SONDORS Electric Car Company

Attractive, affordable electric car

SONDORS Electric Car Company

Attractive, affordable electric car

Malibu, CA
Transportation
Technology
SONDORS Electric Car Company produces and manufactures state of the art electric vehicles that are affordable, environmentally friendly, and built for the sharing economy. We believe this raise will allow us to build a production ready prototype vehicle, bringing us one step closer to mass production and our ultimate goal of the SONDORS Network, which aims to connect SONDORS EV owners with car users who can rent vehicles at an affordable daily rate, offsetting car payments while generating income and reducing the environmental impact of the car sharing marketplace.

$446,949

raised
565
Investors
61
Days Left
$28.68
Price per Share
$80.4M
Valuation
Equity
Offering Type
$315.48
Min. Investment

$446,949

raised
565
Investors
61
Days Left
$28.68
Price per Share
$80.4M
Valuation
Equity
Offering Type
$315.48
Min. Investment

Bonus Rewards

Get rewarded for investing more into SONDORS Electric Car Company

$315+
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.
$340+
Investment
SONDORS Reservation
Be one of the first owners of a SONDORS electric vehicle. All investors in this round will be entered into the second wave of our vehicle reservation list.
$500+
Investment
Roadshow Invite
At this investment level, you will be invited to the SONDORS roadshow in a participating city near you, where you will have a chance to test drive the production-ready vehicle.
$1,000+
Investment
Priority SONDORS Reservation
Be at the top of the investor list for reservations. At this investment level, you will receive a priority spot at the front of the second wave of our vehicle reservation list.
$5,000+
Investment
Production Facility Tour in Italy
At this investment level, you will be invited to tour our production facility in Italy in order to view the real-time progress made on our production-ready vehicle. Date and time to be determined. Travel and hotel not included.
$30,000+
Investment
First Production Vehicles
At this investment level, you will move to the front of the entire vehicle reservation list, receiving a special custom edition of the Model SONDORS. Customizations to be determined based on availability and personal investor preference.

Reasons to Invest

SONDORS Electric Car Company has raised over $1.4M from more than 1,600 investors on the StartEngine platform.
We currently have accepted 1,500 deposits for the initial vehicles
SONDORS targets both electric vehicle sales and the car sharing marketplace for a huge combined potential market of $578B by 2025.

“Despite the odds, we’re primed to build a production ready prototype, the next major step in getting SONDORS EVs to customers and on the road”

Our Story


Electric transportation for everyone made possible through crowdfunding

SONDORS entered the competitive electric vehicle market because we were frustrated that an attractive and affordable option did not exist for the everyday American. Our innovation in electric bikes changed the market, as we saw no reason the cost for a bike should be in the thousands. Instead, we decided to sell an electric bike for $799.00, and we sold 35K of these bikes in the first 18 months after launch.


So, with this experience in our back pocket, we turned to crowdfunding again for our next phase in changing electric transportation. In 2017 SONDORS Electric Car Company raised just over $1 million through equity crowdfunding to build a concept prototype. Now, we’re ready to build a production ready vehicle.


Since introducing Model SONDORS, the buzz and excitement surrounding the car has been enormous. Over 1,500 individuals have placed a deposit for an initial vehicle. 


We now come back to the crowd to fund its production

Despite our success, we lacked the funding required to execute the full extent of R&D. As such, our founder personally funded the remainder of the R&D phase. We now have all the pieces ready to build a roadworthy vehicle, and believe this round will provide the funding for its production.

If we reach our maximum funding goal and conclude this round, we expect it will take us six months to build the production ready vehicle prototype. Following its completion, we plan to execute a road show, where people can ask questions and test drive the vehicle, in the following cities: Seattle, Portland, Los Angeles, Phoenix, Houston, Chicago, New York City, Baltimore, Atlanta, and Orlando.

