UK EV startup Cost Vehicles has introduced a recent breath of life into its bespoke electrical muscle automobile enterprise. The corporate has introduced new possession, which intends to proceed and expedite the event of its flagship mannequin, the ’67, based mostly on a basic Ford Mustang.
Cost Vehicles emerged as a startup in 2016 and is headquartered a couple of minutes outdoors London. The corporate’s preliminary purpose has been to develop and ship its flagship product, the ’67 EV, as seen beneath. The ’67 is predicated on the 1967 Ford Mustang Fastback and required a license from the American automaker to make use of its physique parts.
The corporate beforehand shared plans to construct solely 499 examples of this electrical muscle automobile, however nearly a decade later, potential prospects are nonetheless ready.
Whereas we have now been following Cost Vehicles for a while, there’s a purpose we haven’t coated the corporate. Its flagship BEV is cool as hell however has all the time given us the sensation that it runs on pure vapor. Most startups can construct a prototype, however as we all the time say, scaling is difficult.
There’s no higher proof of this battle than the information that got here out of Cost Vehicles HQ in Could 2024, stating that it had entered administration within the UK and a licensed insolvency practitioner, on this case, Mark Smith and Stephen Cork of Cork Gully LLP, had been appointed as directors to deal with the enterprise, its affairs, and mental property.
The choices had been to dump items of the enterprise or attempt to salvage it with recent buyers keen on taking on. Fortunate for Cost Vehicles, a gaggle of personal buyers has come to the rescue and can attempt to choose up the place the unique house owners left off in creating and delivering a bespoke electrical muscle automobile.
Cost hopes to dwell on and ship its electrical muscle automobile
Based on a press launch revealed from the UK early this morning, a consortium of personal buyers has acquired Cost Vehicles. It plans to expedite the ultimate growth of the ’67 electrical muscle automobile at a brand new state-of-the-art world headquarters based mostly in Silverstone, UK. Paul Abercrombie, who took over as Cost CEO final November, spoke in regards to the new possession and the alternatives it should carry the British EV startup:
On behalf of the consortium, I’m delighted to announce the acquisition of Cost Vehicles. The ‘67 establishes a brand new class of EV – and we are going to now speed up ultimate growth at our new world HQ in Silverstone, UK, quickly delivering this thrilling luxurious car to prospects. The Cost model has enormous world potential, and we stay up for revealing extra particulars very quickly.
Whereas we now know the way forward for Cost Vehicles’ electrical muscle automobile is within the palms of this consortium at a brand new headquarters, the remainder of its plans stay personal for now. We have no idea if the brand new house owners will persist with the unique manufacturing targets of 499 builds or go smaller or bigger.
From what we will inform, the specs of the ’67 will stay the identical because the reborn startup works by means of its ultimate growth stage, as outlined above. The electrical muscle automobile based mostly on a basic Ford has a 63 kWh battery that delivers 200 miles of vary and powers quad motors that may attain 400 kW of peak energy (1,520 Nm of torque). The BEV can journey 0-60 mph in 3.9 seconds and recharge at a DC fee of as much as 50 kW.
Cost Vehicles guarantees to disclose future plans “imminently.” Examine again with Electrek quickly.
FTC: We use earnings incomes auto affiliate hyperlinks. Extra.
