Melbourne company Savic Motorcycles receives $30 million valuation

Melbourne electric motorcycle maker Savic Motorcycles has sent its first commercial orders after eight years in development and is making a pit stop to meet with fund managers in hopes of raising $12 million at a $30 million valuation.

The startup, targeting modern car enthusiasts looking for a fun yet powerful commuter vehicle, has received 240 pre-orders for the 2024 C-Series motorcycles. This includes the Alpha model, which retails for $26,990 and can reach 60 mph in 3.5 seconds. A full charge takes about six hours and allows the motorcycle to travel 200 kilometers.

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