The top electric motorcycle manufacturers right now include Energica, Zero, and Harley-Davidson's spin-off brand Livewire. But closer to home, one company is changing the game in its own way.
Wellington-based FTN Motion is aiming to be the first Kiwi e-motorcycle maker to mass-produce units for a global audience. Envisioned back in 2015, FTN Motion completed its first prototype, the Streetdog, during lockdown in 2020. The company has since raised $4.6 million from various investors.
Now after selling out the Streetdog's second release, FTN Motion is launching a wholesale capital raise campaign with the goal of garnering an additional $3 million.
"We’re operating at the intersection between two significant growth trends - electrification and micro-mobility. This is a significant opportunity for New Zealanders to back us and join us as the industry transforms," said Luke Sinclair, Co-founder.
According to the company, around 80 percent of its customers had never used a motorcycle before purchasing a Streetdog. It's a curious figure that speaks to how FTN Motion is tapping into a new market with a broad appeal. The company is reportedly capturing five percent of the New Zealand moped market, with more growth projected in the future.
The FTN Motion Streetdog will be available to order again in its third wave. The e-motorcycle features an 80km range, 5.5 hour charging time, and a top speed of 50km/h. The official website indicates that an order placed today will reach customers by December 2023. The Streetdog is available for $12,000, with a $100 fee required for reservation.
Potential investors may also access the FTN Motion website to become part of the company's next capital raise campaign.