Coventry-based Dynamo Motor Company, which converts Nissan e-NV200 Evalia MPVs into all-electric black cabs, has announced its new £2m growth strategy.
The company has already raised more than £1.5m of its £2m target since 12 July through the Seedrs fundraising platform, as it looks to increase production of its vehicles which have a 170-mile range and a 40kWh lithium-ion battery.
Dynamo Motor Company will also expand its UK manufacturing site in Coventry, in which it believes there is opportunity to convert up to 10,000 vehicles per year by 2026.
It also aims to diversify into other sectors including wheelchair accessible vehicles and last mile delivery vans.
This investment could see the company create an additional 275 jobs.
Dynamo Motor Company has delivered more than 170 taxis since production started in 2020 and its vehicles are already in use in London as well as Cardiff, Liverpool, Coventry, Nottingham, and Manchester.
The company makes more than 1,000 modifications to the vehicles, including increasing the height, adding a ramp for wheelchair access, and introducing a tighter turning circle to help inner-city manoeuvrability.
Brendan O’Toole, founder of Dynamo Motor Company said, “In 2019, exactly 100 years since the first new post-war taxi was launched, we introduced the world’s first zero emission black cab, Dynamo Taxi.
“Today, we have big plans to scale up our commitment to all-electric mobility conversions including an updated black cab, professionally and privately owned wheelchair accessible vehicle conversions.
“And to add further diversification we will launch a van with a higher roof conversion that increases volume capacity that is designed to offer couriers another option to help tackle the last mile deliveries in all major cities.”