Kit Based Electric Utility Vehicles


Automotive Technology

Company Type

Electric Vehicle Production




$230  Million

Investment Type

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Helping Great Companies Grow


  • ACE Electric Vehicle Group Pty Ltd (ACE EV) is seeking $230 million for a 35% equity stake in the company to
    commence commercial production and further R&D of its electric vehicles and battery storage technology
  • Electric vehicle technology is road tested with proven reliability – 50,000 km driven
  • Targeting developing countries with a competitively priced product, allowing access to electric vehicles and
    battery technologies to the underserved
  • First of its kind “Kit Based”, modular packing for easy assembly and maintenance anywhere in the world
  • First to trial onboard Alternating Current Bidirectional/Vehicle to Grid (“V2G”) onboard meter and charging
  • First mass market EV company to adopt Carbon Fibre Reinforced Plastic (“CFRP”) which is 3D printable and
  • Strong commercial interest from governments, energy companies and renewable organizations.
  • Expected to generate revenue within twelve months (detailed financial model with assumptions and scenario
    analysis functionality available upon request)
  • Well-rounded and highly experienced management team
Helping Great Companies Grow


Electric Vehicle Market
  • Growth market, poised to grow to 6,173,000 units by 2023
  • Push by governments around the world to increase adoption of EV
  • Chinese and US firms have dominated EV sphere
    • European governments are funding European firms to help them catch up
    • No other firm manufacturing in Australia focused on light commercial EV
  • Legacy automobile manufacturers are investing in EV, but lag behind companies like
    Tesla, BYD, and NIO

Battery Storage Market

  • Battery storage comprises about 60% of EV costs
  • By 2025, industry expected to grow to $8.4 billion from $1.8 billion
  • Asia-Pacific region is expected to be the biggest market (45%)
  • Tesla, Panasonic, and Chinese manufacturers such as BYD and CATL currently command
    85% of the lithium ion battery market
  • While German car companies (such as legacy companies) make up 19% of EV market,
    they largely use imported batteries
  • Globally, companies are looking to increase battery production technology to decrease
    current dependence on Chinese batteries and supply chains

Massive Scalability

  • The global electric vehicle market is projected to grow at a CAGR of 32.57% to reach
    10.79M units by 2025 from an estimated 1.5M units in 2018
  • 10,000 light commercial vehicles are sold per month in both Australia and New Zealand.
    51% are expected to be EV within the next 20 years
  • China is the biggest EV market in the world – accounts for close to 60% of global sales of EVs;
    India is the next largest
  • Billions of dollars have been invested in EV technology
  • Globally, about 4 billion people are not addressed by existing EV players; in these markets,
    the only real competitors are small, regional, low volume, conversion and home designed
Helping Great Companies Grow


ACE-EV is an electric mobility solutions company focusing on 2 core technologies

  • electric vehicle software; and
  • energy storage technology

Technologies will be integrated via ACE-EV’s fleet and energy management platform: “Business
on Wheels”.

From its core technologies, ACE-EV is seeking to commercially produce:

  • Electric Mobility Solutions – affordable light utility electric vehicles
  • Energy Storage Solutions – transitioning energy infrastructure to a new decentralised and
    robust network through bi-directional A/C
Helping Great Companies Grow


Greg McGarvie

Founder, CEO


Strategic marketing and management professional, with experience in leadership roles focused on sustainable project development and community consultation. Life experiences have centered on strengthening influence and function of organizations. Organized first Clean-Up Australia Day event in Mackay, Queensland; was President of the Marine Teachers Association; developed a national operating structure for Sea-week; created a Marine Studies guide that won a BHP award. Set up AUSMEPA for the Australian Shipping Industry and signed national agreements with HELMEPA in Greece. Completed several successful environmentally friendly projects.

Dr. Charles Kung

Founder, CTO


Graduated with a degree in Nuclear Engineering from National Tsing Hua University. Completed Ph.D. program in 1979 in Nuclear Engineering at Kansas State University. Upon receiving Alexander von Humboldt Scholarship, continued on with research work at Karlsruhe University. Worked in research and development of industrial technology for Taiwanese government agencies including roles at ITRI and the Ministry of Economic Affairs. Worked at Yue Loong Motor Company as V.P. and superintendent of Sanyi Factory. Served in private manufacturing industry as the Chief Engineer for the Taiwan High Speed Rail; was President of Transportation System of Siemens, Taiwan, and several top managerial positions at Coretronic Group. Established Science & Technology Inc. in Taiwan. Formed a JV, ZRD Electric Vehicle Co. in Shandong Province of China, to develop a new process of designing and developing light weight electric vehicle body using 100% composite material aimed at conserving energy and protecting the environment.

Will Qiang

Founder, International Business Director


After University, worked for a Shanghai business magazine, then moved to Australia. Serial entrepreneur – developed a number of businesses in Australia and China, such as export of perishable goods to Japan, Singapore, Taiwan, and China; and a fiberglass leisure fishing boat factory. Previously worked with Greg McGarvie to co-found a company called GetGreen – negotiated with Chinese manufacturers on technology solutions for energy management planning services. Developed a 200MW solar farm.

Gerhard Kurr

Founder, Design Director


Master’s degree from KIT University in mechanical engineering, industrial engineering, and business administration. Leader in fully composite moulding technologies; has developed specialised software and simulation that support ongoing design of new models and upgrading existing such as the Cargo, Yewt, Urban and Sportz. Extensive experience in production planning, model making, car body design, die casting, vehicle teardown, manufacturing, as well as management. Previously worked for Volkswagen, Mercedes Benz, Polynorm Grau, Schule, and GmbH & Co.

Mladen Matijas



Telecom engineering degree from the University of Western Australia. 30 years of high-tech experience. Highly motivated professional strategist with experience in technology and business panning. Simplifies problems, discerns key metrics, and quantifies value propositions. Previously, as interim CEO for ABN, traded in recyclables (paper, cardboard, and plastic). Helped company become cash-flow positive, at which point it was acquired.

Helping Great Companies Grow
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Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784


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