However, we have bigger aspirations than to just manufacture and sell electric vehicles. Our goal is for everyone to be able to access and benefit from our vehicles, which got our team thinking on how we could expand our services to impact an even larger community…

The Problem


Current car usage is unsustainable

The average gas-powered car is only utilized 5% of the time and generates 4.6 tons in annual carbon emissions. They also come with high operating costs at $9,282, annually for the averagely-utilized car (based on 15k miles per year), and up to $15k for highly-utilized conventional rideshare vehicles. Cars are expected to increase by 47% in cities by 2030, contributing to city congestion, and their method of operation is fossil fuel-intensive. The planet simply cannot sustain this model. (Source)

The Solution


SONDORS EVs and Network power the eco-sharing economy

SONDORS EV’s give owners a state-of-the-art electric vehicle that we believe will be affordable, environmentally friendly, and built for the sharing economy, thereby reducing idle time and increasing income from the vehicle. The network will also offers car users convenient, secure and keyless access to a fleet of Electric Vehicles at affordable daily rates through privately owned SONDORS EV’s. Affordable and virtually no-maintenance, the SONDORS vehicles are being created for the next generation.

The Market


Two rapidly growing sectors combine to create a huge market

SONDORS combines two rapidly-growing sectors - car sharing marketplaces and electric vehicle sales. Car sharing marketplaces are projected to reach $11B by 2024 and electric vehicle sales to reach $567B by 2025. (Source)

Sources: Car Sharing & EV

Wider adoption of EV among ride-sharing fleets could increase EV penetration of miles driven from 1% in 2020 to nearly 44% in 2040, and 74% in 2050. The market for car sharing electric vehicles is growing faster than all the competition combined can satisfy.


Global Miles EV Penetration, 2019 to 2050e

(Bev Only, excludes hybrids and plug-in hybrids)

Our Traction


Successful crowdfunding and initial deposits demonstrate a market hungry for SONDORS EVs

Thanks to our StartEngine investors who contributed $1M+ in our previous Reg CF campaign, the SONDORS Electric Vehicle prototype exceeded all expectations and has been called “exquisite” and “revolutionary.” We currently have 1,500 deposits for initial vehicles and received demand for a lot more. We expect to sell 3,580 EVs in the first year, and building our production ready prototype vehicle is the next major milestone in getting to that point.

SONDORS has a huge following of individuals who support its goal and has already become the largest electric direct-to-consumer bike distributor in the US. Our existing electric products are sold in 42 countries worldwide, and we are eager to bring our electric vehicles and car sharing network to the market.

What We Do


Redefining what an electric vehicle can be and pioneering the eco-share network space

SONDORS EV challenges the design and engineering of traditional vehicles:

  • Three wheels - front wheel drive

  • Two front seats and one back seat

  • 300 mile range

  • Lithium Ion Battery Recharges 55% in <19min

  • 0 to 60 mph in 5 seconds

  • Charge with your regular 110V or 240V

  • Smartphone or tablet as the dashboard (Apple or Android)

The SONDORS Network aims to transform an electric vehicle from a depreciating commodity to an income generating asset while creating a sustainable and environmentally-focused community. Owners will have the ability to list their EV on the SONDORS Network where a participant is able to rent a vehicle at a low daily rate. The owner receives 70% of the rate, which they can automatically contribute to their monthly car payment, decreasing it or eliminating it altogether.

The Business Model


Selling EVs and building a network of owners and renters

In the first year, SONDORS expects to sell 3,580 EV’s with an estimated retail price of $19,500. While the estimated retail price was originally $10,000, we opted for a long-range battery (200+ mile range) versus an economy battery (50 mile range) as many customers expressed range anxiety. This upgrade increased the overall cost of the vehicle, but it will also help increase long-term business viability due to wider adoption.


By never owning a factory and manufacturing on-demand, SONDORS keeps the overhead production cost low, purchase price affordable, and margins high. Our company is structured as a platform that creates revenue for us and for the EV owners, with owners keeping 70% of a user’s daily rental rate and SONDORS keeping 30%. Insurance for SONDORS network will also provide an additional source of revenue.

How We Are Different


Innovative design and private ownership

The car sharing market is full of costly combustion engine vehicles made for personal use. Drawing on design and manufacturing expertise, we designed a car from the bottom up to stand up to all-day use by multiple drivers as well as capitalize on sleek design for branding. Since all our vehicles are privately owned, there is no licensing required, unlike scooter companies that leave scooters all over the sidewalk. Once we show that SONDORS vehicles are roadworthy, we do not believe we are likely to receive any pushback as roads are public thoroughfares. That is why investing at this stage is crucial, as building a production ready prototype vehicle is the next major step on the road to mass production.

The Vision


We aim to reach thousands of people in the first few years and eventually take SONDORS international

Once we are able to prove roadworthiness, SONDORS has an aggressive roadmap to change the way vehicles are purchased, delivered, and utilized. With 72k units per year available capacity, we have plenty of room to grow and scale presently with a pathway to add new manufacturers in various geographies over time to meet international demand. As we continue to make updates and improvements to the app based on feedback, we expect to be a major player in the global electric vehicle and car sharing marketplace.

