Electric car builder ACM is insolvent

The City One electric car is said to be an inexpensive introduction to electromobility. The car can be turned into a van in just two steps. But the concept has suffered a setback: manufacturer ACM Adaptive City Mobility from Munich has filed for insolvency at the responsible local court.

According to the company, the background is that the presentation of the electric vehicle was significantly delayed due to the corona. Originally it was planned to show the City One at the beginning of the year. But the public couldn’t see the vehicle until autumn at the IAA Mobility in Munich.

ACM founder and boss Paul Leibold sets the goal of completing the investor process for a continuation of vehicle development as quickly as possible. With Michael Jaffé, the company has an experienced insolvency administrator at its side to put ACM on a stable footing. ACM will now quickly approach strategic partners with whom the vehicle can reach series and production readiness.

Jaffé himself calls it a “worthwhile challenge to realize the next development stage of the vehicle”. The previous response in the market and the competence of the ACM team made him confident.

Don’t have to wait for the store network to be expanded

ACM wants to counter the problem of a deficient fast charging network that exists on a global level in its own way. A combination of home charging, exchangeable batteries and additional exchangeable batteries to extend the range is planned. This combination of permanently installed and exchangeable batteries solves the challenge of electrification, especially in emerging countries. This means that one does not have to wait for a network of fast charging stations to be expanded across the board. (wa)


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