Iconic EV believes targeting Australia’s historic car sector, which has an annual spend of A$2.2b, creates a substantial opportunity for the company to accelerate its business model.
The company will seek a listing on a favourable exchange in the next 18 months to finance the development of Australia’s first large-scale electric vehicle conversion facility so they can service the large market demand they have seen since launching.
Investment Highlights:
First To Market
Iconic EV plans to become the first Australian company with a large-scale facility capable of converting a high volume of cars each month, which will allow them to take a substantial portion of the market.
Targeting A High-Value Industry
There are approximately 1.3m vehicles 30 or more years old still fully registered in Australia with most owned by enthusiasts. The numbers indicate the annual spend on Australian historic cars is A$2.2b.
Meeting The Global Shift
With most countries around the world looking to phase out fossil fuels/internal combustion engines, vintage car owners will need to convert their vehicles to electric so they can ensure its longevity and avoid excessive taxes/fuel prices.
