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Management news
Tevva prepares to appoint administrators while seeking funding
Truck Industry Tech
May 13, 2024
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Truck Industry Tech

Truck Industry Tech

May 13, 2024

Tevva prepares to appoint administrators while seeking funding

Management news

  • British electric truck company Tevva is preparing to appoint administrators to avoid collapse while searching for new funding to keep the company afloat.

  • The company previously secured preliminary deals with major clients like Royal Mail and Travis Perkins but is now facing financial difficulties due to challenging global economic conditions impacting electric vehicle startups.

  • A failed merger with Canadian firm ElectraMeccanica in October 2023 has compounded Tevva's troubles, leading to legal disputes and a renewed search for investment to sustain its operations.

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