The Zurich-based start-up company in the automotive industry, Piëch Automotive AG, has appointed a number of executives who have been headhunted away from the competition. Matthias Müller, the former CEO of Porsche and Volkswagen, has been made the new CEO. The former BMW Motorsport Chief Engineer Klaus Schmidt will remain Chief Technology Officer at Piëch Automotive. But he will also become one of the two CEOs within the company. Over the past four years, he has led the development of the company’s modular vehicle platform. This now features multiple chassis styles and powertrain designs. In the future, he will oversee the management of the entire technical operation.
The position of the second CEO will be filled by Chief Marketing Officer Andreas Henke. He will also be responsible for brand strategy and marketing, customer relations, finance, and human resources. He previously worked for high-end audio manufacturer Burmester and before that, for Porsche. Piëch Automotive intends to hire more “creative talents and experienced managers” from the automotive and related industries in the near future. Such as Jochen Rudat, the ex-Tesla manager who recently joined Piëch Automotive as the Sales Manager.
Financing is available
Piëch Automotive has successfully completed the first financing round, which involved the investor Peter Thiel coming on board. The next financing round will be conducted in the coming months under the leadership of financial advisor UBS. It aims to secure additional capital needed for the launch of the series production of the car. Preparations are currently underway for the next decisive stage in the launch of the fully battery-powered, two-seater sports car. The design has been finalized and the first prototypes are now scheduled to go into production. What’s more, the Swiss want to win important partners for the development of the vehicle. And to start building the Piëch Engineering Campus in Memmingen.
Record charging time
The innovative, modular car concept developed by Piëch Automotive offers a wide range of chassis styles and drive systems. As well as continual upgrades in hardware and software. In addition, Piëch Automotive is also building on an innovative business model that is economical in terms of both construction and operation. In doing so, they aim to “contribute to securing the future viability of the company.”
As the first of three planned vehicle concepts, the two-seater electric sports car is to present Piëch Automotive’s revolutionary battery and charging technology, Piëch Automotive has announced. The car can be charged in a record time of just 4 minutes and 40 seconds to a battery capacity of 80% with a range of 400 kilometers. According to the inventors, the maximum range of the vehicle is expected to be 500 kilometers (Worldwide Harmonised Light Vehicle Test Procedure aka WTLP). The first scheduled model should be available at the end of 2022. The prototype was originally showcased at the Geneva Motor Show back in 2019.
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