Report and financials: https://wefunder.com/modvans/reports/2021
SEC Filings: https://www.sec.gov/Archives/edgar/data/0001759058/000167025422000441/0001670254-22-000441-index.htm
Overview
2021 was both our best and most challenging year.
We completed R&D for new models, CV1/M and MH1, and delivered them to customers in 2021. We revealed our /X Series prototype. In early 2022, after a lot of R&D and testing, we just delivered our first CV1/X to a customer. We have CV1/MX and MH1/X orders and will be delivering those to customers in 2022 H1.
We normally order Transit chassis wholesale directly from Ford, but, due to the global chip shortage, we didn't get any wholesale Transits in 2021 - ouch! We scrambled and bought Transits from Ford dealers all over the country. Many items, such as awnings and A/Cs, were very difficult to purchase. We searched, substituted and generally "got it done" to keep production and customer deliveries rolling.
We toured the country, exhibiting at AdventureVanExpo and OverlandExpo shows. We were excited to meet many of our customers and investors at these shows. Come meet us (again) at these shows in 2022!
It was fun and exciting to reveal our /X Series at these shows and demo all our models to customers, investors and potential customers all over the country. We got so much great feedback we are using to guide improvements to our current models and the development of our exciting new EV model.
It has been a ton of hard work to complete all the R&D while growing production and attending shows all over the country. We are proud that we grew revenue and unit production in 2021 and grateful for the help from our investors. We couldn't have done this without you!
2022 is going to be another great year for ModVans!
We need your help!
We are following the plan we shared at our 2021 Investor Day. We now have 6 models (CV1, CV1/X, CV1/M, CV1/MX, MH1 and MH1/X) and big, exciting EV plans.
We are ready to take our next step and expand production capacity as planned to 100 vehicles per month and beyond! We are also ready to reveal our EV plans.
We have a new pitch deck and are actively looking for investors to help us raise $50m to build a big factory in Reno, NV and complete the R&D on our new EV model. Please let us know if you have contacts in VC, PE or other suggestions.
