INKAS exploring armoured electric vehicle possibilities
by CM Staff
The EV boom in 2021 means that companies like INKAS are pivoting to address the need for armoured electric vehicles.
INKAS, an armoured car manufacturer with operations in the GTA, announced the release of their new armoured BMW X7 in February, responding to the pandemic’s challenges with continued product offerings. INKAS has operated a manufacturing facility in Toronto for a number of years, and due to the growth of the EV market in 2021, is now working with automotive manufacturers to research and develop armoured electric vehicles.
Andrew Ellis, Director and Special Advisor to the Board at INKAS, elucidated some of the challenges when adapting armoured vehicles for electric cars.
“A lot of people don’t know how heavy an armoured car is. It’s extremely heavy. The materials are on every facet of the car, it has to cover the engine, the windows, the doors. That adds a lot of weight. We have to protect the battery, we have to protect the electric engine. And then the build and motor of that car has to be able to support that additional weight.”
Currently, EV’s are not widely available in an armoured format. The EV boom in 2021 means that companies like INKAS are pivoting to address this gap, understanding that the future of cars is now electric.
The armoured vehicle market is enormous, and was valued at USD 25.5 billion in 2018. According to Andrew Ellis, “Whenever there’s global instability, there’s an increase in demand for security and defense products.” Despite this, Andrew noted that INKAS did not experience a boom when the pandemic first hit. They suffered a setback in sales that may not have been as harsh as in other industries, but were still effected by the pandemic.
INKAS’ personnel in the GTA number around 400, and with the growth of EV research and development, INKAS is exploring international growth opportunities to service interest in armoured vehicles overseas. President Biden’s recent announcement of a ‘Buy American’ initiative has INKAS concerned that their supply chain may be effected but they’re confident in the need for armoured vehicles and the trust their existing client base has put on them.
“There’s still a lot of details around ‘Buy American’ we don’t know about,” Andrew Ellis said. “It’s important for us to monitor, but it’s not clear how influential it will be for the automotive industry. The Canada-US Auto Pact is obviously huge for both governments so it will be important for us to work with our governments to make sure our industry isn’t negatively effected.”
INKAS continues to work with EV manufacturers in 2021 with an eye towards expansion abroad. The number of manufacturers experiencing a boon due to EV’s rapid growth continues to grow and will be worth monitoring as businesses pivot their R&D departments to address this emerging market.
To listen to our podcast interview with Andrew Ellis, click here.