Savic Motorcycles, the Melbourne-based motorcycle manufacturer, will begin delivering Australia’s first premium high-performance electric motorcycles in October, following the completion of a successful equity crowdfunding campaign.
The company reached its minimum funding target in just 72 hours, and went on to raise $1,224,000 from 411 individual investors. The result underscores the strong support of the Australian community for manufacturing innovative electric vehicles.
The funds raised through the Equitise crowdfunding platform will enable Savic Motorcycles to buy production parts and commence assembly of its first C-Series customer bikes, as well as installing critical machinery in its West Melbourne workshop.
From that location, they can produce about 40 vehicles a month. The high-performance electric C-Series has already attracted more than 250 pre-orders, equating to over $6 million in future revenue.
“We’re really humbled by the response from the public, particularly in the current economic climate,” said 30-year-old founder Dennis Savic (pictured), who began developing the C-Series while working for Ford.
“The fact that so many people have chipped in from their savings in the current economy shows just how much Australians want to support Australian innovation and ride a motorcycle developed in their country,” he added.
“Our success says just as much about our wonderful customers as it does about our product.”
Savic Motorcycles has gained significant traction in the market with its cutting-edge electric motorcycle designs, offering exceptional performance, efficiency and sustainability.
Starting from $19,990 ride away for the entry-level model, the company’s mission is to provide competitively-priced, high-performance bikes direct to customers, which will put Australia on the global motorcycle map.