Eli Electric Vehicles offering is now closed and is no longer accepting investments.
INVEST IN ELI ELECTRIC VEHICLES TODAY!
The next evolution of personal mobility
$1,378,349.29 Raised
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
Campaign Closing In
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“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.
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*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.
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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.
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*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.
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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.
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*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
ABOUT
HEADQUARTERS
525 S Hewitt St
Los Angeles, CA 90013
WEBSITE
View Site
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.
TEAM
Marcus Li
Founder and CEO
Allen Wang
Head of Supply Chain
Taj Ahmad-Eldridge
Advisor
Gary Awad
Advisor
Sabrina Yuan
SVP Business Development and Strategy
TERMS
Eli Electric Vehicles
Overview
INTEREST RATE
5.0%
MATURITY DATE
Dec 31, 2022
VALUATION CAP
$18M
AMOUNT RAISED
$1,378,349.29
Breakdown
MIN INVESTMENT
$250
DISCOUNT RATE
20.0%
OFFERING TYPE
Convertible Notes
TYPE OF EQUITY
Class A Common Stock
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.
PRESS
ALL UPDATES
09.07.21
Our Labor Day Weekend with Eli ZERO
Hi Eli Family!
We enjoyed a good picnic with friends, riding around a farm in an Eli ZERO.
Hope y’all had an awesome Labor Day weekend!
In case you missed our last update, as an investor, since our previous round closed a month ago, here are what to expect next:
Future Updates: we will keep you updated on your investment and send quarterly updates of our company's activities.
Your Investments: For questions on your convertible notes investment, click HERE.
Have Questions? You can reach out to us at ir@eli.world if you have any questions.
On that note, Eli Electric may be launching a new round of crowdfunding in the future! Before we are able to officially announce the offering, we want you to have the chance to be the first to know when we launch a new campaign. Please subscribe by clicking the button below.👇
Don’t miss the next opportunity to invest in Eli...
If you missed this round, please follow us via the link below, and make sure not to miss the next opportunity to become an early investor in Eli.
If you are already an investor, please continue to support us as we grow! This is just the beginning of an exciting journey to change urban transportation!
DISCLAIMER
NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT IS FILED AND ONLY THROUGH AN INTERMEDIARY’S PLATFORM. AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. "RESERVING" SHARES IS SIMPLY AN INDICATION OF INTEREST.
08.31.21
🚙Thank You, and What’s Next for Eli?
As an investor, here are a few important things that you need to know.
Future Updates: we will keep you updated on your investment and send quarterly updates of our company's activities;
Your Investments: For questions on your convertible notes investment, click HERE;
Have Questions? You can reach out to us at IR@eli.world if you have any questions;
On that note, Eli Electric may be launching a new round of crowdfunding in the future! Before we are able to officially announce the offering, we want you to have the chance to be the first to know when we launch a new campaign. Please subscribe by clicking the button below👇
Don’t miss the next opportunity to invest in Eli...
If you missed this round, please follow us via the link below, and make sure not to miss the next opportunity to become an early investor in Eli.
If you are already an investor, please continue to support us as we grow! This is just the beginning of an exciting journey to change urban transportation!
Eli ZERO in Italy
DISCLAIMER
NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT IS FILED AND ONLY THROUGH AN INTERMEDIARY’S PLATFORM. AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. "RESERVING" SHARES IS SIMPLY AN INDICATION OF INTEREST.
07.27.21
🔥THIS IS IT! Current Offering Closing SOON
Together, we raised over $1.35 million from more than 1,500 investors!
We are thrilled to see this result and receiving so much encouragement from all of you. And with your support, we've hit many critical milestones this year! Eli ZERO is now fully road-ready for European streets, and we are already building them in small batches.
Our current round of offering, at its current valuation cap, ends in less than 48 HOURS; if you are not yet an investor, join us now, and let's build a different kind of EV brand together!
07.21.21
🚙 ONLY 1 WEEK LEFT! ⚡️
ONLY 1 WEEKS LEFT to participate in this round
What a remarkable journey it has been...
Eli’s first-ever crowdfunding campaign is officially closing at its current valuation cap in 7 days.
A big THANK YOU to all of our supporters and investors along the way!
This year we have achieved the most important milestone for any EV startup -- we are already starting production and building our vehicles in limited capacity -- we are finally reaching the most exciting stage of our company’s development! We have also welcomed over 1400 new investors to join us in building a new kind of EV company.
