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Capital finance fundraiser oversubscribed for Indo-Anglo e-truck builder TEVVA

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By Jim Gibbins - 18th March 2021

UK / India - Electric truck developer, Tevva Motors Ltd of Chelmsford, UK has successfully raised USD12.5m (GBP9m) in capital finance in a funding round that it states was over-subscribed.

The funds are to be used to continue its development and rollout of mid- to large-size zero-emission electric-trucks (e-trucks). Tevva plans to use the new capital funding to gear up for series production of 7.5t to 19t (Class 5-8) trucks, supplying some of the world’s largest truck fleets with its revolutionary zero emission e-truck technology. Since 1916, UPS has been a customer.

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