ELI Zero Production Begins - European Rollout Announced

Eli Electric Vehicles Commences Production of the Eli Zero

Eli Electric Vehicles, a nascent manufacturer of compact electric vehicles, has initiated production of its primary model, the Eli Zero. This micro EV, designed specifically for urban commuting, is now entering the production phase.

Initial European Rollout and Pricing

The company intends to distribute initial, limited quantities of the two-seater EV to distributors throughout ten European nations in the coming months. The starting price for the Eli Zero is set at $11,999.

The market for micro-electric vehicles is expanding, with several compact quadricycles recently introduced, including the Renault Twizy, Citroën Ami, the tilting Triggo EV, and the solar-powered Squad Mobility vehicle.

In terms of cost, the Eli Zero positions itself towards the higher end of the price range, comparable to the Twizy, which begins around $16,000. Conversely, the Ami is priced at approximately $6,000, while the Squad car costs $6,790.

Strategic Focus on Europe

Despite being headquartered in Los Angeles, Eli Electric Vehicles is prioritizing a European market entry. This decision is partly influenced by current geopolitical factors and the complexities of achieving street legality across different U.S. states.

According to Marcus Li, CEO and founder of Eli, varying state regulations regarding street-legal vehicle criteria present a significant challenge for a U.S. launch. Europe, however, offers a more streamlined regulatory environment and a pre-existing acceptance of smaller, slower vehicles.

European Urban Trends and Vehicle Specifications

“Many European cities, such as Paris, have implemented a strict speed limit of 30 kilometers per hour (19 mph),” Li explained to TechCrunch. “We anticipate this trend will continue in cities like Vienna and Amsterdam.”

Constructed from recyclable polypropylene and high-strength aluminum, the Zero boasts a maximum speed of 25 mph. Its dimensions are approximately 7 feet in length, 4.5 feet in width, and 5 feet in height, offering 160 liters of storage space.

The vehicle’s battery provides a 5.8 kWh capacity, enabling a range of 50 miles. Charging from 0% to 100% takes 2.5 hours using a 220-volt outlet.

Features and Customization Options

The micro-vehicle incorporates power-assisted braking and steering, a rear camera, a parking sensor, and interior amenities such as a USB charging port, cup holders, heating and cooling, a tiltable sunroof, and a 7-inch dashboard display.

Customers can choose from pearl white and silver as standard colors, with graphite and baby blue offered as premium options.

Crowdfunding and Investment

Eli Electric Vehicles has recently launched an equity crowdfunding campaign through the StartEngine platform. As of the publication date, the company has secured $224,705 in funding to support further production.

Li noted that current reservations for the Zero exceed the available vehicle supply, which he views as a positive situation.

Previously, Eli raised approximately $1.4 million on StartEngine, bringing the total funding raised to over $6.5 million.

VC Funding and Car-Sharing Considerations

The company explored venture capital funding last year, but potential investors primarily expressed interest if Eli incorporated a car-sharing business model.

“We even contemplated a pivot towards car sharing due to the feedback from most institutional investors,” Li stated. “Their investment model differs from traditional hardware companies, and they favored a car-sharing, high-valuation approach for a return within three years.”

One investment group was prepared to invest contingent upon Eli managing its own car-sharing platform, but this occurred just before the pandemic, and Li ultimately decided against the shift.

Distribution Strategy and Future Goals

“We are adopting a conventional sales approach,” Li clarified. “We are not pursuing a direct-to-consumer model. We are collaborating with an established distributor, KSR Group, who will initially launch in Austria, Germany, and Switzerland, followed by expansion into other European countries.”

Partnering with a distributor allows Eli, as an early-stage startup, to outsource essential functions like servicing, deliveries, and test drives.

“Our objective is to transform urban transportation, connecting cities and communities in a manner that reduces congestion and pollution,” Li stated. “As urban areas grow and the climate changes, there is a growing need for micro-EVs like the Eli Zero, which are energy-efficient and environmentally sustainable.”

Correction: Eli Electric will be rolling out to 10 European countries. A previous version of this article stated 13 based on initial information from the company, but has been updated to reflect the most updated number.