Storm Sondors, the creator of the crowdfunding success Sondors eBike, is quickly nearing $1 million on StartEngine for his latest venture, his self-titled electric car company. The campaign was launched earlier this fall and quickly secured its initial $70,000 minimum funding goal.
As previously reported, 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 recently shared:
“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.”
In a recent update, Sondors revealed a report found the cost of batteries that power electric cars are falling fast. He noted that this is important because the battery is the most important, and expensive component in an electric car. The chart below shows this latest finding:
He then added:
“I want to make a $10,000 electric car everyone can afford. This chart says it all. We can achieve this goal, while simultaneously extending the range of our cars. This is a great win for all of us who want to drive electric.”
Sondors and his team also revealed they are expecting to unveil a prototype of the vehicle within the twelve months of the StartEngine campaign’s closing date, which is Saturday (December 31st).
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