An unnamed medium-sized family business from Baden-Württemberg that manufactures drive components is leading the financing round for Evum Motors. Bayern Kapital, the Bavarian Growth Fund, and several private investors are also participating in the Series A round.
With the fresh capital, the company plans to take the final steps toward series production. The first fully electric aCar is scheduled to be completed at the production facility in Bayerbach, Lower Bavaria, before the end of this year. The first vehicles are scheduled for delivery in early 2021.
The aCar was designed as an all-purpose vehicle for agriculture and forestry, trade and industry, municipal use, and leisure. It features all-wheel drive and can carry a payload of up to 1,000 kilograms. Its range is up to 200 kilometers. The battery can be charged at any standard 230 V outlet or 400 V power outlet. The company currently employs over 50 people. Martin Soltés, one of the two founders and managing directors of Evum Motors, says:
"Whether with a tilting loading platform for bulk goods in the construction and trades, in vineyards or gardening and landscaping, in municipalities, the tourism industry, or for the transport of goods in retail and wholesale trades – our aCar has a wide range of possible applications. We were looking for strong financial support to make the leap to series production and are therefore delighted that we were able to attract Bayern Kapital, an experienced investor in the industry, to our innovative vehicle concept."
“aCar from Evum Motors covers a wide range of applications”
Bayern Kapital’s investment in Evum Motors is financed equally by the ERDF Innovation Fund and the Growth Fund Bavaria. Bavaria's Minister of Economic Affairs Hubert Aiwanger says:
"With the Bavarian Growth Fund, we support innovative Bavarian companies from future-oriented industries in capital-intensive growth steps. The aCar from Evum Motors, with its customized bodywork, covers a wide range of application possibilities and, with its emission-free electric drive, makes a valuable contribution to the decarbonization of transport. Therefore, we are happy to accompany this young company on its path to series production."
George Ried, Managing Director of Bayern Kapital, says:
"The transport transition can only succeed if sufficient growth capital is available to technological innovation drivers in these areas at an early stage. The ecological aCar serves a rapidly growing global market for sustainable mobility solutions. We therefore see considerable growth and expansion potential at Evum Motors."
