UK EV startup Cost Automobiles has introduced a recent breath of life into its bespoke electrical muscle automotive enterprise. The corporate has introduced new possession, which intends to proceed and expedite the event of its flagship mannequin, the ’67, primarily based on a basic Ford Mustang.
Cost Automobiles emerged as a startup in 2016 and is headquartered a couple of minutes exterior London. The corporate’s preliminary objective has been to develop and ship its flagship product, the ’67 EV, as seen under. The ’67 relies on the 1967 Ford Mustang Fastback and required a license from the American automaker to make use of its physique elements.
The corporate beforehand shared plans to construct solely 499 examples of this electrical muscle automotive, however virtually a decade later, potential clients are nonetheless ready.
Whereas we have now been following Cost Automobiles for a while, there’s a cause we haven’t coated the corporate. Its flagship BEV is cool as hell however has at all times given us the sensation that it runs on pure vapor. Most startups can construct a prototype, however as we at all times say, scaling is difficult.
There’s no higher proof of this battle than the information that got here out of Cost Automobiles HQ in Could 2024, stating that it had entered administration within the UK and a licensed insolvency practitioner, on this case, Mark Smith and Stephen Cork of Cork Gully LLP, have been appointed as directors to deal with the enterprise, its affairs, and mental property.
The choices have been to unload items of the enterprise or attempt to salvage it with recent traders excited by taking up. Fortunate for Cost Automobiles, a gaggle of personal traders has come to the rescue and can attempt to choose up the place the unique homeowners left off in creating and delivering a bespoke electrical muscle automotive.
Cost hopes to dwell on and ship its electrical muscle automotive
In response to a press launch revealed from the UK early this morning, a consortium of personal traders has acquired Cost Automobiles. It plans to expedite the ultimate growth of the ’67 electrical muscle automotive at a brand new state-of-the-art international headquarters primarily based in Silverstone, UK. Paul Abercrombie, who took over as Cost CEO final November, spoke in regards to the new possession and the alternatives it is going to deliver the British EV startup:
On behalf of the consortium, I’m delighted to announce the acquisition of Cost Automobiles. The ‘67 establishes a brand new class of EV – and we are going to now speed up last growth at our new international HQ in Silverstone, UK, quickly delivering this thrilling luxurious automobile to clients. The Cost model has enormous international potential, and we stay up for revealing extra particulars very quickly.
Whereas we now know the way forward for Cost Automobiles’ electrical muscle automotive is within the arms of this consortium at a brand new headquarters, the remainder of its plans stay non-public for now. We have no idea if the brand new homeowners will keep on with the unique manufacturing targets of 499 builds or go smaller or bigger.
From what we will inform, the specs of the ’67 will stay the identical because the reborn startup works via its last growth stage, as outlined above. The electrical muscle automotive primarily based on a basic Ford has a 63 kWh battery that delivers 200 miles of vary and powers quad motors that may attain 400 kW of peak energy (1,520 Nm of torque). The BEV can journey 0-60 mph in 3.9 seconds and recharge at a DC fee of as much as 50 kW.
Cost Automobiles guarantees to disclose future plans “imminently.” Examine again with Electrek quickly.
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