The activity and the investments of the SIN CARS company so far have been focused mainly on the development of the sports and racing cars SIN R1. Since 2018, the company has taken a completely new path on developing the high-tech universal L CITY platform with electric drive. With our participation in the GT4 Championship and sales on 3 continents, now – eight years later SIN CARS ranks among the most recognizable names in the automotive industry worldwide. This fact takes us among the most influential companies in the automotive sports car industry (Aston Martin, Porsche, BMW, Lotus, Maserati, Mercedes, etc.).
The costs incurred for the engineering and development of cars, for the establishment of SIN CARS as a brand, investments in marketing to promote the brand, technological progress, as well as the costs of participation in fairs and exhibitions, are already a fact. The initial stage of the investment has been passed, which means that the critical point for the company has been overcome. The sales so far have been made mainly for the purpose of sustaining the company and investing in its development, rather than achieving maximum profits.
The electric cars with the brand L CITY by SIN CARS INDUSTRY JSC are in the pre-production stage, as the last 3 years have been used entirely for their creation, testing and development. From the beginning of 2021, the company began preparations for serial production. In cooperation with TUV SUD, the process of complete homologation of the first car in the L CITY range – the Koffer model with the unique system of photovoltaic elements placed on the car body began. In order to implement our plans for rapid development and expansion on the European market, we need additional funding. The idea of making the company public dates back to 2019 and was delayed due to the COVID crisis. Our goal is to raise additional capital through a public offering in order to quickly realize the serial production of electric cars L CITI. Currently, the company has 18,543,669 shares and has already attracted its first PIPE investor in 2019 with an investment of 500,000 BGN. For our participation in BEAM for growth on the BSE, we plan to increase our capital by up to 2 million BGN and to additionally issue a new series of shares of this value. As an investment intermediary we chose the best one on the Bulgaria – ELANA Trading AD. With the proposed shares on the BSE, which will be realized through the BEAM segment of the BSE, we will raise additional capital, which will be used in main areas such as: starting production of chassis and components in Ruse, establishing our representative office in Germany, purchasing production machines, hiring additional employees and producing a small series of cars for test and advertising.
With the successful development of the project and the need for more serious capital, the Company can benefit from additional financing from the BEAM market and later move to the main market of the BSE. In addition, our plans for development in Germany will enable us to participate in both the Venture Network and the main market of DEUTSCHE BOERSE, from where we can raise additional capital for growth. The production of electric cars L CITY will be done by the method of matrix production and micro factories (with an area of up to 10,000 m2) and accordingly we plan in the near future to build such plants in England and America, and at a later stage in other places depending on market development. This will allow attracting new groups of investors – pension funds, venture funds and multinational foreign investors.
The attracted investment at this stage will give us the opportunity to move from production in small series of electric cars to actual mass production at a fast pace.
The already planned closure of the major urban centers in Europe for diesel cars, as well as the ban on the sale of all new cars except electric ones in the European Union after 2030 gives a great advantage to the development of business with L CITY. The value of companies with similar production in the last year, such as NIO + 933% (www.nio.com), TESLA + 355% (www.tesla.com) and the UK startup ARRIVAL (established in 2015) had its listing on NASDAQ last month and capitalized 13.6 billion dollars.