Survey: 62 times around the world each year with e-scooters

Company News | Skand | 17.03.2021

E-scooter company Skand Oy surveyd its customers on how much they drive with the company's vehicles each year. The company has opened an EU-wide online store and is seeking sales from new markets.

The Finnish company Skand has produced e-scooters and light electric vehicles for Nordic customers since 2015. In its customer survey, the company found out how much mileage Skand's scooters gather annually. 

64% of respondents said they use their scooter on a daily basis. A typical distance covered in a day was 10km, although many respondents also said they drive as much as over 50km per day. 

The average distance by the respondents was 1,678km, but the median response was a more measured 500km.* Even when the total estimate is based on the median response, it would mean Skand's scooters travel a total of 2.5 million kilometres each year: this is the equivalent of more than 62 global circumferences.

CEO: For some it's a question of green values, others are interested in easy mobility

Skand sells both two-wheel scooters and, aimed at more senior customers, three- and four-wheel models.

“I believe that some consumers are looking for a vehicle that creates less emissions, whereas others are out for an economic option. A thing that's likely important also for our senior customers is ease of mobility and running errands", the company's CEO Miika Utoslahti estimates.

Utoslahti believes the market is now opportune for a player like Skand.

"The attention of the media and markets is focused on electric cars, but we believe that there's great potential also stirring in scooters and mopeds. Many people need a vehicle for short distances and light urban driving in their day-to-day life. For this, a car is an expensive and cumbersome choice, whereas a scooter is within a budget and also fits in that small parking space outside their residential building."

Aiming for a million-euro funding and taking the brand to Europe

"The electrification of traffic is a megatrend. It's been estimated that the global market for all electric vehicles would grow by more than 20% a year till 2027. We've gathered understanding of customer needs in Finland and Sweden. In March, we opened an EU-wide online store and are aiming for new countries", tells Utoslahti.

Skand's share issue reached its €300,000 minimum target just two days after starting its public phase and has already raised more than €624,000 in investments. The issue is closing on 23 March 2021 at 23:59 EET. There's still time to familiarize yourself with the company's investment materials on their pitch page.Visit Skand's pitch page

Important notice: All investments carry a risk of losing capital. Of risks related to its business, Skand mentions in its pitch material for example risks in entering new countries and technological special developments. Invest responsibly and always familiarize yourself with the whole investment material before making an investment decision.

* Skand has sold approximately 5,000 light electric vehicles. In the phone survey, conducted in February 2021, a total of 287 customers answered the question about the distance driven. Based on their answers, an estimate has been calculated of the total distance covered by the company's vehicles.

 

This article is based on a press release published on 15 March 2021, available in Finnish on Invesdor's Cision page.

 

Disclaimer

The information contained herein is not meant to be, and it shall not be interpreted as investment advice or a recommendation and investors must neither accept any offer for, nor acquire, any securities unless they do so on the basis of the information contained in the applicable investment material of a target company. Investing in securities of unlisted companies is associated with high risk.

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