UK EV startup Cost Vehicles 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 traditional Ford Mustang.
Cost Vehicles emerged as a startup in 2016 and is headquartered a couple of minutes outdoors London. The corporate’s preliminary aim has been to develop and ship its flagship product, the ’67 EV, as seen beneath. The ’67 is predicated on the 1967 Ford Mustang Fastback and required a license from the American automaker to make use of its physique parts.
The corporate beforehand shared plans to construct solely 499 examples of this electrical muscle automotive, however virtually a decade later, potential prospects are nonetheless ready.
Whereas we now have been following Cost Vehicles for a while, there’s a purpose we haven’t lined the corporate. Its flagship BEV is cool as hell however has all the time given us the sensation that it runs on pure vapor. Most startups can construct a prototype, however as we all the time say, scaling is tough.
There’s no higher proof of this wrestle than the information that got here out of Cost Vehicles 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 taken with taking up. Fortunate for Cost Vehicles, a bunch of personal traders has come to the rescue and can attempt to choose up the place the unique house owners left off in growing and delivering a bespoke electrical muscle automotive.
Cost hopes to reside on and ship its electrical muscle automotive
In line with a press launch revealed from the UK early this morning, a consortium of personal traders has acquired Cost Vehicles. It plans to expedite the ultimate growth of the ’67 electrical muscle automotive at a brand new state-of-the-art world 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’ll convey the British EV startup:
On behalf of the consortium, I’m delighted to announce the acquisition of Cost Vehicles. The ‘67 establishes a brand new class of EV – and we’ll now speed up last growth at our new world HQ in Silverstone, UK, quickly delivering this thrilling luxurious car to prospects. The Cost model has large world potential, and we look ahead to revealing extra particulars very quickly.
Whereas we now know the way forward for Cost Vehicles’ electrical muscle automotive is within the fingers 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 house owners will follow 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 traditional 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 price of as much as 50 kW.
Cost Vehicles guarantees to disclose future plans “imminently.” Test again with Electrek quickly.
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