The company hopes to sell a lift for a low-cost electric car for less than $10,000, but will have to prove that the car’s weight will actually be good enough for a lift to operate.
The company has raised $50,000 from investors including private equity firm Starboard Value, which owns a number of small electric car startups.
The $50k goal is the minimum that a new electric car startup will need to raise in order to get their lift to work, and it would not cover the company’s expenses.
But the company has not provided any further details about the lift it hopes to offer to potential customers.
The lift is made from lightweight carbon fibre and it has to weigh less than a tonne.
But it is not clear if the company will be able to deliver the lift, and its backers are asking the company to detail its production schedule.
“The lift concept is a great one, but it’s not a commercial product,” Starboard chairman and managing director Anthony Bannister said in a statement.
“It is not a high-volume lift that will make a lot of money.
It’s a small lift that can be scaled up if need be.”
This lift is only an incremental step in that direction.
We’re hoping that the scale of the product and the manufacturing process will allow us to meet the demand and achieve the goal.
“Mr Bannisters said the company was working on plans to bring the lift to market, but he did not say whether the lift was being built by the time it was to be tested.”
We’re working on getting that into the hands of customers and it will take some time,” Mr Banniers said.
The Australian Tax Office has not yet responded to a request for comment on the company.
The project is being developed by company founder and chief executive Peter Lewis.
He said he was excited about the idea and said the project was one of many in the pipeline that could help the industry make the transition to a low carbon economy.”
In the meantime, the lift is a very simple concept that has the potential to make a huge impact,” he said.