mindset e-motion electric car

For the past few years, Switzerland-based Mindset Holding AG had been planning a sports-car EV that would rival Tesla. You can stop waiting now, since Mindset is declaring bankruptcy after its funding possibilities dried up.

At one time, Mindset was talking about a launch date for the E-Motion in early 2012 – which passed without incident – but as recently as this past February, Mindset was still talking about making a battery pack that delivered about the same power as the one in the Tesla Roadster but weighed half as much. The Mindset E-Motion was supposed to have a base price of about $93,000 and up to 272 horsepower. The whole plan is no more, according to an Aug. 31 statement from the company:

This step has become unavoidable after the group was not able to secure financing towards serial production of the electric vehicle mindset over the last months and years. It has to be stated that conventional investments are preferred to a highly innovative project in the present stock market environment.

Read the whole thing below.

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By Danny King