Sector: Electric cars
SIC Code: 50120102 AUTOMOBILES
Country of Origin: Malta |
Target Areas: Worldwide
The project relates to an automotive company with an innovative business solution to produce electric vehicles with high performance, efficiency and safety in line the European New Car Assessment Programme (EURO NCAP).
Along with the assistance of EU funded projects, over the last years the company invested heavily in research and development. A number of models are ready for production and to subsequently go on the market.
Amongst others, the models comprise of a passenger vehicle classified as Kei-car/M1 (designed and constructed for carriage of passengers), with 2 front seats and 3 ergonomics rear seats. The vehicle is 340cm long with a width of 148cm and 158cm in height. It comes with a top speed of 120km/h and with 10kWh/100km efficiency in the WLTC cycle with comprehensive Euro-NCAP safety certificates. The high efficiency solar panel on its roof allows a daily average 15km operation.
On the other hand, the minivan is targeted for industrial purposes, classified as Kei-car/N1 (designed for carriage of goods having maximum mass not exceeding 3.5 tonnes). The vehicle which is 340cm long is a 2 seater with 18kWh-48kWh modular battery capacity, load weight of 350kg and 1.7m3 volume capacity. Thanks to 5m2 of high-efficiency solar panels it can operate some 40km daily through solar harvested energy only.
The total cost of ownership of such vehicles is also far lower than that of other traditional non-electric vehicles. According to company findings the total cost of ownership of electric vehicle after a period of 5 years will only amount 60% of a gasoline vehicle with a 1100 cubic centimeter engine.
The company intends to set up a manufacturing plant in Malta in order to produce its vehicles.
The investment opportunity goes directly in line with the European Union’s efforts and objectives to lower carbon and Greenhouse gas emissions.
Furthermore, demand for electric vehicles has been on the increase over the last years in most EU countries, both due to various incentives by governments and due to a growing environmentally cautious market.
Capital required: EUR 40,000,000
From an innovative point of view, apart from the traditional charging by connecting the vehicle to some form of charging infrastructure, vehicles produced by this brand are also equipped with Photo Voltaic Panels. These vehicles may charge via traditional charging infrastructure and partially via Photo Voltaic Panels.
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