German electric car manufacturer e.GO Mobile gets €30 million to start production

e.GO Mobile

German electric vehicle manufacturer e.GO Mobile has received over €30 million in Series B funding in a round conducted by nd Industrial Investments, the company’s majority shareholder.

The fresh capital will kickstart production of the e.GO Life, a four-seater passenger car, at the company’s facility in Aachen this June. The limited edition vehicle is only available to the first 1,000 customers and is priced under €23,000 (including VAT!).

The company says its production process uses an Industry 4.0 approach, with complete digital integration of all devices, which enables efficient manufacturing, even for small vehicle volumes.

The round attracted an odd assortment of global investors, including Moore Strategic Ventures, former US Treasury Secretary John Snow, Alejandro Agag, the founder of Formula E and a pioneer in EV racing, and last but not least – Edward Norton, the Academy award nominated actor who has also co-founded multiple technology companies such as CrowdRise and EDO. Norton served as the UN Ambassador for Biodiversity for over 10 years and advocates for decarbonisation and environmental sustainability.

Photo: the limited edition e.GO Life NEXT

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