Electric Scooters: French company Red Electric raises €850,000

Red Electric, the electric scooter manufacturer based in Nancy, has successfully raised €850,000 through a crowdfunding campaign. An amount well above the initial goal of €500,000.

According to Red Electric, the campaign attracted over 330 new investors. The funds raised will enable the company to accelerate its production pace, 7 years after the start of its adventure. With its PRO50 models, Red Electric has risen to the top of the B2B market, with approximately 2,500 units sold.

The company also has ambitions in the B2C channel. It offers individuals the Model E, an electric scooter capable of accommodating 1 to 4 batteries. The range is structured around the following three variants:

• E50: equivalent to 50 cc, 3 kW motor. Range: from 75 km (one battery) to 300 km (4 batteries). Price (excluding bonus): from €4,995 to €7,965
• E100: equivalent to 100 cc (accessible with motorcycle license or car license + training 125), 5 kW motor. Range: from 120 km (2 batteries) to 240 km (4 batteries). Price (excluding bonus): from €6,495 to €8,475.
• E125: equivalent to 125 cc (accessible with motorcycle license or car license + training 125), 6 kW motor. Range: from 105 km (2 batteries) to 210 km (4 batteries). Price (excluding bonus): from €7,005 to €8,985.

Electric scooters made in France

After trusting a Chinese subcontractor, Red Electric decided to relocate production to France. Its scooters are now assembled by Chastagner, an industrialist based in Le Mans. It is within this context of transition that the company launched this fundraising effort, which will allow it to “continue the process of relocating manufacturing to France”.

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