• Jul 6, 2010
Hulme CanAm – Click above for high-res image gallery

It seems like every day, a new startup flashes a rendering on the interwebs claiming to be the next big thing in the automotive world. Maybe it's a mid-engine supercar or an all-electric savior that's come to deliver us from dino juice. Either way, only a handful of these ever make it from dream fodder to something that actually puts rubber to the pavement. Few know that better than the crew behind New Zealand's Hulme CanAm.

The car has been the stuff of Kiwi dreams for nearly eight years now, but according to Yahoo! Xtra Sport, a recent lack of funds may force the company behind it and its investors to reconsider the future. After failing to raise $5.2 million USD through an IPO for construction of a facility to build the CanAm and development of the car, Hulme is now forced to refund what money it did accumulate. Investors will be getting checks in the mail.

So what happens to the LS7-powered exotic? At this point, apparently no one knows. Hulme had attempted to raise its capital through New Zealand investors only, so it's entirely possible that the company will begin looking outside of the island nation for a little financial help. For now though, the ambitious project appears to be in serious trouble.


[Source: Yahoo! Xtra Sport]


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    • 1 Second Ago
  • 10 Comments
      • 4 Years Ago
      I have to agree with Trustedcarsalesman. In an environment like this, is there really a need for another one of these cars? A supercar wanna be that holds a 6 figure price? Aren't there enough choices in that category? I certainly don't hope for failure for anyone, but I'd be surprised if they make it.
      • 4 Years Ago
      I see this car and think one thing: Modern day Bradley GT
      • 4 Years Ago
      yes simplecar it should because if i got an audi a8 i'd want IT to have all the bells and whistles too
        • 4 Years Ago
        ah geez, it was supposed to be a reply on zamafirs post...
      • 4 Years Ago
      Some of those shots make me think of a Caparo T1 that got fat.

      Interesting car and probably great to drive, but the price is entirely off scale. $70K sounds a bit high but workable. $700K is just insane. That's $220K more than a Caparo, and the Caparo weighs half as much, plus gets a super-exotic engine.
      • 4 Years Ago
      Meh, it's increasingly hard to secure funding and to be a sucres when you follow the same damn formula everyone has for decades, it's nothing new, it's pricey for what it offers, and not stupid fast, which is why everyone from pagani to palitov seem to be doing better.
        • 4 Years Ago
        Yeah, an Audi A8 has more features, should IT cost more?
        • 4 Years Ago
        It's increasingly hard to find funding for ANYTHING let alone a hack startup with a weak product.
        • 4 Years Ago
        *success
      • 4 Years Ago
      I'll take the whole company for a thousand bucks.

      My last offer.