With less than 24 hours left until its equity crowdfunding campaign on StartEngine officially closes, Sondors Electic Car company has successfully surpassed its $1 million stretch goal and will secure over $1.1 million from more than 1,600 investors.
As previously reported, the campaign was launched by Storm Sondors, who is known for his Indiegogo-funded project, Sondors E-Bike. Sondors filed a Form-C and accompanying offering details with the Securities and Exchange Commission (SEC). The electric car company is now seeking to design, develop and manufacture an affordable electric car. Much like StartEngine alum, Elio, the Model Sondors electric car is being designed to have three wheels, which the company revealed creates less drag and reduces the amount of energy needed to move it. It will also have three range options: 50 miles, 100 miles, and 200 miles. Sondors and his team revealed:
“Our mission is to offer a cost effective and clean alternative to our daily transportation. We believe the car world is going electric. We want everyone to be able to drive to work with a cool looking electric car. We want to make a change, for the better. We do not have time to wait around. We need a solution right now to transform how we drive to work. The world is changing. Let’s change it together.”
Sondors noted:
“There are enough creators for useless stuff and very few who actually create what’s useful. Henry Ford built the first affordable car and changed the face of transportation. I want to build the first affordable electric vehicle and transform transportation once again. I first started an electric bicycle company because I wanted to ride in Malibu, feeling free and having fun. I wanted to offer a bicycle that was built with high quality components for under $1,000. Everybody thought it could not be done. I have since shipped SONDORS electric bikes to the delight of more than 17,000 loyal SONDORS owners worldwide. Now I want to build an electric vehicle for $10,000. The next great American electric vehicle is being built in my garage. Together we will start the electric transportation revolution.”
Sondors recently shared:
“The next automotive revolution will be electric, or so they say. And what’s amazing, is electric utility companies won’t need to increase their capacity by more than a few percent, as most electric car owners will auto-charge at home, when it is cheapest and readily available. Part of this revolution is how we can better use the energy we already have – that’s why electric cars are the future.”
The campaign is set to close tomorrow (December 31st). Due to Reg CF rules, StartEngine stated that Sondors would only be accepting $1 million. The accepted investment submissions over $1 million in the case that some of the funds did not clear or wire transfers were not received.
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