Founded in 2023 as a collaborative study between Prodrive Advanced Technology and Astheimer Design, ELM Mobility has become a standalone UK business focused on creating highly efficient last-mile delivery vehicles. The company has developed a compact demonstrator and is now entering an optimisation phase ahead of planned customer trials in 2027. ELM aims to reduce delivery costs, emissions and urban congestion through its purpose-built electric vehicle and supporting digital ecosystem. Its current financial position includes £10 million of UK government DRIVE35 funding as part of a broader £20 million development programme. The programme brings together partners across engineering, manufacturing and electrification, including Barclays Climate Ventures, Toyota Motor Manufacturing UK, Nyobolt, Electrified Automation and CENEX. ELM positions itself to progress from concept to commercialisation with the support of these industry collaborators.

Total raised

$13M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2026