Charge Cars, a company that tried to create an electric version of the ’67 Mustang, went bankrupt. Despite having an official license from Ford and positive press coverage, the company goes out of business.
Charge Cars ’67 is essentially an electric copy of the 1967 Ford Shelby Mustang. The car was to be equipped with a battery pack installed in the floor, a new steel body, a modern interior, and a 536 horsepower (400 kW) powerplant with 1500 Nm of torque. Ford even granted Charge Cars a license to manufacture parts in-house.
The only problem was that the company was never able to find buyers for the electric ’67 Mustang. It seems that Charge Cars was never able to make a single production version of the car. Probably, interested customers were scared off by the set price of £350,000 (over $440,000). Even wealthy buyers lost interest because of this.
«Like many others in the electric vehicle industry, we have recently faced serious challenges. Therefore, it is with deep regret that we inform you that as of May 31, 2024, Charge Cars Ltd («Company») has been placed into administration. Mark Smith and Stephen Cork of Cork Gully LLP have been appointed joint administrators to administer the affairs, business and property of the Company», — the statement reads.
Charge Cars is an example of how difficult it is to succeed in the automotive industry today. And the company’s situation can be a good lesson for other brands with similar aspirations. However, Charge Cars believes that all is not lost and that ’67 has a future.
«We sincerely believe that this is not the end of ’67, and we are looking for every opportunity to get back on track».
Source: carscoops
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