Eli Electric Vehicles

The next evolution of personal mobility

Eli Electric Vehicles

The next evolution of personal mobility

Los Angeles, CA
Manufacturing
Eli reimagines personal vehicles by creating advanced, efficient and affordable micro-EVs for daily short trips. Eli’s goal is to revolutionize urban trips, connect cities and communities in a new way that reduces congestion and pollution. We have designed an advanced micro-EV and are planning to begin production in Q4 2020, and begin sales in the US and EU.

$196,454

raised
246
Investors
$18M
Valuation Cap
5.0%
Annual Interest Rate
$250.00
Min. Investment
20.0%
Discount Rate
Conv. Note
Offering Type
12/31/22
Maturity Date
Reg CF
Offering

$196,454

raised
246
Investors
$18M
Valuation Cap
5.0%
Annual Interest Rate
$250.00
Min. Investment
20.0%
Discount Rate
Conv. Note
Offering Type
12/31/22
Maturity Date
Reg CF
Offering

Bonus Rewards

Get rewarded for investing more into Eli Electric Vehicles

$250+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$500+
Investment
Tier 1
5% bonus on the interest rate.
$1,000+
Investment
Tier 2
10% bonus on the interest rate.
$2,000+
Investment
Tier 3
15% bonus on interest + $500 discount on the Eli ZERO.
$5,000+
Investment
Tier 4
20% bonus on interest + access to exclusive colorway + all lower-tier perks.
$10,000+
Investment
Tier 5
30% bonus on interest + all lower-tier perk + name recognition on the user manual.

Reasons to Invest

The “Next-Big-Thing”: top notch product ready for production in an emerging mobility category, with fast-growing global market potential — the market for micromobility in the US, EU, and China is expected to reach $320B market by 2030
Partnerships with established manufacturers and major distributors, allows us to scale fast and reach a wide network of global dealerships
World class team of designers, engineers and supply chain professionals with know-how and experience building golf carts, vans and EVs

“EVs Reinvented for Cities”

The history of all industrial products can be summarized into a process of becoming more compact, efficient, electric, affordable, and easy to use.

It is not hard to imagine micro-EVs replacing SUVs and large vehicles to become the primary vehicles on dense urban streets of the future.

Cars as we know them are traditionally designed for long-distance travel, and not for frequent short trips in high-density cities. 


Eli is creating a new wave of EVs with a focus on making our most frequent short trips convenient, clean and affordable-- our first car, Eli ZERO, is less than half the size of conventional cars, significantly less expensive starting at $12k, and 3 to 10 times more energy efficient.


As cities everywhere move toward a high-density, low speed, low impact model, it calls for a new type of personal vehicle to be created for people to conveniently get around in.

gif

*Images are photo renderings of Eli ZERO currently under development.

The Micro-mobility market across the US, EU, and China is estimated to be a combined $320B market by 2030 — We believe our micro-EVs will be a leading segment of that growth, changing the way we commute and travel.

The Problem


Cars need to be designed for cities, not the other way around.

The proliferation of cars, especially in the urban environment, has brought us further apart —more cars mean more urban sprawl, more congestion, less public space, and irreversible climate impact.

gif

We need to scrap the “highway-centric” model of urban development and prioritize the ease and convenience of local trips. 


In US cities today, almost half of all car trips are under 3 miles — yet conventional cars are still designed for long-distance trips on highways, and not for dense urban streets. 

Today’s cars are costly, high maintenance, over-engineered, and inconvenient for short trips under 10 miles—a segment that makes up 75% of all urban trips. Cars need to be redesigned to better fit into cities, and serve the way people actually travel.

The Solution


Reimagining 75% of car trips by building the most compact, efficient, versatile and affordable EVs

Eli reimagines personal vehicles by focusing on attributes that make daily short trips convenient and fun, and at scale, can drastically reduce emission and congestions in cities and communities, unclog urban streets and make cities more livable and friendly.

