May 29, 2024 - Technology

EV supercar conversions

Lynx Motors is raising a $3 million seed round to turn DeLoreans and Ford GTs into electric supercars (but alas, no flux capacitors).

Why it matters: The ultra-wealthy want in on electrics, especially models no one else can have.

Zoom in: Lynx Motors converts 1980s DeLoreans and 2000s Ford GTs into high-end EVs.

The startup makes no more than 100 of any model. Each costs about $150,000 to make, and sells for an average of $350,000.
Its forthcoming Ford GT1e, capped at 27 models, will run $2.5 million.

What they're saying: "The pricing here is very insensitive," CEO Rod Keller tells Axios.

"The only thing I've ever heard is, 'If I give you another $50,000 or $100,000, can I get it quicker?'"

What's next: Lynx is planning a follow-up $10 million funding round down the road, with an eye toward an IPO in 2026.

If you need smart, quick intel on dealmaking in the climate industry for your job, get Axios Pro.