‘I’ll never do it again’: I’ll never again buy an electric drill
A new electric drill will be the last thing on your mind when you visit Cleveland, Ohio, next year.
Cleveland Electric, which has been building electric drills since 2014, is expected to launch a new electric vehicle, the Ranger, on June 9.
Cleveland Electric CEO Kevin O’Leary says he’s not worried about the company’s prospects as a whole.
He expects that the electric vehicle will be in stores in 2019, and the electric drill and the Ranger will both be on the market in 2020.
“There are so many great brands out there,” he told CNBC.
“We just don’t have enough to go around, and we’re going to be making a lot more of them.”
O’Leary told CNBC he’s confident in the company, as well as in the power of electric cars.
“We’re going after the market that we want to dominate.
The electric vehicle is the best vehicle that’s been created and I’m confident that we’re right there,” O’Connor said.
He added that he was also bullish on the electric market in general.
The company has been aggressively pursuing the electric car market, which is expected for a comeback.
Electric car maker Tesla recently raised $1.2 billion in funding.
In May, Tesla sold the $5 billion Liberty SUV, which it previously bought for $1 billion.
O’ Leary says that this will give the company a lot of more cash, and he believes that the company will continue to invest heavily in the electric auto market.
“We believe that we’ve built a company that’s going to continue to be a force in the industry and we want that to continue,” he said.
“And I think that the industry is going to accelerate in the next year or two.
I’m optimistic about that.”
O’ Learys investment has made the company the largest investor in electric vehicle maker General Motors.