bed Bill of materials -Purchase -Sketch iterations -Build test bed chitecture adusted November 12 Choose production process -Sketch Material selection / purchase / shipping -Develop code -CAD / Fabricate -Design for Maintenance -Build second functional prototype Choose production assembly -Assemble protoype -Build Sketch iterations -Integrate sensors & develop test November, 11 $100,000 -Manufacturing / quote for one and 500 on all parts, (back-ups suppliers sourced) -Intergrate Electronics Prototype test to failure. -Teams Assigned -Designs Assigned $110,000 equipment -Execute test $115,000 December 12 -Troubleshoot -Breadboard Circuits BUILD! -ProtoBoard Circuits -Calibrate -Fullscale Component Placement December, 11 -Assemble prototype, -Complete systems Architecture Edit -Critique Edit -Allocate funding for test group, -CalibrateJanuary 13 -Iteration v2.0 -Find target market. January, 12 Test under load, until it Fails -Redevelop v.2. FEA $150,000 -Design for Maintenance -Organize times to bring group into see -v.2. EDIT! -Manufacturing / quote for one Full-scale C-1 February 13 $230,000 and 500 on all parts, (back-ups sup- pliers sourced) FEA -Make questionnaire. -Get videographer Manufactur -"Finalize" design, Select low-grade Materials -Bring in group record data. -Receive Materials, FEA -Establish metric Feburary, 12 -Build prototype Chassis -Ask for membership fees of $20 Compile parts specifica March 13 -Calibrate -FEA analysis Simluate collison -Calibrate CAD projections with approximate weight per components $45,000 March, 12 -Drive into Wall! after taking pictures April 13 -v.2. EDIT! $200,000 Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha April, 12 Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha Prototype Alpha PrototTIME May 13 Projected B.O.M. B Round 2nd Expansion Round May, 12 $12,000,00 June 13 Vehicle Components June, 12 -Manufacturing Tooling / outsourcing - $1,500,000 Manu. Engineering - $1,500,00 Veracar Model Car and Driver Viral Video sphere Manufacturing design - $500,00 Road and Track Youtube / Vimeo Quality control - $700,000 July 13 Motocycle world Balance logics $440,000 Twitter / Facebook Window Mechanism Wind shield wipers Aerodynamics Steering: Seats: Door: Acoustic Engineering July, 12 Assembly line - $150,00 Cycle World -Establish benchmark and Supply chain admin- $80K -Design Parameters -Concept Sketch -Design Parameters -Set Desired Reynolds Coefficient Wheel, Controls Adjustment / Belts Hinges / Latch / Locks -Decibal benchmarks -Mock interior materials study Thresholds -Prototype Manufacturing process Wired, -Concept Sketch Fast company, -Design Parameters -Human Factors Parameters -Design Parameters -Engineering -V.2 -Engineering Research -Engineeing Research -Compile / Isolate Vehicle -Engineering Research Wired, $4,430,000 August 13 -Concept Sketch -Concept Sketch -Concept Sketch -Design / -Design Engineering Selection Components creating Drag -Design / Engineering Selection Metropolis, Engineering Selection -Design for Maintenance -Concept sketches -Engineering Research -Engineering Research -Engineering Research Engineering Selection -CAD modeling August, 12 ID, -Design / -Design / -Design / -Works like model -Design for Maintenance -CAD modeling -Engineering Research -Design for Maintenance -CAD Engineering Selection Engineering Selection Engineering Selection -Reiterate / Refine -CAD modeling -Works like model -Design / modeling September 13 -Design for Maintance -Design for Maintenance -Design for Maintenance -Consolidate Design -Source Parts -Reiterate / Refine Engineering Selection -Works like model -CAD modeling -CAD modeling -CAD modeling -Build and Test September, 12 -Order parts and assemble -Consolidate Design -Consult Aeronautics experts -Reiterate / Refine -Works like model -Source Parts -Source Parts -Document to Manufacture -Consolidate Design -Source parts -CAD modeling -Consolidate Design -Reiterate / Refine -Order parts and assemble -Order parts and assemble -Supply chain Drive new literature Drive new Blogs -Test -Build and Test -Works like model -Build and Test -Consolidate Design -Consolidate Design -Consolidate Design October 13 -Supply chain -Document to Manufacture -Reiterate / Refine -Document to Manufacture -Build and Test -Test -Test $140,000 -Quote $ for 1000 units -Supply chain -Consolidate Design -Supply chain October, 12 -Document to Manufacture -Supply chain -Supply chain $60,000 $50,000 -Build and Test -Supply chain -Quote $ for 1000 units -Quote $ for 1000 units $80,000 -Document to Manufacture $105,000 Materials - $600,000 Automotive / Motorcycle / Greentech $150,000 -Supply chain -Quote $ for 1000 units November 13 Machining - $500,000 $300,000 $60,000 November, 12 Shop rent - Utilies - Insurance - $150,000 $50,300 $20,000 Conferences Research overseas m domestic assembly. December 13 Dynamic Test December, 12 Build-out - Tools - $800,000 $100,000 Code/premits - $500,000 Legal - $241,000January 14 Marketing - $200,000 January, 13 Human resources: 2 Excutives - ea $100K = $270,000 Braking / Regen MPG Testing Ride quality Crash Test Battery Test Energy management Suspension Acceleration 20 Engineers - ea $90k = $1,800,000 2 Designers - ea $60k = $120,000 February 14 -Identify designated -Identify designated -Identify designated -Identify designated Bench marks -Test dynamic systems System -Identify designated -Identify designated Bench marks 2 Admin - ea $60K = $120,000 Bench marks MPG equivelent Bench marks on test bed Bench marks -Test dynamic systems -Test dynamic systems -Test dynamic systems -Develope testing monitors -Test till failure 70% -Identify designated -Test dynamic systems -Test dynamic systems February, 13 1 Experts ea $150k = $150,000 on test bed on test bed on test bed -Test till calculated calculated Bench marks on test bed on test bed 1 Web Designer = $50,000 -Test till failure 70% -Test till failure 70% -Test till failure 70% 70% failure -Reduce heat and refine man- -Test dynamic systems -Test till failure 70% -Test till failure 70% 1 Evangelist = $70,000 March 14 calculated calculated -Throw all three in to a wall on test bed calculated calculated calculated agment system -Remedy Design -Build and Re-Test -Reassess system manage ment -Remedy Design -Build and Re-Test -Document analysis -Remedy Design -road test -Build and Re-Test -Test till failure 70% calculated -Remedy Design -Remedy Design -Build and Re-Test -Remedy Design -Build and Re-Test March, 13 $5,671,000 Source -Build and Re-Test -Road test + -Road test -Edit -Road test -Road test -Road test April 14 -Document to Manufacture -Build and Re-Test -Document to Manufacture -Set standard. -Document to Manufacture -Build and Re-Test -Document to Manufacture -Document to Manufacture -Quote $ for 1000 units -Document to Manufacture -Quote $ for 1000 units -Document to Manufacture -Quote $ for 1000 units -Road test -Quote $ for 1000 units -Quote $ for 1000 units april, 13 $400,000 $60,000 $20,000 -Document to Manufacture $100,000 $40,000 $100,000 $50,000 TOTAL $2,275,000 + $4,430,000 Production Set up tooling in US, Chen Zhen (Alamed -Quote for 1000 -Quote $ for 1000 units May 14
