- Charge Cars that hoped to sell an electromod version of the 1967 Mustang went out of business.
- It says that “significant challenges” facing the EV space led to its current state.
- The company serves as a warning example for several other hopeful boutique startups.
Charge Cars has run out of juice. The once hopeful builder of the stunning and all-electric ’67 is, for now, out of business. That sad news comes despite an official license from Ford and a slew of great press around their first car. Now, it’s going into administration.
The Charge Cars ’67 is basically an electric recreation of the 1967 Ford Shelby Mustang. It was to come with a floor-mounted battery pack, a new steel body, a modern interior, and an output of 536 horsepower (400 kW) and 1,106 lb-ft (1,500 Nm) of torque. Ford even granted Charge Cars a license to build parts in-house.
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That all sounds great but Charge Cars couldn’t find buyers. “Like many in the EV space, we have recently faced significant challenges. It is thus with deep sadness that we inform you that, as of 31 May 2024, Charge Cars Ltd (“the Company”) has been placed into Administration.
Mark Smith and Stephen Cork of Cork Gully LLP have been appointed as Joint Administrators to manage the Company’s affairs, business, and property,” it said in a post.
Charge Cars is a great example of how hard making it in the automotive industry can be. The ’67 is a sincerely cool-looking car that checks a lot of boxes for some modern enthusiasts. But, despite that, it seems that Charge never made a single production version of the car. No doubt, the £350,000 ($440,000+) price tag had a lot to do with it. Ultimately though, not even high rollers were convinced.
That should put a shudder into other brands with similar aspirations. Sure, we love a good rendering here at CarScoops but until a car rolls off of the production line, it’s far from becoming a reality.
Evidently, Charge Cars still believes there’s hope for the ’67 in the future. “We truly believe this is not the end for the ’67, and we are exploring all avenues to get back on track.” We hope it’s right if only for the chance to see them on the roads.
