Former Hargreaves Lansdown director launches electric scooter company with £10m of own money
Former Hargreaves Lansdown director and prolific investor Adam Norris has vowed to help solve the country’s congestion and pollution problems after ploughing an initial £10m of his own money into new electric scooter venture Pure Scooters.
The Glastonbury-based entrepreneur hopes to see as many scooters in use as cycles within two years, as he sets his sights on becoming the biggest electric scooter firm in Europe.
He believes electric scooters can be the solution to urban congestion, poor air quality and the “first mile, last mile” gap – the distance between the transport grid and a user’s home or office, that causes so many problems on our roads and to our environment. And he plans to raise the awareness of the benefits of electric scooters as the fastest mode of transport for shorter journeys.
He said: “The world has a huge problem with pollution, as well as congestion on the roads. We believe electric scooters are something that could make a difference. Some 56% of all car trips are less than five miles in length – it’s a shocking statistic that is having a terrible effect on air quality levels and pollution.
“But we would like to see as many electric scooters in use as bikes within the next two years. It can be the start of real change in how we travel short distances.
“We aim to be the single biggest company selling electric scooters in Europe and at the best prices. We hope this makes them accessible to everyone – even making them affordable to buy for those who currently rent them in cities across Europe. It’s an exciting venture and one I’m hoping can help change perceptions and lives.”
Adam Norris was just 26 when his vision of pensions being sold by phone, post or online received the backing of financial services giants Peter Hargreaves and Stephen Lansdown. Pensions Direct grew and was absorbed by the HL group which is now worth approximately £8bn.
In 2010 he set up Horatio Investments, investing around £14m into over 20 companies and start-ups, including horse supplement business Science Supplements. He also put in £8m into wave energy firm Wave Power.
His passion for being involved in something that could benefit the planet led to his latest venture Pure Scooters, that sees him leading from the front for the first time as CEO.
Norris hopes the UK Government will update the law as it realises the environmental and health benefits of scooters and move the UK in line with other green-thinking nations.
He added: “While countries including the US, Spain, France and China are embracing the electric scooter revolution that is helping cut down on car use, the UK’s outdated legislation means it is miles behind. We hope there will be change in law that will allow us to catch up with the rest of the world.”