The Twike electric vehicle manufacturer is pleased with the response to the crowdfunding campaign for the vehicle's fifth generation. Twike reached its funding goal super fast. It took just 14 days for the volume to increase by a factor of two. In and of itself, this shows us how much of a robust support system Twike has in the community. In a statement, the Twike team thanked the public for their support.
The "Family & Friends" round of Twike 5 crowdfunding continues until August 11th. The creators are hopeful that the public will continue to be interested in the project. New investors who have never heard of the Twike will benefit from a good starting point. As the past few weeks have shown, many potential investors have been able to get in on the action thanks to the fact that they can invest as little as 100 euros.
This round of funding should raise no more than €2 million. Right now, it's worth roughly 322,000 euros. The final development and production of the Twike 5 three-wheel electric vehicle are expected to cost around six million euros. Equity and/or debt capital will be used to raise funds. The company's current shareholders are willing to sell up to 20% of the company's stock to raise equity financing.
The Twike 5 three-wheel electric vehicle mass production is expected to begin in early 2023. Between 39,900 and 49,900 euros should be the price for the 250-kilometer version. According to the manufacturer, sales of 500 units equate to a turnover of about $20 million. About 4.8 million euros in upfront payments and information about the company have been made available to 1,600 prospective buyers.
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Production of the Twike 6 electric vehicle should begin in the first quarter of 2024, and sales of 2000 units are expected each year. The Twike 6 electric vehicle will be available in Europe and the United States. To put things in perspective, it's estimated to cost around $12 million to develop and produce the Twike 6. Debt or equity financing will be used to raise the necessary funds.
Update 2024:
The TWIKE 5 is a limited edition vehicle with only 500 units being produced. The vehicle is distributed based on an online ranking system that considers the amount of down payment made by customers and any subsequent increases. To secure a TWIKE 5, customers can make a 0-Euro reservation before placing a down payment.
Customers who place a down payment and are ranked 1-500 will be eligible to receive a TWIKE 5. Any pre-orders ranked 501 or higher will automatically be accepted as early pre-orders for the next edition, the TWIKE 6.
@via twike.
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