The firm was planning on making an electric conversion of the 1967 Ford Mustang, with Ford granting the company a licence for the design and approval to make their own shell for the car.
The car would have consisted of a 63kWh battery, with a projected 0-60mph time in 3.9 seconds. The company also predicted the car could reach a 200-mile range and ultra rapid 50kW charging capacity.
The collapse occurred on May 31st. The reason for the collapse has not been fully disclosed by Charge Cars, however, the firm announced on social media that the collapse was due to a "rough patch".
All of the company staff, amounting to 50 people have been let go.
The closure comes shortly after Charge's sister company Arrival filed for bankruptcy in February.
