Crowdfunding is the new thing for everything these days, even motorcycles. Arc, a British startup, is using crowdfunding to put its electric motorcycle into production.
This funding is not the same as the platforms you are probably familiar with; “Crowdcube” is an equity-based platform for crowdfunding. Instead of paying for a product or part of a product, your investment is just that, and you will get a share of the business. Similar to crowdfunding other businesses and investing for that matter, this means there is a chance that the investment will end up being worthless.
Arc, which is careful to call itself ‘a team of groundbreaking British designers and engineers pioneering electrical machinery’, is aiming to expand into a new manufacturing facility in St Athan, South Wales, in which finalize the development of their new limited edition electric motorcycle. They will expand into this 65,000 square foot facility to work on bringing their concept into production. The Vector is expected to cost £90,000.
Arc’s CEO is Mark Truman, and he had this to say: “Since launching the Arc Vector just 16 weeks ago, we have been overwhelmed by the positive reception it has received from the media. global, prospects and investors. To date, we have received over 100 expressions of interest from prospects and we are now opening up ownership of our transformative business in a manner similar to the community ownership model made famous by Barcelona football.So whether you are a passionate motorcyclist, a seasoned investor, a tech enthusiast or simply someone with a passion for the environment, this is a unique opportunity to join the Arc family and help accelerate our journey to become an established global leader in electric, recreational and luxury mobility.
According to Arc’s website, the group will only make 399 of these machines, which have a published charge time of 40 minutes with a range of 436 km (270 miles) and a weight of 220 kg (485 lb).
The Crowdcube funding site will go live on May 6. Are you ready to invest?
Source: ArcMore bikes