Swedish Electric Car Startup Uniti Crowdfunding Its Dream

Swedish electric car startup Uniti is now live with its second public crowdfunding campaign to fulfill its dream of building a working prototype of its flagship all-electric model, the L7e, and introducing it to market.

In Oct. 2016, Uniti ran its first crowdfunding campaign on FundedByMe, which raised $1,444,250 (€1,230,080) from 569 investors in 45 countries, or the equivalent of 11% of the company’s shares. A second crowdfunding campaign, now live on Uniti’s website, Uniti.earth, has seen an additional $16,000,000 from 696 investors with 895 pre-orders, as of Oct. 10. A third fundraising round is expected in Q1 of 2018, led by institutional investors.

Currently, the Uniti team is planning on using the funds to build a working prototype, a two or four-seater called L7e. The model is constructed out of lightweight carbon fiber and biomaterials, reporting a 186-mile (300-km) range. Additional specifications include an 80 percent charge in under 15 minutes using a standard EU DC charger, a solar roof option, a 3.5 second 0-to-50 time, a full-screen heads-up display with head and hand tracking, and a removable battery. It will also feature electronic steering via a steer-by-wire system. The cost of the Uniti is expected to be around $23,000 (€20,000).

Founded by Australian Lewis Horne, a serial entrepreneur, Uniti has formed partnerships with Williams Advanced Engineering, a Formula 1 race group, as well as Siemens and a team of Nordic product designers for its design and engineering efforts, with the goal of shipping cars in early 2019.


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