Jason Marks, Co-founder and CEO of TELO, shares insights on crafting electric pickup trucks tailored for urban settings. He discusses why now is the perfect time for EV innovation, revealing the urge to build smaller, practical trucks amidst increasing urban congestion. Marks delves into the history of oversized pickups and the challenges legacy manufacturers face. He also touches on the contrasting electric vehicle landscapes in the US and China, emphasizing TELO’s unique approach in a rapidly evolving market. Prepare for an enlightening discussion on the future of urban mobility!
TELO is revolutionizing urban mobility by creating compact electric pickup trucks that are tailored for city driving and practical use.
Jason Marks' extensive automotive background uniquely positions TELO to innovate in the electric vehicle sector by addressing overlooked urban transportation needs.
The increasing size of traditional pickups over the years has created a market gap that TELO aims to fill with efficient, smaller trucks.
Deep dives
Purpose-Built Urban Trucks
A focus on creating electric pickup trucks that are specifically designed for urban environments is central to Tello's mission. These trucks, which will be the size of a Mini Cooper but with the functionality of much larger vehicles, cater to weekend adventurers and businesses needing practical transportation solutions in cities. The intention is to alleviate the issues associated with driving oversized trucks through traffic and finding parking in dense urban areas. By understanding the needs of city dwellers, Tello is addressing a noticeable gap in the truck market that has largely been neglected by existing manufacturers.
Jason Marks's Automotive Background
Jason Marks's lifelong passion for the automotive industry began in childhood and shaped his career trajectory. He gained experience in autonomous vehicle technologies while developing safety systems for key automakers, building a strong foundation in both mechanical engineering and vehicle safety. His partnership with Forrest, Tello's CTO, draws from their combined experiences, including Forrest's work on early electric vehicles and battery technology. This background laid the groundwork for Tello's innovative approach to designing smaller, purpose-driven trucks for city use.
The Shift in Truck Sizes
The dramatic increase in pickup truck sizes over the past 15 years can be attributed to regulatory changes and industry practices that prioritize larger vehicles. Since the EPA regulations exempted trucks from certain fuel consumption standards, manufacturers often responded by producing bigger trucks, which could burn more fuel while still being compliant. This trend has resulted in vehicles that are now excessively large, making them difficult for everyday urban use. Tello aims to counter this trend by creating smaller electric trucks that retain the utility of traditional pickups, without the drawbacks of size.
Challenges with the EV Landscape
The current electric vehicle market is characterized by significant challenges, including high competition and technical hurdles faced by new entrants. Despite the popularity of EVs, maintaining competitive production costs and meeting regulatory requirements has proven difficult for many startups, leading to a wave of failures in the sector. Tello differentiates itself by focusing on a unique market niche while ensuring efficient manufacturing and design processes that reduce costs. By leveraging space-efficient battery technology and adhering to strict safety regulations, Tello is positioned to succeed in the evolving automotive landscape.
Future Growth and Market Opportunities
Tello envisions expanding its product offerings beyond the initial urban pickup trucks to include a wider range of smaller vehicles designed for city transport needs. Capitalizing on the growing demand for efficient, effective urban vehicles, Tello aims to adapt its technology for diverse applications, including commercial fleets. The company's strategic approach emphasizes flexibility and innovation in addressing urban mobility challenges. By fostering early customer engagements and partnerships, Tello is poised to capture a significant share of the emerging small electric vehicle market.
Jason Marks is the Co-founder and CEO at TELO. TELO is developing EV pickup trucks in the footprint of a Mini Cooper with a bed the size of a Toyota Tacoma and the power of a mainstream truck.
They're focused on urban use cases for pickup trucks, whether that be a weekend adventurer who lives in a city or an organization whose employees need trucks for work in urban environments but are fed up with navigating giant vehicles through traffic, parking, and underground lots.
We were eager to hear Jason’s perspective on why now is the right time to build an electric vehicle from the ground up, what makes TELO’s approach uniquely positioned for a significant market opportunity, and why existing truck manufacturers haven’t pursued this segment. Plus, we dive into the fascinating history of why today’s pickup trucks have become so massive in the first place.
MCJ is proud to support TELO as an investor through our venture capital fund, backing founders like Jason who are reshaping industries to be cleaner, more profitable, and more resilient.
In this episode, we cover:
[2:26] Jason's background in automotive
[4:37] An overview of TELO and its purpose
[6:13] How pickups have grown significantly larger over the past 15-20 years
[11:15] The current EV truck market
[12:47] Truck density in urban environments and challenges
[15:51] TELO's approach to building EV an pickup
[17:58] China's EV phenomenon and landscape
[23:08] Current US EV market
[24:51] TELO's unique approach to EV pickups
[28:09] The company's battery chemistry
[29:49] TELO's progress to date
[32:05] Big milestones Jason and his team are working towards including homologation
[35:59] TELO's go to market
[38:20] Jason's vision for the future of his business
[39:24] TELO's latest Seed Round led by Neo
[41:08] Where TELO needs help
[41:44] Biggest surprises in building a vehicle company
Episode recorded on Oct 4, 2024 (Published on Nov 21, 2024)
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