One of the most frequently asked questions surrounding SONDORS Electric Car Company is about our production and delivery timeline. The truth is, our timeline is very dependent upon funding.
Let me take a step back and be brutally honest regarding our previously announced deadlines.
Since being founded in 2017, I had ambitious goals to meet, but once the rubber hit the road, I realized the execution is the least of our concerns.
The biggest hang up has been fundraising.
Keep in mind, we got so far with just under $1.5 million raised from previous rounds and our vehicle deposits, and that's what companies in this field spend for lunch.
With the funds raised to date, we have built a functional prototype, which can be seen in action on our StartEngine page. Now, we are raising funds to build a pre-series vehicle, the bridge between said prototype and production.
In full transparency, we need to fully raise the funds this round in order to move forward with building the pre-series vehicle — which is expected to take six to nine months following the close of this round.
This round is set to close in two weeks, but if we don't raise the full amount, we are going to need to extend the campaign before we can move forward.
Keep in mind that it is completely normal for startups to require funding in order to move on to their next major milestones.
The only difference is that instead of going after big institutional investors, we are inviting our fans and future customers to own a piece of the company and the potential to grow with us.
The last company I founded, SONDORS Electric Bikes, got its start with crowdfunding. I wanted to stay true to my roots and do the same with SONDORS Electric Car Company.
With that being said, once we have fully closed this round to build the pre-series vehicle, we will require additional funding for tooling, engineering, etc. in order to move into SOP (start of production), which is expected to take place fifteen to twenty-two months following these raises.
As you can see, it would not be wise to set a concrete date at this point in time since it is wholly dependent on raising funds in order to reach major milestones.
Although this round is set to close in two weeks (since we are required to set a deadline for this type of offering), we can't base the timeline from that particular date since we might need to extend in order to fully close out this round.
So, the sooner we are able to raise funds and close out this and future rounds, the sooner we will be able to move into production and get our vehicles out to customers and on the road — which is what we want more than anyone.
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Lastly, keep in mind that Tesla, a company with institutional funding, delivered their first vehicle 5 years after being founded — and we were only founded 3 years ago and have made great progress to date on our shoestring budget!
All the best,