Genovation

What Genovation does

Genovation Inc. is a privately held, Maryland-based automotive engineering company that designs and builds the GXE, a limited-edition all-electric supercar priced at $750,000 per unit, with production capped at 75 vehicles. Founded in 2007 by Andrew Saul, the company converts Corvette Grand Sport platforms into dual-motor electric powertrains producing 800 HP and 718 lb-ft of torque, mated to either a 7-speed manual transmission (a category exclusive for EVs) or an 8-speed paddle-shift automatic. The GXE holds IMRA-certified and Guinness-certified world records as the fastest street-legal all-electric vehicle at 211.8 mph, and integrates a custom battery pack, advanced BMS, carbon-fiber wheels from Carbon Revolution, Brembo brakes, and a 10.4-inch touchscreen with track-day data acquisition.

Genovation operates a bespoke direct-to-consumer sales model targeting ultra-high-net-worth automotive enthusiasts, requiring a $250,000 deposit per reservation and offering full customization of color, interior, and wheels. The company leverages a distributed partner network — Prefix Corporation for vehicle engineering and prototyping, Stafl Systems for electrical systems, Rinehart for inverters, Harman for audio, and Alcantara for interiors — to compensate for a 3-person core staff supplemented by roughly a dozen contractors. Beyond vehicle sales, Genovation has signaled intent to license its Advanced-Silicon-Carbide-based hybrid energy storage technology developed with the University of Maryland under an NSF grant. Revenue, outside investment, and delivery volumes are not publicly disclosed.

Name

Genovation

Legal name

Genovation Inc.

Website

https://genovationcars.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Genovation is a Maryland-based boutique automaker that designs and builds the GXE, a limited-run all-electric supercar priced at $750,000, targeted at ultra-high-net-worth collectors through a bespoke direct-sales model with a 75-unit production cap.

Ownership category

akta.pro rank

Product category

High-Performance Electric Vehicles

NAICS

Motor Vehicle Manufacturing (3361), Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320), Motor Vehicle Transmission and Power Train Parts Manufacturing (33635)

akta.pro primary industry

EV Platform/Skateboard & Chassis Integration Manufacturing (IMACACAI)

Keywords

• Electric supercars
• High-performance EVs
• Bespoke automotive
• EV powertrain systems
• Limited edition vehicles

Headquarters

HQ city

Rockville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. GXE Electric Supercar Sales: Sale of bespoke all-electric supercars at $750,000 per unit, with limited production of 75 units. Requires $250,000 deposit upfront. Custom-built to customer specifications.
2. Technology Licensing: Plans to eventually license technology developed through the Advanced-Silicon-Carbide-based Novel-Hybrid-Energy Storage System to other companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Genovation Cars designs, engineers, and builds the GXE, a bespoke limited-edition all-electric supercar based on a Corvette platform. The company produces just 75 units at $750,000 each, featuring a dual-stack electric motor system producing 800 HP and 718 lb-ft of torque. Each GXE is custom-built to customer specifications with a unique exterior color and bespoke interior, requiring a $250,000 deposit.

Product overview

Genovation offers a single unified product—the GXE all-electric supercar—based on the C7 Corvette Grand Sport platform. The company builds a race-inspired aluminum frame with an all-electric powertrain producing 800 HP and 718 lb-ft of torque. The GXE stands out as the world's fastest street-legal all-electric vehicle with a 211.8 mph record. A distinctive feature is the availability of a 7-speed manual transmission—an industry exclusive for electric supercars. Supporting the product are proprietary mobile apps for iPhone and Android that enable remote vehicle management including charging and climate control. The company is a boutique builder producing only 75 units at $750,000 each, with deliveries targeting mid-2019.

Differentiator

Problem solved

Functional benefit

Brands

• GXE: The flagship all-electric supercar model, based on C6/C7 Corvette platforms, capable of 800HP and 211.8 mph top speed (world record for street-legal electric vehicles).
• G2
• G1

Products and services

• Genovation GXE All-Electric Supercar An all-electric supercar built on the C7 Corvette Grand Sport platform, producing 800 HP and 718 lb-ft of torque via dual electric motors. Holds world records as the fastest street-legal all-electric car at 211.8 mph. Available with either a 7-speed manual transmission (industry exclusive for EVs) or an 8-speed dual-clutch paddle shift automatic. Limited to 75 bespoke units at $750,000 each for ultra-high-net-worth automotive enthusiasts and collectors.

