Hi everyone! CEO of VEER, Sean Hacking here.
We recently held an exclusive webinar for our supporters and investors related to our growth strategy! In case you missed it, we’ve provided a link to our webinar recording for you to watch at your earliest convenience.
We go into a lot of detail covering how we plan on implementing the steps needed to scale including refining our operations and methodologies. In today’s investor article, I am going to highlight some of the high-level questions that were discussed during the event. Be sure to watch the whole webinar if you are interested in the nitty gritty of what our plans are.
What are Your Plans for Making Veer a Multi-Million Dollar Company?
“In order to bring it to the next level as far as multi million dollars of revenue per year, there's really four key areas that we're focusing on. One of them is this OEM channel, so selling to the manufacturers directly and really scaling that operation. The next thing is really tooling up for high volume production by building out machinery, equipment, and manufacturing processes to get us to the next level of scale. Next, we have developed key partnerships with other industry players that already have market penetration and established sales channels. That's really critical to our growth strategy. And then really refining our operations and processes and methodology that allow us to become a larger company. ”
Who are Your Competitors?
“As far as the comparable type competitive landscape, you really only have one other company that can produce this kind of technology, Gates Corporation. They have a line of products for bicycles and light electric. It can confer at first similar benefits to what we're doing, but really we have a huge advantage when it comes to actually ease of integration on vehicles. Our drive can drop right in on any kind of vehicle design with very little changes or redesign. Their products you have to follow their whole design guidelines ”
Where are Veer’s Parts Manufactured?
“We have supplier layers in Europe, Asia, and the US. We don't outsource everything. We do have some production right here just North of San Francisco, in our facility. But really the most critical components we do ourselves, or the most critical processes, you might say, in order to control the quality. And then we source from multiple places depending on the level of quality and pricing that we need.”
Do you Anticipate Existing Supply Chain Issues?
“It seems like everything in the world right now is having challenges. Yeah, it does affect us. Basically what we're doing to mitigate that is multiple sourcing, holding higher levels of inventory, so that we can actually pull from stock that we have in the US. And then, better production planning and improving our production processes. We’re basically getting the capacity up so we can front load a bunch of inventory, build it up, and make sure we're not really in danger of having troubles when the inevitable supply chain issues hit.”
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