Veo brings seated scooters to the masses
Veo, the leading shared micromobility firm and a provider of e-bikes, pedal bikes, and electric kick scooters, is expanding its horizons by entering the retail market. The company announced the launch of its newest product, the Cosmo X seated, pedal-less scooter, which will be available for purchase across the United States. With this strategic move, Veo aims to tap into the growing demand for personal micromobility solutions while leveraging its existing user base and established reputation in the industry.
Recognizing the challenges faced by competitors in the retail e-bike market, Veo is taking a measured and cautious approach. The company plans to conduct a small pilot program, limiting the initial batch of Cosmo X scooters to 1,000 units in 2023. By doing so, Veo intends to gauge customer interest and validate the viability of its direct-to-consumer (D2C) business model before scaling up production.
Candice Xie, co-founder and CEO of Veo, explained the rationale behind the company’s decision, stating, “The reason why we felt the timing was right and the vehicle was right was because we already have millions of users on our platform and have a very stable, reliable, and popular vehicle type that has served tens of millions of trips already.” This solid foundation gives Veo the confidence to take its first steps into the retail market with a product that has already proven its popularity in shared micromobility programs.
Veo’s cautious approach stands in contrast to the experiences of other players in the industry. Competitor Bird, for example, attempted to sell its own e-bike in the past but ultimately failed to achieve profitability. Similarly, VanMoof, despite the popularity of its bikes, recently filed for bankruptcy. Veo aims to avoid the pitfalls encountered by its predecessors by leveraging its existing infrastructure and learnings from its shared micromobility operations.
One of the key mistakes made by VanMoof was its decision to use custom-made parts instead of off-the-shelf components. This approach led to quality issues and difficulties in providing timely repairs and servicing to customers. Veo, on the other hand, plans to use readily available parts and expand its service and distribution network to ensure that its retail scooters can swiftly address any maintenance needs. By learning from the past and prioritizing a robust post-sales support system, Veo is positioning itself to provide a seamless ownership experience for its customers.
The Cosmo X scooter, Veo’s flagship retail product, boasts a range of features and specifications that set it apart from the competition. Priced at $3,499, the Cosmo X is positioned as a premium offering in the e-scooter market. However, Veo also offers a more affordable option, the Cosmo S vendor version, priced at $2,899, which will be available for shipping in September.
One of the key differentiators of the Cosmo X is its ability to be customized according to the owner’s preferences. Users can choose from a range of vibrant body colors, such as Malibu pink, cosmic blue, or Moondust, as well as various rim colors. Additionally, the scooter has a personalized greeting feature that addresses the owner by name upon activation, allowing users to infuse their own personality into their micromobility experience.
The Cosmo X is designed to deliver exceptional performance and reliability. With a top speed of 17 miles per hour and a range of over 45 miles, the scooter offers a convenient and efficient mode of transportation for urban dwellers. Its 500W motor ensures smooth rides even on hilly terrains, while the waterproof swappable battery provides flexibility and convenience for charging. The Cosmo X also features a mountain bike-inspired suspension system with a coil spring front fork, ensuring a comfortable and stable ride. The 18-inch pneumatic tires, combined with the aluminum alloy frame and front and rear mechanical drum brakes, further enhance the scooter’s durability and safety.
Customers who place a pre-order for the Cosmo X during the initial launch period will receive a complimentary detachable basket and helmet. This offer adds value to the purchase and further incentivizes early adoption of Veo’s retail scooter.
Veo’s foray into the retail market is part of its long-term vision to become a leading player in the micromobility industry. The company plans to use the initial pilot program to gain valuable insights and identify areas for further investment and growth. If the pilot is successful, Veo aims to sell tens of thousands of Cosmo X scooters in the following year, capitalizing on the momentum and demand generated by its initial retail launch.
While the Cosmo X is Veo’s current flagship product, the company is already considering the possibility of introducing additional form factors in the future. By continuously innovating and diversifying its product lineup, Veo aims to cater to the evolving needs and preferences of its customers, strengthening its position as a leader in the micromobility space.
