Manufacturing News

Savic Motorcycles raises $1.22 million, will begin manufacture

Manufacturing News

Founder and CEO of Savic Motorcycles Dennis Savic has said he couldn’t be happier with his company’s capital raise that closed late last night having raised $1,224,049.

The Melbourne company was aiming to raise between $500,000 and $2 million, with shares priced at 23 cents a share.

Savic raised the cash to fund commercialisation of the company’s C-Series machine (pictured), a stylish electric powered remake of an old style racing bike.

The money will fund the manufacture of 250 motorcycles that have been pre-ordered, equating to future sales of more than $6 million.

The C-series boasts more than 200 newton metres of torque and accelerates from zero to 100kph in 3.5 seconds.

Range is more than 200 kilometres of combined city and highway riding.

Selling price ranges from between $19,990 ride away to $26,990 depending on the model.

Manufactured in Mekbourne, Victoria the Savic is made up from a modular body design, and has IoT connectivity for diagnostics and future upgrade capabilities.

Savic said: “We are proud of our successes.

“We have researched and designed and built five generations of prototypes, we have received recognition from industry leaders including winning four design awards and an innovation award.”

Savic said five pre-production motorcycles are currently being built, with Savic planning to increase production to more than 5,000 units a year.

Raising the cash on the equitise platform Savic said: “We are offering you a chance to own a piece of Australian history.

“I got the idea that I wanted to build bikes when I was 14. I was in a metalwork class and a teacher wouldn’t let me build a motorcycle and that’s what set me on my path.”

Further reading:
Browse @AuManufacturing’s coverage of Savic Motorcycles here.

Picture: Savic Motorcycles

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