Electric cars are all the rage and trucks don’t seem to be getting a mention…
But British company Tevva are set to change this, launching two zero emission 7.5 tonne trucks by the end of 2022.
It’s said the first will be full electric with a range of 160 miles and the second will also be electric, but boosted by a small reserve hydrogen fuel cell, bumping the range up to 310 miles.
They’ve just successfully raised £42 million by way of an oversubscribed private placement from new and existing investors to fit out its brand-new London based production facility and rapidly scale up manufacturing. Which brings their total investment cash raised to £52 million in the last 12 months.
Founder and CEO, Asher Bennett said:
“We are thrilled to have received this latest investment and excited to kick off production of our pioneering electric truck in London. Following hot on the heels of COP26, this funding represents a rapid response to the latest targets and commitments.”
“Over the coming years we will continue to develop new electric and hydrogen truck technologies and execute our innovation roadmap to enable our vehicles to go further, whilst optimising driver experience and vehicle safety.”
As well as founder Bennett, they have some serious hitters in their team, such as:
David Roberts (Chairman), who has 30 years of executive experience in manufacturing, holding executive positions at Chrysler and Aston Martin, amongst others.
Former CEO of Lotus Group, Jean Marc Gales (Non-Exec Director), with previous positions as CEO of Peugeot. Group Marketing Director VAG and Executive Director GM Commercial Vehicles.
We didn’t know much about electric truck technology until we came across the progression this British start-up has made.
The Company intends to produce 3,000 trucks per annum by 2023, creating up to 1,000 skilled jobs and propelling Britain’s electric truck revolution.
Facing looming fossil-fuel vehicle bans, truck fleets are looking for viable zero-emission options to deliver goods to businesses and consumers.
As an example, UPS (the world’s largest package delivery company) has an eye on the future and is currently using 15 test model trucks from Tevva.
With the electric truck market expected to grow from £850 million in 2020 to £10 billion by 2027.