DISCLAIMER: I am not a financial expert nor am I telling you what to invest in. I am just a blogger that is sharing my thoughts on the electric vehicle industry, where I predict it’s going and why I like Hevo Power as a business. All investments stand the risk of losing value. It is up to the individual investor to do their own research. Do not rely on the below for investment activities because I am, again, just a blogger. Please consult a qualified investment professional before making any investment decisions.
One of my best friends who has a keen eye for making money move presented me with an opportunity to invest in Hevo Power, a company that created a wireless charging ecosystem for electric vehicles. I had a chance to hop on a Zoom call with the Founder and CEO of Hevo Power Jeremy McCool (maintaining social distancing by a good 1,800 miles) and I immediately wanted to double down on my investment. Before we get into what Hevo Power is and why I invested, quick history about me.
My Career In Investing
Few things make me angrier than seeing a 19-year-old on Instagram posting pictures about the expensive clothes they want when they aren’t even making money yet. Yes, everyone is entitled to having their own goals, but it would be a much wiser investment to purchase Apple shares that will most likely appreciate in value than expensive clothing that will almost always immediately depreciate and lose value (except for Yeezys, if you never wear them of course).
A lot of people always ask me what I did to be able to achieve freedom at a relatively young age. The answer is I invested in companies like Facebook and Apple starting in 2012. Looking back, I should have invested earlier, but the money that I did has multiplied a few times over giving me a degree of financial freedom and peace of mind. Also, when you move to a developing country like Thailand, you instantly multiply your net worth because of the difference in the local currency value. A 1 hour massage in Thailand cost $7 USD and you can eat a delicious organic meal for $2 USD.
I’m comfortable making investments, understanding that every investment means with risk and reward. It’s up to the individual investor to determine how much risk they’re willing to accept and what their timelines are and proceed accordingly. I personally have a high risk threshold.
My Opinion On The Electric Vehicle Industry
I think electric vehicles are awesome. Especially self-driving ones. Like what the f. This was science fiction Jetsons-type stuff until recently thanks to our real life Tony Stark (Elon Musk). It’s time our society shifted in a greener direction. The less gas we use as a society, the less air pollution from exhaust emissions we’ll create.
I was on the verge of buying a Tesla. I would say I was on the 10 yard line. But I got a Honda instead. It may make me seem like a bit of a hypocrite that I believe in the future of electric vehicles (to the point that I’m investing in the space) yet I recently purchased a non-electric Honda Coupe but hear me out.
When you own an electric vehicle, you always need to factor in the locations of charging stations and setting aside up to 8 hours for a full charge. As someone who lives a very spontaneous lifestyle and doesn’t have a consistent home, I need the convenience of gas stations. There are locations everywhere and filling up a full tank of gas takes minutes, not hours. In the future when I’m more “settled down,” I’ll have access to a charging station in my garage.
The good news is that there currently over 20,000 charging stations in America with more than 68,000 connectors (as of Q2 2019) and this number is continuing to grow. The current charging stations make your car look like a giant iPhone. Swap the USB for a charging cable and your car is basically a phone. But Hevo Power changes this completely.
Why Did I Invest In Hevo Power
The Founder and CEO Jeremy McCool lives up to his name. Hevo Power uses very sexy and cool (or in this case, McCool) wireless charging technology. Instead of plugging a giant cable into your car, you align your electric vehicle on top of the Hevo pad, and the wireless receiver that’s mounted underneath your car will absorb the wireless power and transmit it to the battery via the rectifier. The diagram below explains it best.
Another really cool feature that I like about Hevo Power is that the entire ecosystem is connected through an app. Yes there’s an app for that! With the tap of a button, you can use your mobile device to charge your car, find locations and lots of other data to optimize vehicle performance. And a feature that I really liked was that it shows you the exact percentage of your battery just like an iPhone. The reason why Hevo Power can do this is because the charging station, your vehicle and the app communicate with each other seamlessly.
The Hevo Power mats themselves are also very sexy devices. They can be embedded into the ground making them look like manhole covers. Jeremy gave me a virtual demonstration of the new prototypes from his garage where he has one installed, and it’s an absolute beauty. Let’s just say the advertiser in me was salivating.
I’ve already decided that the next car I get in 2023 is going to be an electric vehicle as society is going to continue to trend in that direction. With more charging stations, more connectors, and faster charging speeds, electric vehicles are going to become as convenient as traditional vehicles.
I envision every hotel in America to have charging stations, hopefully of which many are Hevo Power. Those that don’t will be left in the dust. So whether I continue living this nomadic lifestyle or if I go in the direction of becoming a family man (without getting married, of course), an electric vehicle will seamlessly fit into my lifestyle, just as Hevo Power mats seamlessly fit into the ground. How’s that for an analogy?