Electric start-up Monday Motorbikes launches crowdfunding campaign
Monday Motorbikes promises “the world’s most stylish electric motorbike designed for urban transport.” It is now offering fans a chance to become a part of the brand with a US$1 million crowd equity campaign on Start Engine.
Its flagship model, the M1 pairs the look and feel of a motorcycle, but, the company says, “allows almost anyone to be a rider.” Indeed, unlike a motorcycle, the M1 does not require driving courses, a license, or registration in most US states – and it can be parked on any sidewalk.
According to the firm’s website, one charge of its replaceable battery should carry you around 50 miles. It adds that:
In Economy Mode and cruising at 20 mph on a bicycle path, the M1 can travel up to 50 miles (30-35 in city) on a single charge. For the adventurous (and “for off-road use only”), activate Sport Mode for a thrilling 5.5kW, 40 mph ride for 20-30 miles.
(However to comply with the licensing on bicycles, Economy mode is limited to 20mph.)
“I’ve been riding two-wheelers since I was six,” says founder and Chief Scientist Dr. Nathan Jauvtis. “Now, the best part of my day is seeing the full face of teeth as people come in smiling from a test ride on an M1.”
Its sales pitch is heavy on the benefits of electric motoring in general, promising lower maintenance than gas motorcycles and longer lasting electrical components. As with other smaller EVs and electric bikes, the 2.5-kWh batteries can be charged at any standard outlet, and it should only cost an average US$0.21 for a full charge.
“There is no oil to change, no carburetor to flush, no spark plug to change and no need to fill up with gasoline,” says Nicholas Howery, Head of Business Development. “Just plug in overnight and you’re ready to go.”
It also features a cloud-connected dash, allowing Monday Motorbikes to push new features like GPS tracking and remote diagnostics as they develop software improvements.
The 90-day crowdfunding campaign launched on February 6, 2017 through Start Engine. Shares are priced at $2. The minimum investment is US$150 with perks accompanying investments of $500, $1000 and $2000 – and I
investors can also cash in on some pretty sizable discounts on their motorbikes.