ZENN Motor Company is a Canadian based car company who had created lead acid battery operated cars that could easy be used for short distance driving. The company obtained its Zero Emissions No Noise car company, which is also where the company name came from.
Name Change to EEStor Corporation
A special meeting took place early April of 2015 to change the company name to EEStor. The name better reflects the purpose of the company and what their goals are going forward. The shareholders of the company approved the new name and plan to carry it high with future developments.
Probyn Gayle and Ian Warunkiewicz are the original founders of Feel Good Cars, which was also an electric car company. However, the name was changed to ZENN Motor Company before they started experimenting with electric car components and building prototypes. Their first project involved a Renault Dauphine that came with an internal combustion engine. The team at ZENN Motor stripped the car of its engine and replaced it with lead acid batteries along with electric motors. The prototype went on display at the Toronto International Show in 2001. After the show, the company started using smaller cars, which didn’t have much weight to them and set their eyes on the Microcar. The company started with 10 of these cars with lead batteries and elect motors after buying the originally diesel engine cars without any engines installed. The goal with these cars were to provide the first electric neighbourhood car that can travel short distances.
ZENN Motors went on to sign a deal with well-known company EEStor in 2004, which involved EEStor looking to produce ultra-capacitors that could be used to replace batteries and change various things within the electric car industry. The company had a goal to become to header in edge electrical energy and many other related technologies. Further investments in EEStor came from KPCB, which involved 20% ownership of the company for a $3 million investment. Since EEStor was private, the investment from KPCB opened the door to many other investment opportunities for the public. This also included ZENN with a $2.5 million investment to acquire 3.8% of ownership in EEStor by 2007. This also allowed the car company to receive parts required for the prototype cars ever since.
The electric car
The first production car created by the company was the ZENN LSV (Low Speed Vehicle). The car was designed for the U.S. and Canada where owners had the ability to drive on roads with a speed limit less than 35MPH. The car was governed at a top speed of 25MPH (40km/h). Marketing began late 2006 to the American market, which produced a total of 600 units sold in the U.S. and Quebec, Canada.
The company receive more orders in 2008 and 2009, which brought in a total of $34 million from stock offers. In accordance with their 2007 agreement the company paid EEStor $10 million and now owns a total of 10.7% of EEStor.
Over the 2009 and 2010 period the company stopped all production of the electric car and shifted focus to their investments in EEStor along with the rights they had in the company. No clear reason has been made public as to why the production has ended, but stockholders say only marketing has stopped for the time being.