South African EV Maker Optimal Energy Goes Out of Business

Optimal Joule 1 photo
While the number of EVs bought around the world is rising increasingly quickly, not all manufacturers of electric cars are doing well. Sadly, South Africa-based EV maker Optimal Energy has gone out of business - for now.
You may have heard of the company back in 2008, when they unveiled their first offering, the cleverly-named Joule, at the Paris Motor show, where it got a lot of attention and coverage. The car was supposed to be put into production and be on sale by 2010, but making and having enough money to run a car company is very difficult, in our ‘modern’ times of ‘economic freedom’ and ‘capitalism’. The production deadline was pushed forward an additional 4 years, to 2014, but not being able to get hold of enough cash to keep going, they have officially closed their doors this month.

After another failed project, this time an electric bus which was supposed to be developed and manufactured with help from the South African government, it is clear that it is extremely difficult to achieve stability (not success) in opening a brand-new car company. At least Tesla and a few others have made it. We hope to see Optimal Energy revived some day in the future, as we have no doubt it will be back in business, at some point.
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