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eConnect Cars, a London-based electric taxi company, has commenced its crowdfunding campaign in an effort to to double its fleet size by 2018. The company’s growth deadline is in connection with the initiation date of the Ultra-Low Emission Zone (ULEZ) requirements in London. The plan calls for all cabs less than 18 months old to have at least a 30-mile range in zero-emission mode to be licensed. The zero-emissions company hopes that the new regulations will be a plus for its business in London.

The crowdfunding target for the company is £400,000, which will be used for its expansion plan. The company is giving out a total of 17.59% equity in exchange for funds. The campaign has been carrying on pretty well with a substantial amount already raised.


eConnect Cars Turns to Equity Crowdfunding for a Financial Boost

London Cab


Alistair Clarke, managing director of eConnect Cars, said that there is a significantly substantial amount of pressure on large cities in the UK, such as London, when it comes to urban mobility. Increasing population, traffic congestion and air pollution are among the key factors disrupting  the welfare and conditions of urban transportation, as well as the entire transport infrastructure. This disorder has prompted innovative companies, like  eConnect Cars, to develop new integrated solutions which will put an end, once and for all, to the existing and projected transport challenges.

The fleet of the London-based taxi company comprises of only two top range cars: Tesla Model S and Nissan Leaf, the two models are fully electric. The company uses electric vehicles as a way of preventing emission of particulate matter, which causes thousands of deaths each year.


eConnect Cars Turns to Equity Crowdfunding for a Financial Boost

Electric car


Clarke stated that once the ULEZ takes effect in January 2018, the only viable option of running a taxi business in London will be to have ultra-low emissions fleets. He also added that while several competitors are seeking to stall the new adjustments, his company is fully embracing the changes and developing innovative solutions in an effort to take positive steps for a cleaner future. The company is pioneering the development of logistics and unique software needed to operate a scalable electric fleet. eConnect Cars won 2 gold Quality Service and Innovation (QSi) awards during 2015 Professional Driver Awards in the categories of Environmental and New Start Business.

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