Tevva

Overview
News

Tevva is a British electric vehicle manufacturer that produces a 7.5-tonne battery-electric truck for commercial fleet customers focused on urban delivery. The company's trucks are designed to optimize range, safety, driver experience, and total ownership cost while significantly reducing the environmental impact of urban freight and logistics operations.

Tevva's 7.5-tonne electric truck offers a range of up to 140 miles on a single charge from its 105 kWh battery pack. In 2023, the company planned to introduce a 7.5-tonne hydrogen-electric truck with a hydrogen range-extender that will increase the vehicle's range to up to 354 miles. This dual-energy solution allows Tevva to cater to a wider range of customer needs, including longer-distance deliveries.

Tevva operates a 110,000-square-foot manufacturing facility in Tilbury, UK, where it assembles its electric trucks. The company has secured European Community Whole Vehicle Type Approval, allowing it to produce and sell its vehicles in volume across the UK and Europe. In January 2023, Tevva began delivering its first mass-produced electric trucks to customers, including Royal Mail, Travis Perkins, and Expect Distribution, with plans to sell up to 1,000 vehicles in 2023.

In August 2023, Tevva announced a proposed merger with ElectraMeccanica, a designer and assembler of electric vehicles based in Mesa, Arizona. The merger aimed to accelerate Tevva's expansion in the electric commercial vehicle market, leveraging ElectraMeccanica's US expertise, manufacturing facility, and capital. However, in October 2023, ElectraMeccanica terminated the proposed merger agreement, citing alleged breaches by Tevva. Tevva strongly refuted the basis for the termination and threatened legal action. However, in May 2024, Tevva filed for insolvency to buy time for finding new investors, following a failed merger with Canadian firm ElectraMeccanica.


Sources

Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
Tilbury
Founded year:
2012
Employees:
251-500
IPO status:
Private
Total funding:
USD 179.3 mn
Last Funding:
USD 52.5 mn (Series Unknown; May 2022)
Last valuation:
-
Funding data are powered by Crunchbase
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