Our first vehicle, Eli ZERO, is built to make the majority of urban trips convenient and fun. Eli ZERO is the most energy-efficient, versatile, and affordable electric vehicle designed for modern cities.

GIF

*Images are photo renderings of Eli ZERO currently under development.

Staring at just $12,000, Eli ZERO is not only half the size but also half the cost of conventional compact cars. Eli ZERO’s is classified as a NEV (Neighborhood Electric Vehicle). On urban streets, Eli ZERO’s energy efficiency (285+MPGe) is several times more efficient than conventional cars.

*The image contain a photo rendering of Eli ZERO currently under development.

The Market


Increasing urbanization + EV adaptation = perfect market opportunity for micro-EVs

The Global Market for micro-mobility vehicles has seen incredible growth in recent years, with 15.4% CAGR since being valued around $2.4 billion in 2017 and projected to value at least $7.6 billion in 2025.


Micro-EV has the potential to overtake conventional highway cars as the primary personal vehicle. Data from an extensive study by the Southern California Association of Governments concluded Micro-EV has the potential to account for 83% of vehicle trips under 5 miles and is the best solution for short trips.

In the US alone, many homes are located within just miles of daily amenities, yet there are few options for easy and affordable local trips.

Recent shocks to the system caused by the COVID-19 pandemic will also likely have an effect, with McKinsey analysts predicting an increased desire for personal mobility solutions, and a long term decrease to vehicle miles traveled.

In cities all over the world, convenient access to private local trips are proven to be essential to our safety and wellbeing.

Our Traction


Ready for production and sales in Q4 2020

We have perfected our design and worked diligently to establish a solid proof of our concepts, as well as developed our supply chain, engineering, and tooling developments. After conducting multiple rounds of pre-production prototypes and testing, we are already preparing for production and will launch in Q4 and begin taking orders in selected regions in the US and EU.

We have partnered with an established automotive manufacturer on production, as well as a European distributor group, which gives us access to thousands of dealerships all over Europe. 


GIF

We have also received interest and requests from several sharing operators, dealers, campuses, real-estate developers, and consumers from all over the world. We have received media attention despite little marketing efforts thus far.

What We Do


Obsessively engineered inside and out — to deliver a category-defining mobility experience

Our Micro-EV platform architecture is built for highly advanced micro-mobility, making life in the city much easier. The EVs have automotive-grade controllers and CAN network-enabled feature expansions.

With hybrid aluminum chassis and light composite materials, our engineering opens up the world to an entirely new experience — one of openness, simplicity, and accessibility that ushers in a brand new urban lifestyle.


The Business Model


Capital efficient + Sustainable margin

Not only is our product energy-efficient and environmentally sustainable, but we are also building a unique, asset-light approach to achieve unparalleled capital-efficiency and a sustainable business model.

Eli ZERO starts at $11,990 and €10,999 in the US and Europe respectively. Our initial sales will be via EU distributors and US dealers, with direct sales to fleet operators.

*Images are photo renderings of Eli ZERO currently under development.

How We Are Different


Redefine an EV category through purpose-built local use vehicles

With Over 5 years in R&D, we have developed special structure, techniques, supply chain partnerships, and material know-hows tailored for micro-EV products. Eli is the parent to its subsidiary in Beijing, China, which has been operating and developing our overseas supply chain since 2015.


Many of our competitors in the US NEV industry are golf cart manufacturers who repurpose their products to meet street-legal requirements. This model may cut costs for the producers, but results in a product that doesn’t serve their end-users very well, and, accordingly, they have yet to take off in the market.


There are very few options for purpose-designed NEVs for urban use in the US market. None offer a lithium battery, enclosure, and AC.


We believe our platform is in a league of its own when it comes to design, engineering, and anticipating the needs of our target market.


GIF

*The Eli Zero is currently under development and pre-production

The Vision


We want to lead a new mobility movement— through an exciting range of micro-EV products

Eli ZERO is just a beginning for us. After the launch of our first model, we are looking toward expansion into a range of other micro-EV products, services, and technologies, all of which will assist in our goal of establishing Eli as a top EV brand for urban mobility.

