Castle Three has failed to reach its crowdfunding target but insists the project is still on track
24 November 2013

The Castle Three Motor Company, which was planning a Morgan 3 Wheeler rival, insists its project is still on track despite failing to hit its crowdfunding target.

The firm was seeking finance through a crowdfunding drive. It was hoped that investors would purchase shares valued from £10 to generate the £200,000 required to complete the development and launch of a new sportscar. 

In a tweet earlier today, Castle Three bosses said: “Despite almost 70 investors and almost £30,000 invested we weren't able to meet our funding target. Many thanks to those who did invest.”

Castle Three planned to offer 20 per cent of the firm’s value to investors. Bosses said it needed to sell 60 cars a year to break even, but initially predicted 500 sales annually.

The car is described as a “three-wheeled sports vehicle for both the recreational motorist and motor sport enthusiast”. It marked the resurrection of the marque, which built 350 three-wheeled cars between 1919 and 1922.

Castle Three’s latest car has been sketched by motorcycle design house Xenophya Design, and is planned to be developed by GTME, a motorcycle engineering firm in Daventry.

Our Verdict

The new Morgan 3 Wheeler is a characterful, evocative and terrifically fun car to drive

After a half-century absence, Morgan returns to three wheels

Join the debate

Comments
2

TBC

25 November 2013
Is it me, or do all the stories I read in the motoring press make it sound like Morgan are the only company producing a three-wheeled car?

25 November 2013
These new fangled three wheeler cars, don't be silly.

www.KOOOLcr.com

 

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    24 April 2015
    Space and practicality has never been an issue for the Seat Leon ST, and thanks to a Cupra 280 engine it's now fast, too - but does it gel as a package?
  • First Drive
    24 April 2015
    Ariel's third model is the best yet - in fact, it's one of the best driving experiences we've ever had
  • Car review
    23 April 2015
    Mazda's Skyactiv tech revolution transforms its cheapest model
  • The new Espace is a seven seater and described by the company as a 'crossover'.
    First Drive
    23 April 2015
    Renault replaces its classic flagship MPV with a new take on the seven-seat utility vehicle, but it's not for sale in the UK
  • First Drive
    23 April 2015
    You won't find another premium, all-wheel-drive, seven-seat compact MPV like BMW's xDrive 2 Series Gran Tourer, but is there a reason for that?