Ireland’s answer to Tesla is raising £150,000 in seed funding

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  • Fintos Electric Cars, an Irish electric vehicle (EV) startup that has its origins in an EU-funded programme run by Queen’s University Belfast, Dublin City University and Dundalk Institute of Technology, is planning to raise £150,000 in seed funding for the development of its first working prototype.

    The seed capital will be raised through one of the UK’s leading crowdfunding platforms, Seedrs, with the crowdfunding campaign due to go live next month.

    Founded in 2015 and headquartered in County Roscommon, Ireland, Fintos Electric Cars is currently working to develop a lightweight composite electric car called the Alex eRoadster, which it expects to begin selling worldwide in 2019.

    The startup was founded by Tom Finnegan, a seasoned entrepreneur with more than 30 years’ experience in the transport, digital technology and green energy sectors, who serves as the company’s CEO. 

    Mike Keane, who previously worked as head of engineering at Williams F1, led the Williams team that built stunt cars for the James Bond film Spectre, and was lead engineer on Nissan’s electric vehicle concept car, the Bladeglider, joined Fintos Electric Vehicles in October and now serves as the startup’s lead engineer.

    Fintos has already developed a pre-prototype vehicle, modelled on the Lotus 7, in order to research how composite materials can help reduce the weight of the car, but will use the seed capital to start work on building a working prototype before full scale production begins in 2019.

    The Alex eRoadster, which will be a two-seater electric car with clamshell-like doors that lift upwards rather than outwards, will be a long-range vehicle with a range of almost 500km. The car is expected to retail at €65,000 when it goes on sale in two years’ time.

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