Connect with us

Electric GT

Electric GT Postponed to 2019, Searching for Lead Investor

Electric GT looking to confirm lead investor ahead of likely 2019 debut…

Photo: Electric GT

Electric GT and its Electric Production Car Series have been postponed to a likely 2019 debut, with the company currently searching for a lead investor.

The series has revealed to e-racing365 that it will push its debut back to next year while it works on “confirming a great lead investor” in the meantime.

It was originally set to debut later this year with an opening round at Jerez slated for Nov. 3-4 in the provisional schedule released in April.

Almost everything is ready: we’ve developed three fantastic race categories, received FIA approval and welcomed new technical and broadcast partners,” CEO Mark Gemmell explained in a statement released to e-racing365.

“The final ingredient is confirming a great lead investor who shares our vision of clean energy and transport, which is fundamental to launching the championship at the highest level possible.

“The championship start date will be set once this lead investor has been confirmed.”

Gemmell hopes for an inaugural event, which will include the EPCS, eKarting and eSports championships, to be held early next year.

“Jerez is going to get pushed back to 2019, because of this reason,” he told e-racing365 earlier this week.

“It’s still not clear, and we’ve got to allow ourselves some time when that investment is done, to really get up to speed.

“We’re certainly aiming for the first half of 2019, it’s just a case of finding out when the money actually gets done and we’re ready to rock.

“We’re absolutely certain of next year. There’s a lot of opportunities to race next year and the remaining steps are essentially just down to this one step.”

He expects to find a lead investor soon and plans to launch the series shortly after with a similar schedule of around ten races.

“As any startup, we adapt and test our strategy to make sure the timing is right and the market ready,” the statement read.

“In creating an engaging and inclusive championship, we want to be open with our fans and supporters as we close in on this final step to bring the racing we all want to see.”

EPCS, Electric GT’s flagship series, currently has just one team confirmed in SPV Racing which received one of its race-ready Tesla Model S P100DL cars in June.

Jake Kilshaw is a UK-based journalist who is e-racing365's Managing Editor and also European Editor for Sportscar365. He is a student of Politics and International Relations. Contact Jake

4 Comments

4 Comments

  1. Matt

    September 14, 2018 at 8:26 am

    Hey Elon – get out the checkbook and let’s see how your product can perform on a racetrack!

    • Kilgor

      September 15, 2018 at 4:23 am

      That man is the king of hot air and PR-BS. He’s a gigantic scam artist and the king of “hey! look over here!” with no substance behind any of his grand schemes.

      • krisg

        September 17, 2018 at 2:35 pm

        Well, he started an Internet company known worldwide (PayPal) that revolutionized online payments, a space company (SpaceX) that’s producing the first reusable rocket in the history of mankind and that did many flights already for NASA and other big names in the industry, a car company (Tesla) that is revolutionizing the automotive industry with its Model 3 sedan selling more than Audi A4, BMW 3 Series, Mercedes C-Class and Lexus IS in the US market, designed a new transport system (Hyperloop) and now founded a company (Boring) to dig tunnels for it.

        Since 2000ish his companies alone employed more than 100k people worldwide allowing them to provide for their families; how much did you do in the interim?

  2. Andy

    September 14, 2018 at 9:06 am

    Yeah, there’s ZERO chance of that for a multitude of reasons. Never mind the fact he’s about to get destroyed in court and end up coughing up millions in penalties to the cave diver. And then the Tesla manufacturing lawsuits will start

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More in Electric GT