Commercializing Electric Trucking

The trucking industry emits more greenhouse gases than shipping and aviation combined. In 2022, just 1.2% of medium-duty trucks sold were electrified.

Tevva is pioneering a cost-effective solution for decarbonizing fleets. With demand for commercial vehicles on the rise, electric trucking is key to the industry’s future.

electric truck
Electric truck
electric truck on highway
electric truck on highway

A Disruptive Approach
to Decarbonization

Tevva’s future-ready and technology-agnostic approach to BEV and hydrogen electric vehicles reduces reliance on pure electricity and de-risks the pathway to decarbonizing commercial vehicles.

Proposed Merger Highlights

  • Accelerates Tevva’s expansion in growing electric commercial vehicle market in UK, EU, and U.S.
  • Tevva has recently commenced deliveries to fleet customers
  • Estimated financials targets for 2028: $1.3-1.5B revenue, Mid-teens margin
electric truck
truck on winding road
truck on winding road

Structure of Transaction

ElectraMeccanica shareholders will receive a 23.5% ownership interest in the combined company and Tevva shareholders will receive a 76.5% ownership position on a fully diluted basis.

At closing, the combined company expects to have a cash balance of approximately $70 – $80 million, with debt of approximately $26 million.

The Future of ElectraMeccanica Manufacturing

As operations scale, the combined company is expected to leverage ElectraMeccanica’s team and facilities to further grow, delivering U.S.-built trucks to fleets around the country.

Together, ElectraMeccanica and Tevva deliver >300,000 square feet of state-of-the-art manufacturing facilities across the U.S. and UK.

ElectraMeccanica Elk Facility
ElectraMeccanica location