Italian EV startup sees style as way to emerge from pack
MILAN — Elon Musk’s Tesla paved the way nearly two decades ago. Now the global transition to fully electric vehicles is littered with startups, inspired by a new era in mobility and drawn by the lower cost of building EVs compared with their fossil-fuel-guzzling forebears.
Gone are the billion-dollar investments that have made legacy automaking into such a cash cow. Suppliers offer ready-made generic electric platforms and manufacturers can take on contracts for assembly — approaches that translate into savings on jobs and infrastructure.
What has been missing in the new EV formula, according to a Milan-based startup, Aehra, is a fresh design concept.
“Electric vehicles are looked at as being boring by the general public,” Aehra CEO Hazim Nada said. “It is very easy to build an extremely powerful electric vehicle. It is not so easy to build an electric vehicle that has character. And I think that’s one of the elements that Italianness has to express.”
Nada has hired a former Lamborghini designer to help infuse his vehicles with Italian emotion and is emphasizing aerodynamics over performance.
But the company wants to enter an increasingly crowded market of EV startups and traditional carmakers that are being pushed to tackle car emissions that contribute to climate change. Some startups have had little success.
Aehra doesn’t plan to launch its first vehicles — an SUV and a sedan — until mid-2025, with annual production starting at 20,000 to 25,000 vehicles. The ultrapremium cars also plan to come with a price tag to match — $160,000 to $180,000.
They are expected to roll out first in the United States and key European markets before expanding to China. That would follow an initial production investment of $700 million.
While Aehra’s cars are for a wealthy demographic as inflation bites the middle class and low-income earners, battery-powered vehicles generally have gained broader consumer acceptance and governments are nudging automakers away from internal combustion engines.
As interest grows, dozens of new startups are entering a crowded market alongside pioneer Tesla and traditional carmakers, some with century-long track records. The U.S. alone has 417 EV startups, according to research by U.S. asset management and research firm Bernstein.
Design is where Aehra hopes to grab market attention — moving away from the architecture of an internal combustion engine that Nada said has been conditioned by thermal management. The Aehra vehicle body is moving from edges that have defined the muscularity of supercars in recent years and is returning to a line reminiscent of prewar car design.
The improves the car’s aerodynamics, which will help extend range, according to Aehra chief design officer Filippo Perini. Reconstructing the classic internal architecture will create more cabin space for passenger comfort, he added.