Israeli electric vehicle (EV) startup City Transformer aims to launch production of its small urban CT-2 model in Western Europe by the end of 2024 and will soon launch a Series B funding round to raise $50 million, the company said on Monday.Chief Executive Asaf Formoza told Reuters the company, which ha
Israeli electric vehicle startup City Transformer aims to launch production of its small urban CT-2 model in Western Europe by the end of 2024 and will soon launch a Series B funding round to raise $50 million, the company said on Monday.
But the EV's wheel base expands to 1.4 meters for"performance mode," which doubles its top speed to 90 kilometers per hour. The CT-2 will cost 16,000 euros before taxes and Formoza said major carmakers have created space for startups like City Transformer by shifting away from smaller cars.
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