City Transformer, an Israeli startup, announced an urban EV that can shrink to fit into tighter parking spaces.
Traffic jams and lack of parking areas are the two most common problems people face in urban driving scenarios. Several ideas have been put forward to solve these issues, including taxing drivers from other towns, carpooling, and even flying cars—however, no need to mention that nobody really came up with a satisfying solution yet.
Staying true to the saying, “Necessity is the mother of invention,” the Israeli-based startup City Transformer has come up with a very creative solution. Namely, the company has developed a compact EV that can shrink to fit into congested parking spots.
Named the CT-1, this four-wheel EV is initially 292.5’ long and 56.7’ wide. However, it can retract its wheels to just 1m wide, allowing it to pass through narrow lanes and ease parking. The company claims that four City Transformers can fit in a standard parking spot.
Unlike the track, the passenger area does not change shape while folding. Concretely, it can seat four passengers – two adults (including the driver) in the front and two children in the back.
Moreover, it can run up to 75-110 miles on a single charge and reach a top speed of 55 mph in wide mode and about 28 mph when narrow.
Times Magazine even listed the CT-1 as one of the 100 Best Inventions of 2020.
City Transformer has announced plans to go public on the Tel Aviv Stock Exchange (TASE) at the beginning of March. Its current valuation is estimated between $137 million to $183 million. The startup hopes to acquire a regulatory certificate for the CT-1 under the Quadricycle category to enter the European market.
Once done, Germany’s Roding Automobile will be responsible for manufacturing the CT-1, while City Transformer aims to start selling the vehicle by 2022. However, mass production will only begin in 2023, possibly in China.
We’ll keep an eye on this one for you. Stay tuned!
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