As the countdown continues, you are still able to make your investment at the current valuation cap. Don't miss this opportunity and join us now!
And lastly, some photos of Eli ZERO on European streets -- we are beyond excited to bring more Eli ZEROs to the streets of Europe, and later to the U.S.! Stay tuned for exciting news in the coming months!
07.14.21
ONLY 2 WEEKS LEFT!
Don’t miss out…ONLY 2 WEEKS LEFT!
With ONLY 2 weeks left of this round, now is the last chance to join this round!
With your generous support, our first vehicle Eli ZERO, not only successfully completed its design, engineering, tooling, varies stages of prototyping and validation… it is also homologated in Europe, and certified to sell and to drive on the street. We’ve already began small-batch in production, and we are now finally reaching the most exciting stage of our company’s development!
Join us on our journey, and become a proud early shareholder of Eli Electric Vehicle today.
06.24.21
🆕 Sneak Peak of a New Feature!
At Eli, our engineers are constantly toying with new ideas and building new features.
By popular requests, our engineers are developing a new vehicle option, allowing Eli ZERO to be equipped with a media receiver and a sound system.
Here’s an exclusive preview of a 9’’ touchscreen display on an Eli ZERO, equipped with Apple CarPlay and Android Auto, allowing users access to messages, music, navigation and even Siri.
Investments on StartEngine directly fund our progress. And thanks to our investors, our engineers are able to keep developing new exciting features for Eli ZERO!
👉Become an investor now👈 and join our community of investors to change the future of mobility.
05.27.21
May Update - Small Batch Production !
Dear friends of Eli,
As you may know, we are currently at the crucial stage of Small Batch Production, which is a process where we produce the Eli ZERO in limited quantities. In this process we take time to assemble each vehicle carefully, extensively inspecting and road testing every single vehicle we build, making production adjustments to improve vehicle quality and refining the assembly process. At this stage, it’s important that we take the time to improve build quality.
Our team is working hard, and we are so proud to be at this last stage of zero to one, sending Eli ZERO off the factory line!
Thanks again for investing in Eli, and pushing micro-mobility forward. Your support directly powers our progress, and funds our production.
We have more exciting updates to come as we prepare to release the Eli ZERO to the world!
05.18.21
Notice of Funds Disbursement
[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
05.12.21
We've Extended Our Raise!
Since we began our Crowdfunding campaign a couple of months ago, we quickly and successfully raised around $1M from over 1,000 investors.
We not only hit our maximum goal, but oversubscribed with more investors wanting to join in on our journey.
We are excited to announce that we have extended our maximum raise for a limited time, to welcome more people to invest in our future, and our vision of personal mobility.
Your investments directly contribute to our progress. Thanks to you, we have made a lot of progress from development to production, braking ground at this critical and also most exciting stage of any hardware startup!
We have many updates coming that we can’t wait to share with you in the coming weeks.
05.03.21
Eli WON the iF DESIGN AWARD 2021!
Eli strives for innovation in designing and builiding a new breed of personal vehicles that respond to the dynamic transportation demands of modern cities
We are proud to announce, that Eli Electric Vehicles is a winner of this year’s iF DESIGN AWARD, the world-renowned design prize.
Eli ZERO was recognized by world's top design community as a winner in the Automobiles / Vehicles category. Each year, the world’s oldest independent design organization, iF International Forum Design GmbH, organizes the iF DESIGN AWARD.
Eli ZERO won over the 98-member jury, made up of independent experts from all over the world, with its category-defining design— simple yet advanced, Eli ZERO is the next generation of personal vehicles. It has completely reimagined NEV category, and created a zero-emission vehicle intended to make daily short trips easy and fun. The competition was intense: almost 10,000 entries were submitted from 52 countries in hopes of receiving the seal of quality.
More information about Eli ZERO can be found in the “Winners” section of the iF WORLD DESIGN GUIDE. (https://ifworlddesignguide.com/winners/if-design-award-2021-entries/product-design-awards-2021?filter=%7B%22filters%22%3A%5B%7B%22type%22%3A%22categories%22%2C%22ids%22%3A%5B2456%5D%7D%5D%7D#/pages/page/entry/308861-eli-zero)
REWARDS
$250
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
Tier 1
5% bonus on the interest rate.
$1,000
Tier 2
10% bonus on the interest rate.
$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 the user manual.
JOIN THE DISCUSSION
0/2500
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
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