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Investor Report Q1 2023 – Status Development
The financing round with FunderNation was closed on January 16, 2023 with 766 investors and a volume of € 1,446,983. The funding target of €2 million was therefore not quite reached, which is why the order for some components for series delivery had to be postponed for the time being. However, the sum raised will allow the development of the electrical and electronic (EE) architecture, the chassis and the frame structure to continue at a reduced pace.
The missing capital is to be raised by increasing the advance payment rate on pre-orders. Completion of the driver test vehicle is scheduled for Q2 2023, followed by timely further development into two near-production prototypes. The impact on the start of series production (SOP) cannot yet be conclusively determined. However, in order to keep the pressure on development to succeed high, a target date for the start of series production is still being maintained in 2023.
Milestones in Q1
- Start of final development of the frame structure (BIW), chassis parts and EE architecture.
- Completion of the 1st floor of the production hall
- Hiring of a first new TWIKE mechanic for workshop and production
- Placing of order for the production of the chassis parts for the pre-series.
- Hardware freeze of the EE architecture (approx. 95% completeness)
With 99 new TWIKE 5/6 reservations, the total number of advance reservations increased to 2,229. At the same time, 42 new TWIKE 5/6 down payments were recorded in the amount of €345,273.23.
Many thanks to all pre-orderers and investors.
If you have any questions about an investment or are interested in a test drive, we would be very happy to hear from you.