Crowdfunded Electric Car Uniti Plans Crowdcube Campaign as it Expands into UK

Uniti, an electric car that was developed in Sweden, is planning to raise capital on Crowdcube as it expands into the United Kingdom.

In 2016, Uniti sold equity on FundedByMe a valuation of €9.8 million.

The following year, Uniti launched a self-crowdfunding campaign that received the backing of 950 investors from 37 different countries, according to reports by the company. At one point, Uniti planned an initial coin offering but that initiative appears to have been put on hold.

Now, Uniti is planning to offer shares to retail investors in a yet to be posted securities crowdfunding offer on Crowdcube.

The announcement about the forthcoming crowdfunding offer was joined by the news that Uniti will be establishing the “first fully digitalised EV production site” at Silverstone Park in the UK – the home of the British Grand Prix. Uniti has a goal of becoming a major player in the UK’s electric vehicle market over the next few years.

The new pilot production plant will be used to manufacture the Uniti One electric car. It will also serve as blueprint for licensed assembly plants around the world. The strategy is being described as a “factor in a box” model as Uniti seeks to cater to the nuances of each individual market.

“The future of Great Britain is electric and autonomous,” stated Sally Povolotsky, Uniti’s Vehicle Development Director. “Through my work with Silverstone Technology Cluster ACES, I can attest this is an exciting time for the UK automotive industry, and one of rapid growth and innovation. Once the Uniti pilot plant facility is fully operational, we can take this blueprint global.“

Uniti CEO, Lewis Horne said it is  no secret that some of the world’s best vehicle engineers are clustered around Silverstone.

“When coupled with a government receptive to our ambition and goals, we couldn’t find a better home to establish our pilot production facility.”

The Crowdcube listing is expected to go-live any day now with a limited number of shares made available to Crowdcube registered investors.

Uniti stated:

“We anticipate this equity crowdfunding campaign to go quickly, which is why we’re offering our community priority access to our investment page before it goes live to the general public. If you would like the opportunity to own a part of our business, please register your interest on our website.”

Uniti has posted a registration page for investors interested in access to the offer.

Uniti plans to unveil its production models in late 2019. Delivery of Uniti cars are expected to commence soon after starting in Europe.

This past June, Uniti announced that the company has accepted over €50 million in pre-orders. More recently, Uniti has shared that pre-orders have topped €70 million. Refundable pre-orders for €149 may be placed here.

The offering on Crowdcube should help boost consumer awareness of the new spin on electric cars in the UK and elsewhere. Other crowdfunded companies have successfully leveraged the very public offering of securities to help market both products and services. The Uniti vehicle is designed to be super tech friendly, convenient and affordable.

Target specs of the first design are below:

  • 240 km range
  • 130 km/h top speed
  • Rear wheel drive
  • Dual motors output of 120kW
  • 26 kWh battery pack, DC fast charging
  • 25 min from 20-80% on standard charge
  • 900kg gross weight

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