If you’re a San Francisco-based electric car battery replacement company, the chances are in your favor. Other businesses are attempting to establish a business model for replacing worn batteries with new ones to address the issue of lengthy EV charging times. Fourteen years have passed since a more favorable environment. Ample’s has raised roughly $1 billion to carry out the same activities as Ample and has declared bankruptcy.
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This occurred over a decade ago when electric vehicles (EVs) weren’t technologically sophisticated enough or evolved enough to make the business model work.
It didn’t deter John DeSouza, a co-founder of Ample, from continuing. When the Ethiopian Civil War started in the 1970s, his family, which consisted of a Greek / Ethiopian mother and a Portuguese / Indian father, found a means to send him and his siblings to school despite their affluent circumstances. I’ve relocated to Dubai. After arriving in the United States, de Souza completed high school and then moved to the United States at 16 to pursue a full scholarship to attend college there.
Ample’s entrepreneurial career has led him to found numerous successful businesses, including finance firm Smartleaf, internet venture Flash Communications, and consumer health platform MedHelp. He now serves as CTO with current co-founder Khaled Hassunah. As immigrants themselves, de Souza and Hassounah credit de Souza for instilling a creative and enterprising attitude that they have been able to replicate.
Because many individuals could still see Better Place burning, the shares sold in less than five minutes after being on the market; however, de Souza and Hassounah attempted to circumvent the plug-in charging restriction by charging their phones instead. Ample’s total amount raised exceeded $ 275 million.
Ample, which is linked with Sally and Japanese oil and energy businesses Uber and Eneos, is an electric vehicle rental company that offers ride-hailing, taxi services, and last-mile deliveries to customers. An Ample deal with Fleet, which enables the company’s battery chemistry-agnostic modular battery packs to be swapped out with any vehicle, is the key to the company’s entry into the market.
We now have seven switching stations in the Bay Area, which is more than enough for the number of Uber drivers and participants that need to use them. It is expected to be used throughout Europe, beginning with the World Cup in Madrid the following year. The COVID-19 border limitations have prompted Ample to commence building stations in Japan later this year as a reaction to the restrictions.
The advantages of Ample’s B2B market growth tactics, creating a joyful and productive company culture, and what is required following the assumption that most people do not work were all discussed with de Souza during our interview. The following interview is part of a series with the firm’s founders that is now forming the shipping company. It has been modified for length and clarity.
You have a proven track record of launching several firms in various industries, including communications, finance, health technology, and now EV battery replacement. Do you intend to continue with Ample in the face of multiple acquisitions in the last several years? Alternatively, are you already planning your next entrepreneurial venture?
Ample’s not the only one, as it turns out. Because I have a co-founder, you need to be on the same page with what you’re trying to do. For starters, I strongly advise any new entrepreneurs to do it with a partner rather than by themselves; it is far more efficient that way. While it is simple to become friends with individuals you have worked with, it is much more challenging to work with friends since you may not have been friends for a lengthy period. However, once we get into this, I don’t believe we will be thinking about how to get out. You go into it to understand that it would be a long journey, but you also anticipate it to be a fantastic experience.
Making anything requires time and effort. You have to go through the process, and as long as you add value, you are eager to see the results of your actions come true. If you delve into it only for the sake of creating and selling something rapidly, it’s not nearly as much pleasure, and I believe this is mirrored in the corporate culture. People spend a lot of time at their jobs. Therefore it’s important that they like their time there. So if you work for a corporation that enjoys Fridays and despises Mondays, you are working for the wrong company. It’s time to move on from this situation.
As far as I can tell, there is no competition in the EV exchanging market. If no one else is attempting to tackle the issue, it is possible that this is not a wise decision.
Ample’s co-founder and I came up with the notion of accomplishing something that is wildly implausible but achievable. All that remains is for you to identify a possible route. If everyone agrees that “this will happen,” it’s too late for us to do something about it. We understand that the moment is correct and that there may be a solution, but most people believe that this will never work. The fact that it is in a sector with a low possibility of success does not deter us since it is the area in which we are most comfortable and confident.
BetterPlace attempted but failed miserably. What makes you believe your firm will be successful?
Our study on electric automobiles led us to conclude that they had been around for almost a century before we began this project. When people switched from electricity to gas, everyone built a particular battery for each automobile type. However, gas can be used in any car, making it very handy. So I’m now driving electric vehicles and encouraging others to switch from very handy to extremely uncomfortable modes of transportation.