e.GO Mobile

e.GO Mobile is a German manufacturer of urban passenger EVs. The company’s flagship offering is the e.wave X, an 86kW peak output automobile with a 250 km city range and 11 kW smart charging. Customers can choose from three options (Native, Urban, and Metropolitan) with prices starting from EUR 24,990 (~USD 26,500). As of October 2023, the company has sold over 1,300 EVs.

The 4-seater compact EV claimed to be the smallest in its class, is powered by a Bosch permanent magnet synchronous motor, and offers features such as an ultrawide cockpit, smart app connectivity, hill start assist, light and rain sensors, and a roof rack. Further, its 3D-Alu-Space frame claims to increase passenger safety in combination with multiple airbags and contributes to better handling.

Key customers and partnerships

In November 2022, the e.GO partnered with Sibros, a connected vehicle platform company to collaborate on deploying smart mobility solutions for the e.wave X. Later, in February 2023, the company signed an MoU with Trafigura, an international commodity company, to form a long-term supply chain solution for the supply of aluminum and battery metals.

Funding and financials

e.GO’s latest funding was in July 2023 , when the company secured USD 75 million in the form of fixed-interest rate debt financing from Western Asset. The funds were earmarked for continued execution of business strategy, with a focus on production of e.wave X model and growth of its operations.