According to Electrive, the 10 million dollars Series A round enables the Israeli company to prepare the market launch of its innovative vehicle without delay, in 2024.

Founded in 2014, City Transformer showcased its dimension-changing urban EV to the public last year at the IAA Mobility event in Munich.

The light electric vehicle is classified as an L7e, which means it is a quadricycle similar to the Citroen Ami and the Renault Twizy, it can accommodate up to two people and can change its width while on the go, from 1.4 meters to 1 meter.

The vehicle is 2.5 meters long and 1.58 meters high, which makes it a compact mean of transport for urban commutes.

The EV can reach a top speed limit of 90 km/h and it is powered by two 7.5 kW electric motors.

While the company didn't mention battery size, it says that the range of the vehicle should be anywhere from 120 to 180 km and if the battery is empty, it can be quickly juiced up to 80% in just 30 minutes.

The City Transformer CT-1 can be pre-ordered by private companies for a fee of 150 euros, with pre-orders being limited to a certain number of vehicles.

For a pre-order, the price of the vehicle is 12.500 euros compared to the 16.000 euro listing price.