Tom Kraeutler: Welcome to this edition of the Money Pit’s Top Products podcast. I’m Tom Kraeutler. For years if you wanted to get any kind of job done around the job site you needed a power cord. One company has been making it their mission to cut that cord. In fact, they used to be called Milwaukee Electric because their tools needed a cord, too, but now that’s no longer the case. Welcome Steve Richman, the President of Milwaukee Tool. Hi, Steve.
Steve Richman: Absolutely. Our strategy is clear. On the M12 platform or on the M18 platform they will always be forward compatible and backward compatible. What we’ve accomplished here is our first generation replaced corded drills and impacts. Today what we have launched is tools that have clearly cut the cord. We have products like band saws and Hole-Hawgs and today’s circular saws and mag drill presses that now don’t need a cord. We’ve cut the cord in all of those applications for every kind of pro throughout the U.S. and throughout the world.
Steve Richman: How are you today?
Tom Kraeutler: You guys actually were first to introduce lithium ion battery technology to the market. Tell us about that initial introduction and how it’s changed over the last, what, 15 years?
Steve Richman: Fifteen years ago we set up a team. They were dedicated to try to bring lithium technology to the marketplace for tools. Ten years ago we launched the first power tool called M28 with lithium power. That was the first tool. Had a lot of deficiencies but we realized that technology had a lot of capabilities for changing the game in the future and especially today.
Tom Kraeutler: Over the last 15 years the goal has been to really get more run-time, more power out of these batteries. I think when pros think of batteries they tend to think of them as all being sort of the same. It’s a battery, it’s a battery, it’s a battery, but you guys have found out and have learned through much, much research that with lithium ion cells there’s a wide range of capabilities and choosing the proper cell to get the optimum performance is really critical to the success of the tool.
Steve Richman: Absolutely. We actually look at it a little bit differently. We look at lithium power as being not only the battery pack but being a combination of the battery pack, the motor technology, and the electronics. When we set our first stage of product that really revolutionized this industry eight years ago and called it M12 and M18, we really made the battery system talk to the tool. That gave us endless possibilities for the future.
Tom Kraeutler: When you say the battery talks to the tool, tell me how that conversation goes.
Steve Richman: What we designed was high technology computer chips designed in our battery as well as our tool. They interface with each other and that interface allows maximum output in terms of power or speed or performance in that tool and that application. What that has enabled us to do is, as we launched that eight years ago, all the batteries that we launched eight years ago fit in all the tools that we have launched since that time frame. They’re all compatible under the M18 platform or the M12 platform because they understand what the performance is that is required for that specific job.
Tom Kraeutler: That’s absolutely brilliant because a big pain point with contractors is they bought tools years ago, they don’t apply to the technology today. The fact that this is now backwards compatible is huge.
Steve Richman: Absolutely. Our strategy is clear. On the M12 platform or on the M18 platform they will always be forward compatible and backward compatible. What we’ve accomplished here is our first generation replaced corded drills and impacts. Today what we have launched is tools that have clearly cut the cord. We have products like band saws and Hole-Hawgs and today’s circular saws and mag drill presses that now don’t need a cord. We’ve cut the cord in all of those applications for every kind of pro throughout the U.S. and throughout the world.
Tom Kraeutler: Could you ever have imagined 15 years ago that you’d be building tools that big running just on battery power?
Steve Richman: There’s no question. The vision from engineers was that that would be the long-term and that’s what would happen. Most people doubted that that would occur but our objective is clear. In our power tool arena, we are a cordless power tool company. We don’t focus on the corded tools because we believe that we will replace all corded tools in the marketplace with cordless technology.
Tom Kraeutler: Steve Richman, President of Milwaukee Tool. Thank you so much for being a part of the Money Pit Top Product podcast and for your efforts to cut the cord.
Steve Richman: Thank you, great day today.
Tom Kraeutler: Welcome to this edition of the Money Pit’s Top Products podcast. I’m Tom Kraeutler. For years if you wanted to get any kind of job done around the job site you needed a power cord. One company has been making it their mission to cut that cord. In fact, they used to be called Milwaukee Electric because their tools needed a cord, too, but now that’s no longer the case. Welcome Steve Richman, the President of Milwaukee Tool. Hi, Steve.
Steve Richman: How are you today?
Tom Kraeutler: You guys actually were first to introduce lithium ion battery technology to the market. Tell us about that initial introduction and how it’s changed over the last, what, 15 years?
Steve Richman: Fifteen years ago we set up a team. They were dedicated to try to bring lithium technology to the marketplace for tools. Ten years ago we launched the first power tool called M28 with lithium power. That was the first tool. Had a lot of deficiencies but we realized that technology had a lot of capabilities for changing the game in the future and especially today.
Tom Kraeutler: Over the last 15 years the goal has been to really get more run-time, more power out of these batteries. I think when pros think of batteries they tend to think of them as all being sort of the same. It’s a battery, it’s a battery, it’s a battery, but you guys have found out and have learned through much, much research that with lithium ion cells there’s a wide range of capabilities and choosing the proper cell to get the optimum performance is really critical to the success of the tool.
