FTN Motion’s Streetdog electric moped is designed to look like classic motorcycles. Photo: Supplied
A New Zealand company behind an electric moped is looking to raise capital as it looks to scale-up production and grow sales.
Wellington-based FTN Motion made electric mopeds, known as the Streetdog, designed to look like classic motorcycles.
The company, founded in 2017, wants to raise up to $3 million to help fund its move to a bigger production facility in Wellington.
Co-founder Luke Sinclair said it was also eyeing up the Australian market.
"After validating the Streetdog, the time is right to scale as we prepare to enter Australia in 2024 and then Europe," he said.
"Our engineers have been working hard to develop the ultimate urban riding machine, combining craftsmanship, practicality and innovation to do something completely new in the motorcycle industry."
Sinclair said as the Streetdog was a moped - meaning riders did not require a motorcycle licence - it appealed to a broader market.
The Streetdog has a range of 80km, 30 litres of storage and can be used with just a car licence.
About 80 percent of FTN Motion's customers had not used a motorcycle before, Sinclair said.
"We're operating at the intersection between two significant growth trends - electrification and micro-mobility. This is a significant opportunity for New Zealanders to back us and join us as the industry transforms."
He said the company was pleased with the level of interest in the capital raise.