LCC Lightning GT
The Lightning Car Company, the British developer of The Lightning electric Grand Tourer supercar, today announces its intention to raise approximately £15.5 million (before expenses). The funds will be invested in completing the final two phases of the Company’s evolution, programme development and technical validation, taking the Lightning to full production as early as Spring 2012.
TLCC was founded in early 2007 to brand, design and build a luxury electric supercar in the high margin, lower volume Grand Tourer (“GT”) segment, currently overlooked by major manufacturers. The Lightning GT was conceived to bring together classic British styling with world leading engineering under an evocative “made in Britain” brand that sets a new benchmark for luxurious design, build and performance. Once fully established, the Company will be the first new British prestige automotive marque for mainstream production in Britain since the 1940’s.
The Lightning combines high end performance and a real world operating range with a luxury finish. The initial rear wheel drive launch car, driven by a German sourced powertrain with twin inboard-mounted electric motors, will deliver 400 BHP, with an acceleration of 0-60mph in under 5 seconds and a governed top speed of 125mph, making The Lightning one of, if not the fastest electric vehicle on the market. Advanced 44kWh Lithium Titanate batteries provide a touring range of over 150 miles, which can be boosted to 225 miles with an optional range extender.
The prototype Lightning was launched, to critical media and industry acclaim, in the summer of 2008 at the British Motor Show by a small start-up team of automotive design, engineering and marketing experts. The Company has since grown as an Automotive Design Engineering and Prototype Technology Studio that is bringing together a highly experienced UK automotive leadership team and world leading automotive partners across mainland Europe and the US who themselves have made the necessary investment to homologate, supply and build the car to the necessary prestige standards of finish. By bringing together established independent automotive partners as a project team, the Company differentiates itself from the major OEMs building electric and low emission vehicles. This dynamic partnership has already delivered a highly accelerated research, design and production schedule which the next phase of funding will further quicken.
The Lightning brand itself is seen as a critical long-term value component. The name is memorable, evocative and is protected in the UK and mainland Europe as a trade mark for automotive use. The trade mark is being invested in for the long-term as a durable international automotive brand. The Company has, alongside the car build programme prioritized a brand development, registration and protection programme of the English Lightning name for relevant automotive classes in key worldwide markets.
TLCC’s collaborative approach has helped to minimise development risk, control funding requirements and enhance profit potential, for instance by avoiding the need for bespoke manufacturing facilities. Once the GT model is in production, it is planned to rapidly exploit the Lightning platform and TLCC’s flexible manufacturing model for a 4WD version of the GT.
The timing for the car’s launch comes on the wave of stimulus programmes that have emerged around the world since the lead given by the Obama administration on electric vehicles (“EVs”) in 2009, delivered a major global impetus to the EV sector for low emission transport technologies. Closer to home, the UK Government is demonstrating its support for electric vehicles with a range of initiatives such as: The Plug-In Car Grant; vehicle excise duty reductions; congestion charge exemption and subsidized parking.
Source: LCC press