We are excited to announce our continued investment in EcoAuto, a minority- and woman-owned electric vehicle dealership in Tewksbury, Massachusetts. In 2024, BII is expanding our partnership through a new line of credit that supports EcoAuto’s inventory growth, building on our initial convertible note investment earlier this year. Founded by husband-and-wife team Al and Michelle Salas in 2022, EcoAuto exemplifies how mission-driven business can simultaneously advance climate justice, economic equity, and community education.
BII’s investment enables the dealership to meet surging consumer demand for affordable, pre-owned electric vehicles while expanding their recently enlarged lot capacity. Since our first investment, EcoAuto has demonstrated exceptional market performance—turning vehicles at an average pace of 34 days compared to the industry average of 119 days—validating both their business model and the growing demand for accessible EV options.
What sets EcoAuto apart is their comprehensive approach to lowering barriers to electric vehicle ownership. The dealership offers a diverse inventory of certified pre-owned EVs (having fully transitioned from also carrying PHEVs and hybrids), provides affordable at-home charging station installation through partnerships with master electricians, and helps buyers navigate current local and federal rebates and incentives. Each vehicle sold includes a Level II charging station to support charging autonomy, ensuring that new EV owners have the infrastructure they need to succeed.
This expansion represents strong validation of EcoAuto’s mission and impact. Founded to address the high barriers deterring consumers from entering the electric vehicle market, EcoAuto has grown steadily since opening their Tewksbury facility in 2023. The building—redeveloped from a former Nissan dealership that had been vacant for years—now serves as a one-stop shop housing their inventory, repair shop, and customer service operations. The dealership has grown from 11 to 16 full-time employees, creating quality jobs while scaling their climate impact.
EcoAuto’s leadership team brings deep automotive industry expertise with a commitment to mission-driven work. Co-founder and CEO Al Salas is a serial entrepreneur with over 15 years of experience in automotive reinsurance. Co-founder and COO Michelle Salas brings over 20 years of experience in dealership finance and operations management. General Manager Chris Carli adds over 20 years of experience in procurement and wholesale management. This experienced team has successfully navigated the transition to exclusive EV sales while maintaining exceptional operational performance.
Beyond vehicle sales, EcoAuto has developed multiple revenue streams that advance their climate mission. Their charging station and infrastructure division has grown organically, conducting significant business with gas stations, dealerships, and municipalities including a confirmed commitment from the City of Gardner. The dealership has built goodwill in the community by donating charging stations to libraries, farmers markets, and municipalities.
EcoAuto’s commitment to community education sets them apart in the automotive industry. Founders Al and Michelle, along with their team, consistently attend community events at farmers markets, municipal gatherings, and faith-based events to provide education about EVs, the charging station installation process, and available tax credits and rebates. The dealership hosts monthly educational workshops called “Economic, Eco-friendly, EcoAuto” that explain the EV ownership process, installation considerations, and the true cost of owning an electric vehicle. They also attend EV car shows throughout New England to expand their network and client pool.
The social impact of this investment extends beyond climate benefits. EcoAuto’s business mission explicitly centers getting everyone—especially lower-income people and people of color—driving EVs. They recognize that building this market requires education and relationship building, not just sales. Their extensive outreach through farmers markets, libraries, in-house events, and partnerships with local nonprofit organizations demonstrates their commitment to making EVs accessible across economic and racial lines. As a minority-owned (51%) and woman-owned (49%) business, EcoAuto also contributes to economic equity in the automotive industry.
EcoAuto’s work directly aligns with BII’s mission of building community wealth while advancing climate justice. In a transportation sector still dominated by fossil fuels, this partnership demonstrates how strategic investment can accelerate clean energy adoption while ensuring that the benefits of this transition reach historically marginalized communities. By making electric vehicles accessible and affordable, EcoAuto is helping to create a just energy transition that serves everyone.
We’re proud to expand our partnership with EcoAuto as they continue their essential work of democratizing electric vehicle access, ensuring that clean transportation becomes a reality for communities across income levels and backgrounds.