UK emissions-free truck maker Tevva raises £42mln to begin mass production
UK electric and hydrogen truck startup Tevva has raised over GBP42mln (US£57mln) from new and existing investors to complete its new London factory and begin manufacturing of its first mass-produced vehicle. The funding round takes its total new cash to US£70mln over the past 12 months. In September the company unveiled the 7.5 tonne Tevva Truck, an electric battery-powered truck with a range of up to 160 miles that can be extended up to 310 miles (500 km) with its hydrogen range extender.
First deliveries of this vehicle, which the company intends for mass production, are scheduled from the second half of next year. With its new funding, the company said it will complete the build-out of its production line at its plant in the London Thames Freeport area to prepare to churn out 3,000 trucks per year by 2023. The electric truck market is estimated to grow from just over US£1bn in 2020 to over US£14bn by 2027, according to Grand View Research.
Founder and CEO Asher Bennett, a former Israeli Navy submarine officer, said: “We are thrilled to have received this latest investment and excited to kick off production of our pioneering electric truck in London.
He added: “Mass production of our third-generation truck will help fleet operators take tangible action without compromising the economics of their business and, we believe, can enable ambitious government targets to be met ahead of schedule.”
Tevva’s engineered team is led by Ken Scott, formerly engineering director at Bentley, with the truck styled by Dale Grewer, the former chief designer at Jaguar Land Rover.
- Samsung Evo Plus microSD SDXC U3 Class 10 A2 Memory Card 130MB/s with SD...
REGULAR PRICE: £62.99 About this item This fits your . by entering your model number. Up to 130MB/s transfer speed with Class 10 and U3 […]
- ARPBEST 30X55 High Definition Monocular Telescope with Smartphone Holder &...
REGULAR PRICE: £72.24 About this item This fits your . by entering your model number. ✅Monocular telescope 30X55 high power zoom magnification. […]
- GENUINE FORD SYNC 2 SD CARD NAV UPDATE F10 2022 KUGA, MONDEO S-MAX, C-Max, Focus
REGULAR PRICE: £29.99 This fits your . by entering your model number. GENUINE CARD, SAME DAY POST, FULL AFTERSALES SUPPORT! Check Offer Price […]
- Bluetooth Headphones Over Ear, KVIDIO 55 Hours Playtime Wireless Headphones...
REGULAR PRICE: £20.99 About this item This fits your . by entering your model number. HIGH FIDELITY STEREO HEADPHONES: KVIDIO upgraded bluetooth […]