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Exclusive: Lynx Motors raising seed for classic car EV retrofits

May 28, 2024
A photo of a white, red and black Ford GT, converted to an electric, parked on a city street.

Lynx plans to build just 27 models of its electric Ford GT1e. Photo: Courtesy of Lynx Motors

Lynx Motors is raising a $3 million seed round to turn coveted 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 launched its seed raise in April, drawing commitments from family offices and high-net-worth individuals.

  • The company is planning a subsequent $10 million Series A, with an eye toward an IPO in 2026.
  • Lynx Motors assembles its cars in Detroit, but its showroom is at the Circuit of the Americas racetrack in Austin, Texas.

How it works: 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.
  • The forthcoming Ford GT1e, capped at 27 models, will have a $2.5 million sticker.
  • "The pricing here is very insensitive," CEO Rod Keller says. "The only thing I've ever heard is, 'If I give you another $50,000 or $100,000, can I get it quicker?'"
  • The team got its start upgrading classic Land Rover Defenders, including conversions into electric models, under the brand name LRG.

Flashback: Keller previously led two blockbuster exits in electric mobility: Segway's acquisition by Ninebot in 2015 and low-speed vehicle maker Ayro's reverse merger in 2020.

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