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News

Automotive investment expert joins Carbon Motors

Carbon Motors : 19 June, 2008  (Company News)
Investment banking expertise hired onto Carbon Motors board to oversee financial investments into the development of America's first purpose built police vehicle
Carbon Motors has announced that Andrew Savarie, a seasoned veteran within the automotive investment banking sector, has joined the company to focus on capital formation and corporate development strategies as executive vice president and chief strategy officer.

Carbon Motors is a new American automotive and homeland security company that is developing the world's first purpose-built law enforcement vehicle - the Carbon E7. The E7 is being designed as a more reliable, durable and cost-effective high-performance vehicle, developed with the direct input of law enforcement officers.

The addition of Savarie to the company's executive team brings one of the automotive industry's most prominent leaders in investment banking, corporate financing and business development to help steer the E7's progress from design to production to ultimate adoption by the law enforcement community.

"As a vehicle designed specifically to meet the needs of law enforcement and homeland security in the post-9/11 world, the Carbon E7 represents a revolution in law enforcement technology," said William Santana Li, chairman and chief executive officer of Carbon Motors Corporation. "With Mr Savarie's extensive experience working with the automotive industry to develop financing strategies and nurture new business opportunities, he will play a critical role in bringing the E7 to law enforcement agencies across the nation. We are pleased to welcome him to the Carbon Motors leadership team."

Savarie brings nearly 15 years of advisory and financing experience within the automotive OEM and Tier 1 supply base. He comes to Carbon Motors from Bear, Stearns and Co, where he was a senior managing director for investment banking in the General Industrial Group in Chicago and headed the company's automotive practice. Previously, Savarie served as managing director for investment banking in the General Industrial Group at Banc of America Securities, where he headed the company's Global Automotive and Transportation Equipment Group. In addition, he previously held the position of executive director in investment banking and co-head of the global automotive practice at Morgan Stanley.

"Carbon Motors is developing this critical new homeland security platform by incorporating advanced yet proven vehicle and security technologies into a purpose-built product design that will provide dramatic improvements in performance for law enforcement. In addition, the company plans to bring this revolutionary new product to its customers utilizing a highly efficient manufacturing approach and comprehensive business model without the inefficiencies and high legacy costs associated with the traditional automotive manufacturers," Savarie said. "Having advised automotive industry clients through the years, including some of the largest in the business, I believe that Carbon Motors has identified a tremendous need in the marketplace and has created an elegant business model to address that need. I am very excited and pleased to join the cause to bring our nation's 800,000 law enforcement first responders the proper equipment they need to safely and effectively protect our homeland."

Li noted that while purpose-built vehicles for firefighters, postal workers and the military exist, Carbon Motors is the first company committed to developing a vehicle targeting the unique needs of law enforcement officers. Currently, law enforcement agencies are forced to purchase retail passenger vehicles designed for regular citizens that are subsequently outfitted at substantial additional costs - with the necessary equipment needed by law enforcement.

In contrast, the Carbon E7 will be designed from bumper-to-bumper and from the ground up to specifically serve the demands of today's law enforcement..
While criminal threats and law enforcement tactics have evolved to become more sophisticated over the years, the resource most critical to the majority of officers—the patrol car—has not. Most officers are still driving a vehicle designed three decades ago, which was never intended for the extreme conditions encountered during regular law enforcement operations.

In support of the company's design efforts, Carbon Motors has formed the Carbon Council, an online advisory group comprised of retired and active duty law enforcement professionals and government personnel who provide suggestions and feedback on the design of the E7. Over 1,200 members from all 50 US states have joined the Carbon Council since its formation.

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