Lit Motors

Revolutionary Self-Balancing 2-Wheeled Electric Car

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Security Type
Technology, Financial Services, Retail, Community & Lifestyle
Min Investment
San Francisco, CA
Expected Close Date
April 30, 2025
Target Raise
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Key Deal Facts

Breakthrough EV technology: 6-8x more efficient than average EV, 1/6 the battery size
⚙️ 15 issued US patents, 11 control patents, 49 issued foreign patents, 130+ intl applications
Notable investors: Mark Pincus, Joe Gebbia, Scott Belsky, Kelly Slater, Yves Behar, Oliver Bruce
Proof of demand; $31.9M projected revenue (at $32,000 MSRP) from 1000+ preorders w/$750 avg deposit
Team of world class engineers from Raytheon, Honeywell, and Audi ➕ 121 yrs combined experience
Low parts count ➡️ High margins with same value proposition as 4W car
Engagement with top tier automotive OEMs and world renowned tech companies
Production development partnership with Ideenion in Ingolstodt, Germany

Management Team / Advisory Board Bios

Danny Kim CEO, CTO and FounderReed College dropout, UCB, Rhode Island School of Design, MIT Media Lab. Inventor with 23 patents, Land Rover mechanic/machinist, industrial design and sustainable transportation. 19+ years vehicle architecture & prototype development., Stefan Schaeper VP Chassis & Integration22+ years at Audi. Product analyst, quality assurance, chassis engineer, dimension concept team leader and responsible project manager and development manager for the 2018 e-tron GT concept from Audi show cars and concept vehicles., Volker KaeseKey Advisor/Board Member20+ yrs executive at VW Group. Led 2004 CO2 audit for cradle to grave analysis at VW. Prolific materials engineer w/patents. Head of Volkswagen XL1 and VW/Audi Innovation Management. Lead team for research and concept development for the Audi E-tron line., Michael BaileyVP Embedded Systems21+ years Raytheon Space and Airborne Systems System. System level integration, board level integration, software system architecture, and software and algorithm development., David Bailey Engineering Fellow Controls and DynamicsRetired from Honeywell Space Systems after 36 years, Expert in CMG based attitude control trajectories.  Consulted for Hughes, Boeing, Ball Aerospace, Ithaco and Naval Research Labs., Monette StephensInvestment BankerManaging partner at SF Growth Capital. Expertise in investment strategies, global expansion, go-to-market plans, growth strategies, and product marketing., Gary GislerVP of CMG20+ years of experience at Honeywell. Head of development for Hubble Space Telescope reaction wheel, and other CMG projects., Kristina Chung Head of Marketing Strategy8+ years experience shaping brand perception, organic community building, and social media marketing. BA in Public Relations & Mass Communication from Boston University., Nathanael Moss Facility & Operations ManagerSwiss Army Knife. Supervisor Management previously at Amazon/WF 13+ years. Holds a BFA from Rhode Island School of Design.
Amount Raised : $1,362,410
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Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

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