Dutch solar car company Squad Mobility has been granted €1.35 million as part of a €12 million tender won by the GIANTS consortium.
Notably, GIANTS is a €12 million-funded Horizon Europe project that aims to provide affordable and accessible mobility solutions to both emerging and advanced markets. This consortium consists of 23 EU partners amongst others Renault, Toyota Europe and Valeo.
Investment details
The amount will help the company further develop and demonstrate the 2-person and 4-person platforms, L6 and L7, based on the GIANTS platform.
Apart from the funding, Squad Mobility also receives support from supplying partners of the various components in the GIANTS platforms such as batteries, drivetrain, electronics, software and solar PV as well as R&D support from universities and research institutions in the consortium. These developments will also help Squad Mobility on its path to production in 2025.
Invest in shares
Furthermore, Squad Mobility will announce its public offering of shares on the Bondex platform by NXChange in the coming weeks. Investments will be possible starting at €250.
What does Squad Mobility do?
Squad Mobility was founded in 2019 by Robert Hoevers and Chris Klok. Both are former Lightyear employees with a long track record in the motorcycle and automotive industries.
The company offers the world’s first-of-its-kind solar city car for everyday urban mobility. It is touted to be the solution for urban emissions and congestion.
The company has also developed a distributed Microfactory concept in which the Squad will be assembled in factories worldwide, in local markets close to customers.
Squad: All you need to know
The Dutch startup has created The Squad, a compact and affordable solar car that charges itself on direct solar energy through an integrated solar panel on the roof.
The Squad is designed towards EU L6 and L7 and US LSV regulations. The 45 km/h L6 for two persons and the 70 km/hL7 for up to 4 people. No car drivers licence for the L6 is needed in most countries.
Heating is standard, doors and airconditioning are options and the batteries are portable and swappable.
The vehicle’s solar panel charges up to 22 km extra range on sunny days in the Netherlands.
The four swappable and portable batteries provide a range of 100 km, excluding solar. It retails for around $6250 and can be pre-ordered via the official website.
What do we think about Squad Mobility?
The solar city cars offer a promising solution for urban emissions and congestion. With EU and US regulation compliance, self-charging solar panels, and swappable batteries, they are well-positioned for sustainable urban mobility. The funding and upcoming public share offering indicate strong growth potential, aiming for production by 2025 and expanding its innovative Microfactory concept globally.
