Ann Arbor-area startup Current Motor begins electric scooter fleet sales in South America

Electric scooters made by Pittsfield Township-based Current Motor Co. are gaining popularity in South America, where the company has focused on expanding its sales base, according to a report in Concentrate Media.

Four years after assembling its first scooter, and nearly one year after closing a $2.4 million Series A funding round, Current Motor is now beginning to sell fleets of their all-electric vehicles. The fleet sales will begin in South America, where the company believes they have a competitive advantage over the two-stroke gas engines used in millions of scooters across the continent.

According to the report in Concentrate, the company is attempting to hit a “break-even point” by selling 500 scooters in the next year in South America and the United States. The company has a team of 12 people and is looking to raise a Series B round between $5 million and $10 million in early 2014.

Read the story from Concentrate.

Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2.