Birmingham advisers rev up growth for British car manufacturer

Birmingham-based Debrett’s Private Finance (DPF) has advised Piper Electric Vehicles (PEV) on its Series I fundraise.

PEV is an EIS-qualifying British engineering start-up, based in Bristol. Its mission is to re-create electric versions of cars of yesteryear. The business will reimagine, design and produce brand new cars, from the ground up, rather than retro-fit or convert existing combustion engine classic cars to electric vehicles.

Its first platform vehicle is a version of the Austin Healey Sprite. The business is led by Mark Hall, CEO and John Piper, CTO. Both have 30-plus years in automotive design, engineering, strategy, sales and marketing expertise across the globe.

The funds raised have already been spent on the production of a working prototype and production is due to start in Q2 of 2023. The business will shortly be raising a small top-up round of £500,000 which will be the final amount necessary for production and all future requirements. The business will be cash generative from then on and has further vehicles to launch.

Hall said: “Thank you to DPF. Good job on securing the investment we require so swiftly. We are now in proper growth mode, and I couldn’t be prouder of the business we are building.”