EV company carvana Electric cars and accessories maker carvana will launch a $100-million crowdfunding campaign in an effort to build a global EV fleet and sell them to customers.
The company said in a statement Wednesday that it is aiming to bring the EV platform to market in 2020.
It said it is working with major carmakers to develop a fleet of more than 500 vehicles.
The goal is to be a “global leader” in electric vehicles and sell the vehicles to customers across Asia, Europe and the Americas, it said.
The goal is for the company to have a fully operational EV fleet by 2020, said carvana CEO David Zaremba.
Zarembergb said the company will provide support to customers in the U.S., Canada, China, South Korea, Taiwan and Europe through the EV network and its EV-sharing platform.
The announcement comes as the auto industry struggles to keep up with the demand for EVs, which offer less of a carbon footprint than gasoline-powered cars.
Car companies have been investing heavily in developing and marketing EVs, but the demand is still weak, said Josh Hirsch, a vice president at the automotive consulting firm Kelley Blue Book.
Carvana aims to become the “world’s first mass-market EV company,” he said.