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
$1,914,067.91 Raised
REASONS TO INVEST
Already In Production and Sales: Not a concept, Not a prototype — after years of development, Eli’s first model is fully homologated, and we are building our first vehicles to be sold through our distributor partners in Europe!
The Next-Big-Thing in Mobility: The fast-growing market for micro-mobility in the US, EU, and China is expected to become a ~$320B market by 2030. Rapid urbanization and electrification are calling for a new type of EV!
Award-Winning: 2021 iF Award Winning product; by a world-class team of designers, engineers, and supply chain professionals; partnership with established manufacturers and major distributors!
Progress Overview
- Over 2000+ investors have joined our mission to build a new urban EV.
- Our first micro-EV model Eli ZERO is not just a concept, or a prototype— now, we are in small-batch production, already shipping to Europe.
- We are launching sales in Italy, Austria, Germany, and the Netherlands, and planning for US launch in 2023.
We are reaching the most exciting stage of our company’s development!
“EVs Reinvented for Cities”
- US is pushing for 50% of new cars to be EVs by 2030
- EU aims to turn 100% cars to ZERO EMISSION by 2035
EV is the future, but what kind of EVs would power the future urban streets?
Cars as we know them are better suited to long-distance trips on highways, and not for frequent short trips in high-density cities.
As nearly 70% of the world population is projected to live in urban areas, to keep dense urban areas livable, cities everywhere are moving 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.
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.
- Almost 50% of urban car trips in the U.S. are under 3 miles.
- 75% of US car trips are under 10 miles.
- Many downtown areas devote 50-60% of valuable urban real estate to Cars.
- Congestion already costs each American nearly 100 hrs, $1400 a year
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
A new type of EV, reimagined for 75% of urban trips
Eli reimagines personal vehicles by focusing on attributes that can drastically reduce emission and congestion 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 one of the most energy-efficient, versatile, and affordable electric vehicles designed for modern cities.
At less than half the size of a conventional car, Eli ZERO uses significantly less material and parts, This makes Eli ZERO not only affordable and low maintenance, also much more energy efficient on urban streets, and generates lower carbon footprint throughout its lifecycle.
Staring at just $12,000, Eli ZERO is half the cost of conventional compact cars. Eli ZERO’s is classified as a NEV (Neighborhood Electric Vehicle) in the US, and a Light Quadricycle in Europe. 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 microEVs
The Global Market for micro-EV, also called LSEV, has seen incredible growth in recent years, with 15.4% CAGR from 2018 to 2025. The market was valued around $2.4 billion in 2017 and projected to value at least $7.6 billion by 2025.
Micro-EV has the potential to overtake conventional highway cars as the primary personal vehicle.
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. 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 Europe, which is Eli’s entry market, smaller cars are already popular in most cities, however there are few options of micro-EVs in the L6e category. Micro-EVs in the l6e category are perfect for tight European streets.
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
Not a concept or prototype, we are already in production
After years of development, we partnered with established production manufacturers and we are already building our first production vehicles! We have also formed a partnership with an established European micro mobility distributor on sales through its wide dealerships network.
Additionally, Eli has received interest and requests from several sharing operators, dealers, campuses, real-estate developers, and consumers from around the world. And despite minimal marketing efforts, our company has received media attention.
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.
*Images are photo renderings of Eli ZERO currently under development.
The Business Model
Capital efficient + Sustainable margin
We are building a unique, asset-light approach to achieve unparalleled capital-efficiency and a sustainable business model.
*Images are photo renderings of Eli ZERO currently under development.
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.
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, 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.
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.
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.
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 🚙. After our last campaign, we are successfully building our first Micro-EV model, Eli ZERO Plus, and it’s fully road-ready for European streets.
TEAM
Marcus Li
Founder, CEO, and Director
Sabrina Yuan
SVP Business Development and Strategy & Secretary
Allen Wang
Head of Supply Chain
Taj Ahmad-Eldridge
Advisor
Gary Awad
Advisor
TERMS
Eli Electric Vehicles
Overview
PRICE PER SHARE
$5.50
DEADLINE
Apr 17, 2022
VALUATION
$31.73M
AMOUNT RAISED
$1,914,067.91
Breakdown
MIN INVESTMENT
$275
MAX INVESTMENT
$106,997
MIN NUMBER OF SHARES OFFERED
1,818
OFFERING TYPE
Equity
ASSET TYPE
COMMON
SHARES OFFERED
Class A Common Stock
MAX NUMBER OF SHARES OFFERED
636,363
Maximum Number of Shares Offered subject to adjustment for bonus shares
Company | : | Eli Electric Vehicles, Inc. |
Corporate Address | : | 525 S Hewitt St, Los Angeles, CA 90013 |
Offering Minimum | : | $9,999.00 |
Offering Maximum | : | $3,499,996.50 |
Minimum Investment Amount(per investor) | : | $275.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Class A Common Stock |
Minimum Number of Shares Offered | : | 1,818 |
Maximum Number of Shares Offered | : | 636,363 |
Price per Share | : | $5.50 |
Pre-Money Valuation | : | $31,727,866.50 |
*Maximum number of shares offered subject to adjustment for bonus shares. See bonus info below.