In conclusion, Veo’s entry into the retail market with its Cosmo X seated scooter marks an important milestone in the company’s journey. By leveraging its existing user base, infrastructure, and learnings from its shared micromobility operations, Veo aims to establish a strong presence in the retail e-scooter market. The customization options, performance features, and pre-order benefits of the Cosmo X position it as a compelling choice for urban commuters seeking a reliable and personalized micromobility solution.
As Veo expands its retail business, it remains committed to providing exceptional customer support and post-sales service. By avoiding the quality issues and logistical challenges faced by some of its competitors, Veo strives to deliver a seamless ownership experience and build long-term relationships with its customers.
With its strategic and measured approach, Veo is well-positioned to revolutionize the micromobility landscape and empower individuals to embrace sustainable transportation options. As the demand for personal micromobility solutions continues to grow, Veo’s ambitious vision and commitment to innovation will play a pivotal role in shaping the future of urban mobility.
See first source: TechCrunch
Frequently Asked Questions
1. What is Veo’s Cosmo X seated scooter?
The Cosmo X is Veo’s newest product, a seated, pedal-less electric scooter designed for personal use. It boasts customizable features, performance enhancements, and a range of approximately 45 miles on a single charge.
2. Why is Veo entering the retail market with the Cosmo X?
Veo aims to tap into the growing demand for personal micromobility solutions while leveraging its established reputation in the industry. By offering a premium and customizable scooter, Veo seeks to cater to urban commuters’ needs and preferences, expanding beyond shared micromobility services.
3. How is Veo approaching its entry into the retail market?
Veo is taking a cautious approach by conducting a small pilot program, initially releasing only 1,000 units of the Cosmo X in 2023. This strategy allows Veo to gauge customer interest and validate its direct-to-consumer (D2C) business model before scaling up production.
4. How does Veo plan to differentiate itself from competitors in the retail e-scooter market?
Veo is learning from past industry experiences, avoiding pitfalls encountered by other companies. It plans to use readily available parts for easier servicing, expand its service and distribution network, and prioritize post-sales support to ensure a seamless ownership experience.
5. What are the key features of the Cosmo X scooter?
The Cosmo X offers a range of features, including customizable body and rim colors, personalized greeting upon activation, a top speed of 17 mph, a range of over 45 miles, a 500W motor for hilly terrains, swappable waterproof battery, mountain bike-inspired suspension, and front and rear mechanical drum brakes.
6. What incentives are offered to customers who pre-order the Cosmo X?
Customers who place a pre-order for the Cosmo X during the initial launch period will receive a complimentary detachable basket and helmet, adding value to their purchase and encouraging early adoption.
7. What is Veo’s long-term vision for its retail business?
Veo aims to become a leading player in the micromobility industry. The initial pilot program with the Cosmo X will provide insights for further investment and growth. If successful, Veo plans to sell tens of thousands of Cosmo X scooters in the following year, capitalizing on the momentum generated by its initial retail launch.
8. How does Veo plan to continue innovating and diversifying its product lineup?
While the Cosmo X is its current flagship product, Veo is considering introducing additional form factors in the future. By continuously innovating and diversifying, Veo aims to cater to evolving customer needs and preferences, solidifying its position as a leader in the micromobility space.
9. How does Veo plan to provide exceptional customer support?
Veo aims to provide exceptional customer support by using readily available parts for servicing, expanding its service and distribution network, and prioritizing post-sales assistance. This commitment to a seamless ownership experience sets Veo apart in the industry.
10. How is Veo’s Cosmo X contributing to the future of urban mobility?
Veo’s Cosmo X and its entry into the retail market reflect the company’s ambition to revolutionize urban mobility. By offering customizable, reliable, and innovative micromobility solutions, Veo empowers individuals to embrace sustainable transportation options, shaping the future of urban mobility.
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