Our Team


Storm Sondors is a highly-skilled specialist in design and manufacturing, and the creator of the award-winning SONDORS Electric Bike. Currently the largest electric bike manufacturer and distributor in the United States, SONDORS Electric Bikes have been sold in 42 countries worldwide.


We execute an efficient contract strategy in order to acquire the best talent and innovators from around the world for the work we need as opposed to an employee-based structure.

Why Invest


Join our community of pioneers building the future of sustainable and affordable mobility

The market is hungry for a new approach to transportation and a sustainable, shareable vehicle powering the eco-sharing economy. The feedback we are receiving from the market is that this is the right product at the right place at the right time. Now, we are inviting new and old investors alike to join us during this pivotal point in our company’s history. Building a production-ready prototype is the next major step toward getting SONDORS EVs to customers and on the road. We are building a network for the community, and want the community to be with us every step of the way.

In the Press

The Tesla of E-Bikes Founder Has Crowdfunded an Electric Car
October 10, 2016

Storm Sondors, the founder of the wildly successful crowdfunded fat tire electric bike, is back. This time with a new company and bigger ambitions: a three-wheel electric car with a base price of $10,000.

Sondors 3-wheeled EV uses new crowdfunding equity to raise $500k
November 1, 2016

The Model Sondors EV campaign had a minimum raise of $70,000, which the company raised within a day on StartEngine.

Sondors Electric Car Is Everything The Elio Is Not (w/Video)
October 7, 2016

Now Sondors is on to his next new thing — the Sondors electric car. Like the Elio, it has two wheels in front and one in the rear.

Model Sondors EV - 3-Seat EV With Long-Range Options - Starting At $10,000
October 10, 2016

The new company has revealed a 3-wheel electric vehicle with seating for 3 and a starting price of $10,000 — the Model Sondors. The new electric vehicle (EV) will reportedly be built from aluminum and available with a number of different battery pack options.

SONDERS moves up from low-cost ebikes to sub-$10K electric cars
October 7, 2016

Building on its success in the affordable ebike market, SONDORS is now looking to enter the low-cost electric vehicle sector as well.

Model Sondors EV could come to life through StartEngine crowdfunding
October 7, 2016

Meet the Model Sondors: a decently-styled, three-wheel EV with seating for three and a $10,000 price tag from the newly-formed Sondors Electric Car Company.

Offering Summary


Company

:

SONDORS Electric Car Company

Corporate Address

:

23823 Malibu Road, Suite 50 #129, Malibu, CA 90265

Offering Minimum

:

$9,980.64

Offering Maximum

:

$1,069,993.44

Minimum Investment Amount

(per investor)

:

$315.48











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

348

Maximum Number of Shares Offered

:

37,308

Price per Share

:

$28.68

Pre-Money Valuation

:

$80,384,390.04











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Perks* and Investment Incentives

Time-Based Rewards:

Super Early Bird

Invest within the first 48 hours, and receive an additional 20% bonus shares on your investment plus get a 15-minute call* with Storm, Founder & CEO of SONDORS

Early Bird

Invest within the first 10 days, and receive an additional 10% bonus shares on your investment plus get a 15-minute call* with Storm, Founder & CEO of SONDORS

*Date and time to be determined following the close of the round

Amount Based Rewards:

$340+

SONDORS Reservation

Be one of the first owners of a SONDORS electric vehicle. All investors in this round will be entered into the second wave of our vehicle reservation list.

$500+

Roadshow Invite

At this investment level, you will be invited to the SONDORS roadshow in a participating city near you, where you will have a chance to test drive the production-ready vehicle.

$1,000+

Priority SONDORS Reservation

Be at the top of the investor list for reservations. At this investment level, you will receive a priority spot at the front of the second wave of our vehicle reservation list.

$5,000+

Production Facility Tour in Italy

At this investment level, you will be invited to tour our production facility in Italy in order to view the real-time progress made on our production-ready vehicle. Date and time to be determined. Travel and hotel not included.

$30,000+

First Production Vehicles

At this investment level, you will move to the front of the entire vehicle reservation list, receiving a special custom edition of the Model SONDORS. Customizations to be determined based on availability and personal investor preference.