*Images contain photo renderings of Eli products currently under development.

Our powerful micro-EV platform can be easily developed into various applications, we hope to expand our lineup, and form partnerships, and explore new revenue streams such as subscription and lifecycle services.

OUR LEADERSHIP


Architects, engineers, and business strategists focused on a new type of urban living

Founder and CEO Marcus Li was inspired by his training as an architect to found Eli and enhance the urban experience through mobility innovation. Formerly, Marcus was the Chief Architect at Greenman Machinery where he also led R & D for a golf cart.


SVP BD and Strategy Sabrina Yuan is a vet of the operation, marketing, sales, and regulatory environments with experience across global markets. She is the former VP of Porsche Group China.


Head of Supply Chain Allen Wang has over 14 years in supply chain management and quality assurance with leading Chinese LSEV Manufacturers and was the Former VP of Procurement at Yogomo.

Why Invest


We’re moving toward the future of urban transportation

We have all seen the ways in which services like Uber and Lyft have transformed traditional cars into instruments of public transportation, which is all heading in the direction of making long-distance travel more affordable. Once automated driving technology catches up, these vehicles will be running 24/7 in the periphery of urban life, without ever having to be parked.


This will open up space for a new type of vehicle for frequent daily trips in cities, without the cancerous congestion or fetishization of power and speed, and micro-EVs like Eli ZERO can replace SUVs and large vehicles to become the primary vehicles on dense urban streets in the future. 


*Images contain photo renderings of Eli ZERO currently under development.

Join us as we gear up for that “Ah-hah!” moment when cities around the world will be ready for a different type of transportation experience that empowers communities rather than divides them.

*The Eli Zero is currently under development and pre-production

In the Press

Eli Zero Electric Vehicle: They might be onto something here
January 1, 2017

The Eli Zero looks like it belongs on another planet…upon further inspection you realize the inventors may be onto something.

Eli Zero, concept elettrico per la città
January 1, 2017

It has everything to look interesting.

Eli Zero is the electric Smart Fortwo-Renault Twizy mashup you've been craving
January 1, 2017

Eli Zero is the electric Smart Fortwo-Renault Twizy mashup you've been craving

Smaller, lighter, greener: are micro EVs the future of city transport?

Eli envisions a future where low speed personal vehicles are used for central travel within cities.

CES showcases auto suppliers and startups

what may be the youngest automaker in the world revealed its first car.

the eli ZERO aims to transform how we engage with our cities
January 1, 1970

the eli ZERO aims to transform how we engage with our cities

Ars Technica

Autonomous cars won’t solve traffic, but the Eli Zero could

The Drive

The Eli Zero Takes a Unique Approach To Electric Mobility

Clean Technica
January 1, 1970

Cities Are Changing, From A To B With Eli ZERO

Digital Trends

Eli is betting you’ll want to cruise the hood in this two-seater ‘NEV’

Offering Summary


Company

:

Eli Electric Vehicles, Inc.

Corporate Address

:

525 S Hewitt St, Los Angeles, CA 90013

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$250.00











Terms


Offering Type

:

Convertible Promissory Notes

Type of Equity Converted Into

:

Class A Common Stock

Conversion Trigger

:

$500,000.00

Maturity Date

:

December 31, 2022

Valuation Cap

:

$18,000,000.00

Discount Rate

:

20.0%

Annual Interest Rate

:

5.0%
















What is a Convertible Note?

A convertible note offers you the right to receive Class A Common Stock in Eli Electric Vehicles, Inc.. The amount of Class A Common Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $500,000.00 in a qualified equity financing. The highest conversion price per security is set based on a $18,000,000.00  Valuation Cap or if less, then you will receive a 20.0% discount on the price the new investors are paying.  You also receive 5.0% interest per year added to your investment.  When the maturity date is reached, if the note has not converted then you are entitled to receive Class A Common Stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).



