Led · Equity · Jun 2018

Tevva builds zero-emission 7.5-tonne commercial trucks, offering a battery-electric model with a 160-mile range and a variant with a small reserve hydrogen fuel cell that extends range to 310 miles. The company can provide hydrogen as a service to customers to offset limited hydrogen refuelling infrastructure. CEO Asher Bennett said most customers are expected to opt for the hydrogen-range extender for greater flexibility. Tevva is ramping production at a new London plant and aims to deliver its first vehicles to customers by the end of 2022. It intends to produce several hundred trucks by end-2022 and targets annual production of 3,000 trucks by 2023. The company plans a series of small factories close to customers and will consider further sites in North America and the European Union once the London plant is operating at scale. UPS is currently using 15 test-model Tevva trucks as a commercial reference. Tevva develops medium-to-heavy duty commercial electric vehicles and has upgraded its patented range-extender technology to use hydrogen fuel cells. The company is targeting the 7.5–19t "back to base" logistics market and recently unveiled a 7.5-tonne electric truck slated for mass production in the UK, with pre-orders available and first deliveries from Q3 2022. Offered range is up to 160 miles in pure BEV form or up to 310 miles with its range extender. Tevva received a £4.2m grant from the UK’s Advanced Propulsion Centre to advance the SANGREAL Project, a £12.2m collaboration with Advanced Electric Machines (AEM). SANGREAL focuses on designing a new electric transaxle, vehicle propulsion control system and on-board telematics to optimise hydrogen fuel-cell range-extender use, improve operating range and reliability, and enable predictive and preventative servicing. The funding is intended to accelerate development of Tevva’s next-generation zero-emissions capable trucks and help bring its technology to market. Tevva Motors designs and manufactures mid- to large-size range-extended electric trucks and related battery/BMS technology. The company closed an oversubscribed $12.5M financing round to continue development and rollout of those trucks. Its product suite includes an optional range-extender (REx) and batteries/BMS, with smaller trucks and vans claiming roughly 150 km of range. Tevva is diversifying its lineup to cover medium- and heavy-duty trucks and is working with food retailer Savona to develop an electric refrigerated truck. The company announced an EV starter set to help logistics fleets begin electrifying medium-duty HGVs and planned to launch that programme in the spring. Management says the funds will better position Tevva to meet growing demand in the global delivery truck market. Tevva Motors is incorporated under the Companies (Jersey) Law 1991 and carries out its operations from Chelmsford, UK. The company provides electric powertrain solutions for commercial vehicles and buses in the 7.5–14 tonne weight category. Tevva plans to extend its offerings for the development of new commercial vehicles, especially trucks and buses. A strategic investment from Bharat Forge is intended to enable Tevva to scale up its UK operations and put more electric trucks onto Britain’s roads. The deal also grants Bharat Forge a licence to commercialise Tevva technology within India and to strengthen R&D activities in e‑mobility. Tevva and Bharat Forge expect the funding to support product development that complements OEM requirements and to grow revenue per vehicle.