Role: 1171

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

The electric vehicle industry is exploding right now with demand exceeding supply. This has driven the emergence of several new players and the arrival of exciting new technology. Our client has developed an EV platform onto which small to medium vehicle manufacturers can build their next generation electric transport solutions. This avoids the huge R&D cost they would face if they did it on their own.

This 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. This will 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.

Our client seeks Investing Non-Executive Directors (Non-Exec) and Advisors with backgrounds/experience in high growth start-up businesses for a disruptive technology ideally in the fast-growing world of Electric Vehicles. 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.

The company is looking to strengthen their Board, adding to the investments already made, with the appointment of further investing Non-Executive Directors and 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, London.
  • 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 Government 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).
  • Now based 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 would 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.

 

Non-Exec Director Role/Requirements/Expertise:

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:

  • 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 (EV experience would be a bonus).
  • Tier 1 or Tier 2 automotive supply experience generally.
  • 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. One investing Non Exec has already invested and joined the Board.

 

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: 

  • We are looking to close net £150,000 of funding which 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

 

Closing date for applications: Tuesday, 15th March 2022

                  

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