Spowers is an Oxford graduate, who left motorsport racing because he was concerned about the effect it had on the environment.
He went on to create LIFEcar, a sports car that runs on hydrogen fuel.
He has started a company- Riversimple- that's looking to revolutionize the automotive industry.
I attended a talk given by him at the
His company is building cars based on fuel cells- which is great, but not a novel concept.
What's different about Riversimple is the way they plan to do business.
They plan to lease their cars instead of selling them- and believe this is the best way to have a sustainable business.
He explained that in this business model the cars will be cheaper for the customer, that the company would have an interest in maintaining the car in perfect working condition, and would be able to enter the second hand sale market of cars- which he stated was bigger than the market for new cars.
Spowers feels that this encourages recycling, and promotes a much better relationship between suppliers, consumers and the company.
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