An unlikely participant in the green vehicle revolution has entered the fray. Today, the WSJ highlighted Best Buy’s (BBY) effort to expand its offerings and take a gamble by selling electric scooters and bikes at 19 west coast locations (you can buy them from anywhere online). Not only will they sell them, but their Geek Squad will be trained to provide low level service and repair. It’s a great move from Best Buy and won’t cost much to test as floor space opens up. As the WSJ points out, most consumer electronics are shrinking in size and Best Buy needs to fill the space. If nothing else, it’s an attention grabber.
They began selling the scooters and bicycles (from Currie Technologies) in May and just yesterday began selling the Brammo (an Oregon company they invested $10 million in) Enertia electric motorcycle at a Portland, Oregon store. They’ll roll it out to other stores later this summer. However, at a cost of $12000, the motorcycle will be more of a curiosity rather than an engine of revenue growth. The lower end scooter and bicycle models priced from $299 to $499 may be a popular option for those looking for some affordable, green transportation.
Even if the price is a little high, those tax credits do stack up. Depending on which state your in, together with the default credit from the government, you looking at a maximum credit of around 30%, which brings the price down significantly.