*Annual Interest Rate subject to adjustment of 10% bonus for StartEngine shareholders. See 10% Bonus below

COVID Relief

This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).

Expedited closing sooner than 21 days.

Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and August 31, 2020, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).

Please note that this Convertible Note will convert to Class A Common Stock however this will not contain any voting rights and will have a Voting Proxy. Subscriber hereby agrees that once he or she receives the underlying shares of the Securities in this offering shall grant the Company a proxy and allow the Company’s CEO to vote their shares on all matters submitted to a vote of such Subscriber, including the election of directors, and to execute all appropriate instruments consistent with this Agreement on behalf of such Subscriber if, and only if, such Subscriber fails to vote all of such his or her shares or execute such other instruments in accordance with the provisions of this Agreement within five (5) business days of the Company’s or any other party’s written request for such written consent or signature. The proxy and power granted by Subscriber pursuant to this Section are coupled with an interest and are given to secure the performance of such party’s duties under this Agreement. Each such proxy and power will be irrevocable for the term of this Agreement. The proxy and power, so long as any party hereto is an individual, will survive the death, incompetency and disability of such party or any other individual holder of Subscriber, as applicable, and, so long as any party hereto is an entity, will survive the merger or reorganization of such party or any other entity holding any such Securities. The proxy will be irrevocable and will remain in effect until the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale of common stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the common stock.

Investment Incentives and Bonuses*

Time-Based:

Friends and Family Early Birds

Invest within the first 48 hours and receive a 50% bonus on the convertible note interest rate.

Super Early Bird Bonus

Invest within the first week and receive an additional 30% bonus on the convertible note interest rate.

Early Bird Bonus

Invest within the first two weeks and receive an additional 20% bonus on the convertible note interest rate.

 

Amount-Based:

$500+ | Tier 1

5% bonus on interest rate 

$1,000+ | Tier 2

10% bonus on interest

$2,000+ | Tier 3

15% bonus on interest + $500 discount on the Eli ZERO 

$5,000+ | Tier 4

20% bonus on interest + access to exclusive colorway + all lower-tier perks

$10,000+ | Tier 5

30% bonus on interest + all lower-tier perk + name recognition on user manual

The 10% Bonus for StartEngine Shareholders

Eli Electric Vehicles, Inc. will offer 10% additional bonus interest for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

Eligible StartEngine shareholders will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering. This means your annual interest rate will be 5.5% instead of 5%.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

*All perks occur when the offering is completed.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Any expense labeled “Administrative Expenses” not strictly for administrative purposes. Any expense labeled “Travel and Entertainment”. Salary payments made to one’s self, a friend or relative.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$3,679,014.00 USD
$0.00 USD
Cash And Cash Equivalents
$380,739.00 USD
$0.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$4,205,796.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$2,448.00 USD
$0.00 USD
Costs Of Goods Sold
$2,565.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$1,647,632.00 USD
$0.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Sneak Peek: Exclusive Color Option

17 days ago

We built a test vehicle, in an exclusive new color - Baby Blue. Inspired by the airy hues of the autumn sky, this color option will be made available first to StartEngine investors.



Eli ZERO Off-Tool Test Vehicle Completed!

26 days ago

Following up on yesterday's update . . .

We have completed our FIRST EVER off-tool test vehicle, where each and every single vehicle part used is a production part or made on production dies/tools. This is a significant step towards Eli ZERO’s final production. Previously we have built multiple rounds of prototypes and they are already under various tests and road tests.



Eli ZERO Progress Update - Our First Ever Off-Tool Test Vehicle

27 days ago



Notice of Funds Disbursement

27 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Eli Electric Vehicles has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Eli Electric Vehicles be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Thank You!

about 1 month ago

We wanted to thank all of our early investors for believing in Eli and joining us on this journey. We had a great start to the campaign and raised over $65,000 in the first 2 days alone. Our hope is to continue to ride this momentum and raise even more and to bring the Eli ZERO to market as soon as we can. Thanks again, we really appreciate your support.

Show More Updates End of Updates

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