SARIT Your Engines: Magna founder reportedly planning three-wheeled EV

Aurora, Ontario — Frank Stronach, founder of Aurora, Ont.-based Magna International, is reportedly planning to build a three-wheeled, single-seat EV in the Greater Toronto Area.

The Toronto Star was the first to report Stronach was looking to build a new headquarters for his Safe Affordable Reliable Innovative Transport (SARIT) company after he applied for a zoning change to allow construction.

The SARIT vehicle’s design resembles that of a golf cart at three-feet wide, six feet long and five feet high. It’s said to be capable of travelling 100 kilometres on a single charge, said the Star.

Stronach is also reportedly funding the project through his personal finances, though has not revealed the cost.

“I believe it will change transportation in the world,” Stronach told the Star. “I want to be first out of the gate. I want to make sure Canada will be No. 1 in micro-mobility.”

The new facility could create as many as 200 jobs, Stronach told the Financial Post. The plant would have the capacity to produce and assemble 30,000 units annually. Stronach told the newspaper the production cost of a single-vehicle would be $2,500 and retail for $4,000.