Dubuc Motors, makers of the Tomahawk all-electrical supercar prototype, not too long ago announced that the Securities and change fee (SEC) had licensed its filing for equity crowdfunding underneath the us JOBS Act law A+.
the corporate started a testing the Waters marketing campaign in 2016, when it revealed the Tomahawk prototype, and raised $ 6.1 million in preliminary funding reservations. Now that the campaign is within the are living providing section, the corporate can convert those reservations into fairness shares. Dubuc Motors concurrently filed for a law S, which allows investors in the united states and around the world to kick in as little as $ 200 every. “And we’ll build from there,” stated Dubuc founder and COO Mike Kakogiannakis in a telephone interview.
Dubuc likes to show that it’s the first EV firm to approved by using the SEC to sell fairness shares this manner. but when law A+ sounds familiar, that may well be for the reason that gasoline-powered three-wheeler to (possibly) be built through Elio Motors used the identical mechanism in the us JOBS Act to raise $ 17 million. however Elio Motors has had to push its production and delivery back a couple of times, and at the end of 2016, they gave the look to be underwater. “It’s a distinct trade adaptation,” founder and CEO Mario Dubuc said. “it could hinder our efforts.”
Prerevenue, Kakogiannakis said, there were about 30 individuals who labored on the prototype. In the following couple of months, the crew will grow to a hundred, and the manufacturing edition will probably be unveiled in Las Vegas at CES 2018. manufacturing is predicted to start in 2018, when Kakogiannakis predicts a workforce of about a hundred and fifty, including workers on the Tomahawk production line. (where that production line will likely be situated remains to be in negotiations.)
The Tomahawk is a 2+2 unique sports automobile meant to suit 4 adults — as tall as six-4 within the entrance seats and 5-9 in the again — and even accommodate rising families. “We needed to target a section out of the big automakers’ attain,” Kakogiannakis stated. He and Dubuc started the corporate as a aspect gig over a decade ago and give up their jobs in 2013 to construct Dubuc Motors full time.
They see the Tomahawk as a “complement to Tesla‘s edition line moderately than a competitor,” Kakogiannakis stated. the car could have an identical performance to the version S, with a zero-60 mph time of three seconds and a 160 mph max velocity. but it’s going to have “a little bit extra range,” in keeping with Kakogiannakis, with a that you can imagine 370 miles. “amongst EVs, we’re by myself,” he said, “however Ferrari and Lamborghini could be competitors.”
They’ll also construct the Tomahawk in supercar numbers — best 1500 gadgets are deliberate over the following 5 years. The automobiles will have less than supercar costs, though, with a goal of $ one hundred twenty five,000 to $ a hundred and fifty,000, relying on what number of extras consumers want to add. security and sensors might be present, as will advanced know-how — but now not self sufficient driving. “As a sports activities automobile, the Tomahawk is supposed to be felt,” Dubuc mentioned. “possibly we’ll work on autonomy at some point for different models.”
Featured image: Dubuc Motors
Fundings & Exits – TechCrunch