MG, the famed English brand owned by Chinese automaker SAIC Motor Corp., hopes to develop a sports car with capital raised through a crowd-funding program.
MG announced on its Chinese website prior to the Shanghai auto show that it will move forward with the vehicle if it can raise 50 million yuan ($7.7 million) from April 19 to July 31.
Participants in the program are advised to contribute 10,000 yuan.
The sports car, which was displayed at the show, is a battery-electric convertible known as the MG Cyberster.
The car, fitted with a powertrain that offers a maximum output of 330 kW, can reach a speed of 100 kilometers per hour in three seconds and can drive for up to 800 km on one charge.
If MG fails to secure funding, the money will be refunded to participants.
Nanjing Auto, a state-owned Chinese automaker, bought the MG brand from bankrupt U.K. automaker MG Rover in 2005. Two years later, Nanjing Auto was acquired by state-owned SAIC.
SAIC builds vehicles for the MG brand in China, Thailand and India.
Here is the original post:
MG looks to crowd funding to finance sports car - Automotive News
- At Jacksonille's One Spark Investor Fest, if You Fund It, They Will Crowd [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- One Spark 2014 | Jacksonville FL | Day One of Smart Media TV Coverage - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Savvy Crowd Funding clip - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- UK Health Radio Crowd Funding Campaign - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Real Crowd on CRE Crowd Funding - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Beyond Milk and Cookies, Inc Crowd Funding film - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- OM'DUB CROWD FUNDING www.embolacha.com - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Big Ask for crowd funding - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Crowd Funding 2014 - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- IndieGoGo Crowd Funding Pitch Video - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Crowd Funding - Ezybuzz Social Marketplace - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Jasmin Jones Crowd funding blog1 - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- centerONEself Crowd Funding Campaign - Video [Last Updated On: April 11th, 2014] [Originally Added On: April 11th, 2014]
- Triathlete Tom Stead hopes crowd funding website can further his career [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- A&E, Reality Crowd Funding TV to film at One Spark festival [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- STALKERSHA Crowd Funding Video - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Crowd Funding: Raising Capital for Business Start-Ups & SME's -- David Street - Video [Last Updated On: April 12th, 2014] [Originally Added On: April 12th, 2014]
- Power of the people: Projects and startup firms seek crowd funding cash [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- Code Red Crowd Funding Video - Video [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- Australian Fairy Tale Society - Video [Last Updated On: April 13th, 2014] [Originally Added On: April 13th, 2014]
- Liam McKahey and The Bodies - Crowd funding. - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Crowd Funding or Online Financing? Producer Brad Wyman at NAB 2014 - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- The Spaceship Car on Indiegogo - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- Sherman Comic Video 2014 HD - Video [Last Updated On: April 15th, 2014] [Originally Added On: April 15th, 2014]
- COS Crowd Funding - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- CROWD FUNDING LAVOURA 2014 - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Dr. David Ferraro - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Habitat for Humanity Crowd Funding Campaign - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- CROWD FUNDING - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Adam Pressman talks Crowd Funding and developing more Millionaires - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Al Mubdiaat Crowd Funding - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Transform Crowd funding Video - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- These Just In-Crowd Funding - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Crowd Funding Video To Help Women With My New Invention- Join Us! - Video [Last Updated On: April 17th, 2014] [Originally Added On: April 17th, 2014]
- Aid For Grades - Video [Last Updated On: April 18th, 2014] [Originally Added On: April 18th, 2014]
- VERKSTAEDI, Crowd funding Participez une exprience originale! - Video [Last Updated On: April 18th, 2014] [Originally Added On: April 18th, 2014]
- The Aspergers Project - HIDDEN DISABILITIES - Video [Last Updated On: April 18th, 2014] [Originally Added On: April 18th, 2014]
- ATX Entrepreneurs @ TechRanch - Video [Last Updated On: April 19th, 2014] [Originally Added On: April 19th, 2014]
- WIP: Hero Generations - Video [Last Updated On: April 20th, 2014] [Originally Added On: April 20th, 2014]
- Gourmet By Numbers Crowd Funding Campaign Video - Video [Last Updated On: April 20th, 2014] [Originally Added On: April 20th, 2014]
- 720p - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Can you escape? - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- When Insomniacs Go To A Sleepover - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Archon Investment Cooperative - Crowd Funding - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- pitch video for crowd funding - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- "The Coming Crowd 'Equity' Funding Revolution" - Jonathan Medved - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Crowd Funding Explainer - 3D Cartoon - Video [Last Updated On: April 22nd, 2014] [Originally Added On: April 22nd, 2014]
- Help us make more Videos for Kurzgesagt - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Ya gotta whatsit wrench? - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Making 'The Devil & Stepashka' - Episode 5 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Realty Mogul on Crowd Funding - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- How to Finance Your Film - Part 1 of 2 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Final Thanks and 3x offer - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- RealConnex on CRE Crowd Funding - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Vajra - 3D Flying Crowd Funding Video - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Launching Patreon -100K Subscribers #15 - Video [Last Updated On: April 24th, 2014] [Originally Added On: April 24th, 2014]
- Scan results . Good news . April 24th 2014 - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Smooth Stride Riding Jeans Product Video - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Crowdfunding for Self- Publishing Writers - Justine Schofield of Pubslush - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Mash Project - Crowd Funding Campaign - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Crowd Funding Pitch Video - Video [Last Updated On: April 26th, 2014] [Originally Added On: April 26th, 2014]
- Future lions 2014 Google Crowd Funding - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Cj Weaver Crowd Funding Video - Video [Last Updated On: April 27th, 2014] [Originally Added On: April 27th, 2014]
- Dimension Chat Episode 5 - Rob Dimension Talks John Cena and Turns - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Ignite Portugal 2014 - Crowd Funding Massivemov - Video [Last Updated On: April 28th, 2014] [Originally Added On: April 28th, 2014]
- Disco the Pitbull reports on the status of our Indiegogo campaign - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Equity Crowd Funding - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Banks Endeavour Film - Crowd Funding Pitch - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- LEBANESE ROCK BAND CHANGING THE MIDDLE EAST - Video [Last Updated On: April 29th, 2014] [Originally Added On: April 29th, 2014]
- Indiegogo At Engadget Expand Best Practices for Crowd Funding - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Serbien Ecocamp 2014 // StartNext Crowd Funding - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Alabama Governor Signs Crowd Funding Law - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Entrepreneurship and the use of crowd-funding - Video [Last Updated On: April 30th, 2014] [Originally Added On: April 30th, 2014]
- Most People Won't Get Up To Bat In Life Unless They Think They Can Hit A Home Run... THAT'S STUPID - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Door2Door Crowd Funding - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Besweet - Crowd Funding Massivemov - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Reveal Realities - Crowd Funding - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Crowd Funding and Taxes - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Mark Urman "Crowd Funding can help release the film theatrically" - Video [Last Updated On: May 2nd, 2014] [Originally Added On: May 2nd, 2014]
- Crowd Funding Platforms - the future of property finance? - Video [Last Updated On: May 3rd, 2014] [Originally Added On: May 3rd, 2014]