Voting Rights of Securities Sold in this Offering
Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 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*
Time-Based:
24 Hrs Super Early Bonus (Limited Time)
Invest within the first 24 hours and receive 15% bonus shares.
48 Hrs Super Early Bonus (Limited Time)
Invest within the first 48 hours and receive 12% bonus shares.
72 Hours Limited Bonus
Invest within the first 72 hours and receive 10% bonus shares.
First Week Exclusive Bonus
Invest within the first week and receive 8% bonus shares.
2nd Week Exclusive Bonus
Invest within the first two weeks and receive a 6% bonus shares.
1st Month Exclusive Bonus
Invest within the first month and receive a 4% bonus shares.
Amount-Based:
$550+ | Tier 1
Receive 3% bonus shares.
$1,200+ | Tier 2
Receive 6% bonus shares.
$2,500+ | Tier 3
Receive 8% bonus shares.
$5,500+ | Tier 4
Receive 10% bonus shares + exclusive investor gift package.
$12,000+ | Tier 5
Receive 13% bonus shares + name recognition on special user manual + all lower-tier perks.
$25,000+ | Tier 6
Receive 16% bonus shares + all lower-tier perks.
*All perks occur when offering is complete.
The 10% StartEngine Owners' Bonus
Eli Electric Vehicles, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class A Common Stock at $5.50 / share, you will receive 10 additional shares of Class A Common Stock, meaning you'll own 110 shares for $550. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
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.
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. Salary payments made to one’s self, a friend or relative. Any expense labeled “Travel and Entertainment”. Inter company debt or back payments.
PRESS
ALL UPDATES
06.30.22
100th Eli ZERO Shipped and Sold!
Just 2 years ago we had started our first raise on StartEngine with the goal to bring our idea to life. Now we’ve officially shipped and sold over 100 vehicles! We could not have done this without each and every one of you. We’re extremely excited to continue pushing on with additional orders and can’t wait to continue growing the Eli brand, with all of you on our team.
05.31.22
Meet us in Amsterdam at Micromobility
Meet us in Amsterdam! 🇳🇱🥳
We will be presenting Eli ZERO at Micromobility Europe this year with our Dutch distributor, check us out at booth 210! 🚙
Micromobility (https://micromobility.io/mmeurope#/) is the world’s fastest-growing mobility conference, it is an interactive, two-day celebration of small electric vehicles and their power to radically transform our cities. Stay tuned for more event photos! :)
#TeamEli
04.27.22
What’s Next for Eli Electric?
Hello Eli Family,
Our second round of funding closed 10 days ago, and we are so excited to welcome the 1,546 new investors who have joined us on our journey. We raised over $1,900,000, strengthening our belief that our flagship model, Eli ZERO, can help to build better cities for the future.
Our previous raise took us from prototype to small-batch production and European sales, so we’re beyond excited to see what this year has in store for us!
What happens now?
-
Your Investment: If you are a new investor from this round, we will create an investor account for you with our Transfer Agent, as part of the official record-keeping of your investment in Eli. Typically, 60 days after this round closes, we will begin to submit the final investor list to our transfer agent. You should expect an email from Colonial Stock Transfer to access your account.
If you are an existing investor and already have an account with us, your new investment should appear in the record of your existing account after we complete processing onboarding this round of investments.
If you are an existing investor from the previous round, and still have not set up your account with our Transfer Agent, please check your inbox/spam folder again for instructions, or email us at ir@eli.world if you need any help.
- Future updates: Please continue to follow our campaign updates and newsletter, where we keep our investors updated! We will primarily send our updates through emails.
- Future investment opportunities: Our community will be the first to know about any future investment opportunities as Eli Electric grows. If you are interested in our future raise, please SIGN UP HERE.
- Questions? Please email us at ir@eli.world
What are our plans this year?
