Zenvo Automotive is among the most exclusive hypercar brands in the world with its sheer limited production numbers and complete handmade manufacturing process. What’s the brand’s future product strategy? How has been its business in the light of the pandemic?
Hypercars are the most aspirational products in the world of automobiles and the exclusivity in the segment is created by the sheer limited numbers in terms of production and brands that make these cars. While brands like Automobili Lamborghini, Ferrari, Koenigsegg, Pagani Automobili, Porsche have earned respect with their exclusive models that portray dreamy designs and performance, few brands like Zenvo Automotive have taken the game one notch up.
The global hypercar market is expected to grow at a CAGR of 12.5% and is poised to reach $110.3 billion by 2027 as compared to $70.4 billion in 2020.
According to a study, the international hypercars market is expected to grow at a CAGR of 12.5% and is poised to reach $110.3 billion by 2027 as compared to $70.4 billion in 2020. The market is claimed to be driven by an increase in racing events. However, the high cost associated with manufacturing and ownership of the hypercars might challenge growth in this segment. A major trend in the segment would be the use of Artificial Intelligence (AI) for the development of autonomous hypercars.
Autofintechs spoke to Troels Vollertsen, founder of Zenvo Automotive to learn about the exclusivity of the brand, its plan of growth, the impact of the Covid-19 pandemic on its business.
Edited excerpts below.
Q. Amidst so many big brands in the sportscar space, how tough has it for been Zenvo Automotive to make an impression in the industry?
This is a great question. We want to stand out for being an innovative company that looks to the future with an ‘everything is possible’ ethos and a team that always thinks outside of the box. We don’t like to be fenced in by the norms, but rather rethink ways of completing our objectives to create limited-edition hypercars as a team, all here in Denmark. Even if a task isn’t immediately possible we don’t accept no as the first answer, and try everything to make it a possibility.
At Zenvo we create five cars a year, each is made by hand.
Throughout my time working in this industry, I’ve never known it to be as full of innovation. It’s great to see creativity unleashed through engineering, design, manufacturing, production, and our peers using new technologies. That makes our job at Zenvo Automotive even clearer – we need to be ahead of the curve in many ways, not just following what everyone else is doing, but stand on our own and make that impression.
Q. What would you say the USPs of Zenvo Automotive are?
Our USPs are something we’ve worked very hard to define and ensure every team member is aware of.
Firstly, we’re proudly Danish. So, one of our USPs in a way is being the only automotive manufacturer in Denmark. We use our Nordic knowledge to our advantage every day. This leads me nicely on to our second unique selling point. At Zenvo we use an ‘everything is possible’ ethos, which is also strong in our DNA here in Denmark. We use out-of-the-box thinking and engineering solutions, as I explained in the earlier point. The final USP is one I am possibly the most passionate about, which is our class-leading bespoke craftsmanship and manufacturing capabilities.
At Zenvo we create five cars a year, each is made by hand. But not only that, each Zenvo creation is engineered, designed, developed, and created here in our HQ. From our carbon fibre and composite manufacturing to our creation and development of gearboxes and engines, all in Denmark, everything we do must be with class-leading craftsmanship. Each car is signed off by me to ensure we stick to these standards.
In four years’ time, I would expect to see the TSR-series of cars retired, and a new series or two in its place.
Q. Sportscars being the most ambitious products in the auto industry, how has the pandemic dented your business, and how has been the revival path? If you could put it in numbers.
It’s been a tough year for everyone both personally and professionally. I think now we’re coming out of the end of the pandemic we have learned valuable lessons and used this time of reflection to better ourselves and learn to work differently, work smarter and keep pushing. Not that I’ll miss Zoom but I’m excited to get the team together and open our HQ here in Denmark fully, I’m proud to say we’ve all worked collaboratively for future developments and packages for our cars.
We’ve been aware of not overpromising but staying true to our USPs.
Of course, there are negatives and we can’t deny the time away from the factory, test tracks, with customers and at events haven’t impacted our business. I don’t think you can put that in numbers, other than time spent away from the office, and we’re on a path to try and recoup that lost time. Luckily we’ve been preparing for this and feel ready to restart.
Q. There has been a couple of sportscar startups such as De Tomaso, Spyker and DeLorean that weren’t able to make a dent in the industry despite lot of promise. What makes you different from them?
There’s probably a longer list than that but yes, I see your point. It’s always something we’ve been aware of, of not overpromising but also staying true to our USPs. Of course, we’ve made mistakes and continue to do so – we’re only human after all, but I feel that the entire team has a clear understanding of what Zenvo’s here to do, as well as a solid offering for our customers and dealers as they are also key to our success.
Q. Where do you want to see Zenvo Automotive by 2025, in terms of expansion, product portfolio, and business numbers?
So, four years’ time I would expect to see the TSR-series of cars retired, and a new series or two in its place. We’re already working on that and will keep you updated. I would also think we’ll be patenting more engineering developments, working on unlocking new powertrain and performance upgrades, as well as continuing to expand the company in terms of the team and our factory.