Quantifiable outcome

• 211.8 mph - World record for fastest street legal all-electric car (certified by IMRA)
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• College for Creative StudiesminorStrategic or Co-development Partner · 30 June 2020Partnership announced for Transportation Design students competition to reimagine a new exterior for the GXE all-electric supercar. Students will create exciting portfolio pieces and gain understanding of the professional design process.
• Prefix CorporationcoreStrategic or Co-development Partner · 1 November 2017Michigan-based design and engineering company leading vehicle engineering, integration, prototyping and vehicle production planning for the GXE. Prototypes are developed at Prefix's headquarters in Rochester Hills, Michigan. Prefix brings Detroit and European automotive expertise to making the GXE a world-class electric supercar.
• Stafl SystemscoreTechnology or Integration · 1 November 2017California-based company with expertise in solving difficult challenges in modern electric and hybrid-electric vehicles. Focuses on electrical systems, battery-pack integration, powertrain refinement and performance optimization for the GXE.
• University of Maryland (Maryland Power Electronics Laboratory)minorStrategic or Co-development Partner · 7 November 2013Partnership through National Science Foundation grant of $438,418 for development of Advanced-Silicon-Carbide-based Novel-Hybrid-Energy Storage System for Plug-In Electric Vehicles, under direction of Prof. Alireza Khaligh.
• Glenn L. Martin Wind Tunnel Facility (University of Maryland)minorStrategic or Co-development PartnerWind tunnel testing facility used for aerodynamic development and testing of the G2 and GXE vehicles. Computer models showed the G2 would have a CD of .20 with excellent downforce and aerodynamic stability.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Lucid Motors: US luxury EV maker (Lucid Air Sapphire) with triple-motor, 1,200+ HP performance variant; overlaps with Genovation on premium EV powertrain technology and luxury buyer overlap, though at materially higher volume.
• Bugatti Automobiles: Established ultra-luxury hypercar maker (Chiron, now Tourbillon) and Genovation's Director of Sales & Marketing is a former COO of Bugatti. Comparable on ultra-high-net-worth buyer segment, bespoke customization model, and pricing power, though historically ICE; now partially owned by Rimac.
• Tesla (Roadster / Model S Plaid): Tesla's announced next-gen Roadster and Model S Plaid compete on outright EV performance (claimed sub-2s 0-60) at far lower price points; not a boutique comp but the most visible high-performance EV benchmark driving customer expectations in the segment.

Emerging players

• Hennessey Special Vehicles: Texas-based boutique hypercar producer (Venom F5) targeting 300+ mph records with low-volume, multi-million-dollar builds. Comparable as a small-team, record-chasing US performance vehicle manufacturer with similar go-to-market through auto shows and high-net-worth direct sales.

Direct peers

• Rimac Automobili: Croatian boutique builder of all-electric hypercars (Concept_One, Nevera) using proprietary dual-motor powertrains and bespoke battery packs targeted at the same ultra-wealthy collector segment as Genovation's GXE. Both compete in the limited-production, record-breaking EV supercar category.
• Aspark Owl: Japanese-built electric hypercar with claimed sub-2-second 0-60 mph acceleration and very limited production. Directly comparable to GXE as a boutique, technology-led EV supercar chasing top-speed and 0-60 benchmarks.
• Lotus Cars (Evija): Lotus Evija is a 2,000-HP British electric hypercar limited to 130 units at >$2M each. Comparable as a sub-200-unit, hand-built, performance-focused EV supercar targeting a similar high-net-worth enthusiast buyer.
• Drako Motors: California-based low-volume EV supercar maker (Drako GTE) with ~$1.3M pricing and bespoke four-motor architecture. Closest US analog to Genovation in scale, business model, and ultra-luxury performance-EV positioning.
• NIO (EP9): Chinese electric vehicle company's EP9 supercar was a limited-run track-focused EV that held Nürburgring records. Comparable on category (record-setting electric supercar) and bespoke ultra-premium positioning.
• Automobili Pininfarina: Italian-German luxury EV hypercar maker (Battista) producing ~150 units at multi-million-dollar pricing with Rimac-sourced powertrain. Directly comparable to Genovation on product type, customer segment, and limited-run luxury EV positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/genovationcars
• Facebookfacebook.com/genovationcars

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Genovation