Edison2

12 Pages Posted: 1 Jun 2017

See all articles by Timothy M. Laseter

Timothy M. Laseter

University of Virginia - Darden School of Business; Emory University - Goizueta Business School; University of Navarra, IESE Business School; London Business School; New York University (NYU) - Leonard N. Stern School of Business

Yaroslav Hetman

University of Virginia - Darden School of Business

Carly McHale

University of Virginia - Darden School of Business

Abstract

The founder and CEO of Edison2 and his internationally renowned team of designers, engineers, and professional race car drivers had worked tirelessly for three years to design and build the Very Light Car (VLC), which won the 2010 X Prize competition. Now the CEO is considering what path Edison2 would follow. The only thing he had decided is that Edison2 should not attempt to become a traditional auto manufacturer, given the large amount of new capital it would require and the likelihood that it would have to compete long-term with the established behemoths in the industry.

Excerpt

UVA-OM-1461

Rev. Apr. 15, 2014

EDISON2

Oliver Kuttner, founder and CEO of Edison2, smiled as he reflected on how far his small company had come. Brought together by their desire to win the Progressive Insurance Automotive X Prize (X Prize), Kuttner and his internationally renowned team of designers, engineers, and professional race car drivers had worked tirelessly for three years to design and build the Very Light Car (VLC), which won the 2010 X Prize competition. After collecting the $ 5 million prize, repaying his investors, and making a small profit, Kuttner now had to decide on Edison2's next move. The only thing Kuttner had decided was that Edison2 should not attempt to become a traditional auto manufacturer, given the large amount of new capital it would require and the likelihood that it would have to compete long-term with the established behemoths in the industry.

Edison2 History

Based in Charlottesville, Virginia, Edison2 was founded in 2007 by Kuttner, a commercial real estate developer and race car enthusiast. In his bid to win the X Prize, Kuttner recruited some of the most respected names in auto racing, who together were responsible for more than 20 victories at Le Mans, Sebring, and Daytona (Exhibit 1). The team got $ 2.7 million in funding from a group of private investors, built four prototypes, and submitted them to the competition for the 2010 X Prize.

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Keywords: Company strategy, sustainability

Suggested Citation

Laseter, Timothy M. and Hetman, Yaroslav and McHale, Carly, Edison2. Darden Case No. UVA-OM-1461, Available at SSRN: https://ssrn.com/abstract=2974975 or http://dx.doi.org/10.2139/ssrn.2974975

Timothy M. Laseter (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

HOME PAGE: http://www.darden.virginia.edu/faculty/laseter.htm

Emory University - Goizueta Business School ( email )

1300 Clifton Road
Atlanta, GA 30322-2722
United States

University of Navarra, IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034
Spain

London Business School ( email )

Sussex Place
Regent's Park
London, London NW1 4SA
United Kingdom

New York University (NYU) - Leonard N. Stern School of Business ( email )

44 West 4th Street
Suite 9-160
New York, NY NY 10012
United States

Yaroslav Hetman

University of Virginia - Darden School of Business

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Carly McHale

University of Virginia - Darden School of Business

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

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