FTN Motion has surpassed the $1 million mark in its crowdfunding raise, which will see the electric motorcycle disruptor open new headquarters in Hamilton early next year.
FTN Motion’s Equitise campaign has three days left and closes at midnight Thursday, 2 November; high demand from investors has seen the company easily meet its minimum target of $1 million. The raise allows everyday investors to be part of FTN’s journey as it takes Kiwi innovation to the world stage and prepares to export to Australian and European markets. Luke Sinclair, FTN Motion co-CEO and founder, says they’re fiercely proud of being a New Zealand made company. Moving manufacturing and its head office to Hamilton helps keep its operations onshore. “By the end of 2023, we will have more than 160 motorcycles on the road. Now that we’ve successfully launched the Streetdog, we’re entering a new phase as we prepare to scale. Efficiencies across manufacturing and supply chains are absolutely crucial to our success. To achieve this – and compete globally – we have to give ourselves every advantage possible.
“We searched high and low for a bigger HQ in Wellington (and further afield) that allows us to do this – but eventually found what we need in Hamilton. The workshop is brand-new, purpose-built, and significantly more economical than other options. It’s an incredibly difficult decision, but as a start-up, we need to be as efficient as possible and moving helps us achieve this,” Sinclair says.
FTN Motion credits Wellington for helping shape the company into what it is today. It will retain a local presence, including Streedog servicing, as well as key roles like software engineering.
“Wellington has provided the perfect launch pad, allowing us to build a fantastic community of investors, advisors, collaboration partners and customers. We’ve been lucky to attract some of the smartest and most dedicated talent in Wellington, and we wouldn’t be where we are today without the city’s support. It will always be the birthplace of FTN Motion – we will be forever grateful to the city and the local business and manufacturing communities,” he says.
As well as Hamilton being closer to major ports – an important factor as FTN gets ready to export – Sinclair describes it as a manufacturing powerhouse.
“Moving our assembly operations to Hamilton will allow us to streamline our local painting, powder coating, fabrication and laser cutting requirements for either production or R&D. We will also be within an hour of more than 70 per cent of our current customer base – the efficiencies gained by being closer to the majority of our customers is huge. It reduces the cost of deliveries, servicing, running events, test rides and road shows,” he says.
Luke Sinclair and FTN Motion General Manager Michel Roncara have just returned from Australia, where they introduced the Streetdog to Melbourne and Sydney consumers. The company will launch across the Tasman towards the end of 2024 and says its Australian wait list is growing quickly. Investors have until Thursday to join the crowdfunding raise and can find out more by visiting the Equitise website.