Breaking Barriers: Discover Dacora, the Pioneering Female-Founded Car Company Revolutionizing the Auto Industry

In the automotive world, Kristie D’Ambrosio-Correll is making waves. She’s the first woman to found and run an automotive company. Her company, Dacora, is set to roll out ultra-luxury electric cars by 2028, each priced between $500,000 and $650,000. Named after her family, Dacora aims to redefine the ultra-luxury vehicle market.

The prototype of Dacora is impressive. It’s 20 feet long, and Kristie envisions it as “America’s Rolls Royce.” Growing up, she was disappointed that there was no ultra-luxury car representing American craftsmanship. With a background in computer engineering, she previously served as CTO of Mirror, a high-end fitness tech company sold to Lululemon for $500 million in 2020. This experience taught her a lot about creating valuable products.

Dacora’s target audience is the ultra-wealthy—people who might not be driving luxury cars today. Kristie describes them as those who desire privacy and disconnection. Her design features minimal screens and a quieter electric engine. Customers often feel that current options fall short: “They’ve gone downmarket,” she notes.

Rather than developing a completely new electric powertrain, Dacora will build its vehicles on established electric platforms—a strategy reminiscent of how luxury brands operated in the 1920s and 30s. This helps minimize costs and risks. Additionally, they plan to produce cars on demand at a factory in Hudson, New York, eliminating inventory costs. Kristie expects to turn a profit within two years, with plans for global expansion targeting Europe and the Middle East.

Kristie is also focused on women in the automotive space. Standing at 4-foot-9, she understands the unique challenges female drivers face. “Cars are designed for men,” she points out, adding that marketing often overlooks women’s diverse interests. She has sought support from female investors, which aligns well with her vision for Dacora. Anu Duggal from Female Founders Fund was one of Kristie’s earliest backers, recognizing the potential in her innovative ideas.

This venture comes at a notable time when women are increasingly leading in various industries. Statistics show that women-led startups are more likely to succeed. According to a 2022 report by McKinsey, companies with gender-diverse leadership are 21% more likely to outperform their counterparts financially.

Kristie hopes Dacora will become a lasting family legacy. Her ambitions are not only to make high-end cars but also to challenge industry norms and broaden the demographic of car enthusiasts and owners. “This could be our contribution to the future of luxury,” she says.

For more on women in business and the growing impact of female leaders, check out McKinsey’s report on women in leadership roles here.

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Autos,career,Electric vehicles,female founders,Luxury,Most Powerful Women,MPW Daily