Role: 1162

Application form for CFO Non-Exec role click here

Application form for Manufacturing & Supply Chain Non-Exec role, click here

Application form for Electric Vehicle Non-Exec role, click here

Application form for Sales & Marketing Non-Exec role, click here

Application form for Automotive Supply Non-Exec role, click here

Investing Non-Executive Directors (Non-Exec) and Advisors with backgrounds / experience in high growth start-up businesses for a disruptive technology in the fast-growing world of Electric Vehicles. Our client is supported by the Enterprise Lab, Imperial College London, and the Ministry of Science and Technology within the Govt. of Pakistan.

The business concept is to deliver an “EV Skateboard” (battery as floorpan, in-hub motors, steering (where all 4 wheels can turn through 90 degrees!), suspension, braking and control systems in a modular package. This will be used by small volume Car Manufacturers, Military applications, Classic Car converters and the like providing a ready-made Electric Vehicle solution, thus speeding delivery and reducing costs.

The company is looking to strengthen their Board with the appointment of 4 Investing Non-Executive Directors and 2 investing Advisors to contribute their knowledge, experience and networks to the 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 shareholders.

Business Concept:

Our client was born from the pioneering work of two Engineering Masters graduates from Imperial College. They originally hail from Pakistan where 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 your 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 for the purpose).

Now based in the UK, the business (MUEV Limited) has already started to build the second prototype and is deploying the knowledge learnt from the first version. Plans are underway to create a so called “EV skateboard” which would be sold to existing small volume car 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.

Rarely do we see an early-stage business that has fully funded and built a working prototype and is already working on a second. As an engineer driven business this is a start-up seeking input from investing NED’s and Advisors within the following areas of expertise:

  • CFO with fund raising experience for early-stage businesses.
  • Manufacturing and supply chain ideally from an automotive background and EV experience would be a bonus.
  • Batteries / Motors / Controllers in the electric vehicle space
  • Sales and Marketing with an automotive background and EV experience would be a bonus.
  • Tier 1 or Tier 2 automotive supply experience generally

 

Market & Opportunity: 

  • In the UK alone £5.16bn in revenue was generated by the smaller car manufacturers in 2019, before considering the Military and Classic Car conversion sectors.
  • The global market amongst specialist car builders, 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: 

  • We are looking to close net £175,000 of funding which will allow us to reach demonstrator device level – something that can be shown to potential customers in the UK and beyond
    • 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

 

Closing date for Applications:  Friday, 29th October 2021

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