Steve Richman: Absolutely. We actually look at it a little bit differently. We look at lithium power as being not only the battery pack but being a combination of the battery pack, the motor technology, and the electronics. When we set our first stage of product that really revolutionized this industry eight years ago and called it M12 and M18, we really made the battery system talk to the tool. That gave us endless possibilities for the future.
Tom Kraeutler: When you say the battery talks to the tool, tell me how that conversation goes.
Steve Richman: What we designed was high technology computer chips designed in our battery as well as our tool. They interface with each other and that interface allows maximum output in terms of power or speed or performance in that tool and that application. What that has enabled us to do is, as we launched that eight years ago, all the batteries that we launched eight years ago fit in all the tools that we have launched since that time frame. They’re all compatible under the M18 platform or the M12 platform because they understand what the performance is that is required for that specific job.
Tom Kraeutler: That’s absolutely brilliant because a big pain point with contractors is they bought tools years ago, they don’t apply to the technology today. The fact that this is now backwards compatible is huge.
Steve Richman: Absolutely. Our strategy is clear. On the M12 platform or on the M18 platform they will always be forward compatible and backward compatible. What we’ve accomplished here is our first generation replaced corded drills and impacts. Today what we have launched is tools that have clearly cut the cord. We have products like band saws and Hole-Hawgs and today’s circular saws and mag drill presses that now don’t need a cord. We’ve cut the cord in all of those applications for every kind of pro throughout the U.S. and throughout the world.
Tom Kraeutler: Could you ever have imagined 15 years ago that you’d be building tools that big running just on battery power?
Steve Richman: There’s no question. The vision from engineers was that that would be the long-term and that’s what would happen. Most people doubted that that would occur but our objective is clear. In our power tool arena, we are a cordless power tool company. We don’t focus on the corded tools because we believe that we will replace all corded tools in the marketplace with cordless technology.
Tom Kraeutler: Steve Richman, President of Milwaukee Tool. Thank you so much for being a part of the Money Pit Top Product podcast and for your efforts to cut the cord.
Steve Richman: Thank you, great day today.
Tom Kraeutler: Welcome to this edition of the Money Pit’s Top Products podcast. I’m Tom Kraeutler. For years if you wanted to get any kind of job done around the job site you needed a power cord. One company has been making it their mission to cut that cord. In fact, they used to be called Milwaukee Electric because their tools needed a cord, too, but now that’s no longer the case. Welcome Steve Richman, the President of Milwaukee Tool. Hi, Steve.
Steve Richman: How are you today?
Tom Kraeutler: You guys actually were first to introduce lithium ion battery technology to the market. Tell us about that initial introduction and how it’s changed over the last, what, 15 years?
Steve Richman: Fifteen years ago we set up a team. They were dedicated to try to bring lithium technology to the marketplace for tools. Ten years ago we launched the first power tool called M28 with lithium power. That was the first tool. Had a lot of deficiencies but we realized that technology had a lot of capabilities for changing the game in the future and especially today.
Tom Kraeutler: Over the last 15 years the goal has been to really get more run-time, more power out of these batteries. I think when pros think of batteries they tend to think of them as all being sort of the same. It’s a battery, it’s a battery, it’s a battery, but you guys have found out and have learned through much, much research that with lithium ion cells there’s a wide range of capabilities and choosing the proper cell to get the optimum performance is really critical to the success of the tool.
Steve Richman: Absolutely. We actually look at it a little bit differently. We look at lithium power as being not only the battery pack but being a combination of the battery pack, the motor technology, and the electronics. When we set our first stage of product that really revolutionized this industry eight years ago and called it M12 and M18, we really made the battery system talk to the tool. That gave us endless possibilities for the future.
Tom Kraeutler: When you say the battery talks to the tool, tell me how that conversation goes.
Steve Richman: What we designed was high technology computer chips designed in our battery as well as our tool. They interface with each other and that interface allows maximum output in terms of power or speed or performance in that tool and that application. What that has enabled us to do is, as we launched that eight years ago, all the batteries that we launched eight years ago fit in all the tools that we have launched since that time frame. They’re all compatible under the M18 platform or the M12 platform because they understand what the performance is that is required for that specific job.
Tom Kraeutler: That’s absolutely brilliant because a big pain point with contractors is they bought tools years ago, they don’t apply to the technology today. The fact that this is now backwards compatible is huge.
Steve Richman: Absolutely. Our strategy is clear. On the M12 platform or on the M18 platform they will always be forward compatible and backward compatible. What we’ve accomplished here is our first generation replaced corded drills and impacts. Today what we have launched is tools that have clearly cut the cord. We have products like band saws and Hole-Hawgs and today’s circular saws and mag drill presses that now don’t need a cord. We’ve cut the cord in all of those applications for every kind of pro throughout the U.S. and throughout the world.
Tom Kraeutler: Could you ever have imagined 15 years ago that you’d be building tools that big running just on battery power?
Steve Richman: There’s no question. The vision from engineers was that that would be the long-term and that’s what would happen. Most people doubted that that would occur but our objective is clear. In our power tool arena, we are a cordless power tool company. We don’t focus on the corded tools because we believe that we will replace all corded tools in the marketplace with cordless technology.
Tom Kraeutler: Steve Richman, President of Milwaukee Tool. Thank you so much for being a part of the Money Pit Top Product podcast and for your efforts to cut the cord.
Steve Richman: Thank you, great day today.
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