Dear Investor at BARO VEHICLES LTD, we present the progress report for the months of May – June:
In this report, you will find a complete progress report that includes the progress of the first phase completed in January 2017.
As for the mechanical and industrial design, we have already completed the phases of: conceptual design, 3D modelling and prototyping of the mechanical platform.
The 3D geometries have already been validated for the model BARO One and BARO 4 seats. This is for both parametric and rendering simulation.
This modelling includes all individual parts of the mechanical platform, fasteners, assemblies / sub-assemblies and body surfaces.
Mechanical subassemblies have also been designed and validated by both software and prototyping (for example, the drive-by-wire steering system).
About prototyping, the mechanical platform initially made in Argentina to make the “test of the concept” allowed to verify dimensional, structural, assembly, relative mass, ergonomic and proportional conditions.
With the information relayed in prototype one, the corresponding revisions were made and they turned on the definition of the Prototype 2, under construction in the United Kingdom.
In addition, for the second prototype, specific tools and moulds were developed (for example, for the chassis and suspension arms). In this way, we are ready to start the production ramp immediately after the first prototypes are finished.
The mechanical platform of the vehicle has already been assembled in the UK, integrating, for example, the drive and steering subassemblies.
In this sense, the assembly of the chassis has already been done to the different mechanical organs (suspension systems, engine, transmission, wheels, etc.). In this way, the correct definition of the different functional parts has been validated.
The next step is the manufacture of the moulds for the body kit (parts already listed and evaluated by our supplier).
As for the technological design, the first weeks of July were completed two important stages, the implementation of the joystick for manual control and the implementation of control of the steering system. We are currently working with the Bosch engineering team to evaluate the best positions for the vehicle’s sensors since the next step is to install all the data collection devices in the chassis to study the final locations.
CLOSURE OF THE FIRST FINANCING ROUND
In recent weeks, the sale of the total shares corresponding to the first round has been completed so that in the coming weeks, all the information corresponding to the accountants will be collected and sent to carry out the transfer of shares and be impacted in the Official HMRC website.
SECOND ROUND OF FINANCING
An agreement was signed with a London company that will help in the search for investors for the second round.
You can get more information on the second investment round by clicking here https://goo.gl/6ldHB9
Two people joined the team, an electronic engineer who has made it possible to accelerate integration processes and in the last week has joined a graphic designer who will start working on the commercial stationery and product interface. We are currently in the search for a sales engineer and a CFO of UK and we are also in the search and identification of profiles that can be added to the software development team mainly with experience in image recognition.
BOARD OF DIRECTORS
The team of directors meets every Friday to outline the activities and actions to follow. During the month of June our CFO Diego Rossi was working in England making contacts with Ventures Capitals and financial services companies to evaluate the options of Baro Vehicles. Venture Fest was also attended, an important event where investors and start-ups can be connected.
As always, we await your comments or inquiries through our usual channels of contact.
Thank you for sharing our mission of being a technological company manufacturer of sustainable autonomous vehicles to collaborate in the transformation of the mobility systems of our society, you are our Dream Team.
Daniela V. González