Mileto Tech Motors will sell the first electric car that costs less than R$ 100 by the end of 2022
The newest electric vehicle company, Mileto Tech Motors, had two car models approved in performance and safety tests, and is currently awaiting approval from Senatran (National Traffic Department) to start assembling and commercialization. the factory of company is located in the state of Rio de Janeiro in Porto Real. The cars, which will be sold under the names Primis and Duo, should go on sale by the end of this year, 2022, with final prices ranging from R$98 to R$120.
To achieve this price, Mileto chose versions of Chinese electric cars, and imports them in separate components. A vehicle with a combustion engine can have 2.000 components, while an electric one can only have 200, which makes importing this type of vehicle much cheaper.
The cheapest electric cars currently sold in Brazil are the Renault Kwid E-Tech for R$146.990 and the Caoa Chery iCar for R$149.990
Mileto was founded by the brothers Felipe e Alexandre de Oliveira nine months ago. Felipe de Oliveira has over 20 years of experience in the automotive sector, while his brother Alexandre de Oliveira comes from a background in financial sector. The latter, even owning a partnership with Warren brokerage.
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The company's executives consider it an autotech, not an automaker, it was founded with the intention of creating an electric vehicle that could be printed on a 3D printer, had a high degree of customization and was built with blends of ultra resistant polymers.
Mileto Tech Motors already has several other electric vehicles in its portfolio
In addition to the two new models of low-cost electric cars, Mileto also has in its portfolio the utility vehicle Fortis, a mini truck that has a capacity of 800 kg and has a range of 150 km, with a full battery charge. In addition, it also has two electric motorcycles, with prices ranging from R$ 17.000 to R$ 24.000. All of these vehicles are scheduled to launch next October.
Mileto's owners did not want to disclose the amount they have already invested in the venture. The factory in Rio de Janeiro has the capacity to produce 40 cars and 400 motorcycles per month. However, the company is holding discussions with potential investors to accelerate the pace of expansion and increase production in the coming months.
The company did not disclose details about the technical data sheet of the new vehicles, so it is still not possible to know the capacity of the batteries, as well as their autonomy. However, these details are expected to be published in the coming weeks.