Savic Motorcycles set out to become a successful electric mobility brand and decarbonise the light mobility industry with its high-performance C-Series electric motorcycles. By designing and assembling its award-winning electric motorcycles from the ground up in its West Melbourne workshop, the start-up is now breathing new life into the Australian automotive sector.
Savic Motorcycles Founder and Chief Executive Officer Dennis Savic had long dreamed of building electric motorcycles. When Savic Motorcycles built its first-ever electric motorbike in 2015, batteries were scarce and expensive. But the start-up had the vision to know this would change. Savic’s electric motorcycles have evolved with battery technology. And Savic Motorcycles is leading the e-mobility wave for two-wheeled vehicles in Australia.
Capital injection fuels R&D
Despite a successful capital raise in 2020, the cash-hungry nature of electric vehicle R&D meant the start-up was soon facing a cash flow squeeze. It was too early to raise more capital, but Savic Motorcycles didn’t want its R&D to lose momentum either. So the company began investigating its options to access other sources of capital, including Radium Advances.
Savic Motorcycles Founder and Chief Executive Officer Dennis Savic explains, “When we heard about Radium Capital’s R&D advance, it ticked all the right boxes for the next stage of our R&D.”
Radium Capital’s non-dilutionary loans enabled Savic Motorcycles to extend its runway and continue its R&D at a critical time. Now, Savic Motorcycles has 200 pre-orders for its C-Series and other light vehicles in the pipeline.
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