Sondors Electric Car Company has raised $449,000 on StartEngine under Reg CF. This is the second offering listed on StartEngine and Sondors has around $1.4 million on StartEngine so far.
Sondors got its start in the e-bike world with successful rewards (e-commerce) campaigns. Sondors then went on to leverage that experience to launch a low-cost electric car company. As of today, the Sondors car is not in production but the offering page indicates that Sondors is now ready to build a production-ready vehicle.
To quote the securities offering page:
“If we reach our maximum funding goal and conclude this round, we expect it will take us six months to build the production ready vehicle prototype. Following its completion, we plan to execute a road show, where people can ask questions and test drive the vehicle, in the following cities: Seattle, Portland, Los Angeles, Phoenix, Houston, Chicago, New York City, Baltimore, Atlanta, and Orlando.”
Taking the e-car concept a bit further, Sondors is now targeting a “car sharing marketplace” as well as manufacturing vehicles.
Sondors predicts it will sell 3580 vehicles in its first year of production. The estimated retail price of the vehicle has been set at just under $20,000. The car itself will be a three-wheel, two-seater with an estimated range of 200 miles. Not that it matters too much bu the 0-60 metric is said to be 5 seconds.
So can Sondors compete with the likes of Tesla and all of the other emerging EV competitors? First they will have to get an actual vehicle out on the market but the experience with the bike should help, at least a little.
Sondors is selling shares in the company at a pre-money valuation of $80.4 million. The Offering Memo is available here.
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