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![]() Apr. 15, 2024 By Alexandra Russell, Wine Industry Network Advisor
On April 8, 2024, the North Bay Business Journal reported that "The Sonoma County-based electric tractor company undergoing a major reorganization was evicted from its Santa Rosa location and owes $65,223 in back rent, the property owners say." The truth, says Mackie, is more nuanced than that. Mackie was brought to the Solectrac team by Ideanomics, which had purchased the agricultural company in 2020. "Following a review at the end of 2023, it was determined that our business model of establishing dealerships across the country was not working," he says. "We needed to take a pause and rethink our approach." Working with investors, the previous management team was replaced and it was determined that a direct-to-consumer approach would better fit the product. Company representatives reached out to existing customers to update them on the shift, address any outstanding service issues and reassure them the company would continue to support them. At the same time, dealerships were contacted and informed of the change. Some asked to return product and end the relationship; others chose to continue selling the equipment. "The dealership model put us in financial hardship," admits Mackie. "It also separated us from the end-user, which is where the real enthusiasm for our product lies. By speaking with [customers] directly, we're getting to know more about how these tractors are being used -- what industries are prioritizing sustainability and how Solectrac fits in their long-term plans." To read entire report, Click Here Tweet |
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