FOUND VICTORY INC. A NEW PLAYER IN THE CANADIAN VEE MARKET

A new London-based electric car company has moved its headquarters to Toronto. Found Victory Inc, a luxury EV start-up, aims to begin production in 2023. Its electrified offering will include four models: a sedan, a pickup truck, an SUV and a utility vehicle with a retail price of between $65,000 and $80,000. They plan to build carbon-neutral plants in Ontario as well as in the United States, the United Kingdom and Oman. Located east of Toronto on about 50 hectares of land, the Ontario plant will employ about 1,000 people. Trouvé president Faruk Rama said he has been working on the project since 2016. The company reportedly has $3 billion in financing, support from investors in Oman, and other private sector funds as well as assistance from Ontario and Canadian governments. With a fast charge time of 18 minutes and a full charge in four hours, the vehicles would have an estimated range of 800 to 1,000 kilometres, surpassing Lucid’s Air Dream 2022, which leads the market with 837 km.