Russian manufacturer of electric vehicles is looking for an investor for 4 billion

St. Petersburg startup Electric Vehicles Manufacturing Rus opens the second round of investments. If the investor decides to enter the capital, he will receive up to 15% of the company. Another opportunity to participate in the development of a startup is to provide leverage. Developers need about 4 billion rubles.

Waiting for an investor

The St. Petersburg startup Electric Vehicles Manufacturing Rus, which has developed an electric manufactured goods van EVM Pro based on the UAZ Profi, is entering the second round of investments. Vedomosti writes about this, citing sources close to the negotiators. Representatives of the company declined to comment on the situation.

Investors are offered either to enter the capital – you can get up to 10-15% of the company – or to provide leverage.

The interlocutors of the publication report that one of the former structures of VTB can invest in electric trucks. In addition to other potential investors, the startup has a chance to get a soft loan from the Industry Development Fund.

September 14, 2022 Founder and CFO of Electric Vehicles Igor Girdin at the presentation of the company’s development center, he said that the company needed 4 billion rubles.

Funds are needed for research and development (R&D), deepening the localization of the electric motor and power electronics of cars. The company’s website states that at the St. Petersburg State Polytechnic University. Peter the Great created the Center for Development and Innovation of Electric Transport, which is headed by Ilya Rashkin. The resources of the Center are now involved, among other things, in the direction of optimizing the mass production of electric trucks.

How much money have you already spent

As part of the first round of investments for the project, the developer and CEO of the company Ilya Rashkin, together with Igor Girdin, allocated 1 billion 300 million rubles from their own funds. This money was enough to prepare the enterprise for the launch and start the production of serial electric trucks.

The startup was going to start mass production at the Technopolis Moscow SEZ site in the third quarter of 2022 and produce about a hundred vans by the end of 2022. The plant was to be located on an area of ​​2600 sq.m. Due to the sanctions, which provoked an extension of the delivery time for equipment and a lack of investment, the launch was postponed by 2-2.5 months, Girdin said at the presentation. Now, in 2022, the company will have time to produce only 40-50 electric vans.

It is also known that the plant plans to create 96 new jobs in the first stage, the website reports that the company needs designers, assembly engineers, CNC machine operators and administrative staff.

How much does an electric car cost

One electric machine with a stationary charging station will cost 4.5 million rubles. – at the beginning of 2022, the cost was less than 1 million rubles. The rise in price occurred after the UAZ chassis, which Sollers Auto supplies to Electric Vehicles, increased in price from 1.2 million to 2 million rubles, Girdin said.

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The site reports that the cost of owning a car in total is 8 rubles. for 1 km. An electric car saves up to 10 tons of CO2 emissions per year.

The end users of the machines have already been determined – the entrepreneur is applying for them Alexander Lebedevwhose structures will be supplied with 250 electric cars, as well as Gazpromneft and Russian Post.

Girdin mentioned that leasing companies are also showing interest, since Electric Vehicles are participants in a special investment contract (SPIC) and are included in the support programs of the Ministry of Industry and Trade. This means that the Russian electric car will be subject to a subsidy of up to 925 thousand rubles. for the first installment when buying on credit or leasing.

History of Electric Vehicles Manufacturing Rus

Recall that in August 2021, the Government of Russia approved the Concept for the development of production and use of electric transport in Russia until 2030. The transport strategy with a forecast until 2035 outlined the priority of state support for equipment with a high environmental class and equipment operating on electric traction.

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In 2021, two St. Petersburg entrepreneurs Ilya Rashkin and Igor Girdin created the Electric Vehicles Manufacturing Rus company. In February 2022, the company introduced the first Russian electric cargo vehicle EVM PRO, a compact ELCV based on the UAZ Profi chassis.

Who else produces electric cars in Russia

The mass production of Russian cars has not yet taken place – it is only known that some dealers are already accepting orders for Motorinvest’s Evolute cars. Avilon offers customers I-Joy, I-Pro and I-Van models for 3–3.5 million rubles. In fact, these are Chinese Dongfeng electric cars that have undergone badge engineering (when the automaker decides to release the same car under different brands). The start of sales is scheduled for September 2022.

The first two hundred electric cars in 2022 are also planned to be produced by the Moscow automobile plant Moskvich (formerly Renault Russia). In 2023, the production of electric cars should be 10 thousand cars, and in 2024 – 20 thousand. The platform of the Russian startup Kama is being considered as an alternative to Chinese products.

Angela Patrakova

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