  • 6. Projected B.O.M. Vehicle Componentsers Aerodynamics Steering: Seats: Door: -Set Desired Reynolds Coefficient Wheel, Controls Adjustment / Belts Hinges / Latch / Lock -Design Parameters -Human Factors Parameters -Design Parameters -Compile / Isolate Vehicle -Concept Sketch -Concept Sketch -Concept Sketchection Components creating Drag -Engineering Research -Engineering Research -Engineering Research -Concept sketches -Design / -Design / -Design / -Engineering Research Engineering Selection Engineering Selection Engineering Selection -Design / -Design for Maintance -Design for Maintenance -Design for Maintenance Engineering Selection -CAD modeling -CAD modeling -CAD modeling -Consult Aeronautics experts -Works like model -Source Parts -Source Parts -CAD modeling -Reiterate / Refine -Order parts and assemble -Order parts and assemble -Works like model -Consolidate Design -Consolidate Design -Consolidate Designure -Reiterate / Refine -Build and Test -Test -Test -Consolidate Design -Document to Manufacture -Supply chain -Supply chain -Build and Test -Supply chain -Quote $ for 1000 units -Quote $ for 1000 units -Document to Manufacture -Supply chain -Quote $ for 1000 units $105,000 $150,000 $300,000 $60,000 Dynamic Test Ride quality Crash Test Battery Test Energy managem
  • 7. Key RisksStarting a vehicle company is difficult… however, getting it right means huge returns for 90-100 years.   Partnerships o  Global distribution timing o  Dealership network franchises o  Joint venture growing pains Marketing o  Technology adoption o  Globally executed marketing campaign o  Developing a strong brand Ford  Model  T  1908  -­‐  1927   o  Creating safety feature awareness o  Crisis communications management 16,500,000  Unit  sales  to  date.   Technology o  Proving technology o  Patent infringement o  Technology theft o  Staying innovative & prolonging product lifecycles o  Safety: Preventing a customer fatality for the first 3-5 years Human resources o  Finding the right team o  Limited funding stalling manufacturing and hiring o  Scaling management for employees at: 30, 100, 400, 1000, 4000, 20,000 Planning o  Proving market interest o  Supply chain / purchase agreements Ford  F  Series  1948  -­‐  2010   o  Final-assembly plant permits and land o  Manufacturing / tooling defects 33,000,000  Unit  sales  to  date.   o  Meeting costs & technology specs at production o  Planning for offices, equipment, and support IT
  • 8. Getting it Right for $780K De-risking an overserved market early with disruptive technology that scales globally.Partnershipso  Global distribution timingo  Dealership network franchiseso  Joint venture growing painsMarketingo  Technology adoptiono  Globally executed marketing campaigno  Developing a strong brando  Creating safety feature awareness Lit  Motors  C-­‐1  2014  -­‐  2084  o  Crisis communications management 340,0000  Unit  sales  2017.  Technologyo  Proving technologyo  Patent infringemento  Technology thefto  Staying innovative & prolonging product lifecycleso  Safety: Preventing a customer fatality for the first 3-5 yearsHuman resourceso  Finding the right teamo  Limited funding stalling manufacturing and hiringo  Scaling management for employees at: 30, 100, 400, 1000, 4000, 20,000Planningo  Proving market interesto  Supply chain / purchase agreements Lit  Motors  C-­‐Series  2016  -­‐  2086  o  Final-assembly plant permits and land 1,000,000  Unit  sales/yr  in  India  &  China  o  Manufacturing / tooling defectso  Meeting costs & technology specs at productiono  Planning for offices, equipment, and support IT
  • 9. Model-T of the 21st Century  
  • 10. Engineering: Vehicle architecture & packaging for component placementDesign: Validated exterior design & user experienceMedia: Generated media interestMarketing: De-risked market liabilities – MVP & 82 pre-orders (8 months)Hiring: Made the product “real” for future employeesFinancing: Fundraising
  • 11. QUALITATIVE MARKET RESEARCHAS OF 07/26/12
  • 12. 2,239 Parts
  • 13. Engineering: Electrical/Mechanical system architecture & full-scale driving prototypeManufacturing: Projected BOM & accurate vehicle weight (IND/CHN)Media: 500% increase in media interestMarketing: Made product “real” for potential consumers & 63 more pre-orders (2 months)Hiring: Top-level engineering & biz dev employeesFinancing: Credibility for institutional fundraising
  • 14. @LitMotors