Mohenic Garage secures 1 billion won investment for electric vehicle development
Published2017.04.05 06:35Manufacturing announcement presentation scheduled for May
Mohenic Garage Co., Ltd. announced on the 4th that it has secured 1 billion won in investment from Central Investment Partners.
Central Investment Partners is a specialized investment firm that invests in unlisted companies or venture enterprises within 7 years of establishment, and has recently been increasing its portfolio share in the IT and digital content sectors.
Mohenic's investment was made through Central Investment Partners' Digital Convergence Content Fund, with total investment of 1 billion won (125,000 won per share). Of the 1 billion won investment, 500 million won will be invested in Mohenic's Yeongam Dream Factory, and the remaining 500 million won is planned to be used for electric vehicle development.
Park Young-chan, director of Central Investment Partners, who led the investment, stated, "We highly value Mohenic for establishing a brand in the automotive industry and being a company that can most actively challenge the electric vehicle paradigm."
The company projected that the momentum for its electric vehicle development project would accelerate based on this investment, and plans to concentrate on R&D to further enhance product completeness. Additionally, a manufacturing announcement presentation is being prepared for May.
Mohenic CEO Kim Tae-sung stated, "Following the previous crowdfunding campaign, securing investment from a specialized investment firm has strengthened Mohenic's growth foundation," and added, "I am pleased that Central Investment Partners has recognized Mohenic's development potential through their investment decision."
Meanwhile, Mohenic, which is regarded as a model success case in the crowdfunding market, has secured a total of 700 million won through three consecutive crowdfunding campaigns over one year and 2 billion won through third-party allocation. The company was listed on KSM (Korea Startup Market), a startup-dedicated OTC market, this year. Additionally, the company has announced plans to enter KONEX listing in the first half of this year.
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