UK EV startup Cost Automobiles has introduced a contemporary breath of life into its bespoke electrical muscle automotive enterprise. The corporate has introduced new possession, which intends to proceed and expedite the event of its flagship mannequin, the ’67, primarily based on a traditional Ford Mustang.
Cost Automobiles emerged as a startup in 2016 and is headquartered a couple of minutes exterior London. The corporate’s preliminary purpose has been to develop and ship its flagship product, the ’67 EV, as seen under. The ’67 relies on the 1967 Ford Mustang Fastback and required a license from the American automaker to make use of its physique parts.
The corporate beforehand shared plans to construct solely 499 examples of this electrical muscle automotive, however virtually a decade later, potential prospects are nonetheless ready.
Whereas we’ve been following Cost Automobiles for a while, there’s a cause we haven’t coated the corporate. Its flagship BEV is cool as hell however has all the time given us the sensation that it runs on pure vapor. Most startups can construct a prototype, however as we all the time say, scaling is tough.
There’s no higher proof of this wrestle than the information that got here out of Cost Automobiles HQ in Might 2024, stating that it had entered administration within the UK and a licensed insolvency practitioner, on this case, Mark Smith and Stephen Cork of Cork Gully LLP, have been appointed as directors to deal with the enterprise, its affairs, and mental property.
The choices have been to dump items of the enterprise or attempt to salvage it with contemporary buyers occupied with taking up. Fortunate for Cost Automobiles, a bunch of personal buyers has come to the rescue and can attempt to choose up the place the unique homeowners left off in creating and delivering a bespoke electrical muscle automotive.
Cost hopes to dwell on and ship its electrical muscle automotive
In line with a press launch printed from the UK early this morning, a consortium of personal buyers has acquired Cost Automobiles. It plans to expedite the ultimate growth of the ’67 electrical muscle automotive at a brand new state-of-the-art international headquarters primarily based in Silverstone, UK. Paul Abercrombie, who took over as Cost CEO final November, spoke in regards to the new possession and the alternatives it is going to deliver the British EV startup:
On behalf of the consortium, I’m delighted to announce the acquisition of Cost Automobiles. The ‘67 establishes a brand new class of EV – and we are going to now speed up closing growth at our new international HQ in Silverstone, UK, quickly delivering this thrilling luxurious car to prospects. The Cost model has large international potential, and we sit up for revealing extra particulars very quickly.
Whereas we now know the way forward for Cost Automobiles’ electrical muscle automotive is within the arms of this consortium at a brand new headquarters, the remainder of its plans stay personal for now. We have no idea if the brand new homeowners will stick with the unique manufacturing targets of 499 builds or go smaller or bigger.
From what we are able to inform, the specs of the ’67 will stay the identical because the reborn startup works by way of its closing growth stage, as outlined above. The electrical muscle automotive primarily based on a traditional Ford has a 63 kWh battery that delivers 200 miles of vary and powers quad motors that may attain 400 kW of peak energy (1,520 Nm of torque). The BEV can journey 0-60 mph in 3.9 seconds and recharge at a DC fee of as much as 50 kW.
Cost Automobiles guarantees to disclose future plans “imminently.” Test again with Electrek quickly.
