Storm Sondors Launches eCar Equity Crowdfunding Offer

Storm Sondors, one of the creators of the Sondors eBike that remains the second most funded Indiegogo campaign of all time, has switched from rewards to investment by offering shares in a new startup on StartEngine. Sondors filed a Form-C and accompanying offering details with the SEC last month.  The new entity is called Sondors Electric Car Company and it seeks to design, develop and manufacture an affordable electric car.  Ostensibly Sondors is striving to build upon its success in the eBike space.  Sondors has sold thousands of low-cost eBikes on Indiegogo, Kickstarter and via their own websit since their first campaign. While some backers have not ever received their purchased eBike from the first Indiegogo campaign according to the comments posted on the project page, it appears that the majority of backers have been satisfied with the product.

Challenging Tesla

The Sondors eCar is envisioned as the most attractive and affordable electric car ever. Sondors predicts a base price of just $10,000. The Model Sondors electric car has taken a page out of the Elio book by going with three wheels instead of four. The first iterations will be available in three range options: 50 miles, 100 miles, and 200 miles.  Sondors expects to unveil a prototype within twelve months after the closing date of the campaign. Sondors has not yet created a prototype presenting only some photoshopped concepts. After completing the prototype, the new company expects to market interest through a pre-sales campaign (ala Elio) and then leverage orders received to do another funding round. They predict sales to exceed 120,000 units in the first year. While Sondors has generated success with his eBikes it will be interesting to see how he manages the regulated environment of automobiles.

As mentioned in previous articles, Sondors has been embroiled in controversy from the beginning.  Agency 2.0 remains locked in a lawsuit with Sondors regarding alleged “contractual fraud,” as he allegedly did not honor the confines of his agreement with the marketing firm that solidified his success with the Sondors eBike. According to ToyJobs.com, Sondors lost another personal fraud lawsuit.

In a post from 2011, ToyJobs stated about the Storm (né Ivars) Sondors case;

“The Superior Court of New Jersey has awarded Toyjobs a default  judgment in the amount of $39,456.00 in its personal fraud suit against former  A-HA Toys president Ivars Sondors.”

According to a post from October of 2015, the penalty was finally paid.

Toyjobs President, Tom Keoughan posted in the fall of 2015;

“We’ve chased Mr. Sondors for eight years across three continents. It’s good to finally collect what is owed us and put this matter behind us. I’ve got two big boxes of paper to throw out. I have no way of knowing how he’s handling himself now, but it has been my experience that people over the age of forty don’t change much.”