eConnect Cars Launches Crowdfunding Campaign To Double Taxi Fleet Size

The electric taxi company eConnect Cars has launched a new crowdfunding campaign to help achieve its plans to double its fleet size by the year 2018, according to recent reports. The tentative deadline for the growth is in reference to the date that the “Ultra-Low Emission Zone” is introduced in London.

The UK-based company is aiming for a crowdfunding target of £400,000 — enough to fund the majority (or all of) the expansion without having to do another round if internal capital raising or single invoice factoring. Things are already going pretty well from the look of it, with a substantial portion of that figure already reached.


“There is tremendous pressure on London and other large cities when it comes to urban mobility,” stated Alistair Clarke, managing director of eConnect, in a statement. “With population growth, congestion and air pollution increasingly challenging the status quo, innovative companies like eConnect cars are forging a new integrated multi-modal transport solution.”

Business Green provides more:

eConnect Cars points to its electric taxis as a way of avoiding the particulate matter emissions from exhaust pipes that contribute to the death of thousands each year in London. In addition, once London’s Ultra-Low Emissions Zone (ULEZ) kicks in in January 2018, all taxis less than 18 months old will be required to have a range of at least 30 miles in zero emission mode in order to get a license.

“With new legislation coming into place, running ultra-low emission fleets will become the only viable option,” continued Clarke. “While many competitors seek to stall these changes, eConnect is not only embracing change but is also innovating in the market and showing what positive steps can be done today for a cleaner future.”

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