As you may know, we are already in limited sales in selected regions(Austria, Germany, Italy and The Netherlands) in Europe. Our plan this year is to build more vehicles, scale up our production and European sales. We will also begin to make plans for US market entry.
Founding an EV startup hasn’t been easy, and we are grateful for the thousands of enthusiastic supporters who have helped us along the way. We have already beaten the odds and started actually building and shipping production vehicles, all with less than $10 million raised.
With the support of our community behind us, we are confident that we can continue blazing new trails and driving the change in personal mobility.
Thank you, and welcome to the new A to B.
#TeamEli 🚙
________
You can also follow us on Twitter (@GoEliElectric) and Instagram (@EliElectricVehicles) ✌️
04.17.22
$1,700,000 Raised! Closing TODAY
Hi Eli Family,
We have JUST reached another exciting milestone — $1,700,000 RAISED from this round.
When we first began raising on StartEngine, we were still figuring out how to get our car built, now after 2,200+ investors with us, we are already in small batch production, and shipped our production vehicles to Italy, Germany, Austria and the Netherlands, and began sales in these regions.
However, we are still at our early stage as a EV startup, our fair valuation reflects there’s much room for growth, and we will focus on scaling up our production and sales this year.
Thanks to all that have invested! If you have not, become a shareholder today at the current valuation, and let’s build a new kind of EV brand together!
04.15.22
LAST 24 HOURS to Invest in Eli ‼️
Hi Eli Family!
This round of offering will close TOMORROW!
If you haven’t joined our community of urban EV visionaries yet, now is the time!
Become a shareholder at Eli Electric today at the current valuation.
04.14.22
LAST 48 HOURS ❗️
Hi Eli Family! 👋
It’s officially the LAST 48 HOURS to invest in Eli Electric! Our community of early supporters has taken us from prototypes to small-batch production, and we are ready to go even further!
04.12.22
Just 4 days to invest in Eli❗️
Our campaign is closing in just 4 days. We are so thankful to have such a passionate group of supporters witness Eli Electric’s steady growth over the past few years – and things are only going to get more exciting from here.
The fast-growing market for micro-mobility in the US, EU, and China is expected to reach a value of ~$320B by 2030. This is your last week to become a shareholder at Eli Electric at our current valuation and get involved in this market yourself.
Join the next big thing in urban mobility now.
04.11.22
$1.5 MILLION RAISED!
Happy Monday Eli Family!
We reached $1.5 MILLION raised over the weekend! A huge THANK YOU to all of our second round investors! Your investment is pushing Eli Electric and the micro EV industry forward. We are grateful to have a community of over 2,100 supporters on board for the ride.
There are just FIVE DAYS LEFT to become a shareholder in Eli Electric at the current valuation.
INVEST NOW – bonus shares and investor perks await! 🚙⚡️
04.09.22
Founder Q&A Tomorrow!
Hi Eli Family!
If you have not RSVP-ed our Founder Q&A with Zac and Jesse from Now You Know and Disruptive Investing -- our favorite YouTube channels, be sure to RSVP at the link below! 🙋♂
🔗 RSVP: HERE
📅 Date: Tomorrow, April 10th SUN, 5:00 PM PT
❓ Submit Your Questions: HERE
This round of offering is closing in 1 WEEK!
Don’t miss the opportunity to invest at the current valuation! 🚙⚡️
04.08.22
CLOSE IN 8 DAYS❗️Q&A Reminder
Hi Eli Family!
WOW! In the past 24 hours, we’ve raised over 100k! A warm welcome to all of our new investors who decided to join Eli’s growing community of 2,100+ micro EV believers!
We are ONLY 8 DAYS away until this round of offering closes. This is your final chance to invest at the current valuation!
Got questions? Leave a comment down below, or JOIN US on our first-ever founder Q&A with Marcus in 48 hours! (RSVP ONLY).
🔗 RSVP: HERE
📅 Date: April 10th SUN, 5:00 PM PT
❓ Submit Your Questions: HERE
REWARDS
$275
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.
$550
Tier 1
Receive 3% bonus shares.
$1,200
Tier 2
Receive 6% bonus shares.
$2,500
Tier 3
Receive 8% bonus shares.
$5,500
Tier 4
Receive 10% bonus shares + exclusive investor gift package.
$12,000
Tier 5
Receive 13% bonus shares + name recognition on special user manual + all lower-tier perks.
$25,000
Tier 6
Receive 16% bonus shares + all lower-tier perks.
JOIN THE DISCUSSION
0/2500
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTS
Invest in over 200 start-ups and collectibles!
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
