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Veer, the San Francisco Bay-based company modernizing light electric vehicles (LEVs), is once again at the forefront of innovation with its latest venture. Building on its previous success, Veer is now offering an exciting opportunity for investors to engage directly with the future of urban mobility through its StartEngine campaign. This initiative aims to accelerate the production, distribution, and adoption of its revolutionary Shift Drive System, which promises to transform LEVs like e-bikes, e-scooters, and e-motorcycles.
Veer offers a wide range of products for all the major motors and hubs on the market, including Bosch, Bafang, Shimano, and Enviolo. Its latest innovation, Shift Drive System, harnesses advanced carbon fiber belt drivetrain technologies with integrated shifting and replaces age-old chain drives and gearbox transmissions. Its built-in gear system allows the utilization of smaller batteries and cheaper motors, reducing costs while maintaining performance.
A Thriving Market: Investment Opportunity in Electric Mobility
The worldwide bicycle market alone is on track to grow to $147.24 billion by 2027, while the electric bike market, valued at $44.9 billion in 2023, is estimated to reach $77.6 billion by 2028. The electric scooter market, estimated at $18.6 billion in 2019, and the electric motorcycle market, slated to reach $40 billion by 2026, further underscore the burgeoning demand for electric vehicles. With impressive sales and a growing market, Veer targets a market size of $240M per year, producing 2 million drives annually.
Customer Feedback and Technological Advancement
Customers have embraced Veer's innovative products, noting the superior longevity and durability of the belt drives compared to traditional chains. The Shift Drive System, in particular, has received massive attention from brands in the industry eagerly awaiting its release. Companies will start to receive their own samples starting May 2024.
New Initiatives and Partnerships
Following successful partnerships with companies like Phatfour and the launch of new product lines at Eurobike, the bike industry’s premier global tradeshow, Veer continues to push the boundaries of technology in LEVs. The company is committed to facilitating the transition to LEVs to help curb climate change by making these vehicles more efficient and affordable.
Proven Success and Future Potential
Veer's previous equity crowdfunding campaign was a resounding success, raising over $914K from 921 investors and resulting in thousands of product sales worldwide. The ongoing StartEngine campaign represents not just a financial investment but a stake in the sustainable transformation of urban transport.
Sean Hacking, founder and chief technical officer of Veer, stated, "The LEV industry is experiencing rapid growth and is prime for fresh innovation. Every LEV using a chain drive is part of our target. We are focused on delivering a more reliable, cost-effective, and safer drivetrain system that aligns with our vision of a sustainable future." Investors are invited to join Veer in this journey to redefine urban mobility and ensure a sustainable future. By investing in Veer's StartEngine campaign, stakeholders can not only expect great returns but also contribute to a cleaner, more efficient, and accessible urban environment.
About Us: Veer, rooted in innovation, seeks to democratize access to belt drives and electric mobility. Their unparalleled next-gen drivetrain solutions position them at the forefront of the LEV industry. Veer's mission goes beyond business – it's about championing the shift towards sustainable, local transportation, and benefiting the environment.
Contact Info:
Name: Katrina Mounivong
Email: Send Email
Organization: Veer Cycle
Website: https://www.veercycle.com/
Release ID: 89128167
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