When investing, your capital is at risk. 

In the UK, the most common black taxis emit up to 30 times more pollution than personal cars of the same age. In 2019, black taxis were responsible for 25% of harmful NOx emissions. The consequences, predominantly in London, have led to poor air quality – damaging children’s lung growth, contributing to premature deaths and increasing the risk of asthma and dementia. 

Out of the 70,000 taxis in the UK, only 4000 have converted to electric vehicles, but with the 2018 legislation enforcing zero emissions taxis, drivers are turning to companies like Dynamo Taxi for an affordable and eco-friendly solution. 

Dynamo Taxi was founded by former coach builder, Brendan O’Toole, in 2018. O’Toole told Forbes, “We’re on a mission to change the way people move around the UK, especially in built-up areas like cities where pollution is a problem.” Their initiation couldn’t have been more timely, coinciding with the Mayor of London’s announcement that TFL are committed to reducing emissions from London’s black taxis by 65% targeting the year of 2025. 

Dynamo have built the first and only TFL approved 100% electric taxi at a competitive market price (£10,000 below current market) and an aim to save its drivers’ money. According to O’Toole, currently drivers spend on average £150 a week on diesel, but with Dynamo this is drastically reduced to as little as £10 a week. Not to mention eligible grants of £7500 from the government for drivers. 

Dynamo attained international converter status within Nissan Motors which allows them to modify and sell Nissan products. They are currently working on a partnership with Renault, their product showing great opportunity to boost the social impact and renewed sustainable reputation of established car manufacturers. Selling 170 taxis to date, by 2023 they plan to sell at least 1700, being the leading car manufacturer in the fight against air pollution. 

Dynamo’s plans for their current crowdfunding round is to increase their workforce from 25 to 300 employees, improve accessibility features in all cars, increase sales and distribution for their current electric taxis and invest in R&D for its new larger capacity electric van. 
To find out more about Dynamo Taxi, and for the opportunity to invest in a forward-thinking company, visit the pitch now.