The Little Car Company, which makes limited-edition miniature electric cars, is seeking funds to expand the business following a surge in global demand.
The Bicester-based luxury brand has produced over 200 authentic scale electric cars since its launch in March 2019, in partnership with car manufacturers such as Bugatti, Ferrari (NYSE:RACE) and Aston Martin. Each car is fully drivable and is hand-built using around 95% British-sourced components.
In a statement, the company said it has seen unprecedented international demand, with appetite for its products at an “all-time high”. It has clients in over 50 countries and over 90% of its cars are being delivered internationally.
To meet rising demand, it has scaled up its business with the recent acquisition of a neighbouring manufacturing facility to treble production capacity and expand its workforce.
The Series B funding launched today will allow it to grow even further, both in personnel and manufacturing space, the company said.
At present, The Little Car Company can produce a maximum of five cars per week at its main 10,000 square feet (sq ft) headquarters. The recent addition of an adjacent 10,000 sq ft facility at its Bicester Heritage site will enable the company to treble its output over the next 12 months, primarily due to next year’s launch and start-of-production of the Tamiya Wild One MAX alongside a yet-unannounced project.
“Since starting The Little Car Company in 2019, we have seen tremendous growth over a short period of time, despite COVID-19 and industry-wide supply chain difficulties,” said Ben Hedley, CEO of The Little Car Company in a statement.
”Surging global demand and our investment so far is enabling the rapid expansion of both our production capabilities and workforce and, as we open our Series B funding round, we welcome all interested investors to join us on our amazing journey.
“We’ve got some incredibly exciting projects coming up, with as yet unannounced partners, which we can’t wait to share. The Little Car Company is in an exciting position, and we are really going to surprise the automotive world in 2023 and beyond," he added.