USA – All-electric medium-duty chassis for buses and trucks, Motiv Power Systems Inc of Foster City, California, has attracted further growth funding to support technological development, expansion of its manufacturing capabilities and geographic expansion. The USD15m funding, from private equity firm, GMAG Holdings Corporation of Denver Colorado, is being provided by means of convertible notes which are expected to be converted into a Series C funding round, which Motiv is in the process of raising.

Matt O'Leary, Motiv chairman and CEO, said: "Our progress with down costing, investment in a strong customer support team, and a proven fifth generation technology have resulted in some 200 vehicle orders, more than half of which are repeat orders from happy customers. Time and again, our customers give Motiv high marks on their vehicle performance across a range of diverse medium-duty vehicles, from trucks and buses, to specialty vehicles and shuttles. We leverage this feedback into higher-performing and even more-reliable and lower-cost products with every generation."