Bulgarian electrical vehicle startup Kinetik launches crowdfunding to restart operations after fire

Bulgarian EV maker Kinetik launches crowdfunding campaign to restart ops after fire

Bulgarian electric car manufacturing startup Kinetik Automotive launched a crowdfunding campaign targeting to raise some 185,000 levs ($112,400/94,500 euro) to restart operations after a fire destroyed its manufacturing facilities in April, the company said.

Since the start of the campaign, Kinetik has attracted over 85,000 levs from 178 contributors, the company said in a statement last week.

The campaign will end on July 9.

The proceeds will go to rebuild Kinetik's manufacturing facilities and buy equipment.

"We are hoping to be back in full swing in the next 3-4 months," Teodosiy Teodosiev, owner and founder of Kinetik, said in the statement.

Kinetik was founded in 2017 in Varna. The company has manufactured the Kinetik 07 two-seater electric car, and Model 27, an electric go-kart. (1 euro = 1.95583 levs)

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