City Transformer is a new company of Israeli origin and which was founded in 2014 presenting the project of its Urban EV model. Now, nearly a decade later, the company has reached its first round of financing which allows you to start the appropriate procedures to kick off the serial production of your CT-1, the urban electric microcar that is able to modify its width dimensions depending on whether you are driving or parked.
In 2018, the Israeli company presented its light electric quadricycle as a conceptual model, which was specially designed to tackle urban routes and minimize anxiety about parking; because this modified its width to occupy less space while it was parked. The difference in levels between both variables is 40 centimeters. This is achieved through the adoption of a retractable chassiswhich provides greater driving stability and, as we have mentioned, occupies less space in the parking lot, being possible to park up to 5 CT-1 in a space for an average vehicle.
Many branded the company at that time as a project doomed to failure mainly due to its unconventional approach. Now, City Transformer has secured $10 million in financing through the Lubinski Group, primarily an Israeli car importer with a large number of workshops and repair services in Germany, as well as vehicle sales outlets in France and elsewhere. Eastern European countries. In addition to this company, which positioned itself as the main investor, there were others that also did the same, such as several multinationals dedicated to the transport and real estate sector, as well as some individuals. Among the latter, no specific names have been mentioned.
From City Transformer they are really enthusiastic and grateful to those who have placed their trust in this new company. In the first instance, this round of financing will go mostly to start the serial production process of the CT-1 model, which is scheduled to reach the market throughout the year 2024. Among its main rivals would be the Citroën AMI and its derivatives (such as the Opel Rocks-e), or also other projects that are yet to come such as the Squad Solar City Car, which we were able to talk about a few days ago about its imminent arrival in Europe.
the israeli company you have already opened your book of orders and reservations to get hold of a City Transformer CT-1. This reservation will be made by refundable initial payment of 150 euros and each interested party will have access to the deposit of a limited number of units yet to be determined. This is done due to the still uncertainty about the number of units that they will be able to manufacture in their first months of production. From this company they promise a significant discount on the final price of the model for those who are the first to reserve a unit. Its commercial price is expected to be around 16,000 eurosalthough this amount can still vary significantly until its official arrival in our market.
The City Transformer has as its main recipe its retractable chassis, thanks to which it can go from a width of 1 meter to 1.40 meters; in the rest of the dimensions it does not vary since it has a fixed length of 2.5 meters and a height of 1.58 meters. It is mechanically driven by two 7.5 kW electric motors each, which take this vehicle up to 90 km/h top speed. The capacity of its battery is not mentioned, although they do determine that it will be able to travel between 120 and 180 kilometers on average.