Automobile Production Business

Automobile Production Business Success Stories [2024]

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Updated: October 7th, 2024

Thinking about diving into the world of automobile production? This business idea focuses on manufacturing cars, from design to assembly, providing your unique take on vehicles.

Automobile production involves designing, engineering, and assembling cars that can meet consumer demands and regulatory standards. You’ll need to source materials, manage production lines, employ skilled labor, and ensure quality control.

While this venture demands significant investment and meticulous planning, the payoff can be substantial. With the global shift towards electric vehicles and renewable energy sources, innovative automobile production can align with future market trends.

Starting an automobile production business lets you shape the future of transportation while potentially earning a solid return. If you have the resources and vision to navigate this complex but rewarding industry, the opportunity to create iconic vehicles awaits.

In this list, you'll find real-world automobile production business success stories and very profitable examples of starting a automobile production business that makes money.

1. Elaphe Propulsion Technologies Ltd. ($14.4M/year)

Gorazd Lampič, the founder of Elaphe, was initially pursuing a career in astrophysics when he came across an article about Andrej Detela's vision for in-wheel motors for electric vehicles (EVs). Intrigued by the potential impact of this technology, Lampič reached out to Detela and the two quickly began working together. Now, 20 years later, Elaphe has become a leading provider of in-wheel propulsion systems, working with major carmakers and achieving impressive financial success with a turnover of €15 million and €4 million in EBITDA in 2021.

How much money it makes: $14.4M/year
How much did it cost to start: $10M
How many people on the team: 150

My Car Tech Startup Just Reached $14M/Year

Elaphe Propulsion Technologies has revolutionized the electric vehicle industry with their in-wheel electric motor technology that can accelerate a vehicle from 0 to 100km/h in just three seconds, enabling carmakers to design truly user and mission-focused cars and work with all of the key traditional and new carmakers.

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