To our investors, friends and future drivers:
Our founder has returned to full-time work in 2019 after a five-year hiatus. In Aug 2019, we resumed conversations with German OEM executives. From Oct 2019 to Sep 2021, we met weekly with 29 employees from the OEM’s diligence process to promptly consolidate a partnership. The implementation of our IP and architecture in a serial production would have been a breakthrough. Then Covid, Delta, and Omicron hit, which incited us to relocate to a 40,000 sq ft lab in Portland, OR.
Our patent portfolio still stands strong and secures our platform’s position in the market, giving us a unique IP advantage over dynamic urban concepts. Now we are rebooting with a fresh group of VP engineers, board members and advisors, who are committed to bringing Lit Motors as a car brand to life.
Audi's innovation champion, Volker Kaese, joined Lit for beta prototype development. With his 19-year prototype/show-car network for lightweight design, chassis production, battery pack prototyping to small serial QA, he led the pre-development of AUDI. He is working with a VC, who has targeted Lit Motors for an investment. Please welcome Volker to the community!
Gary Gisler, a retired Honeywell Control Moment Gyro (CMG) expert, also joined our team! Gary was a member of the Mechanical Engineering Design Team for Honeywell’s space application CMGs. He is the lead designer for the production-ready CMG. Please welcome Gary to the community!
“The balance system is the heart of the Lit vehicle platform–revolutionizing an enclosed driver space with car-like controls. The Gen 2 Balance System is a huge leap in the Driver Experience, actively controlling how the vehicle feels and drives,” says Mike Bailey.
This has been demonstrated by David Bailey’s work in Matlab simulation and control algorithm development. This work is entering its next phase and is being executed by our expanded engineering and business team.
Most importantly, thank you for your patience and support. We will never forget and are always grateful for your trust. We are getting our cap table organized for this next funding round and need your cooperation to start building a Production Lit Motors AEV C-1 prototype.
We are discussing with a corporate and securities counselor, who has advised issuers with capital raising for preparation of $1B+ IPOs, to strategically guide the company’s business decisions. We are raising $9M for a pre-beta driving experience/prototype, now.
We will discuss deeper in future blog posts about the investment opportunity, the Gen 2 Balance System, the new Arizona-based workshop, and some insider previews into the technology itself.
To the two-wheeled mobile of the future and beyond!