Model E floats Ironman car concept
Niche Web automaker Model E Corp. has launched Ironman, a build-to-order concept vehicle designed in the past 90 days, officials said.
The Mountain View, Calif.-based start-up sells high-end vehicles that customers can configure over the Web and augment with specialty features, such as an engine performance boost or rear-end spoiler. But those luxury cars, such as BMW AG's M-Class sedan, are made by other automakers.
Yesterday, the nascent automaker launched its own brand of vehicle, called the Ironman. George Kim, chief business development officer at Model E, said the Ironman vehicle would cost about $100,000 and could ship in the next 18 to 24 months if customer interest develops.
"If there's no demand, we will not produce it," said Kim. "But if people are lining up with deposits because they are seriously interested, then it will take us 18 to 24 months to put it on the road."
The Ironman vehicle, which looks like a sport utility vehicle, features a stainless steel design and a V8 engine. The car can go from 0 to 60 mph in about six seconds. Model E developed the Ironman design with Autokinetics, an engineering design firm in Detroit.
In addition to selling souped-up luxury cars and its own build-to-order vehicles, the company offers a high-end services package, which includes insurance, maintenance and car registration.
Kim said the start-up, backed with $16 million in venture capital funding from Softbank Corp., is seeking additional financing. But he added that the company expects to keep its costs in check by outsourcing vehicle production and services.
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