Coventry taxi manufacturer targets £2M in crowdfunder to expand

Dynamo Taxi

A Coventry company which manufactures what it claims is the worlds only 100 per cent electric London black cab, is aiming to raise more than £2 million on the crowdfunding site Seedrs.

Dynamo Motor Company is working in association with Nissan Motors and in view of a legislation change on January 1st 2018 whereby Taxis could only be licensed in London if they were capable of travelling more than 30 miles with zero emissions, Dynamo engineered and developed a first to market vehicle to compete in this £4 billion market which currently only has one competitor this being LEVC (another Coventry company incidentally), which is range extended i.e petrol and battery.

With 12 days to go before the crowdfunding closes, Dynamo has raised £1,649,925 from 464 investors.

Its taxi uses Nissan’s fully electric eNV200 Evalia MPV as a donor vehicle that Dynamo converts to a fully certified and compliant London Black Cab.

With further investment secured from its partner and investment company Gluon Mobility Ventures, Dynamo aims to accelerate its plans to enter the mobility sector and offer wheelchair accessible conversions to passenger and privately owned vehicles.

Dynamo  plans to recruit an extra 275 people (total team 300) in the UK and convert up to 10,000 taxis and commercial/privately owned vehicles per year in 2026. The expansion will see Dynamo Motor Company’s all-electric Black Cab production increase and diversification into other mobility sectors that require wheelchair accessibility as well as a last mile delivery van added to its zero emission line-up.

Dynamo Motor Company released its first vehicle in 2019, the Dynamo Taxi, which became the world’s first all-electric Black Cab in 2020 when it entered production. Used in all major cities including London, the home of the London Black Cab, as well as Nottingham, Cardiff, Liverpool, Coventry and Manchester, it is still known as the only Black Cab that has zero emission status.

Brendan O’Toole, founder of Dynamo Motor Company said: “We’re on a mission to change the way people move around the UK, especially in built-up areas like cities where pollution is a problem. In 2019, exactly 100 years since the first new post-war taxi was launched, we introduced the world’s first zero emission Black Cab, Dynamo Taxi. Today, we have big plans to scale up our commitment to all-electric mobility conversions including an updated Black Cab, professionally and privately owned wheelchair accessible vehicle conversions.

“And to add further diversification we will launch a van with a higher roof conversion that increases volume capacity that is designed to offer couriers another option to help tackle the last mile deliveries in all major cities. Our fundraiser will assist in our mission to further our commitment to UK jobs and working with suppliers to increase their growth and further introduce all-electric mobility solutions.”

Each Dynamo Taxi has had more than 1,000 modifications to the existing Nissan e-NV200 Evalia MPV to be classed as a Black Cab. From increasing the height of the Nissan e-NV200 Evalia MPV and be able to access the taxi from the kerbside including with a ramp, and of course the 25-feet turning circle and M1 certification, the R&D cost over £10,000,000. Despite this, prices of the Dynamo Taxi are considerably less than its plug-in hybrid competitor with Dynamo Motor Company’s calculations stating that drivers could save £10,000* opting for the Dynamo Taxi in comparison. Each Dynamo Taxi costs £47,995 (inc. VAT) RRP including £7,500 grant, excluding first £55 registration fee, with the option to finance and buy outright. Drivers can charge the 40 kWh version, capable of 170-mile range, in 40-60 minutes on a rapid charger, meanwhile a fast charger can be completed in as little as four hours and those opting for a 7 kw home charge can do so in seven hours.