With demand for electric transport solutions at an all-time high, our client has developed a novel and innovative solution to reduce the overall cost for low volume vehicle manufacturers to convert to an all-electric solution. This avoids the huge R&D cost they would otherwise face if they did it on their own.

Two investing Non-Executive Directors have already joined the team, and our client, with an exciting business proposition, now seeks a further two Investing Non-Executive Directors (Non-Execs) ahead of a pre-seed funding round. You will have a background / experience in high growth start-up businesses for a disruptive technology, ideally in the fast-growing world of Electric Vehicles.

The appointments are aimed to strengthen the Board, adding experience, skills and credibility to an already impressive engineering led team. Non-Executive Directors and Advisors will be expected to contribute their knowledge, experience and networks to the continued growth of the company.

The Non-Executive Directors and Advisors will be encouraged to become shareholders in the Company to align their interests with that of the existing Directors who are all shareholders.

Business Concept:

  • Our client was born from the pioneering work of two Engineering Masters graduates from Imperial College; the first iteration of their creative genius had seen them build a fully functioning electric vehicle with hub motors in all four wheels which could turn through 90 degrees providing the ability to parallel park in the smallest of spaces – something that could be achieved after leaving the vehicle and operating the car remotely from a smart phone! This prototype was supported with funding from the Govt. of Pakistan who are keen (ultimately) to see the vehicle built and on the roads in the developing world (and have allocated land in a development zone for this purpose).
  • Our client’s platform, often referred to as an EV “skateboard” has a range of innovative features not seen packaged together before – in-wheel motors making for a much larger usable platform, battery as a chassis, electronic steering, remote “App” control and the ability to rotate in its own footprint. This is delivered in a modular package where width, length and range can be adjusted for any application.
  • Our client’s platform is expected to be used by small volume Car, Van and Truck Manufacturers: mini-buses, camper vans, Fire Engines, Ambulances, Military applications, Classic Car converters and the like, providing a ready-made Electric Vehicle solution, thus speeding delivery and reducing costs.
  • Now based and registered in the UK, the business has already started to build the second prototype and is deploying the knowledge learnt from the first version. This will see the creation of a so called “EV skateboard” which will be sold to existing small volume vehicle manufacturers reducing their cost to go electric; used to adapt military vehicles quickly and easily to pure electric; and provide a lower cost route for classic car converters to change old ICE cars, vans and even trucks over to a clean future. This will be modular in design, enabling different widths and lengths to be accommodated, together with range options, and different performance characteristics.
  • Our client is supported by the Enterprise Lab, Imperial College London, the Ministry of Science and Technology within the Govt. of Pakistan and is on the Startup-Gurus fast track programme.

 

Market & Opportunity:

  • In the UK alone £5.16bn in revenue was generated by smaller vehicle manufacturers in 2019, before adding in the additional Commercial vehicle, bus, Military, Specialist Vehicle and Classic Car conversion sectors.
  • The global market amongst specialist car builders, utility / military applications and for car and van conversions is thought to be 10 times this size.
  • The opportunity ultimately to build cars and vans for the developing world on a lower cost version of their EV Skateboard adds an exciting dimension to the project.

 

Client Proposition:  

  • Th company is looking to close net £100,000 of funding in a £150,000 round of which £50,000 has already been invested. This will allow us to reach demonstrator device level (MVP) – something that can be shown to potential customers in the UK and beyond. Note, the total funding runway is much less than required for complete vehicle manufacturing as this represents something more akin to a Tier 1 parts supplier.
    • SEIS/EIS Assurance – application in
    • Total Equity offered 10% (i.e., 1.7% per £35,000 investment)
    • Use of funds: Develop and deploy demonstrator model which can be shown to clients. Recruit engineering team. Build sufficient marketing collateral to reach first orders

 

Role Requirements:

Rarely do we see an early-stage business that has fully funded and built a working prototype; is already working on a second and has registered a patent for several key elements of the design.  As an engineer driven business this is a start-up seeking input from two further investing NED’s with the following areas of expertise:

1.  Manufacturing and supply chain ideally from an automotive background and EV experience would be a bonus.

2.  Batteries / Motors / Controllers in the electric vehicle space.

3.  Tier 1 or Tier 2 automotive supply experience general. 

 

Applying for the role: 

Candidates who feel they meet the above criteria are invited to apply, having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1176 and completing the application form explaining how they match the key criteria we have set out for the role.   

The role will close on 1st July 2022                

Success Stories