To meet the steadily escalating development costs of the vehicle, Sinclair decided to raise capital by selling some of his own shares in Sinclair Research to fund a separate company that would focus on electric vehicles. A £12 million deal was reached in March 1983, of which £8.3 million was used to fund the establishment of the new Sinclair Vehicles company.[22] Sinclair recruited Barrie Wills, a veteran former employee of the DeLorean Motor Company, to lead Sinclair Vehicles as its managing director.