*Reservation list order will be determined by date committed. All perks occur after the offering is completed.

The 10% Bonus for StartEngine Shareholders

SONDORS Electric Car Company 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 10 shares of Common Stock at $28.68 / share, you will receive 11 shares, meaning you'll own 11 shares for $286.80. 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 will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$229,578.00 USD
$62,172.00 USD
Cash And Cash Equivalents
$215,078.00 USD
$62,172.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$257,844.00 USD
$92,630.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$344,335.00 USD
-$1,051,898.00 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

Come to Italy 🇮🇹 with SONDORS

4 hours ago


I'm very excited to invite you to join Team SONDORS in Italy. For the first time, we're offering an exclusive behind the scenes tour of the production facilities, and the original birthplace of SONDORS EV in Turin, Italy.

Enjoy a personal, discrete tour and meet with the design and engineering task force known worldwide for their expertise and passion for innovative automobile design and engineering. This is where some of the most sought-after and coveted modern exotics (including Ferrari) are conceived.

We hope you'll take advantage of this opportunity to join us for this exciting private tour. For more information about this bonus reward, please visit our campaign and join 560+ investors in our new round.

If you've already joined our investor community, thank you so much. We appreciate your support and can't wait to keep you informed on our progress.


All the best,
Storm Sondors

SONDORS Signs MSA w/Hinduja Tech

3 days ago

We have signed a master service agreement (MSA) with Hinduja Tech for the software development, engineering, and mass production of SONDORS EV. Hinduja Tech is a Product Engineering and Digital Technologies service provider for the automotive space, and part of the multi-billion dollar Global Business Conglomerate, Hinduja Group.

Hinduja Tech is known for its innovative engineering approach in delivering award-winning vehicle programs. Their engineering teams have a proven record for executing cutting edge vehicle solutions on time and on budget, and we are looking forward to working with them in the upcoming pre-series SONDORS EV development.

Join 540+ investors in our new round. If you've already joined our investor community, thank you so much. We appreciate your support and can't wait to keep you informed on our progress.

Make sure to share this offering with your network since the quicker we are able to raise funds, the sooner we are able to build the pre-series vehicle and move toward our next round for SOP (start of production).

SONDORS Signs MSA w/Torino Design

6 days ago

We have signed a master service agreement (MSA) with Torino Design, one of the most innovative companies of the Italian panorama, for the interior/exterior design, as well as engineering, of Model SONDORS.

Torino Design has pioneered a creative approach towards automotive design through a wide range of activities, spacing from styling to CAS 3D models, from feasibility engineering to full size models and running prototypes.

Torino Design has built a solid reputation worldwide, working efficiently and discretely to give birth to more than 200 projects, producing more than 200 full scale models for clients all over the world, including BMW, Ferrari, and Suzuki.

If you haven't already, join 530+ investors in our new round and get limited-time investors perks as we make final preparations to build our pre-series vehicle, the bridge between our prototype and production.

Early Bird Shares - 1 Hour Left

17 days ago

There is less than one hour left to get additional shares with our early bird special.

Take advantage of this offer and join 470+ investors who have helped us raise more than $390K to build our pre-series vehicle, the bridge between our existing prototype and production: https://www.startengine.com/sondors-electric-car-company

All the best,
Storm Sondors

Less Than 24 Hours for Early Bird Bonus Shares

17 days ago

Today is your last full day to receive Early Bird Bonus Shares with your investment. We have now raised more than $345K from our community. Don’t miss out on this opportunity.

If you are interested in owning a stake, and receiving brand new investor perks, please visit our offering page and join more than 400 investors by clicking here.

If you've already joined our investor community, thank you so much. We appreciate your support and can't wait to keep you informed on our progress.

All the best,

Storm Sondors

SONDORS is Back - Early Bonus Available

22 days ago

First, big thank you to our community for a great start. More than 250 of you have already invested over $200k.

For our early supporters, we put together a special 10% bonus. Make sure to get in quick.

*Only 5 days left to get 10% bonus shares with your investments*

Since our last raise, we’ve received over 1,500 deposits on initial vehicles, and the goal of this raise is help us build a pre-series vehicle, the bridge between our functional "show vehicle" prototype and production.

By investing today, you’ll be on our reservation list to purchase one of the first SONDORS vehicles when they become available.

Thank you for your support,

Storm Sondors
Founder & CEO

Show More Updates End of Updates

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