Swiss electric car start-up Piëch Automotive AG appointed Matthias Mueller, the former chief executive of Porsche and Volkswagen <VOWG_p.DE>, as its new chairman, the company said on Monday.
Founded by Anton Piëch, son of ex VW chairman Ferdinand Piëch, the Switzerland-based company is preparing to raise funds to launch an electric two-seater sports car equipped with batteries that charge to 80% capacity in under 5 minutes.
"I was immediately enthusiastic about the mission of the two founders, because it is more compelling and more visionary than all the new approaches I have encountered during my work in the automotive industry," Mueller said.
The electric sportscar will have a range of up to 500 kilometres (311 miles), and the first planned vehicle concept will be available to buy at the end of 2022.
The Zurich-based company also hired Jochen Rudat, a former Tesla executive, as head of sales.
Among the company's early-stage investors is Peter Thiel, the carmaker said. Swiss bank UBS will leading the next funding round, Piëch Automotive said.
(Reporting by Edward Taylor, editing by Louise Heavens)
