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In this episode of Decoding Innovation, Scott Colosimo, founder and CEO of LAND Energy, discusses how his company pivoted to making electric bikes.
Scott Colosimo is the founder and CEO of Cleveland CycleWerks, which was making traditional motorcycles in an existing market that had not undergone major changes for more than a century. During the COVID-19 pandemic, he decided to build a new electric prototype: eMoto. The eMotos include electric pedal-less throttle-controlled bicycles, and electric mopeds and motorcycles.
In the first episode of a two-part series, Scott talks about the founding of his new venture, LAND Energy, and how the company managed to navigate the pandemic and post-pandemic landscapes. Further, he describes how his design background helped him finalize the ideal prototypes and how hiring only the A-players in their respective fields improved the dynamics of the new company.
Key takeaways:
- Electrification of motorcycles offers more freedom and benefits, compared with traditional gas motorcycles. It provides the opportunity to tweak the design and move the components.
- One of the biggest mistakes companies make is manufacturing a product without studying the market. It is important to study the market and consumer first, and curate the insights before moving to production.
- With increasing pressure from stakeholders and governments, the transition from gas to electric vehicles is a natural progression.
