A Wellington-based electric motorcycle maker has made New Zealand manufacturing history with a production run of 100 and is now launching a crowdfund to further grow its company.
Hoping to disrupt the motorcycle industry, FTN Motion has launched an electric alternative, Streetdog and has made manufacturing history for New Zealand with a production run of over 100, something that has not been seen since the 90’s.
“We’re on a mission to reduce congestion and decarbonise the commute,” says Founder Luke Sinclair.
“We want to accelerate the transition to emissions-free transport and help New Zealand achieve our net zero carbon emissions goals by 2050, so we’ve built an urban riding machine that not only challenges convention but also turns the everyday commute into the best part of the day.”
In two years, FTN Motion has been able to bring their prototype of the Streetdog to life and has since now been creating a new category of design-led urban motorcycles in hopes to convert car drivers to electric two-wheel mobility.
The Streetdog is a motorcycle with 80 kilometres of battery range, a touch-screen display and more, and only needs a New Zealand car licence to ride.
Sinclair says the motorcycle is “fresh” and “design-driven” in hopes to create the “most intuitive and user-friendly product on the market”.
Already, 90 percent of the company’s first customers come from the moped market, with FTN Motion capturing five percent market share in its first year of deliveries.
With the demand they have since seen, the company is now hoping to expand further, not only just in New Zealand but also into Australia and Europe.
FTN Motion hopes to raise $3 million through investment platform Equitise to meet its goal of expanding.
“We’re at the intersection of two massive growth trends; electrification and micro-mobility. The EV revolution has only just begun. It is an industry that will continue to grow as countries worldwide push to reduce emissions,” adds Sinclair.
“With motorcycle deliveries now underway and a global supply chain in place, investment from this round will fund manufacturing process and tooling upgrades as we gear up for our next fully subscribed production run and our market entry into Australia. Our target is to scale our annual production capability to 700 plus bikes for local and Australian deliveries in 2024.”
Equitise Founder Jonny Wilkinson says FTN Motion has built an innovative and customer-driven product for a passionate community.
“These are all key ingredients for a successful Equity crowdfund,” says Wilkinson.