A new electric vehicle company announced Wednesday it raised $17.5 million to bring family friendly, all-electric, off-road motorcycles to the market this summer.
Austin-based Volcon ePowersports will use this funding to hire additional sales, engineering and production staff, and double the company’s production lines.
“In my 30 years working in the powersports industry, I’ve never seen this much excitement surrounding the launch of a new product,” Andrew Leisner, CEO of Volcon, said in a statement.
Volcon recently signed national and international partnership agreements allowing the company to surpass this year’s and next year’s sales projections, according to a news release. This comes during the company’s first year in operation and ahead of Volcon releasing its first vehicles.
“This new injection of capital will accelerate our growth even more and help ensure we satisfy customer demand,” Leisner said.
In addition to the funding, Greg Endo will join Volcon as CFO. Endo previously worked as an audit and advisory partner at Deloitte & Touche, according to the release.
Volcon’s first vehicles will be released this June and July. The Grunt e-motorcycle starts at $5,995. The smaller version, called Runt, starts at $2,995. The company also plans to sell four-wheeled utility terrain vehicles in 2022 and 2023.
Volcon claims to be the first all-electric, off-road-only powersports company that designs, manufactures and engineers a range of electric vehicles, according to the release. The company is actively hiring a technician, manufacturing engineer, Android developer and program manager in the Austin area.