A London-based entrepreneur is getting closer to producing a made-in-Ontario electric vehicle (EV).
Faruk Rama announced that his company, Trouvé Victory is close to securing a deal for a factory near Toronto. The plant will be on 50 hectares of land east of the city, with production slated to start as early as 2023.
Trouvé is not a well-known brand in the auto industry, and their first car exists only in low-quality renders. As a result, many are wary of the aggressive timelines the company believes it can hit.
However, Rama says they have $3 billion in backing, including investors in Oman, the private sector and from both the Ontario and federal governments.
Rama noted that Trouvé has lined up suppliers, investors and financial support for the made-in-Ontario venture.
Ultimately, the company hopes to open plants in Ontario, the United States, the United Kingdom and Oman, according to a report by The London Free Press.
Nonetheless, the rumoured specs on the vehicles are something to gawk at. Rama claims Trouvé cars will boast an 18-minute quick charge capability and provide up to 1,000 km (621 miles) in range on a four-hour charge.
“What makes Trouvé-EV so efficient is the use of space age materials that keep the weight down and add strength to the vehicle. The Carbon Fiber body is three times stronger than steel and makes a safer more efficient vehicle,” the company says on their website.
Trouvé’s expects to sell their lineup of vehicles between $65,000 and $85,000 CAD with top-of-the-line models priced over $100,000 CAD.